Rank #371

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Domain Age : Registered over 7 years ago

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Bancor Network Token Ratings Score

Last score update : 7 days ago

Bancor Network Token Price live today

Bancor Network Token (BNT) is currently trading at 0.415819 USD and with a circulating supply of 156,268,983 BNT.
Its market capitalization is 65,120,542 USD.
BNT price has moved -1.17% in the last 24 hours, with 943,843 USD worth of BNT traded on various exchanges.
Bancor Network Token currently ranks #371 in cryptocurrency rankings based on market capitalization.

About Bancor Network Token (BNT)

What Is Bancor (BNT)?

Bancor is the only decentralized staking protocol that allows you to earn money with single-token exposure and full protection from impermanent loss. Launched in 2017, Bancor was the first DeFi protocol.
Today, it generates millions in fees per month for depositors, offering up to 60% APR on tokens like ETH, WBTC, LINK, MATIC, AAVE & more. Bancor is owned by its community as a decentralized autonomous organization (Bancor DAO).
The protocol token used on the network is the “Bancor Network Token,” BNT. The protocol’s token allows traders to provide liquidity for the pools available on the network. Anyone can contribute liquidity to the pools. When liquidity providers contribute liquidity to a pool, they are eligible to receive fees for trades that pass through the pool. Liquidity providers will receive pool tokens that represent their share of liquidity, fees, and Liquidity Mining rewards in the pool.

How Many Bancor (BNT) Coins Are In Circulation?

The Bancor Network Token (BNT) has an elastic supply, afforded by the protocol's minting and burning of tokens to maintain trading liquidity levels in Bancor pools. Protocol-owned trading liquidity earns swap fees from trading volume, such that the protocol comes to hold more BNT over time. The protocol's new balance of BNT is then burned in exchange for pool tokens when LPs stake the equivalent amount of their own BNT. Due to swap fees earned, more BNT is ultimately burned than was initially supplied by the protocol. This excess of BNT is then burned to offset the cost of impermanent loss, deflating the overall supply of BNT in the long term.

How Is The Bancor Network Secured?

Bancor is one of the longest-running and most heavily audited projects in crypto, receiving stellar ratings from leading auditors including Certik, PeckShield, and Halborn. In addition, Bancor received one of the highest safety scores to date by DeFiSafety (96%) in 2021.

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