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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.
15 Oct 2020 1 minute read 0 comments Abhimanyu Krishnan
Bancor’s legal team has asked for a court case filed in the U.S. Southern District of New York to be dismissed, saying that it would be more suitable for it to be held internationally. The filing was first reported by Law360. Court filings published...
5 Oct 2020 1 minute read 3 comments Heruvim78
Everything seems to go down on the market, but there are few tokens going up still. So, what we got? Ziliqa, ranked #57 now, had its native token ZIL going up almost 10% in the last 24 hours. They are a fast blockchain platform, with sharding imple...
17 Sep 2020 8 minute read 9 comments yourmitchy
DeFi continues to grow at an unprecedented pace, and its very difficult to keep up with the crucial breakthroughs occurring. As a result, I wanted to weed out the most important breakthroughs that we have witnessed in Q3 that are bound to take the en...
31 Aug 2020 5 minute read 8 comments CryptoChartWizard91
Every morning over the past few weeks, I have gone straight to CoinMarketCap to see another DeFi token ranked amongst the top 24 hour gainers. DeFi tokens outshining the entire market has been a typical theme, which I am sure most of you have spotted...
23 Aug 2020 2 minute read 6 comments Bancor Network
We are excited to announce that ParaFi Capital, a DeFi-focused investment firm, has invested in the Bancor Network Token, BNT. This strategic investment aims to further Bancor’s mission of enabling global, permissionless on-chain liquidity. Santiag...
6 Aug 2020 6 minute read 4 comments 0xJonnyDee
Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article. All the article and images are taken from a news source that I li...
21 Jul 2020 7 minute read 2 comments Bancor Network
In this post, we’ll explore the dynamic weighting and staking features of a new type of liquidity pool in Bancor v2 called a Dynamic Automated Market Maker (DAMM). The process below allows for automated market-making on any staked asset supported b...
10 Jul 2020 1 minute read 2 comments Bancor Network
We are excited to announce REN and renBTC as Bancor V2 launch pools. The two new Bancor V2 pools will allow both REN and renBTC holders to provide liquidity and earn a share of trading fees while maintaining 100% exposure to either token. While exi...
29 Jun 2020 2 minute read 5 comments Bancor Network
We’re excited to announce the release of a community-built interface that provides detailed statistics on the Bancor ecosystem and liquidity pools. https://bancor-network.info Note: This is Beta software, so use it at your own risk. The inte...
29 Jun 2020 9 minute read 3 comments D3F1
In this piece, I will be comparing some of the hottest projects in DeFi space. This one, you won’t want to miss. But first, before we dive in, what exactly is DeFi and why should you pay attention to it? DeFi, the acronym for (‘Decentralized Finance...
