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Bancor Network Token (BNT)
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Bancor Network Token ICO summary information

Conceptual Model

The Bancor protocol is a standard that allows anyone to easily create completely liquid “smart tokens” that calculate their own prices & enable a single party to convert any token to another, without requiring a second party to exchange with. Thereby enabling the long-tail of completely liquid cryptocurrencies.Smart tokens hold other tokens in reserve, and can be used as decentralized token baskets (like ETFs), token changers (like shapeshift), project & protocol tokens (like GNT & REP), community currencies (like Ithacash & reward miles), and a lot of other use cases.The BANCOR network token will hold a single reserve in Ether. Other smart tokens, by using BANCOR as (one of) their reserve(s), connect to the BANCOR network. The BANCOR network token forms a monetary structure where increased demand for any of the network’s smart tokens drives up the value of the common BANCOR token, benefiting all other smart tokens holding it in reserve.

Project Description

The Bancor protocol is a standard that allows anyone to easily create completely liquid “smart tokens” that calculate their own prices & enable a single party to convert any token to another, without requiring a second party to exchange with. The BANCOR network token will hold a single reserve in Ether. Other smart tokens, by using BANCOR as (one of) their reserve(s), connect to the BANCOR network. The BANCOR network token forms a monetary structure where increased demand for any of the network’s smart tokens drives up the value of the common BANCOR token, benefiting all other smart tokens holding it in reserve.The Ethscan showed that there were 10,885 buyers with an average investment size of $13,471. Of the 50% withheld from investors Bancor plans to follow this distribution plan with 40% dedicated to software development, 20% as an Ethereum reserve for BNT, 12% toward marketing and business development, 10% for seeding Token Changes (smart tokens that hold multiple reserves and allow for direct exchange between them) and exchange-traded funds (Token Baskets), 8% for operational costs, 5% for legal expenses, and the remaining 5% for miscellaneous purposes. Team:Bernard Lietaer: Foundation Council President.Guido Schmitz-Krummacher: Foundation Council.Eyal Hertzog: Foundation Council. (LinkedIn);Guy Benartzi: Foundation Council. (LinkedIn);Yehuda Levi: CTO. (LinkedIn);Galia Benartzi: Business Development. (LinkedIn, Facebook);Ilana Pinhas: VP Engineering. (LinkedIn);Or Bachar: Core Developer. (LinkedIn);Omry Rozenfeld: Core Developer. (LinkedIn);Asaf Rachman: Core Developer. (LinkedIn);Mati Levi: QA Engineer. (LinkedIn);Itay Dreyfus: Product Designer. (LinkedIn);  With the surplus funds raised Bancor has created a price floor smart contract that will buy back BNT tokens when they go below the inital 0.01 ETH price. 

Founders and Associates

Guy Benartzi -Foundation Counsel

Eyal Hertzog -Foundation Counsel

Yehuda Levi -CTO

Galia Benartzi -Business Development

Ilana Pinchas -VP Engineering

Or Bachar -Core Developer

Asaf Rachman -Core Developer

Omry Rozenfeld -Core Developer

Mati Levi -QA Engineer

Itay Dreyfus -Product Designer

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*Disclaimer: This data should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency/cryptotoken or ICO.
BNT Latest Updates
July 12, 2018

The Road Ahead

Dear Community,Earlier this week, Bancor experienced a security breach that resulted in the theft of roughly $23.5 million worth of crypto, after which $10m worth of BNT was immediately recovered. As a decentralized liquidity network, Bancor neither holds nor has access to user funds and no...

From: Guy Benartzi

June 21, 2018

Bancor Progress Update: June 2018

Our team recently took a moment to recognize a series of milestones all landing seemingly at once — Bancor’s 1-year anniversary, the network’s 100th live token, the election of our LiquidEOS block producer upon activation of EOS Mainnet, and the launch of the world’s first natively...

From: Bancor

June 17, 2018

EOS Is LIVE: Now the Real Work Begins

The EOS blockchain is officially live! More than 15% of the total EOS tokens in supply have been used to validate the chain, activate its functions, and elect the first 21 block producers to serve and support the EOS blockchain. We are thrilled and honored that Bancor’s BP, LiquidEOS, was one...

From: Bancor

June 04, 2018

#100Tokens

On Monday, June 4th, at 12:00 GMT, the Bancor Network activated its 100th token.With 100 tokens live, there are now 5,050 trading pairs available on Bancor, such as NPXS to ETH, KIN to POE or BAT to DAI. That’s more trading pairs than any cryptocurrency exchange in the world.The Bancor team...

From: Bancor

May 22, 2018

Bancor Progress Update (May 2018): LiquidEOS, New Features & DEX Dominance

As we head into Summer, it seems the world is awakening to the power of decentralized value exchange — and Bancor is currently leading the pack. A widely circulated Etherscan graphic of top DEXs by transaction volume reaffirmed the fact that Bancor has caught fire with users, as new...

From: Bancor

Bancor Progress Update: LiquidEOS, New Features & DEX Dominance

As we head into Summer, it seems the world is awakening to the power of decentralized value exchange — and Bancor is currently leading the pack. A widely circulated Etherscan graphic of top DEXs by transaction volume reaffirmed the fact that Bancor has caught fire with users, as new...

From: Bancor

April 26, 2018

Bancor Protocol Developer Updates: April, 2018

Bancor has made some important updates to the Bancor Protocol. Effective immediately, these changes remove code redundancy from the Protocol and are also designed to ensure that transactions submitted to the Bancor Network are executed in the correct and valid order.** Bancor now limits all...

From: Bancor

April 25, 2018

Solving the Problem of Cryptocurrency Illiquidity and Token Conversions

This interview originally appeared on www.tristone-llc.com.Peter Lee: Hi Galia and thanks for the interview. Please tell us about yourself and about the history behind how Bancor came about — and, the problem that Bancor solves.Galia Benartzi: I am the co-founder of the Bancor Protocol, a...

From: Bancor

April 24, 2018

Bancor Progress Update: Wallet Launch, Fiat-to-Crypto & Record-Breaking Volume

These past few weeks have been incredibly exciting for Bancor as we launched the Bancor Wallet along with Bancor’s first fiat-to-crypto gateway. The releases have improved the usability of the Web App and, in turn, created a surge in activity that broke daily volume records on the network....

From: Bancor

Bancor Progress Update: Native Wallet, Fiat Gateway, Record-Breaking Volume

April 23, 2018These past few weeks have been incredibly exciting for Bancor as we launched the Bancor Wallet along with Bancor’s first fiat-to-crypto gateway. The releases have improved the usability of the Web App and, in turn, created a surge in activity that broke daily volume records on...

From: Bancor

April 05, 2018

The Bancor Wallet is now LIVE

Hello WalletThe day has come! We have officially released Bancor’s native wallet, enabling users to buy, store and manage any ERC20 token and offering built-in access to token conversions with instant on-chain settlement between any token on the Bancor Network.Driven by design and built with...

From: Bancor

April 03, 2018

Hello Wallet

We’re thrilled to announce the release of Bancor’s mobile-friendly native wallet. With the Bancor Wallet, users can purchase, store and manage any ERC20 token and easily convert between any token on the Bancor Network, including ETH, EOS, BNT and many more.This is Bancor’s largest product...

From: Bancor

February 22, 2018

Amid Pump & Dump Boom, The Bancor Protocol Helps Tokens Fight Back

Last month, organizers of a Telegram chat group sent a message encouraging their 79,000 members to collectively buy a cryptocurrency that had yet to be named: “Next pump will be in 6 hours and 27 minutes. Let’s make this a pump we will never forget!” Hours later, another message (“2...

From: Eyal Hertzog

February 21, 2018

How Bancor Dramatically Cut Ethereum Gas Costs

The Bancor Network for decentralized liquidity is fundamentally different than traditional and decentralized exchanges. Whereas trading on exchanges requires matching between buyers and sellers, the Bancor Protocol enables users to convert tokens without a counterparty. Another key...

From: Bancor

November 28, 2017

Announcing the Newest LIVE Token in the Bancor Network: Say Hello to Enjin

The newest active token on the Bancor NetworkWe’re excited to welcome the newest active token to the Bancor Network: Enjin CoinIn addition to ETH, BNT, STX and GNO, as of today you can also convert ENJ directly on-chain using the Bancor Web App, anytime.An automated decentralized liquidity...

From: Bancor

November 26, 2017

Bancor Progress Update

November 26, 2017Dear Community,Things are heating up at Bancor as we inch closer to activating the next tokens in the network and streamlining the technical and operational integration process so we can move from custom to generic deployments and head towards warp speed. A hand full of...

From: Bancor

October 16, 2017

Connecting MyEtherWallet to MetaMask

Simple steps to accessing your MEW account via MetaMaskBancor Network™ buy/sell actions now work with any wallet that supports Web3. We’ve been getting a lot of questions about using MEW so wanted to share this post with the community. Until MyEtherWallet adds support for Web3, below is a...

From: Asaf Shachaf

October 09, 2017

Announcing The First Active Tokens in the Bancor Decentralized Liquidity Network

ETH, BNT, STX, GNO…A Network Starts With NodesToday is a special day for Bancor, when a dream years in the making takes its next steps towards a fundamentally new reality.The first step was the Token Generation Event on June 12, 2017 which BNT in the hands of thousands of users around the...

From: Galia Benartzi

October 04, 2017

Bancor Wallet Recovery

Adding 12 Word Recovery Phrases to Bancor WalletsBancor wallets now include the standard 12 word phrase recovery option to allow for better security and additional recovery options in cases where users fail to locate their password.We incorporated this additional step at the end of the current...

From: Asaf Shachaf

July 04, 2017

Price Floor in Action, and as a Solution

As some of you may remember, following the feedback we received from the community about the Bancor TGE terms (specifically the uncapped minimum time) we decided to use 80% of the proceeds above the 250,000 ETH cap to create a price floor that would offer to “buy back” BNT at the TGE price...

From: Eyal Hertzog

June 25, 2017

BNT: The First Smart Token is Born

It finally happened…and it works.On Thursday, June 22, at 2pm GMT, the world’s first Smart Token, BNT, was activated.For the first time in history, an ever-liquid token has been deployed live in the field. BNT can always be purchased simply by sending ETH to an address — which...

From: Eyal Hertzog