Bancor Exchange Token Gains 8.65% after Announcement of $1.8 Million in Airdrop
December 30th, 2019
$BNT, Bancor Network token gains 8.65% as it announces an airdrop of $BNTETH. The token will be used to provide liquidity for the exchange. In return, the holders will benefit from the trading fees.
The price of BNT at 5:00 hours UTC is $0.272. It is reached at high of 0.277 after the announcement gaining 8.65%.
These are the following exchange supporting the Airdrop.
The following exchanges & wallets support Bancor’s #Airdrop of $ETHBNT to $BNT holders:@binance @hitbtc @bitfinex @Poloniex @latokens @enjin @TrustWalletApp @Get_Scatter @metamask_io @myetherwallet @fortmatic @AlphaWallet @MyCrypto @Frontierwallet @imTokenOfficial @COSScrypto pic.twitter.com/oQIUeyb4rK
— Bancor (@Bancor) December 21, 2019
The cryptocurrency and Blockchain ecosystem is filled with people attempting to new revenue and financial models on their token.
Exchange tokens like Binance [BNB] Coin, Huobi Token [HT], and so on. Many times unsustainable revenue models turn into Ponzi schemes and other times questioned on the validity of security law.
a new model to convert token holders into revenue stream owners?
at midnight on Jan 1, @$ which is a liquidity pool token entitling holders to exchange feesis air-dropping all token holders a new token called
While Demirors is one of the leading advocates against most altcoins and has labelled them as ‘sh*tcoins’ in the past. Hence, the question of converting token holders into revenue stream does raise concerns about the projects.
Nevertheless, in a cryptic message using Avocado’s, Yoni Assia, the founder and CEO of eToro, notes,
Avocados that aren’t yet ripe are pale to dark green. Ripe avocados are dark green to greenish-brown, and an avocado that is dark brown to black is rotten. Avocados reach peak ripeness just before they begin to rot. If the avocado has only slightly rotten parts inside, it’s good
It could mean that he validates the project in the current stage, with the airdrop being free of cost. Nathaniel Hindman, the Head of Growth for Bancor, notes
All conversions on Bancor already go thru BNT (or its stable version, USDB), so fees already accrue for BNT tokens from conversions on the network. Aim of ETHBNT is to give 1000’s of users a taste of what it’s like to own a pro-rata share of a trading pair on an exchange.
The Airdrop will occur with the 1st Ethereum Block in new year 2020.