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What is Bancor (BNT)?

Bancor, established in 2017, is a decentralized exchange protocol built on Ethereum and other blockchains. It automates the exchange of digital assets, particularly targeting smaller cryptocurrencies that lack liquidity. Bancor provides these coins with liquidity and rewards liquidity providers. It functions like an automated market maker (AMM) without relying on traditional financial institutions. BNT, Bancor's native token with a fixed supply of 69 million, along with ETHBNT, are central to the platform. Bancor incentivizes users to deposit assets into liquidity pools, utilizing BNT and smart contracts for fast, low-fee trades. Pools consist of token pairs and BNT, the reserve currency. Depositors receive pool tokens redeemable for their original deposit. BNT acts as an intermediary du...

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