Bancor (BNT) a cryptocurrency start-up, developing a new protocol which might disrupt the industry of cryptocurrency exchanges. Here you can find out the most important facts to their idea:
Update 13.06.2017: The Bancor ICO finished in just 4 hours and raised nearly $140 Million in Ethereum (Exchange Rate of 350 taken from Poloniex). This is the second biggest ICO after the DAO. Not let us just hope that this blockchain startup doesn’t fail like the DAO.
ICO Status: FINISHED
The Bancor protocol is a standard that allows anyone to easily create
completely liquid "smart tokens" that calculate their own prices &
enable a single party to convert any token to another, without
requiring a second party to exchange with. Thereby enabling the
long-tail of completely liquid cryptocurrencies.
Smart tokens hold other tokens in reserve, and can be used as
decentralized token baskets (like ETFs), token changers (like
shapeshift), project & protocol tokens (like GNT & REP), community
currencies (like Ithacash & reward miles), and a lot of other use
The BANCOR network token will hold a single reserve in Ether. Other
smart tokens, by using BANCOR as (one of) their reserve(s), connect to
the BANCOR network.
The BANCOR network token forms a monetary structure where increased
demand for any of the network's smart tokens drives up the value of
the common BANCOR token, benefiting all other smart tokens holding it
Get more information
ICO price = 100 BNT : 1 ETH
396,720 Ether Raised
|ICO Token Distribution: (so who gets how much BNK tokens):
20%: Community Grants, Partnerships & Bounties
20%: Long-term Foundation Budget
10%: Founders, Team, Advisors and Early Contributtors
hidden ETH cap, to be revealed at 80%
3 year vesting schedule with 6 month cliff
|Usage of the raised funds:
40%: Software Development
20%: Bancor ETH Reserve
12%: Marketing and Business Development
10%: Seeding Token Changers and ETFs
8%: Operational Expenses
5%: Legal Expenses
5%: Misc and Unexpected
Initial Coin Offering
12. June 2017 at 14:00 GMT
12. June 2017 at 18:00 GMT
ICO Tradable on Exchanges since:
Team behind Bancor
Founder of MetaCafe, Israel’s fastest growing video sharing site reaching over 50m unique’s at its peak. Previously, Eyal founded Contact Networks, one of the first social networks in 1999.
Galia Benartzi is a venture-backed technology entrepreneur, with more than 10 years of experience. Co-founder and VP Biz Dev at Mytopia, Particle Code and AppCoin. EIR at Trinity Ventures, Venture Partner at Founders Fund.
Venture-backed technology entrepreneur for over 15 years. CEO of Mytopia (acquired by 888), Founder of Particle Code (acquired by Appcelerator), AppCoin and active angel investor. Guy discovered the blockchain in 2011.
Yudi spearheads the technology creation team at Bancor, including Solidity contracts and overall architecture, and is an avid cross-platform engineer and gamer. Co-founder and CTO of Mytopia, Particle Code, AppCoin.
Social stats from Bancor
So, what do you think about the Bancor, their initial coin offering, and their promised protocol? Feel free to comment, we will gladly try to discuss with you. Also, please rate them depending on if you think their ICO will skyrocket or not:
This way we can try to find out if it is worth it to invest in them, or not.