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Bancor Aims to Increase the Number of DeFi Users by 600%

Other 2019/12/02 02:00 by JP Buntinx
TheMerkle Bancor Concerns

The world of decentralized finance has captivated a large audience. Pushing this concept to new heights is what the Bancor team aims to achieve.

It is certainly true that decentralized finance is gaining traction globally.

A new Airdrop by Bancor

This business model follows the concepts of decentralized exchanges and decentralized applications in the cryptocurrency industry.

Improving upon the existing liquidity will prove challenging, as it is still a rather niche market. 

Bancor seemingly has big plans in this regard.

As the leading decentralized liquidity network, Bancor will organize a new airdrop in the coming weeks.

The objective is to create ETHBNT tokens and distribute those to 60,000 individual wallet owners.

These tokens are then to be used to add liquidity to a decentralized exchange.

Bancor expects this move to get more people excited about decentralized finance in general.

As more users can benefit from the rewards by bringing liquidity to DEXes, the industry could continue to thrive.

Another option for token holders is to exchange ETHBNT to other tokens active on the Bancor protocol today.

As this airdrop will occur on December 31, it remains to be seen how much of a response it draws.

Cryptocurrencies and their associated projects have struggled to retain mainstream attention for longer periods of time.

Even when giving away “free money”, the overall enthusiasm dissipates fairly quickly. 

Keeping that in mind, it remains to be seen if the DeFi movement will remain relevant by this time next year. 

Image(s): Shutterstock.com

The post Bancor Aims to Increase the Number of DeFi Users by 600% appeared first on The Merkle Hash.

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