Decentralized Exchange Bancor officially launches the enhanced V2 platform
After months of work, Bancor V2 is finally released with the promise of improving the user experience for both merchants and liquidity providers.
The Bancor project has released a highly updated version of its decentralized exchange, promising to solve what it calls “DeFi’s dirty little secret” “DeFi’s dirty little secret”
According to a blog post viewed on Friday, the contracts have been implemented on the mainnet in a beta release mode. Each group will have a liquidity limit of $ 1 million until a “group administrator” permanently removes the limitation when it is confirmed to be safe. It is putting energy in the form of money to search for and find programming flaws.
As Cointelegraph previously reported, the exchange mitigates the problem of non-permanent loss, where liquidity providers could lose some of their money as prices of certain assets fluctuated. The solution involves a combination of incentives and prices based on oracles or, more graphically, oracle-driven price feeds.
Additionally, the project split the single group token that represents the collective value of a particular exchange pair, so that users are no longer required to be exposed to two assets at the same time.
Finally, an improved “bond curve” should result in less slippage than before given the same amount of pool liquidity.
The launch was preceded by the launch of open source code and the launch of a bug bounty program
As information, it is good to keep the following information in mind:
Bancor is a blockchain network that functions as a cryptocurrency conversion platform. Unlike popular exchanges, Bancor allows its platform to be used to exchange between different tokens such as, for example, ETH for EOS, or vice versa. This avoids the need to go to third parties.
The platform has its own token that works as an intermediary token for exchanges. The main feature of this token is that it is both an ERC-20 token and an EOS token.
This platform allows the exchange between different tokens not to be expensive. Usually, you would have to go to crypto exchanges, which charge fees for each transaction, and sometimes, you have to make multiple exchanges to get a certain cryptocurrency, which makes the process even more expensive.
On the other hand, Bancor not only saves us money, but the time will also be much less making the change on the platform.
Bancor has its Bancor Protocol which is inspired by a currency balance system conceived (balance by John Maynard Keynes and EF Schumacher in 1944). The creators of the Bancor project have linked the advantages of the system with those of Blockchain technology.
The project continues in development towards a dApps market and to achieve a greater capacity of possible tokens for exchange on the platform.
BNT is the platform’s token and its total supply is 73,605,657 BNT. Their supply does not depend on mining, but the tokens will be created as needed.
The token represents the value of the tokens included in the smart contract and is used as a medium for transactions.
This project will have its place in the blockchain-bitcoin ecosystem, as the genesis of the revolutionary cryptocurrencies, all rely on this technology, the new projects improve the possibilities of generating wealth from the technology registered in the cryptos. New announcements expected
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.