The Bancor Network launched with the aim of providing an automated solution to the problem of illiquidity for the tail-end of the token ecosystem. It introduced the use of what it calls Smart Tokens, which are ERC20 compliant on the Ethereum blockchain, to maintain an autonomous link between tokens within the network and continuously makes them available to buy and sell without the need for a counterparty. The price is calculated automatically by the Bancor formula.
The Bancor Network TokenShow more [+] NT) was the first Smart Token launched on the network and serves as the hub token connecting all other tokens within the network, making it possible for tokens to be easily converted for one another. Contributors to Bancor’s ICO, which successfully raised $153 million in June 2017, received half of the initial token allocation.
Bancor is named after the supranational currency conceptualized by John Maynard Keynes and Ernst Friedrich Schumacherat, which was proposed by the former for the United Kingdom during the 1944 Bretton Woods conference.
Claiming the Deficits on Bancor Pools - Liquidity Providers losses
I was a liquidity provider last year and I went out when Bancor said they will not pay the BNT tokens according to the impermanent loss.
So I did not receive what was promised, the BNT tokens to prevent the impermanent loss, when I withdrew.
Today I accessed the webiste (bancor.network) and I can not see the pools to provide liquidity anymore. What happened ?
I lost a lot of money because Bancor changed the main protocol rule to prevent impermanent loss overnight. All the pools go through a big deficit because of this.
So if there is any action I should take please let me know.
Get ready for some thrilling news! The eagerly awaited Polygon airdrop is now live. Visit their website to confirm your eligibility and grab your free Matic tokens. I just secured 900 Matic worth $460, but your rewards may vary based on your blockchain activity.
Get ready for some thrilling news! The eagerly awaited Polygon airdrop is now live. Visit their website to confirm your eligibility and grab your free Matic tokens. I just secured 900 Matic worth $460, but your rewards may vary based on your blockchain activity.
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