What is Bancor?
Bancor is an open-source blockchain protocol which is designed to directly convert cryptocurrencies without the need to trade them via an exchange. It aims to facilitate automated on-chain exchange through automatic price determination and autonomous liquidity generation. Exchange can also take place across any two smart contract enabled blockchains. BNT is the native token of the Bancor platform. Although the network primarily operates on Ethereum, it is designed to be interoperable across multiple blockchains.
Why buy BNT?
The platform provides upto 60% APR on popular tokens such as ETH, LINK, MATIC, etc. In exchange for the BNT token, users provide funds to the community liquidity pool. Liquidity providers also earn a share of the gas fees paid for trades conducted through the funds of the pool. The BNT token represents a user's share of liquidity, fees, and other benefits. The platform is heavily audited and secure. The supply of BNT tokens is controlled through regular coin minting and burning events. Burning excess BNT tokens protects users from impermanent losses by maintaining trading liquidity levels.
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