ICO's gone Mad? Bancor Raises over $146m

in #bancor5 years ago

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Anyone remember the DAO?

Well, Bancor almost matched the largest Crowdsale in history today raising over $146m in 3 Hours.

The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. These “smart tokens” hold one or more other tokens in reserve and enable any party to instantly purchase or liquidate the smart token in exchange for any of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes.

After the first hour pretty much brought down the Ethereum Blockchain, the Bancor team extended the uncapped period of the Crowdsale from 1 hour to 3 hours. This has seen the Bancor team raise almost 400,000 Ether, 150,000 Ether more than the Cap.

Let's see how the ICO flippers get on here... The DAO struggled out of the gate, trading a merger 5% premium, before the infamous hack brought this project down. I will guess we will see similar trading action here, once BNT tokens hit exchanges.

Tim Draper and Blockchain Capital joined participants in this round. Tim Draper will join the Bancor Advisor Board alongside Bernard Lietaer and John Clippinger.

https://blog.bancor.network
https://bancor.network/
https://bancor.network/fundraiser
https://etherscan.io/address/0x5894110995b8c8401bd38262ba0c8ee41d4e4658

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Well, if Tim Draper sent ETH there, then hopefully it was not a stupid idea of me to do so as well ;D

Useful information, thanks. I wonder if any exchange will accept this crypto, considering how new it is.

Liqui have already added functionality. Because of the amount raised, I believe we will certainly see Bittrex add, and possible Poloniex or Kraken might consider.

Bancor could really do with Poloniex to add, as they are the only exchange which can support the liquidity needed for this token's price to hold up IMO

You seem to be well informed regarding new crypto technologies and ICO's. What are, according to you, the projects to keep an eye on?

Civic, Kin, Status, Omise Go, Tezos

Would you consider doing a short introductory blog about why you think these projects have a bright future? I'll research them in the meantime, thanks for the list.

Tezos will raise billions. Really, it doesn't matter how much is raised in imaginary money. The real money is fiat and how much they can actually cash out is totally different to how much they raise in imaginary value.

I missed the ICO :(

thanks for sharing info, followed.

Solid blog. I was about to post a similair thread. It's facinating how people invest 10's of millions of dollars in "just an idea". Personally I always use: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. See: https://www.coincheckup.com/coins/Bancor#analysis To see the: Bancor Detailed analysis.

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