Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 238. (Read 375909 times)

Bancor Progress Update
October 24, 2017

Dear Community,
It’s been a heads down month at Bancor as we crossed another milestone, the activation of the first Smart Token™ and Token Relay™ on the Bancor Network™, added a string of new partners and refined the language we use to describe the Bancor ecosystem.

Product Updates
The STX (Stox) Smart Token™ and the GNOBNT (Gnosis) Token Relay™ have both been activated by the respective projects and are live in the Web App. Now anyone can convert ETH, BNT, STX and GNO at algorithmically calculated prices determined by the Bancor Formula, directly through our Web App, at any time. This is one small step for Bancor and one giant step for the industry, as the world’s first smart contract enabled autonomous conversion mechanism. You can read more in the dedicated post and check out the STX and GNO token community pages in the app. Expect many more projects to adopt the Bancor Protocol™ shortly…
Smart Contract Upgrades

We pushed a great upgrade to the Bancor Smart Contracts, including the following features and enhancements:
Gas limits to level the transaction playing field and prevent line jumping
New terminology across many entities (read more on this below and expect to see rolling changes throughout our contracts and materials)

Further gas limit optimizations to reduce transaction costs even more
Allowing the purchase of Token Relay™ tokens with a single transaction
Allowing sending of results of a transaction to another user
Cleaner design, more separation between modules and less dependencies between converters, and more…
New Terminology

After a long and thorough process with the best minds in the business, we have finalized new terminology which more accurately describes the Bancor ecosystem and its various components. As is often the case with new inventions, we at first must use old words to describe new ideas. The lexicon below is adapted to reflect the autonomous and interconnected pieces that together create the Bancor decentralized liquidity network.
The Bancor Protocol™ — This is the method described in our whitepaper by which a cryptographic token is related to another. The source token is a “Smart Token™” and its related token is called a “Connector” (formerly known as reserve.)
The Bancor Formula™ — This formula governs the price relationship between a Smart Token™ and its Connector. The ratio balances buy and sell volumes while holding a token’s Connector “Weight” (see below) constant. The formula incorporates transaction size so each buy and sell affects the price as if it were executed in infinitely small increments.
Weight — The weight of a Connector (formerly known as CRR) is the ratio between the Connector balance and the Smart Token’s Total Token Value (which is its supply x unit price.) This creator-configured parameter defines the sensitivity of a token to its Connector: A higher weight results in higher liquidity and greater stability, while a lower weight results in lower liquidity and lower stability. The weight of a Connector is held constant by the Bancor Formula while the Smart Token’s supply and Connector balance both rise with purchases and fall with sells, mandating that the price fluctuate accordingly.
Smart Token™ — A Smart Token™ can be purchased for any of its Connectors and sold for any of its Connectors, directly through the smart contract. Beyond its initial creator-configured supply, a Smart Token™ is created when it is purchased and destroyed when it is sold. Because of the fraction in the Bancor Formula, Smart Tokens™ with a total Connector weight of less than 100% increase in price as their supply increases (when purchased) and decrease in price as their supply decreases (when sold.) While demand still governs price, the supply of a Smart Token™ is dynamic and adaptable, not finite.
Token Relay™— A Token Relay™ is a unique kind of Smart Token™ with two Connectors, with a combined total weight of 100%. This configuration allows for simple integration of existing ERC20 tokens into the Bancor Protocol, making them backwards compatible. The new Smart Token™ created (for example, GNOBNT) is purchasable with either of its Connectors, and can be sold for either of its Connectors, making it a conduit for converting one to the other. Token Relays™ in the Bancor Network™ hold one Connector in BNT and the other in an existing ERC20 token, thus enabling the latter to convert into any token in the network, via BNT, which is itself a Smart Token™ (with a 10% weight ETH Connector.)
The Bancor Network™ — Every token utilizing BNT as a Connector is part of what we call the Bancor Network™ and thus convertible for any other in the network through a maximum 2 hop process via BNT. The Bancor Network™ allows for autonomous, continuous, asynchronous convertibility between integrated tokens. This is the world’s first and only decentralized liquidity network.

The Bancor Web App — This front-end UX allows users to create a Smart Wallet™ on the Bancor Network™ which they can use to buy and sell any token in the network by interacting with the Smart Token™ contract and convert between them at their formulaically calculated prices. This app will soon be widgetized and portable to any online or mobile destination for easy use throughout Bancor Network™ members’ ecosystems.

https://blog.bancor.network/bancor-progress-update-325c648dfb3a

What happening with this coin? devs promised buy all tokens and price will never less than 0.01 ETH. But price always under 0.01 ETh (0.006 right now). 

will smart token contract have fee or commission function like token relays ??

I will try to ask someone from the team on telegram if they plan to visit this thread more often. At the moment they expanded their social media channels and are very active on all of them. So regarding informations I think we have many options to follow the latest news.

Maybe Discord can be appropriate replacement, but telegram is just not good enough.
Yes slack become sick place but it is still essential for all projects. I would like this place to be more active, this is moderated thread why they do not  work on this? Few posts weekly can restore faith in this project.  At least they can inform us about latest news.

What's bad in leaving troll and scam infested slack? It's the worst social app of all current popular ones anyway. Maybe they should go to discord also, besides telegram.


Yes, demand right now just isn't there, but since Token Relays are showing up on the platform and BNT could be used as a Connector there should be more people wanting to buy (also from new tokens communities). Also right now is bad season for most altcoins, and I think this will be the case until end of the year. So I'm just holding and waiting for Bancor developement. Like a BOSS

I see that the Bancor all goes well! The price drop is the general trend of the market (against the background of growth of Bitcoin).
In a Bancor Network constantly adding new members. So, today Papyrus joined to Bancor Network .

And this is very bad decision!
This is not because of Bounty programs, project is not performed like typical PnD token, and whales are not interested at the moment. Someone recently said that this token holds it's value in parity with dollar - No, Token loosing value, because of BTC . Also I have heard a lot of nonsense how this token cannot be pumped..This is wrong every token or coin on exchanges can be manipulated, without exceptions. This price is reflection of low demand. Unfortunately we cannot win every time and we cannot expect every our decision to be instantly rewarded. Wait and hold.

The amount of bancor tweets by Japanese has increased a lot recently, have you been promoting there?

I think this project should value like 20M max right now, we can expect a big drop of half value soon.. It will be tradable arroung 10k sat next month IMO

Drops are characteristic to projects with high bonuses or very high bounties. But it mostly regulates in time.

i agree with the point of view that we should not worry about the dropping price, but i think the main reason why people noisy outside is that they believe in this project and invest with real money but this project gives little profit which is less than expectation, especially the team charge too much during ico

i really like the way team are working on this projects and its good to see it.
I am not concerned about the price now...

more easy to ban and block users... ok bancor 

Nothing to get worry about the dropping price. 1 token is still equal so much value and nothing to do with marketcap and prices volatility. Bancor is the first project providing real solutions and that's we see a lot of important partenership with famous campaigns. The price will pump again when investors understand the real value of the Bancor Protocole. Keep Working Team

The slack migrates completely to telegram: https://t.me/bancor

https://steemit.com/blockchain/@bancor-network/community-announcement-the-bancor-slack-group-migrates-to-telegram

Succefull project Bancor. Just checked the contest about guessing the bitcoin price. good luck everybody

And i think we will see rise near spring, not earlier.
Bancor is cool project and in $ price is near ICO lvl or a little lower.
But for ICO investors Bancor is really hard project.

I think October - November are very dump months... things will start to rise after December.

Why bancor is alway dumping, dumping and dumping? My ICO price was 0.0014 btc, I lost too much.