Blocks of Finance
Today we discuss Bancor Network and the BNT token, which has really been taking off in the last few weeks. This quick guide to the Bancor platform should give you an excellent idea of why people are flocking to use this decentralized exchange, and to buy and stake BNT. The Bancor protocol was the first AMM (Automated Market Maker), which UniSwap was actually based on. The team over at Bancor have been innovating in this space for many years, and they continue to do so in 2021 as we’ll highlight in this video – looking at the reasons for the Bancor Network Token increasing in value rapidly over the last few weeks. When compared to competitors such as UniSwap and SushiSwap, the Bancor Crypto exchange has a few key advantages. Firstly, you can do single sided staking on the Bancor platform which reduces your risk from holding assets you wouldn’t otherwise want to, such as Ethereum. In addition, the protocol provides impermanent loss protection for the main liquidity pools, so after 100 days you can completely remove these risks. We go over how this works in detail during this Bancor review, and highlight the benefits you can enjoy as a staker or liquidity provider. In the video we’ll cover all of the basics you need to know about this platform including Bancor staking and how to earn BNT tokens using assets you already own. We’ll also explain the new developments in Bancor v2 and v2.1 where the Liquidity Vortex was introduced. This could provide a lot of upward buying pressure for the BNT token on exchanges – some of the Bancor price prediction figures we’ve seen have been very high with this new and exciting news. If you have any questions about this Bancor Network tutorial or anything related to BNT in general, just leave us a comment below and we’ll be sure to respond to you.