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Bancor Network (BNT)

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The Bancor (BNT) project is a liquidity focused protocol developed by the Bancor Foundation, and was founded by Eyal Hertzog, Guy Benartzi, Galia Benartzi, Yudi Levi. The name comes from the supranational currency proposed by John Maynard Keynes and E. F. Schumacher during World War II. 

Going with the tagline “Freedom of currency is a human right”, Bancor’s mission is to drive adoption for cryptocurrencies by increasing its liquidity, without which cryptocurrencies cannot become a global currency. In addition to increasing liquidity, Bancor allows for the easy launch and expansion of new currencies, something only previously accessible to nation states or teams with extensive resources. 

A liquidity protocol allows for any asset, however low the liquidity, to be traded for other assets using smart contracts on the blockchain. This association with other currencies with no geographic barriers means that even the smallest currencies are unobstructed for general use. 

The project’s BNT token acts as a “smart token” which is a representation of other assets on the platform. These smart tokens quickly make the conversion between various ERC-20 assets for users, who do not have to rely on something like cryptocurrency exchanges making the conversion for them. This also means that users do not have to wait for buyers and sellers to match before an exchange can be executed - conversions can take place at any time.

During the 2019, the team achieved some major milestones. This includes the unification of the Ethereum and EOS networks into a single interface, called the Unified Wallet. This allowed for conversions between the two blockchains. As for adoption, Bancor hit a major breakthrough when it was announced that Samsung would use Bancor in its Samsung Galaxy S10. Bancor also introduced 12 new tokens in this quarter. Bancor has also been working with communities to assist these communities economically with the advantages of cryptocurrencies and to increase adoption. The Sarafu Network in Kenya has seen 100s of new wallets created.


Bancor v2.1 Protocol Health Report: January 2021

13 Jan 2021 9 minute read 0 comments Bancor Network

  Bancor v2.1 has been live for about three months. The new version of the protocol offers single-sided exposure and impermanent loss protection to AMM liquidity providers through the use of BNT. The following report uses on-chain data collected Octo...

Bancor's Solution for Impermanent Loss Brings Positive Results

13 Jan 2021 1 minute read 2 comments Abhimanyu Krishnan

On Jan. 12, the Bancor Network (BNT) team offered an update on how the v2.1 upgrade has impacted performance. In particular, its swap fees massively surpass impermanent loss compensation, bringing profits for the protocol, BNT holders and liquidity p...

Tezos Hyper-baking Scam / Nexus CEO Hacked & Other News | Crypto Corner ep.122

16 Dec 2020 1 minute read 0 comments busyjordy

CRYPTO CORNER EPISODE 122 ►The Markets Today►Crypto News - Nexus Founder Hacked - Millions of $$$ stolen | Bitcoin keeps attracting institutional investors | XRP drops to lower support after the Flare Network fork ►Your Questions Answered : Tezos Hyp...

Coinbase Lists Three New Ethereum Tokens

16 Dec 2020 1 minute read 1 comment CryptoVS

Coinbase Adds Three New Ethereum Tokens :  Aave (AAVE) Bancor (BNT) and Synthetix (SNX) all became available for purchase on Coinbase Tuesday 12/15/20 . Usually we see an upswing in a Tokens price when Coinbase adds them to their marketplace, but thi...

Bancor Rises by 35% After Coinbase Listing

16 Dec 2020 1 minute read 0 comments Abhimanyu Krishnan

The Bancor Network (BNT) token surged by over 35% in 24 hours after being listed on Coinbase Pro on Dec. 15.   The token eyes $2 price target in site after rising over 35% to $1.79 at the time of publishing Before Coinbase, BNT was most active on Bi...

Coinbase Pro Lists DeFi Tokens AAVE, BNT and SNX

15 Dec 2020 1 minute read 12 comments Abhimanyu Krishnan

Coinbase Pro has listed DeFi tokens AAVE, BNT and SNX, according to an announcement made on Dec. 15. Coinbase Pro opened deposits for the 3 assets on Dec. 14, with trading to begin at 9 AM PST, Dec. 15 AAVE, BNT and SNX are popular DeFi assets that...

Announcing BNT Liquidity Mining

24 Nov 2020 1 minute read 5 comments Bancor Network

We propose a BNT Liquidity Mining (LM) program aimed at achieving two primary goals: Attract new liquidity into Bancor pools Create stickiness to incentivize long-term liquidity provision With more liquidity, Bancor stands to win more conversions i...

Why Bancor v2.1 is Such a Big Deal?

28 Oct 2020 4 minute read 3 comments DrBreakThru

On October 12, 2020, Bancor – the popular on-chain liquidity protocol for the automated decentralized exchange of digital assets – proposed an improved version of itself called Bancor v2.1.  Bancor v2.1 is a major improvement proposal that introduces...

Single-Sided AMM Staking on Bancor V2.1

26 Oct 2020 1 minute read 12 comments Bancor Network

Step 1: Go to https://app.bancor.network/eth/protection and click “Stake”   Step 2: Under the Single-Sided Protection option, click “Stake and Protect”:   … in the list that appears, search for the pool you want to contribute liquidity to. Here, we...

Proposing Bancor v2.1: Single-Sided AMM with Elastic BNT Supply

24 Oct 2020 5 minute read 5 comments Bancor Network

  Bancor v2.1 introduces single-sided exposure & impermanent loss protection to AMM pools via elastic BNT supply Initially, more than 60 ERC20 tokens will be supported as “protected” pools vBNT, Bancor’s new governance token, can be generated by sta...