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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.

Staking BNT tokens for LP Protection: Things to do when ETH gas fees are low!

9 Jun 2021 4 minute read 0 comments bengy

  This recent stretch of low Ethereum gas prices has been a huge chance to do all the things that I had been putting off for quite some time. Uniswap V3 migration, ENS registration, Kleros courts, staking and airdrop claims are all the things that...

Bancor (BNT) Blockchain Protocol Overview

26 May 2021 4 minute read 0 comments

In the cryptocurrency world, besides Bitcoin and Ethereum, the coins at the top of the charts are always changing. And in order to stay up to date, it’s important to learn about the projects the public is currently spending their money on. And the pr...

The Hateful Eight: BTG, CEL, FLOW, DGB, STX, NEXO, RSR, BNT – Biggest Losers from April 23rd to April 30th

1 May 2021 2 minute read 3 comments pheonixdown-dee

In this article, I'll take a look at eight altcoins that decreased the most over the past seven days (April 23rd – April 30th). Note these are top losers in top 100, there are other projects that have dropped more that have smaller market caps.     T...

Bancor Protocol. Deep Analysis and Personal Opinions

27 Apr 2021 7 minute read 0 comments TheCriptonaut

History of the Bancor Protocol (BNT) How the exchange works Understanding of the native Bancor token (BNT) Evaluation of possible disadvantages and illustration of future plans   You have probably already heard of Bancor (BNT), and are familiar wit...

BNB, CAKE & BNT - Technical Analysis for February 18th

18 Feb 2021 2 minute read 9 comments pheonixdown-dee

On Feb. 18, Binance Coin (BNB), Pancake Swap (CAKE), and Bancor (BNT) reached all-time high prices. For BNB, the trend still looks bullish, but the rally has overextended, and it’s possible that BNB could reach a local top soon. Technical indicat...

Bancor Will Bring Its Liquidity Protocol to Polkadot

2 Feb 2021 1 minute read 5 comments Abhimanyu Krishnan

The Bancor Network (BNT) team announced in a blog post published on Feb. 1 that it will bring its liquidity protocol to the Polkadot (DOT) network. The implementation is expected to allow users to trade between Polkadot and ERC-20 tokens using Banco...

How To Stake BNT Liquidity Mining Rewards & Compound Yield

28 Jan 2021 2 minute read 2 comments Bancor Network

  BNT liquidity mining rewards are live in the front-end. Users can now view, withdraw and stake BNT rewards to compound yield. By staking BNT rewards, users can earn swap fees and additional BNT rewards, which can also be staked to e...

4 Alternatives to Uniswap (With a Token)

26 Jan 2021 3 minute read 4 comments yourmitchy

Uniswap has been around since November 2018 when Hayden Adams released the first version of Uniswap Since then, it has been growing slowly, but surely until its popularity skyrocketed around $UNI airdrop on September 16th, 2020. Anybody who used Uni...

Bancor v2.1 Protocol Health Report: January 2021

13 Jan 2021 9 minute read 1 comment 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...