Bancor Protocol to be Implemented on the EOS Platform

miracleman (49)in #eos • 6 years ago

It’s another week and as with any week these days you can always expect some more complimentary news regarding the EOS.IO upcoming platform.

Just today a sponsored article was posted over at The Merkle announcing that the Bancor Protocol will be implemented on the EOS blockchain allowing for cross token swaps. Bancor currently offers a successful service on the Ethereum blockchain allowing swaps of ERC-20 tokens built on the Ethereum platform which in turns increases liquidity for the entire ERC-20 market.

CTO of Block.one, Dan Larimer said:

“We see the Bancor Protocol as an elegant solution for liquidity that benefits all token holders by offering a completely new paradigm for value exchange based on efficient automated market makers, powered by auditable smart contracts. This is the future of fair, low cost and predictable value exchange, and we’re excited to bring these benefits to the EOS.IO community,”

Eyal Hertzog, Product Architect of Bancor had to say this on this new development:

“EOS.IO represents the next generation of smart contract blockchain technologies that will effectively address serious user adoption concerns such as fees, scalability, security and customizable governance. We share the vision of seeing blockchain technologies adopted by the general public, and greatly look forward to expanding the Bancor decentralized liquidity network to support EOS users all over the world,”

EOS is set for release this June 2018, the controversial uncapped crowd funding will run until then, at which point all ERC-20 tokens generated through the crowd fund will be locked and a snapshot of all registered tokens will be taken and actual EOS tokens will be issued to those who participated in the Crowdfund.

As soon as we have more details on this new development we will let you know.

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