Bancor Decentralized Exchange and Liquidity Network ETHBNT Token Airdrop to Adopt More DeFi Users
Bancor has announced its New Year’s Eve liquidity token airdrop on November 27.
The decentralized exchange platform is going to give ETHBNT to 60,000 people. Liquidity pools are known for allowing members to add liquidity to decentralized exchanges (DEXs) in order to receive in return a part of the trading fees. It’s important to make DEXs more liquid because this helps them compete with centralized exchanges. Users can hold their token and receive fees from Ether (ETH)-based trades taking place on Bancor. They can also trade it for any other one they find on Bancor, perhaps with EOS, ETH or Dai (DAI).
Bancor Expects to Increase DeFi Users by 500%
A spokesperson for Bancor explained how the airdrop’s goal is to increase DEX liquidity and to make more people use the decentralized finance (DeFi) apps. Bancor expects the DeFi users figures to increase by 500%. This is what the spokesperson said:
“There are probably about ~10K total users of DeFi products today. Bancor’s airdrop will instantly create 60K+ DeFi users, without these users having to take any action. So overnight, as the ball drops, we will 6X the number of DeFi users.”
Bancor Fights Poverty with PoA Protocol
Bancor is fighting poverty in Kenya by implementing its consensus algorithm based on Proof-of-Authority (PoA) into programs. It gives Kenyan local communities, including a number of 20 schools and 1,000 businesses, the opportunity to buy and sell local currencies with crypto or with credit cards. The project started in July 2018, and it helps people and entrepreneurs make money.