BNT 4x: How Bancor Revolutionized Decentralized Exchange with Innovative Features
Bancor ($BNT), an Ethereum-based altcoin that powers an automated market maker (AMM) protocol, has soared by over 90% in the last 24h. Bancor Network is a decentralized exchange that uses smart contracts to enable users to swap different tokens without intermediaries. The smart contracts also manage the liquidity pools of the network, which can include tokens from other blockchains as well. Bancor has a stable version of its BNT token, called USDB (USDBancor), which is backed by BNT and can be used as an alternative reserve currency for the network.
Bancor 3.0 introduces several new features that aim to increase trading volume, reduce gas costs, and make it easier and cheaper for users to earn on their favorite tokens. Some of the features are:
- Omnipool: A single pool that allows for all trades on the network to occur in one transaction, instead of two as in the previous version.
- Infinity Pools: No deposit limits on liquidity pools, and the ability to use superfluid liquidity for fee-earning strategies both inside and outside the protocol.
- Instant Impermanent Loss Protection: Full coverage of impermanent loss from day one, instead of after 100 days as in the previous version.
- Auto-Compounding Rewards: Both trading fees and rewards are automatically re-added to the pool, allowing users to earn more while doing less.
- Dual-Sided Rewards: Token projects can offer rewards on their pools, so users can benefit from both BNT and the token they are staking.
These are some of the factors that explain why BNT increases 4x in the past few weeks. Bancor is one of the leading protocols in the decentralized finance (DeFi) space, offering a unique value proposition for both traders and liquidity providers. BNT is the backbone of the Bancor ecosystem, capturing the network effects and the growth potential of the protocol.
And the legendary call from the experts @qudrat and one of our own:
