bancor airdrop
Bancor To Launch Liquidity Token Airdrop Paving For DeFi Adoption
November 28, 2019
bancor airdrop
Bancor To Launch Liquidity Token Airdrop Paving For DeFi Adoption
November 28, 2019

Bancor, the decentralized liquidity network announced on its upcoming airdrop.

On Nov. 27 Bancor announced that the launch of the airdrop will commence on New Year’s Eve. The decentralized exchange platform also said that it will give away its ETHBNT liquidity pool tokens to 60,000 people. 

Liquidizing DEX’s

Liquidity pools allow members to add liquidity to a decentralized exchange (DEX) and receive a portion of the exchange’s trading fees in return. DEXs are made more liquid so that it can compete with the centralized exchanges.

Users will be able to either hold the token and start receiving fees from each Ether based trade on Bancor, or they can trade it for any other token on Bancor, including ETHEOS, and Dai (DAI).

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A spokesperson of Bancor said that the purpose of the airdrop is to improve liquidity while expanding on the use of decentralized finance (DeFi) applications.

Bancor claims that airdrop would increase the number of DeFi app users by 500%:

“There are probably about ~10K total users of DeFi products today. Bancor’s airdrop will instantly create 60K+ DeFi users, without these users having to take any action. So overnight, as the ball drops, we will 6X the number of DeFi users.”


Source: Bancor | Cointelegraph


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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.