Bancor Network is the first DeFi protocol pioneering the Automated Market Maker (AMM) model, marking the beginning of decentralized ERC-20 Token trading without intermediaries or order books.
Founded in 2017 in Switzerland by Bprotocol Foundation, Bancor develops a multi-protocol ecosystem on Ethereum, creating modern DeFi products like Carbon DeFi, helping to automate superior on-chain trading strategies.
MAIN CONTENT
Bancor is the first AMM project to support unilateral staking and temporary loss insurance.
Carbon DeFi – a new generation DEX protocol that allows for automated, decentralized trading orders.
The founding team consists of leading financial and technology experts along with an international partner network.
What is Bancor Network?
Bancor Network is an ecosystem of DeFi protocols developed by Bprotocol Foundation in Switzerland, using AMM to enable direct on-chain ERC-20 Token swaps without third parties. The protocol has processed billions of USD in transactions since its launch in 2017.
With unique features such as unilateral staking and temporary loss insurance, Bancor facilitates liquidity providers (LPs) to optimize profits while minimizing risks.
What problem does Bancor solve?
Bancor addresses major challenges in DeFi such as temporary loss (Impermanent Loss), lack of automation in trading, and limited strategy management tools. The Carbon DeFi product helps automate the placement of trading orders according to strategies directly on-chain.
Protecting LP from temporary losses through unilateral staking and automatic insurance helps Bancor gain high trust from the community.
Bancor's Products
Carbon DeFi – Bancor's new core product
Carbon DeFi is a new generation DEX protocol that allows users to set limit, range, and recurring orders directly on-chain without the need for supervision or external bots.
Limit Order: Place buy or sell orders at a fixed price, ensuring fully automated on-chain execution.
Range Order: Automatically buy low and sell high within a defined price range, optimizing the 'buy low – sell high' strategy.
Recurring Order: Automatically reinvest buy and sell orders to create a continuous profitable trading cycle.
Carbon DeFi 'represents a major advancement that helps Bancor reposition itself in the DEX market with unprecedented personalization capabilities in trading strategies.'
Arbel Arif, CEO of Bancor Network, 2024
Arb Fast Lane – Bancor's open arbitrage protocol
Arb Fast Lane is an open-source arbitrage protocol that allows exploiting price differences between Bancor/Carbon and DeFi exchanges like Uniswap, SushiSwap. Arbitrage profits are automatically transferred back to Bancor DAO to increase the value of BNT Token.
Simulator – Bancor's trading strategy backtesting tool
Simulator is a strategy testing tool based on real data, helping traders evaluate the effectiveness of limit, range, or recurring orders on chains like Ethereum, Arbitrum, and Optimism before making real investments.
Accurate historical data from multiple blockchains.
Automated strategy performance chart simulation.
Supports risk assessment and easy adjustment effectiveness.
Highlights of Bancor Network
Bancor is the first AMM project to integrate unilateral staking and temporary loss insurance, opening up a new trend in DeFi. Carbon DeFi continues to affirm Bancor with strategic DEX utilizing automated on-chain trading without complex programming.
Automated on-chain trading without the need for external bots.
User-friendly interface, easy to use for all investors.
A legacy of billions of USD in trading volume from 2017 to present.
Information about BNT Token
BNT is the governance and utility Token in the Bancor ecosystem, developed on Ethereum, BNB Chain, and Solana.
Detailed Specifications Token Name Bancor Network Token Symbol BNT Blockchain Ethereum, BNB Chain, Solana Standard ERC-20 Total Supply 133,081,165 BNT Current Circulation ~161,196,921 BNT (including vBNT)
BNT Token is used for staking rewards, participating in governance in Bancor DAO, and acting as an intermediary asset in Token swaps.
Founders & Partners
Founding team
Bancor was founded by leading experts in economics and technology, such as Bernard Lietaer – a monetary economics professor, Eyal Hertzog – co-founder of Metacafe, Guy Benartzi – founder of Mytopia, Guido Schmitz-Krummacher, and venture capitalist Tim Draper.
Partners
Smart Contract Japan – developing Ethereum DApp
Aragon – organizational architecture network
IMToken – smart electronic wallet
Enterprise Ethereum Alliance – Ethereum alliance
Gnosis – two-way exchange of GNO-BNT Tokens
Antshares – asset management in the Chinese market
Status, Civic, Starbase – blockchain Token application and trading platforms
Current situation of Bancor Network
Currently, Carbon DeFi is the main product being maintained and regularly updated to reposition Bancor in the new generation DEX market.
Although TVL has decreased from the peak in 2021, Bancor has processed billions of USD in transactions, but the number of regular users remains limited, indicating the project needs more time to solidify its position.
Conclusion
Bancor is one of the first AMM projects and has made significant contributions to the DeFi industry. After the shock of 2022, the project restructured with Carbon DeFi to adapt to the trend of automated DEX. Although there are still challenges, Bancor remains an attractive investment channel for traders interested in the next generation of DeFi.
'We believe Carbon DeFi will usher in a new era for decentralized trading with unprecedented strategy automation features.'
Arbel Arif, CEO of Bancor Network, June 2024
Frequently asked questions
How does Bancor Network work? This is an AMM protocol ecosystem that allows on-chain ERC-20 Token swaps without intermediaries, with a mechanism for temporary loss insurance. What is Carbon DeFi? It is Bancor's new generation DEX protocol that helps users place limit, range, and recurring orders fully automatically on the blockchain. What role does the BNT Token play? BNT is used for staking rewards, participating in governance in Bancor DAO, and acting as an intermediary asset in Token swaps. How does Bancor address temporary losses? By unilateral staking and an automatic temporary loss insurance mechanism that helps minimize risks for liquidity providers. What is the current situation of Bancor? Carbon DeFi is the key product, and Bancor is repositioning in the DEX market with a gradually increasing user base.
Source: https://tintucbitcoin.com/bancor-network-bnt-la-gi/
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