The Bancor Protocol is a standard that allows anyone to easily create fully liquid smart tokens that calculate their own value and allow one party to convert one token to another without the involvement of the other party.
Bancor (BNT), the standalone liquidity protocol for ERC-20 tokens, announced this week that it will expand to launch BancorX, a decentralized liquidity network supporting the Ethereum (ETH) and EOS (EOS) networks.
According to the announcement, Bancor will soon allow users to perform instant EOS-based token conversion through their system of automated smart contracts called repeaters.
Bancor claims that some of the benefits of the new protocol for EOS include 1-second transactions, zero transaction fees and a lack of frontal risk.
Bancor has already processed more than $ 1.5 billion token conversions since it was launched on Ethereum and currently supports more than 120 tokens.
The BancorX test system is now active, and Bancor offers 500,000 BNTs in total to developers who improve contracts or the user interface.
BNT currently has a market capitalization of $ 77.5 million, making the token the 71st largest coin in the AltDex 100 index (ALT100), and the 7th in the Exchange AltTex (ALTEXC) token exchange index.
