The current price of Bancor (BNT) is $0.5708 USD**, with a 24-hour trading volume of **$4 million USD. Over the past 24 hours, BNT has seen a +0.00% price change. The circulating supply stands at 115.19 million BNT, with a maximum supply capped at 114.23 million BNT.
What Is Bancor?
Bancor is a decentralized exchange (DEX) built on the Ethereum and EOS blockchains. It specializes in providing liquidity for small-to-micro-cap tokens and offers yield opportunities for liquidity providers. Unlike traditional exchanges, Bancor uses an Automated Market Maker (AMM) model, eliminating the need for buyer-seller matching.
The Bancor Network Token (BNT)—an ERC-20 token—serves as the platform’s native asset, enabling transactions and granting voting rights within the Bancor DAO.
Key Features:
- Decentralized liquidity pools
- Single-token staking (reduces impermanent loss risk)
- Cross-chain interoperability (Ethereum/EOS)
👉 Discover how to stake BNT for rewards
Bancor’s Historical Milestones
Founded in June 2017 by Eyal Hertzog and Guy/Galia Benartzi, Bancor made waves with one of the largest ICOs in blockchain history, raising $153 million USD in just 3 hours. As a pioneer in AMM-based DEXs, Bancor introduced innovative solutions for on-chain token swaps.
Major Events:
- July 2018: A hack resulted in losses of 25,000 ETH and 230 million NPXS tokens. Bancor’s team recovered BNT but faced criticism over centralization.
- 2020: Transitioned governance to a DAO, empowering BNT holders to vote on protocol upgrades.
- March 2021: Launched Bancor V2.1, introducing single-sided liquidity provision to mitigate impermanent loss.
How Bancor Works
Bancor’s protocol relies on smart contract-powered liquidity pools that execute trades algorithmically. Unlike centralized exchanges, liquidity is crowdsourced from thousands of users who earn transaction fees.
Unique Advantages:
- 100% impermanent loss protection for single-token stakers
- Permissionless participation (true to DeFi principles)
- Cross-chain swaps via BNT intermediation
👉 Learn about Bancor’s staking mechanics
Use Cases for BNT
- Staking: Earn rewards by locking BNT in liquidity pools.
- Governance: Vote on protocol changes via the Bancor DAO.
- Cross-Chain Bridges: Facilitate token swaps between Ethereum and EOS.
Inflation Note: New BNT tokens are minted as staking rewards, subject to community approval.
FAQ
1. What is Bancor’s main innovation?
Bancor pioneered AMM-based liquidity pools, enabling decentralized trading without order books.
2. How does Bancor protect against impermanent loss?
By allowing single-token staking, users avoid exposure to paired assets, eliminating traditional LP risks.
3. Can BNT be used across blockchains?
Yes! BNT acts as a bridge token for swaps between Ethereum and EOS.
4. Who governs the Bancor protocol?
BNT holders vote via the Bancor DAO to approve upgrades and policy changes.
5. Where can I stake BNT?
Liquidity pools on Bancor’s platform accept BNT deposits—rewards are distributed in newly minted tokens.