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Bancor Network Token BNT

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1. Summary

Fundamental Rank
97
Developer Rank
96
Social Rank
97
Coinrank
98
Description

Bancor is a software with the intention of incentivizing users to lock crypto assets in pools, in exchange for a share of the fees that are paid when they are bought as well as sold by traders.

In other words, it attempts to facilitate the operation of an Automated Market Maker (AMM), which is a mechanism that is desi...

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Bancor is a software with the intention of incentivizing users to lock crypto assets in pools, in exchange for a share of the fees that are paid when they are bought as well as sold by traders.

In other words, it attempts to facilitate the operation of an Automated Market Maker (AMM), which is a mechanism that is designed to provide liquidity to markets, without requiring a financial institution to manage it.

AMMs like Bancor aim to make crypto-asset markets liquid by offering incentives for users to create as well as maintain pools of the assets.

Here’s how it works, whenever a trade is made on the platform, the tokens are converted into BNT. The liquidity providers that deposited the assets, generate a return from their funds as a percentage of the fees that have been paid by the traders. Bancor is built to provide this on EOSIO and Ethereum.

The BNT Token Explained

At the heart of this network, you have the BNT token, which is a hub that connects all of the other tokens together. USDB is the stable version of BNT and is an alternative resource currency on the Bancor Network.

The BTN tokens are used as this intermediary currency when a token is traded.

Features of Bancor

In order to automate this AMM service, Bancor incentivizes users to deposit their assets into pools.

Every pool consists of a pair of tokens, as well as a reserve of BNT cryptocurrency. When a user ends up depositing coins within a pool, they will in turn receive a new token. This token is what is known as a pool token, which allows the user to retrieve their original amount which the user has locked in the protocol.

The Bancor Network Smart Contracts manage the conversion flow between the tokens, as well as the administrative access to different liquidity pools.

Every liquidity pool on the Bancor Network aggregates the liquidity for a discrete set of tokens on the network, and anyone can provide liquidity to a pool and receive conversion fees from trades that pass through the pool itself. The liquidity providers can receive tokens that are proportional to their share of assets in the pool.

Every pool though is managed by a ConverterBase contract, and the liquidity providers can create new instances of the converter contract to create new liquidity pools.

Founders of Bancor (BNT)

There are three people that founded Bancor in 2017. First, we have Eyal Hertzog, which is the product architect of BNT and has worked on other products that utilize the network. He has been a technology entrepreneur for over two decades and has worked on MetaCafe in the past.

Then we have Guy Benartzi, which is the CEO of Bancor, and also co-founded Mytopia which is a company that specializes in the development of cross-platform games.

Then we have Galia Benartzi, who has been a technology entrepreneur for years and is the business developer of Bancor. Regarding her other work, she is the CEO and founder of Particle Code.

Then we have Yudi Levi, which fills the role of CTO at Bancor and has worked for over two decades as a technology entrepreneur, where one of his past projects that are noteworthy is AppCoin, which he also co-founded.

2. Price

$BNT / USD

2.1. Market Performance

How does Bancor Network Token's (BNT) performance compare to assets of a similar market capitalization?

30 Day Return

-17%

BNT

-3%

Similar Market Cap

60 Day Return

-51%

BNT

-33%

Similar Market Cap

1 Year Return

231%

BNT

2,231%

Similar Market Cap

3. Developer Activity

We're monitoring 27 Github repos for the Bancor Network Token project.

Commits vs. The Market

  • Past 4 weeks: 50 commits vs. an average of 58
  • Past 12 weeks: 803 commits vs. an average of 244
  • Past year: 5,717 commits vs. an average of 1,512

Top Repos by Code Commits

Past week 38
Past 12 weeks 409
Past year 2997
Past week 5
Past 12 weeks 251
Past year 1410
Past week 2
Past 12 weeks 8
Past year 386
Past week 3
Past 12 weeks 46
Past year 187
Past week 0
Past 12 weeks 0
Past year 148
Past week 0
Past 12 weeks 0
Past year 86
Past week 0
Past 12 weeks 34
Past year 74
Past week 0
Past 12 weeks 0
Past year 48
Past week 1
Past 12 weeks 40
Past year 40
Past week 0
Past 12 weeks 11
Past year 29
4. Social Activity
Reddit Subscribers (Bancor) 7,503
Active Reddit Users 50
Telegram Users 11,457
Twitter followers 122,230
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