What is Bancor? Bancor is an Ethereum based platform which empowers anyone to issue Ethereum based tokens. Bancor based tokens ,or “SmartTokens”, allow usage of its reserve protocol which in turn secures liquidity for all the the tokens in the Bancor ecosystem.
Bancor is celebrating 1 year these days and what a year it was! From completing a record-breaking Token Sale to launching their innovative BNT powered platform which guarantees liquidity for any token 24/7.
What is Bancor and What Makes Bancor Special
Bancor prediction was that the many tokens being added to the crypto space will result in lack of liquidity for “long tail tokens” i.e tokens with less recognition, network effect and holders. Lack of liquidity will ultimately render a token unusable thus making the entire ecosystem supported by it inaccessible.
Bancor’s prediction became reality, the industry is seeing a peak number of Token Sales performed on a daily basis, most of which are finding it extremely challenging to get listed in a mid-large size crypto exchange. A smart contract which guarantees liquidity for such tokens has never been more relevant.
Bancor were successful in developing a decentralized exchange, create their own wallet and allow fiat-crypto exchange at neck breaking speed.
Let’s breakdown some stats from our blox community:
Hodlers: 5.6% of all blox users have BNT in their portfolios, a slight pick up from last month 4.2%
Exchange Vs. Wallets: Wallet holdings are 11% higher then exchange holdings, good indication that the majority of BNT holders are not looking to trade their BNT
Our prediction is that during 2019 Bancor holding users managing their portfolio in blox will surpass 10%. Next year is about to be even more exciting for Bancor and we are looking forward for what’s to come.
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