Our @Bancor profile is updated with the latest on the platform and its native $BNT token
Bancor is a unique decentralized exchange (DEX) that uses $BNT as the common price token to fulfill pair trades among users and liquidity pools for hundreds of Ethereum + EOS tokens.
Consensus & Emission:
$BNT supply is elastic with Bancor V2.1. The protocol matches liquidity pool token deposits with minted $BNT and burns $BNT when tokens are withdrawn. Users’ $BNT deposits replace minted $BNT to control inflation.
$BNT launched on 6/12/17 in the largest ICO at the time - $153M
The initial 79.3M $BNT supply was allocated to:
50% - ICO Participants
20% - Project team, contributors, investors
20% - Bancor budget
10% - community development
Token Type: ERC-20
Bancor was the first automated market maker (AMM) DEX on Ethereum. The protocol matches $BNT with all pooled tokens to create trading pairs. Users can stake $BNT or any token without unintended asset exposure.
How the Bancor DEX works:
Bancor integrates a series of smart contracts to exchange Ethereum and EOS tokens in liquidity pools. $BNT is minted and connected to each token at a constant ratio so prices reflect supply & demand.
How $BNT/vBNT staking works:
Users supply tokens to liquidity pools for automated trading. $BNT stakers receive $BNT trading fees (and re-stake them for vBNT and 1x leverage) but all users get full coverage against Impermanent Loss after 30 days of staking.
Bancor Governance:
The BancorDAO approves all protocol changes. Decisions are vetted among the community before vBNT holders vote on-chain to enact the improvements.
Learn more about Bancor on their asset page, compiled by Messari Community Analyst, @hurrcain messari.io/asset/bancor/p…
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