By 
May 6, 2017
Review: Bancor
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.
Bancor (BNT) | ICO Status: Finished | 12.06.2017 |
| Concept: 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 cases. 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 in reserve. Whitepaper: Get more information  |
||
Venture  | Raised Capital: $140 Million  Venture Round: Round 1  Price ICO price = 100 BNT : 1 ETH  396,720 Ether Raised | ICO Token Distribution: (so who gets how much BNK tokens): 50%: Crowdfunding 20%: Community Grants, Partnerships & Bounties 20%: Long-term Foundation Budget 10%: Founders, Team, Advisors and Early Contributtors |
Mining  | Supply: Uncapped ICO target: hidden ETH cap, to be revealed at 80% Vesting: 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  | ICO Launch: 12. June 2017 at 14:00 GMT ICO Finish: 12. June 2017 at 18:00 GMT ICO Tradable on Exchanges since: - |
|
Offices/Locations  | Switzerland | |
Team behind Bancor
Eyal Hertzog
Foundation Counsel
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
Business Development
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.
Guy Benartzi
Foundation Counsel
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.
Yehuda Levi
CTO
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 [sossy-social-profile id=”84522″ hide=”description”]
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.
- AgentMile Announces its ICO - Jun 27, 2018
- Problems the CRE Industry Can Address by using Blockchain Technology [Part 2] - Jun 10, 2018
- Problems the CRE Industry Can Address by using Blockchain Technology [Part 1] - May 30, 2018
- Introduction to AgentMile, a Decentralized CRE Leasing Platform Powered by AI - May 22, 2018
- Giveaway: 1x CB Blockchain Conference Ticket - Mar 17, 2018
Great sharing !!. Btw how to buy this ICO?
Regards.
Hey wan!
You will simply need to transfer ETH from your wallet to this address: 0xBbc79794599b19274850492394004087cBf89710 – but not before the fundraiser starts June 12, 14:00 GMT!
Here you can find the exact terms of the Bancor ICO: https://bancor.network/fundraiser
What is the fastest way to buy ETH if you have no other ALTCOINS currently.. I don’t have MIST , so what should I do to atleast be able to spend 1 ETH on this ICO ..
Special guide for you Dillon: https://www.coinstaker.com/how-to-join-initial-coin-offering-ico/
Best Regards,
Philip
I ended up getting my ETH into the walley but an error came back, and the ETH was never returned nor do I see any BNC
Maybe you have sent the transaction after the ICO has ended?
Sorry how do I verify this address?
Hey David, what exactly do you mean by verify? What do you want to see/know?
We have updated the terms of the Bancor (BNT) ICO! We will probably jump and invest a little bit into this coin offering, since lately all coins just go up and bancor is better than most! 🙂
And don’t forget BNT will be sent to your ETH address within a few weeks of crowdsale’s end!
Find other Initial Coin Offerings here.
Best Regards,
Phil
It will make money on the ICO, but I am certain they will damamage there company and reputation with uncapped sales
Thanks for your comment!
It is important to note, that the bancor ico is only uncapped for the first hour.
But I’m also not 100% convinced, that this secrecy model is the way to go. It surely creates a hype…and that is what they want.
I think this will result of a top5 ico ever – though I hope that there doesn’t happen a DAO 2.0.
Edit: Is your biggest fear, that the Bancor team dumps all the Ethereum and in this way destroys the current ETH momentum?
Do you accept bitcoin payment?
No. I will try to make a fast guide on how to get ETH asap 🙂