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Bancor (BNT) is Constructing a Link to the EOS Network

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Bancor is an Ethereum-based DApp and a decentralized cryptocurrency exchange (DEX) protocol. It is one of the most popular dApps on the Ethereum network. As per its recent announcement, it will bring trustless token trading to the recently-launched and widely-discussed EOS blockchain.

Bancor partner and Israel-based block producer LiquidEOS made the announcement on Monday, which has since been heavily edited.

Funded through an ICO that raised a then-record $153 million in 2017, Bancor averages around 350 daily active users, according to DappRadar. The number of users, though low compared to centralized exchanges, ranks it among the most popular DApps in the cryptocurrency and digital asset ecosystem.

Bancor partner and Israel-based block producer LiquidEOS made the announcement on Monday, which has since been heavily edited.

Users will be able to trustlessly exchange between tokens that run on the EOS blockchain, using the Bancor protocol as an intermediary. More importantly, they shall be able to trade EOS and select EOS-based tokens against the more than 120 Ethereum-based ERC-20 tokens presently supported on Bancor, all without relinquishing custody of their funds.

Dan Larimer, CTO of Block.one and the creator of multiple cryptocurrencies commented that they see the Bancor protocol as a beautiful solution for liquidity that benefits all token holders by offering a completely new paradigm for value exchange.

Dan Larimer, CTO of Block.one and the creator of multiple cryptocurrencies commented that they see the Bancor protocol as a beautiful solution for liquidity that benefits all token holders by offering a completely new paradigm for value exchange.

The present version of the announcement covers limited details about Bancor's EOS dApp. Nevertheless, the new platform is referred to as EOSX Liquidity Network, as per an earlier and more detailed version of the LiquidEOS blog post. It also included a graphic that used the name BancorX. That graphic included a link to eos.bancor.network, which also calls the platform BancorX. None of the versions of the announcement clearly stated when BancorX would go live.
It is to be noted that BNT, the native token of Bancor ecosystem is trading at $1.36 at the time of reporting. On a 24-hour scale, it has seen losses of around 0.41 percent. At press time, the overall volume of BNT is about $72 million.

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