Last updated 09/09/2022
Bancor was founded in June 2017, the project is a DEX (Decentralised Exchange) platform built on the Ethereum and EOS blockchain with its most notable feature being its Single-Sided Liquidity for staking. The project is overseen by the Bancor DAO (Decentralised Autonomous Organisation), the organisation’s objective is to deliver DeFi (Decentralised Finance) products to the mainstream from a secure format.
Following its launch Bancor invented the first automated market maker (AMM) and liquidity pool (LP) in 2017. This event cemented Bancor as the first DeFi protocol which inarguably paved the way for the DeFi boom and the many projects that followed.
Despite being the first out of the block for DeFi, Bancor has tackled core issues that almost all other liquidity providers still have intrinsically emended in their whitepapers. First of which would be voluntary token exposure, which exposes liquidity providers to the price volatility of two or more tokens as well as Impermanent Loss which subjects LPs to value loss when prices of pool assets diverge, causing them to under-perform a basic buy-and-hold strategy.
Bancor's Liquidity pools offer passive income for Bancor holders through its staking mechanism, around half of the total Bancor in circulation is staked directly on the platform and its Single-Sided Liquidity pools collectively represent over £100 million in total liquidity.
Bancor remains as one of the most audited crypto projects to date. Enduring audits from Certiks, Peck shield and Halborn has resulted in its acclaimed security receiving the highest safety scores from DeFi safety. Many DAOs have nominated Bancor as their preferred treasury solution including Polygon (MATIC), Synthetix (SNX), BarnBridge (BOND), WOO Network (WOO) and more.
Galia Benartzi is the co-founder of the Bancor Protocol and is known for being serial technology entrepreneur. She has attained a MA in International Economics, her other endevours include co-founding a successful social gaming company Myopia in 2005 and Particle Code in 2013, a cross-platform development technology for mobile applications during the surge in smartphone usage from 2005 onward. Galia also joined Israeli technology firm Founders Fund, as a Venture Partner where she launched local currency pilots to model, build and test software for community currencies.
Yudi Levi is the CTO and co-founder at Bancor, similarly to his counterpart he founded Mytopia and worked as their Chief Architect. He was also the Chief architect for Real Dice and Particle Code. He was also the Chief technology officer of various mobile-based software firms.
Much of the path ahead for the project is going to be propelled by discourse taking place amongst the Bancor DAO. Currently, the project is rolling out its Bancor v3 update and is preparing for the ramifications of the Ethereum Merge.
Desktop Wallet providers such as Exodus are also great for storing, sending and receiving any Bancor (BNT) you may already own or looking to purchase. It is always recommended that you set up your own wallet, create back-ups and store any sensitive recovery information separately. Always complete your own research and due diligence to identify the best wallet suited for you.
Trust Wallet - a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Beginner friendly mobile wallet may be appropriate for users looking for a convenience and accessible app, with trusted security and backup options.
You can Buy & Sell Bancor (BNT) by heading over to the Buy Coins page of our website. Bancor (BNT) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Bancor (BNT) has never been easier, simply place your order and provide your wallet address. Once your payment arrives Bancor (BNT) will be sent directly to your wallet.
If you choose to sell Bancor (BNT) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the Sell Coins page.
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