April 15 2022
Bancor (BNT) Coin Review – An Expert Opinion
Have you checked several Bancor Coin Review online? This coin rings interest on most of you, right? Well, Here's our take on it.
Bancor Coin Review
Bancor Network is a cryptocurrency liquidity platform. Here anyone can swap tokens, and it is more like converting from one token to another.
On the Bancor network, the price of the cryptocurrencies is being calculated using algorithms. Bancor Network has a cryptocurrency/token called Bancor Network Token (BNT). All the available tokens are in a way connected directly with the price of BNT. And that way swapping a token for another token is always possible as BNT can act as a bridge between the two tokens involved in the conversion.
Bancor had a token generation event (ICO), for which, the allocation was as follow:
- 20% for Community Grants, Partnerships, and Bounties
- 20% for LongTerm foundation budget
- 10% for Founders, Team, Advisory, and Early Contributors
- 50% for Public Distribution (ICO)
- At the time of ICO, the BNT price was 0.01 ETH. The sale ended on 12th June of the last year (2017). And a whopping 153 million USD was raised in the Bancor ICO.
The current supply is around 53 million BNT tokens. And the total supply is approximately 77 million tokens.
The BNT supply has no limit or cap. The BNT token volume contracts and expands based buying and selling. That is, the token smart contract issues new tokens when a BNT purchase order is placed. And it withdraws the BNT tokens when they are sold back.
Should you buy BNT tokens?
From the way BNT volume is managed—that contracts and expands based on buy/sell orders—you should not be worried about its long-term viability. Because every time someone buys Bancor Network Token (BNT), the relevant funds, with which they are purchased, will be stored in the smart contracts.
And when someone sells back those Bancor Network Token (BNT), the smart contract withdraws the tokens and releases the funds to fuel the buyback. So, you do not have to worry. The supply depends on demand. And the more the demand, the price goes higher.
and here wraps up our take on the Bancor Coin Review. What's your opinion about the BNT? We would love to hear your thoughts about it.
Disclaimer: Cryptocurrency investment possesses high risk. And you should consider seeking help from a financial advisor.
Opinions expressed here solely belong to the author. And these views do not necessarily reflect the standpoints of PIGZBE.COM