- Bancor, a decentralized Liquidity network announced its upcoming airdrop which will commence on New Year’s Eve.
- They will give away their ETHBNT liquidity pool tokens to 60,000 people.
- Users will be able to either hold the token or trade it for any other token.
Bancor, a decentralized liquidity network announced its upcoming airdrop which will commence on New Year’s Eve, in a press release on November 27th. They will give away their ETHBNT liquidity pool tokens to 60,000 people.
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Clients will have the option to either hold the token and start getting charges from every Ethereum (ETH)- put together exchange with respect to Bancor, or they can exchange it for some other token on Bancor, including ETH, EOS, and (DAI).
How liquidity pools function is that members are allowed to add liquidity to a decentralized exchange (DEX)and receive a portion of the exchange’s trading fees in return. It is crucial to make decentralized exchanges more liquid in order for them to compete with centralized exchanges.
The aim behind this airdrop is to ensure greater liquidity for DEX and to widen the scope of decentralized finance (Defi) applications. According to Bancor, the airdrop will increase Defi app users by 500%. To quote them,
“Users will be able to either hold the token and start receiving fees from each Ether (ETH)-based trade on Bancor, or they can trade it for any other token on Bancor, including ETH, EOS, and Dai (DAI)..”
Bancor is also currently running a project to alleviate poverty in Kenya using its proof-of-authority consensus algorithm. They furnish neighborhood networks with the capacity to purchase and sell nearby monetary standards utilizing charge cards or well known digital forms of money, including 1,000 organizations and 20 schools. The undertaking propelled on July 5, 2018, cultivates business enterprise and assists local people with producing pay.
The Bancor founding group previously launched a number of local currency pilots serving various communities. Among them is the currency for a local community of mothers that processed more than 1,000 transactions per day at its peak, although its activity was eventually reduced.
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