Meet TokenBnk The Decentralized Cryptocurrency Savings Account
Meet TokenBnk The Decentralized Cryptocurrency Savings Account.
TokenBnk is the world’s first Ethereum-based savings account. The general idea behind TokenBnk is that you can deposit tokens into your Savings Contract and earn rewards in the same token you hold.
It leverages the Bancor protocol Token Changer contract in order to autonomously manage paying out rewards to users in the same base currency that they hold.
Users interact with the RewardDAO contract in order to deploy their own Savings Contract, an isolated contract which holds their funds securely.
TokenBnk provides an entirely new incentive dynamic for the future token economy. It's a fresh concept that could have large implications for how, where, and why tokens are stored and transferred.