Blockchain Bancor Project Breaks Fundraising

The launch of Blockchain Bancor Protocol has raised more than $ 150 million in its Tokens Generation Event that took place on June 12; the most impressive detail of this news is that the figure was completed in a time of 3 hours.

According to the TGE details, 10,885 participants contributed 396,720 ETH, equivalent to $153,003,311.63, in less than three hours. However, the Bancor Network Token (BNT) fundraiser drive faced some major problems with malicious attacks on its network, which led Bancor to extend the restriction-free hour.

In an official statement, the Bancor team said:

“In our efforts to ensure full community participation, even after overwhelming demand and traffic, exacerbated by massive malicious attacks to our network, the Bancor team opted to extend the restriction-free hour in an effort to ensure that pending transactions were completed. When the “hidden cap” was revealed, the flood of transactions that arrived was even more overwhelming. Consequently, after an unprecedented amount of capital had been raised, the Core team conscientiously closed the fundraiser.”

Major investors such as Blockchain Capital and Tim Draper, who recently joined the startup as advisor; also attended the fundraising campaign.

The tremendously successful fund-raising event follows a series of announcements from the Bancor team. The startup announced a cohort of experts joining its Foundation as advisors including Tim Draper, Brian Singerman, John Henry Clippinger, Lee Linden, Justin Rosenstein, Yariv Gilat, and Guy Corem. “Architect of the Euro” Bernard Lietaer is joining the BProtocol Foundation as its Chief Monetary Architect.

In addition, Bancor Protocol has also entered into partnerships with a number startups and initiatives in the blockchain space including Smart Contract Japan, Enterprise Ethereum Alliance (EEA), Gnosis, Status, Civic, Aragon, IMToken, Antshares, and Starbase.

Source: Blog Bancor NetworkCoindesk

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest.

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