[ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem

[sud]

What are your thoughts on Stox as the first smart token on Bancor Network? Do you think this was a good decision or not as a first project? Until now, ICO investors in Stoxs are pretty screwed over by it. Do you think this is in some kind related to Bancor?

First Smart Token on Network was GNO with GNOBNT Relay, which is live since the beginning of October, and we can call it successful, since third biggest trading volume for Gnosis is on Bancor (just after Poloniex and Bittrex). I don't know the story behind Stox investors, but the token can only benefit from more volume and more attention from Protocol integration. Can you elaborate more about the situation with Stox?

I didnt invest in STOX eighter, just thought they were the first "real" smart token that has BNT as a reserve currency. Afaik Gnosis was traded before bancor was born and has no BNT or other currencies in reserve and therefore is no smart token right? Please correct me if Im wrong. But with Stox, long story short, the price fell constantly ever since ICO and it seems not to recover at all. I was in the Telegram group some time ago and there the tone was not really nice. Dont know what will happen with this project. Maybe it was because Floyd Mayweather promoted this project that buyers stayed away. For me that was a red flag too. Not that this guy does not know how to make money, I mean its in his name, but you know...

GNO is a Smart Token just like others, you can read more here - https://blog.bancor.network/gnosis-bancor-partner-on-the-first-ever-token-changer-gnobnt-63fb14b65653

This is why we are thrilled to announce a unique partnership between Gnosis and Bancor to create a joint GNOBNT Token Relay — a decentralized liquidity pool of GNO and BNT, encapsulated in a Smart Token. 4,000 GNO and 400,000 BNT (~$1,000,000 value each) tokens will be deposited in a Gnosis-Bancor multisig wallet

Regarding Stox, well, you can't control the price so the team should just focus on developement. I know many tokens that are falling down after the ICO, nothing you can't do about it, except accumulating more if you belive in project.

Bancor is over, no one likes this project, the price sucks, I think you should be dumped below 10k sat.

OK, thanks for your insightful post!

[1715367136]

1715367136

[1715367136]

1715367136

[1715367136]

1715367136

[Shahrul09]

Catch Bancor Co-founder Eyal Hertzog
 on stage at Blockshow Singapore today, Nov 30 at 05:00 AM PST, or watch the livestream:

https://youtu.be/Vv91d7drzfU

[maryhansenn]

Hello, what's the risks of being a liquidity supplier (if there is any)?

[mme1022]

Hey guys

Bancor got a challenge for you:

New Year Bounty Contest: 2017 Crypto Recap Graphic

It's been an eventful year at Bancor and in the entire blockchain industry.
Send us your best (original) graphic summarizing the action in the crypto space in 2017, And join our New Year's bounty competition. http://bit.ly/CryptoRecap2017

[josegr4ham]

is the use of the bancor app wallet to store ones BNT in now recommended?

[sud]

is the use of the bancor app wallet to store ones BNT in now recommended?

Since it now has standard 12 word recovery phrase, when you set it up, you can safely store tokens there

[vipgelsi]

is the use of the bancor app wallet to store ones BNT in now recommended?

Since it now has standard 12 word recovery phrase, when you set it up, you can safely store tokens there

I downloaded the app but i do not see my 12 words?

[ruletheworld]

is the use of the bancor app wallet to store ones BNT in now recommended?

Since it now has standard 12 word recovery phrase, when you set it up, you can safely store tokens there

Depends on how much BNT you have. For small amounts, it's alright. For larger amounts, still suggest hardware wallets like Ledger or Trezor.

[sud]

is the use of the bancor app wallet to store ones BNT in now recommended?

Since it now has standard 12 word recovery phrase, when you set it up, you can safely store tokens there

I downloaded the app but i do not see my 12 words?

What do you mean downloaded? I though we are talking about Bancor web app.

is the use of the bancor app wallet to store ones BNT in now recommended?

Since it now has standard 12 word recovery phrase, when you set it up, you can safely store tokens there

Depends on how much BNT you have. For small amounts, it's alright. For larger amounts, still suggest hardware wallets like Ledger or Trezor.

Agree, hardware wallet is always the safest way to store.

[vipgelsi]

my mistake i was thinking freewallet app that supports bancor.

[vipgelsi]

Question for the board i am just starting to research and invest in bancor.

Lets say a new company wants to make a token on bancor network could someone explain how many bancor tokens they would need to accomplish this.

For example would it be 1000 bancor for every 1 million of the new token?

[vipgelsi]

Found this on Bancors site so i am guessing the higher the backing the more value the token will be offered at initially.

"These types of tokens serve a very different purpose (representing external assets on blockchains while minimizing the counterparty risk.) In Bancor’s case, the reserve tokens serve as a mechanism to provide liquidity and price discovery, not as the backing of the Smart Token's™ value. Therefore Smart Token™ reserves can be set anywhere greater than 0% and up to 100%. This allows token creators to create new value while benefiting from continuous liquidity and automated price discovery, from day one, before the Smart Token™ has had a chance to accumulate trade volume, thus significantly lowering the barrier to liquidity and enabling the long tail of user-generated currencies to emerge."

[newb-dev]

Hi, I have become a liquidity provider in the Enjin Bancor Token Relay. I have a question regarding this; If I convert 50k ENJ into ENJBNT and the supply of BNT is greater than the supply of ENJ do I get additional ENJBNT tokens?

[ivaf]

The new Bancor portable widget takes the Bancor Wallet and Smart Tokens anywhere. Partners simply embed to allow users to buy & sell Bancor Network tokens in an even more decentralized way. See the 1st one live in action on Enjin.com website: https://enjincoin.io/#market

[GayEddie]

Hi, I have become a liquidity provider in the Enjin Bancor Token Relay. I have a question regarding this; If I convert 50k ENJ into ENJBNT and the supply of BNT is greater than the supply of ENJ do I get additional ENJBNT tokens?

After you bought? No.

Before you bought?
Imho, when you buy token relay from one side you will
effect the price of that side and create opportunity from the other side.


https://blog.enjincoin.io/enjin-coin-bancor-token-relay-explainer-11313c0bab2

[LegendX]

do you guys know what are the ICO price of BNT in USD and ETHER? thank you

[matsud2]

do you guys know what are the ICO price of BNT in USD and ETHER? thank you

0.01 eth/ bancor token if i not wrong but i don't know how much bancor price in usd at that time

[pencil89]

around 3,5$

[semiwylson]

what is the nearest updates?

[RitzBitzz]

what is the nearest updates?

moon!
Lol, there are no eta for other token relay to be added into the apps.
https://trello.com/b/8SaOatUe/bancor-product-roadmap

Check the roadmap