Launched in 2017, Bancor (BNT) is the only decentralized staking protocol that allows you to earn money with single-token exposure and full protection from impermanent loss. This token allows traders to provide liquidity for pools available on the network. The liquidity providers will receive pool tokens that represent their share of liquidity, fees, and liquidity mining rewards in the pool. Bancor generates millions in fees per month for depositors, offering high yield APR staking on over a handful of tokens. Since swap fees are earned, more BNT is eventually burned than what was initially supplied by the protocol. This excess of BNT is then burned to offset the cost of impermanent loss, deflating the overall supply of Bancor long term.
Bancor (BNT) is built on the Ethereum network and the EOS network. Its most compelling reason for use is that you can use Bancor to convert value between coins on different blockchains. Bancor aims to incentivize users to deposit assets into pools. The pool consists of a pair of tokens and a reserve of BNT cryptocurrency. After depositing coins in a pool, they receive a new token in return. This is known as a pool token. It allows the user to retrieve the original amount they locked in the protocol.
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Because stablecoins are often pegged to FIAT currencies with stable values, they are useful tools for currency conversion. Coins such as USDC, USDT and QCAD won't swing wildly up or down in value between withdrawal and funding another account.
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