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

[Qiuyue201]

I understand perspective of people who are worried that the terms of the ICO will be bad. Capping it too high will create problems. This is not about changing things last minute. This is about if they prepared it right. If they set it too high, they will paradoxally rise less funds than they would with fixed but lower amount. Just look at all the recent crowdsales. Capping it highly = less people interested = less funds gathered = less people in the community = lower momentum.

[Razaberry]

Bancor is a solution or a platform?
Bancor can be a solution, but maybe the bancor token may be worthless.  As ETH an waves can use the idea to create a new kind of asset.

Using Ether as the network token for Bancor protocol can be compared to using Bitcoin currency for Ethereum instead of Ether. Using BANCOR as the default reserve currency of the bancor network carries with it a few advantages.

The main one: Network Effects.

The more smart tokens that use BANCOR tokens in reserve (which will be the default setting for smart token creation), the more valuable & more in demand the BANCOR token becomes. As the value of BANCOR rises, so too does the value of every smart token holding BANCOR in reserve. And, because we’re both the most knowledgeable about the tech behind the Bancor protocol and have first mover advantage in building on it (including seeding token changers, high-potential community currencies, and popular token baskets with BANCOR tokens), anyone forking would need the economic incentive & the ability to surpass what we’ve built, or else will have created an inferior network with little incentive for others to use it.

[Razaberry]

So they create diff kind of this smart token to give as bounty reward.
Diff bounty campaign category hv diff token.
So will they have diff value over the time? Or the value will stay the same?

The value of each smart token's total supply is worth 0.2% of the total value of all BANCOR tokens. At the end of the ICO, we'll put 0.2% of the total BANCOR tokens in the smart token's contract. You'll then be able to cash in your earned smart tokens for BANCOR tokens, on a pro rata basis.

So the different tokens name does not have function other than it show that you can create a smart token ?
(of course for follower to change back to Bancor)
And to test it?

The reason we have 5 tokens instead of 1 is just that it makes organizing our bounty program a lot simpler for everyone involved. Each coin fits a niche of how you'd help us, instead of trying to organize it all in one messy section.

[Razaberry]

very good project I will take part in the ico, I would like to get the bounty but still don't understand what to do, all too confusing, I will do as know if I will thank I will be grateful

if you please tell me where should I write posts? it is in this thread? or take into account the entire bitcointalk I can write posts anywhere or only in this thread? sorry for my poor English

You can join the Bounty program here: app.bancor.network

You can post questions here or, if you want faster answer from the whole team, in our Telegram group (https://t.me/bancor)

[Razaberry]

I think we must wait next week when devs will say about ICO details and then discuss them.

THIS.

EVERYONE, we have NOT announced whether or not we will have a cap on our ICO, what it will be, or any of that. Those details will be coming out quite soon.

[Razaberry]

Bancor project have absorbed many chinese fans,it will be a hot ico. Isn't there chinese translation?

Yup. Chinese Bancor Whitepaper here: https://bancor.network/static/Bancor_Protocol_Whitepaper_cn.pdf

[Razaberry]

Hi, I can't log in. I am clicking a sign in from Messenger. facebook Messenger opens . I don't see any connection.

my personal account, how do I login??? 

Try again now? Should be fixed.

[Orr]

Have been on the campaign for a week and have not seen any added token. Will the token be claimed after the ICO or as activities are done the social media?

Hey,

every week our bounty manager go over the reports and sends tokens, check “my wallet” tab to view your credits,

if you didn't receive anything yet, please send a message to bounty manager via the app, or email her at bounty@bancor.network

[Razaberry]

I've read the white paper and I was truly impressed. Brilliant concept, perfectly explained, well written and behind the project you can spot a wonderful and crystal clear vision and understanding of the evolution of certain aspects of human society. If you'll be able to make it work I'm pretty sure it will be a paradigm shifting project, in other words a true game changer in a lot of domains.

This is beautiful. I'm saving this in our quotes book

As for Italian translation, we haven't officially assigned the Bitcointalk Official Italian thread yet. Say you want it here: https://app.bancor.network/communities/59072308fe34d10001aaf3d7/posts/5907339698c9cb000161feec?newCommentText=I

[Razaberry]

Nothing but a new way to get ICO. The entry barrier to do an ICO is really low, why we need a platform to do so? the reasons seem very weak to me.

The point of Bancor isn't to make ICOs easier.

The point is to make EVERY SINGLE currency completely liquid and connected to the global financial ecosystem, thereby enabling the countless small currencies (like complimentary currencies, loyalty points, in-game currencies) etc. that don't have high trading volume to be exchangeable for every other currency.

Bancor will do to currency what youtube did to video, what Instagram did to photography, what the internet as a whole did to publishing: enable the long tail.

[Razaberry]

Looks interesting! @Bancor-Team: How to you plan to prevent that the price of a token offered by your SC drifts off the price on different exchanges?

This gets automatically managed by arbitrate bots. Whenever there's a price discrepancy between any two sources (say two different exchanges, or an exchange and a smart token), people (and the bots they create for this purpose) are incentivized to trade and make a profit from that difference until it's no longer profitable.

So there will be, as there is today on all exchanges, a constant trading of assets by bots that keeps prices in line with each other.

[BlackMike]

I saw only 0.2% will be given for all bounty tasks. Isn't it a bit low? Any info to read about that?

[RAGEmond]

I saw only 0.2% will be given for all bounty tasks. Isn't it a bit low? Any info to read about that?

lets say they raise 12millions, 0.2% would be 24k doesn't seem too low for me

also each section has it's own %. translation gives 0.1% , bug section 0.5%

you can read everything about it here:

https://app.bancor.network/discover

just click on the section and read the given information there

[CORNEL]

I saw only 0.2% will be given for all bounty tasks. Isn't it a bit low? Any info to read about that?

https://app.bancor.network

You can find all available bounties on their platform and information is given in details how to join.

[Orr]

Bancor project have absorbed many chinese fans,it will be a hot ico. Isn't there chinese translation?

Yup. Chinese Bancor Whitepaper here: https://bancor.network/static/Bancor_Protocol_Whitepaper_cn.pdf

We also added a chinese page to our website - please check https://bancor.network/cn

[whatsTheDeal]

I saw only 0.2% will be given for all bounty tasks. Isn't it a bit low? Any info to read about that?

if you read more carefully you will see its 0.2 per bounty which there are 5 of so 0.2*5 = 1%

[kripteka]

Already is Monday. Waiting for ICO details from Bancor team. Interesting to see early bonuses because I will invest.

[whatsTheDeal]

Already is Monday. Waiting for ICO details from Bancor team. Interesting to see early bonuses because I will invest.

probably they are busy with their roadshow and development im sure we will get an update soon

[lenyro]

Bancor is the gem project, I am ready to invest it.

[lenyro]

What is min and max cap for bancor?