1. Programme Name
Bancor Network Token (BNT)
2. Project Introduction
Bancor is a decentralized exchange protocol that allows for the creation of liquidity pools to trade assets.
Bancor is composed of smart contracts (called “liquidity pools”) designed to perform algorithmic token trades and pooling of on-chain liquidity. Supporting both ERC-20 and EOS tokens, Bancor implements a liquidity pool curve on both Ethereum and EOS networks.
Prices are determined by the reserve balance of coins deposited into the protocol, divided by the token's total supply multiplied by a reserve ratio.
BNT is the Bancor protocol token. When users create or stake in a Bancor pool, users are required to do so in equal values of ERC-20 token + BNT (or EOS token + BNT). It offers cross-chain conversions and positive network effects; it is also expected to be used for staking in Q2 2020.
On January 1st 2020, ETHBNT tokens were airdropped to BNT token-holders. ETHBNT tokens represent a Bancor pool token representing shares in the ETH:BNT liquidity pool i.e., these tokens collect fees from ETH-based conversions on Bancor.
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Huobi does not take responsibility for any resulting direct or indirect losses.
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