TokenBnk claims to be the world’s first Ethereum-based savings account. Find out how it works today in our review.

What Is TokenBnk?

TokenBnk, found online at TokenBnk, is a decentralized application (DApp) built on the Ethereum blockchain. The DApp functions like a savings account: it automatically rewards you for holding Ether or ERC20 tokens.

Overall, TokenBnk is advertising itself as a better way to store crypto assets. Users can deposit tokens to generate a yield, then monitor the performance of their account using an app.

The entire system is controlled by a decentralized autonomous organization (DAO) that holds users’ funds and distributes them. That means even if development on TokenBnk is no longer taking place, accounts will continue to function based on logic encoded into the platform

The TokenBnk ICO for TBK tokens begins on November 30, 2017. TBK tokens are utility tokens on the platform, and users will need to spend TBK tokens to withdraw their savings accounts.

TokenBnk Features

TokenBnk offers features similar to a conventional savings account at an ordinary bank. Core features of the platform include:

Generate Yield:

Users deposit tokens into their savings contract, then earn rewards in the denomination of the same tokens they hold – just like you would earn interest in a bank. You can set it and forget it and watch your money work for you.

Fully Autonomous Reward Distribution:

In order to withdraw from the platform, users must pay a predetermined withdrawal fee in TBK tokens. a smart contract programmatically distributes that fee amongst all network participants as a reward proportional to the percentage of the Total Network Value (TNV) they constitute.

Get Rewarded in Whatever Tokens You Own:

TokenBnk lets you earn interest on Ether (ETH), but you can also deposit other ERC20 tokens to earn interest. The rewards a user receives will automatically get exchanged to the same token held in their savings contract. For example, if you receive 1,000 TBK as a reward and hold 50% Ether and 50% OmiseGo, then 500 TBK worth of Ether and 500 TBK worth of OmiseGo will be deposited back into your savings contract, increasing your underlying position size.


The TokenBnk protocol doesn’t require a central authority – like your bank – in order to function. It operates entirely on its own, based on predetermined logic coded into the smart contract. TokenBnk will function for as long as the Ethereum blockchain exists – regardless of the status of any centralized authority.

Mobile and Web Apps:

TokenBnk users can access their account and view performance using a mobile app or a web app.

How Does TokenBnk Work?

Here’s the basic process users can use to interact with the TokenBnk platform:

Step 1) Deposit Funds:

The user creates a savings contract via the TokenBnk web interface, then sends Ether or ERC20 tokens to it.

Step 2) Withdraw Funds:

To withdraw, the user acquires and sends TBK tokens to their TokenBnk savings contract. Once sent, the user receives their stored crypto-assets back into their wallet, and the fee is sent to the Reward DAO (Decentralized Autonomous Organization).

Step 3) Redistribution:

TBK tokens spent in the withdrawal process are received by the Reward DAO, then distributed proportionally to all TokenBnk users.

Step 4) Conversion:

TBK tokens are immediately exchanged into the currency within the savings account. TokenBnk will use decentralized exchanges like Bancor or centralized services like Shapeshift to perform this transaction. TBK tokens are immediately exchangeable into all TokenBnk-supported crypto assets.

Meanwhile, users can monitor the growth of their savings account using the TokenBnk app, which allows them to monitor portfolio growth in real time. This information is also available through a web app.

One of the unique things about TokenBnk is that the company expects the value of its TBK tokens to significantly rise during times of economic trouble. Users will be willing to pay more to withdraw their funds, and they’ll need to purchase tokens to do so. This will lead to a sharp rise in valuation for the token.

Who’s Behind TokenBnk?

TokenBnk claims its team “has built dozens of products, hails from Stanford, Princeton, Columbia, Carnegie Mellon, NYU, and has worked at Amazon, JP Morgan, Coindesk and AngelList.”

Key members of the team include Shayne Coplan (CEO) and Logan Saether (CTO). The company is based in New York City.

Coplan’s previous experience includes work as an intern at Genius (previously known as Rap Genius) and as an intern at Chronicled. He has a Bachelor of Science from New York University. Logan Seather, meanwhile, is a fullstack developer who recently graduated from Arizona State University.

TokenBnk Token Sale

The TokenBnk token sale is scheduled to begin on November 30, 2017. You can purchase TBK tokens during the token sale. TBK tokens are utility tokens used to pay the withdrawal fee.

Further details of the token sale – like total supply, funding goals, and other information – have not yet been published online or in the whitepaper. However, we expect to see this information shortly.

TokenBnk Conclusion

TokenBnk is a savings account built on the Ethereum blockchain using a smart contract. The platform generates interest in your savings account without the need for a centralized authority – like a bank. One of the unique things about TokenBnk is the withdrawal fee mechanism, where users pay a fee in TBK tokens when they wish to withdraw money from the platform.

The token sale for TokenBnk gets underway in late November 2017. You can learn more about the platform by visiting online today at

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