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

[riskthebiscuit]

Bancor Releases Six Month Update, Seeing Uptick in Adoption

https://cointelegraph.com/news/bancor-releases-six-month-update

It is a start, but we are nowhere near the potential this protocol can reach. Give it say another 6 months but more accurately probably 4 and I feel like we will see movement that will cement Bancor's place in crypto for a long time to come. The tech to me seems like it is that powerful and if it gets adopted oh boy hang on to your socks .

[RitzBitzz]

Hopefully bancor can rise when the eth moon this feb

[BancorAmbassador]

What is the exact difference between tokens and relay.
unable to find proper documentation regarding that

Liquid Tokens — hold one or more connected tokens, with a combined connector weight of less than 100% (and usually less than 20%) — This configuration is the most efficient way for new tokens to connect to the Bancor Network and benefit from continuous liquidity and unlimited supply without dilution. These were formerly called simply Smart Tokens.

Relay Tokens — hold two connected tokens (BNT and another), with a combined connector weight of exactly 100% — This configuration allows existing standard ERC20 tokens to connect to the Bancor Network via BNT as a conversion conduit. Today, Relay Tokens are uniformly set at 50%/50% weights for each connector, but in a future upgrade, these will be configurable and also dynamic.

Also, check out the January progress update for descriptions of the latest Bancor terminology. 

[Photographer]

Previously I looked into Bancor when I heard it was a liquidity solution. I liked the idea. It is like a dex with only market orders that uses the liquidity pools of multiple different tokens. This is very useful in crypto where some coins have very low liquidity which leads to very high price volatility. However, its marketcap was already high so I stayed away.

I looked into it deeper recently and read about the baskets of reserve tokens that could be bought and sold as one "smart token". This could be used as an ETF or index fund for any combination of cryptocurrencies allowing anyone to create their own fund. This reminds me of 1broker in that popular traders could create their own smart token in the Bancor Network and any user could buy into it. On top of all this, there are no fees (although the creator of each smart token can set a fee if they choose).

It's also right around its ICO price so if it breaks this level then it is poised for a move after declining for so long.

I guess we have just gone though a long accumulation phase, where weak hands have given up their tokens to the strong hands and the pump & dumps groups have avoided playing with it because the protocol protects the price against such extreme manipulations of the price. But one dine day the price will take off and then...

[ivaf]

CEO of Aigang (AIX), Augustas Štaras, answers questions about being one of the latest tokens to join the rapidly growing Bancor Network. Read what he has to say https://steemit.com/bancor/@bancor-network/aix-aigang-bancor-partner-testimonial

[Photographer]

CEO of Aigang (AIX), Augustas Štaras, answers questions about being one of the latest tokens to join the rapidly growing Bancor Network. Read what he has to say https://steemit.com/bancor/@bancor-network/aix-aigang-bancor-partner-testimonial

Nice interview. Now we are having almost daily new coins joining the Bancor liquidity system. And from this onwards it can only grow.

[BancorAmbassador]

2,500 BNT reward for anyone who can transfer HACKME tokens to their own wallet in the Bancor demo environment!

Bancor is giving away 2,500 BNT to anyone who manages to transfer HACKME tokens to their own wallet in the Bancor demo environment! Are you up for the challenge? Start hacking! - https://app.demo.bancor.network/discover?utm_source=social&utm_medium=hackme

Bancor doesn't have a good reputation of treating security researchers with respect. For example, before the ICO, they diluted their bug bounties just before the promised date, so they could pay out less.

This is false. Bancor ran the most generous bounty program in history.

Re: security researchers, Bancor has nothing but respect for these folks. In fact, please see our response to Emin Gün Sirer's “Bancor is Flawed”, which is entirely respectful and specific to the issues you raised: https://blog.bancor.network/this-analysis-of-bancor-is-flawed-18ab8a000d43

[BancorAmbassador]

CEO of Aigang (AIX), Augustas Štaras, answers questions about being one of the latest tokens to join the rapidly growing Bancor Network. Read what he has to say https://steemit.com/bancor/@bancor-network/aix-aigang-bancor-partner-testimonial

Nice interview. Now we are having almost daily new coins joining the Bancor liquidity system. And from this onwards it can only grow.

Yep. Here's another one for you that just launched right now!

SWM Token (Swarm) now LIVE on the Bancor Network for continuous, decentralized and automated liquidity: https://www.bancor.network/communities/5a6eefd7f4f65d0001c4946a/currency

Check out the Web App to convert SWM, BNT, ETH and other tokens directly from your Web3 wallet: http://bit.ly/BancorDiscover

[BancorAmbassador]

Suggest a question for Bancor FAQ

As part of our upcoming major website redesign, we are working on a new and updated FAQ.

Do you have a question for Bancor? Suggest it to us and we might publish the answer on our Q&A page: https://goo.gl/forms/lB8dcjV8Xx4GcNTZ2

[XCNP]

It is matter of time to see Bancor's decentralized automated smart contract based liquidation to be used by large number of users. These up gradation in website design and to make the UI/UX users friendly will be game changer. On the other hand BNT as token has sustained good value which I believe will at 4x from here once the platform seeing larger adaption in coming months.

[ders_a]

Sorry for such question - is Bancor just a place to switch form 1 token to another one in good price? Something like flyp.me changelity, shapeshift or some other similar places? or it is something more? Sorry again. Yes, I was reading first pages with info about bancor.

Also, I am interested - is there any place speaking about profitability of platform?

Also, I am right when I say that BNT is utility token? Or it is paying some dividends too?

Will be very glad if anybody will  answer to my first questions.

[Dancing_Coin]

does anyone can explain the how Bancor protocol works in a nutshell? )
I've looked through the WP for 3 times
and I got nothing litteraly )

Bancor protocol enables the creation of “smart tokens” which independently handle their own liquidity and price discovery through their smart contracts. The method smart tokens use to do this is by holding a balance of another token (let’s use ETH as an example) so that the smart token can be purchased by sending the connector token (ETH) to the smart contract (this ETH is then added to the connector balance, and smart tokens are issued to the buyer) or liquidated by sending smart tokens to the smart contract (the seller then receives ETH from the connector balance and the smart tokens are destroyed) all without needing a second party to trade with. The price at which the smart token is bought or sold for any of its reserve tokens is set by an algorithm which balances the current connector balance with the current smart token supply, at a predefined Weight, which is a above 0 and up to 100%. The smart contract also recalculates its own price following each purchase (which causes price to increase) or liquidation (which causes price to decrease), in proportion to the transaction size. So, a larger purchase or liquidation will change the price more than a smaller one. This ensures that the connector cannot be drained and will always maintain their Weight of connector token balance in the contract. Thus, a smart token does not need to be listed in an exchange in order to be liquid and priced by the market.

I'd say that's f**ng genious

[stormfold]

For the latest news and updates follow us at https://twitter.com/bancor

[ANDREW 555]

Listing on Lykke (February 02)
https://coindar.org/en/event/bancor-bnt-listing-on-lykke-2641

[JesusCryptos]

Relax and HODL. Wish they could have Master Nodes. I would have gone almost All-in =D
Love the platform!

Wow, you've hit my imagination man, I'd also love to run a Bancor Masternode if something like that existed. Bancor is my number one choice of asset, would love to be even more part of the project than I already am by owning a lot of BNT.

There is no concept of a masternode for Bancor - may be you're confusing BNT with some other crypto. BNT is in fixed supply, and an ERC20 token on ETH. It borrows its security characteristics from Ethereum, and therefore doesn't need a masternode.

No confusion, it was just a moment of phantasizing by two authentic fans of Bancor who would have been very happy to have a continuous inflow of BNT

[BancorAmbassador]

Sorry for such question - is Bancor just a place to switch form 1 token to another one in good price? Something like flyp.me changelity, shapeshift or some other similar places? or it is something more? Sorry again. Yes, I was reading first pages with info about bancor.

Also, I am interested - is there any place speaking about profitability of platform?

Also, I am right when I say that BNT is utility token? Or it is paying some dividends too?

Will be very glad if anybody will  answer to my first questions.

Bancor is a Decentralized Liquidity Network, which enables seamless automated conversion of tokens without an exchange.

Check out the live Bancor Web App here: https://bancor.network/discover

... and follow this guide to convert tokens using a Web3 wallet with Metamask: https://steemit.com/bancor/@bancor-network/4gurrp-how-to-use-the-bancor-web-app

There are currently 26 convertible tokens (including BNT) on the Bancor Network.

[BancorAmbassador]

ANNOUNCEMENTS

TRX token (TRON) is now LIVE on the Bancor Network for continuous, decentralized and automated liquidity!: https://app.bancor.network/communities/5a6dd4c65c3811e6e2eca306/currency

Check out this guide on how to convert TRX , BNT, ETH and other tokens directly from your Web3 wallet using Metamask: https://steemit.com/bancor/@bancor-network/4gurrp-how-to-use-the-bancor-web-app


BlockEx to Integrate Bancor Protocol to Provide Continuous Token Liquidity

BlockEx, a Digital Asset Exchange Platform (DAxP) currently launching a Token Sale, will make its tokens, the DAXT, available on the Bancor Network.

Within a week of the BlockEx ICO concluding, 2% of the total supply of DAXT is slated to  be available on the Bancor Network.

Read more about it HERE: https://www.prnewswire.com/news-releases/blockex-to-integrate-bancor-protocol-to-provide-continuous-token-liquidity-670886473.html

[Kripto.hr]

In my opinion, this could be big Bancor competitor in some areas of business...

https://steemit.com/cryptocurrency/@kriptonoob/with-babb-everyone-is-the-bank

[Rexler]

In my opinion, this could be big Bancor competitor in some areas of business...

https://steemit.com/cryptocurrency/@kriptonoob/with-babb-everyone-is-the-bank

I don't even see BABB as being a competitor to Bancor in any way. Babb doesn't feature a liquidity protocol for tokens like Bancor. Projects that I'd agree that are competitors of Babb would be Monaco, TenX and of course centra (If It's not a scam).

[ser54gold]

Is this similar to pioneer us project?