All day we’ve been watching our amazing community battle the steps to follow our trading instructions for buying and selling BNT directly from the smart contract.
While this is revolutionary and many have succeeded, it’s also way harder than we want it to be and light years from the “long tail” accessible version we plan to release in the future.
So, in the meantime, we’ve doubled down to create a slightly better process and we’re excited to share it with the community on the eve of this first day of trading.
Below is a very simple smart contract that allows purchasing BNT by sending ETH to an address. DO NOT send ETH from exchanges or hosted wallets such as Coinbase, as they cannot accept BNT back and your ETH may be lost.
We will next move on to make a similarly simple contract for selling BNT, but this is slightly more complex due the way Ethereum handles ERC20 tokens. We will update this post as soon as we have an ETA for when it will be ready to test. In the meantime, you can continue to sell BNT using the instructions provided and on listing exchanges.
Please remember that this contract, while very simple, is still experimental. First, try your transaction by sending a small amount of ETH to then verify you’ve received BNT in return.
IMPORTANT: USING THIS CONTRACT WILL PURCHASE BNT AT THE PRICE EFFECTIVE WHEN THE TRANSACTION IS PROCESSED. THERE IS NO WAY TO LIMIT THE PRICE.
If you are an early adopter, please report to the community about your experience.
To use, send ETH to: 0x77a77EcA75445841875eBb67a33d0A97Dc34d924
Please use a 300k Gas Limit, and again, please, try a small transaction amount first to test.
When the transaction is processed, BNT tokens will be sent to the address from which the ETH arrived, and again this should not be an exchange or hosted wallet.
We again remind everyone to be vigilant against scammers and ONLY use addresses and instructions you copy directly from our official site and blog. Be alert for misspelled accounts, copycat sites, and other shenanigans. If you see something, say something. And always encourage your community members to check here first and get their information directly from Bancor official channels.
We can’t wait to make this process even simpler and more intuitive until everyone we know can easily buy and sell smart tokens, at a predictable price, with the click of a button. Until then, we’ll keep hacking, and we thank the community so sincerely for your support and dedication to the project thus far. It’s been moving (up), to say the least.
To simplicity and beyond,
The Bancor Devs
Buy Safe