{"id":575,"date":"2021-06-01T10:43:28","date_gmt":"2021-06-01T10:43:28","guid":{"rendered":"https:\/\/deficoins.io\/?page_id=575"},"modified":"2021-06-01T10:43:28","modified_gmt":"2021-06-01T10:43:28","slug":"bancor-review","status":"publish","type":"page","link":"https:\/\/deficoins.io\/review\/bancor","title":{"rendered":"Bancor Review: All You Need to Know to Invest in BNT"},"content":{"rendered":"
Bancor is a decentralized protocol that allows traders, liquidity providers, and developers to exchange a variety of tokens in a stress-free manner. There are over 10,000 pairs of tokens that users can exchange with just one click.<\/p>\n
The Bancor network enables users to make a quick swap between a pair of tokens. In addition, it creates a platform for autonomous liquidity without the presence of a counterparty.<\/p>\n
You can use its basic token, BNT, within the network for transactions. The platform operates in a frictionless and decentralized manner while using the BNT token to ensure transactions.<\/p>\n
Bancor Network Token is popular for being the standard for the introduction of \u201cSmart tokens\u201d (ERC-20 and EOS compatible tokens). You can convert these ERC-20 tokens in your respective wallets.<\/p>\n
It operates as a DEX network (Decentralized Exchange Network), a class of crypto exchanges that permit P2P transactions in a seamless way. Smart contracts are responsible for liquidizing the protocol.<\/p>\n
BNT token facilitates the conversion of various smart tokens, which are connected to smart contracts. This process of token conversion happens within the wallet and is determined by the users. The big picture behind the token is vast usability amongst all users\u2014newbies inclusive.<\/p>\n
Bancor functions as an automatic price calculator that evaluates the specific amount of a token a user wishes to convert. Then, it provides its equivalent amount in another token the user desires to convert to.<\/p>\n
This is possible by implementing the Bancor\u2019s Formula (a formula that provides the price of a token by evaluating the market cap and available token\u2019s liquidity).<\/p>\n
Contents<\/p>
The name \u201cBancor<\/strong>\u201d was tagged in memory of the late John Maynard Keyes. John termed \u201cBancor\u201d as a global currency in his presentation in the International Trade of Balance at the Bretton Woods conference in 1944.<\/p>\n It was founded in the year 2016 by the Bancor Foundation. The Foundation has its headquarters in Zug, Switzerland, with its R&D Center in Tel Aviv-Yafo, a city in Israel. The protocol was developed in the Research Center in Israel.<\/p>\n The development team consists of:<\/p>\n Bancor’s Initial Coin Offering happened on the 12th of June, 2017.\u00a0 So far, the ICO has attracted 10,000 investors. Sales rose to over $153 million<\/strong>, an estimated amount for 40 million tokens, each at $4.00. As of now, the total circulating supply is 173 million BNT tokens worldwide.<\/p>\n The token rose to an all-time high price of $10.72 on Jan 9, 2018, and sank to an all-time low of $0.120935 on the 13 of March 2020.<\/p>\n As of the time of writing, Bancor seems strong and it may update an all-time high. It has a monthly all-time high trade volume of more than $3.2B monthly. Also, the TVL in the platform is over $2 billion.<\/p>\n\n
Bancor ICO<\/span><\/h3>\n