The fact that they don’t have any listing fees is a huge plus for tokens who can’t afford the $10–15m listing fees of the big exchanges, where liquidity isn’t even guaranteed and they definitely have a nice selection!
BancorX enhances Bancor’s features by utilizing the unique advantages of building on EOS such as:
- One-second transactions (as opposed to > 10 seconds on Ethereum)
- No transaction fees (as opposed to gas on Ethereum which can reach upwards of $50)
- No front-running risk (EOS transactions are not prioritized by gas fees as they are on Ethereum)
Over 110 EOS and Ethereum-based tokens are currently convertible via BancorX. Anyone can integrate their token with Bancor’s liquidity network by staking an amount of those tokens in a smart contract which they own and manage.
A key component of this cross-chain functionality is the unique ability of BNT, the world’s first Smart Token, to automatically issue and destroy itself simultaneously on multiple blockchains. Any BNT that moves between chains is removed from circulation on the originating chain and sent to an address on the destination chain. This ensures that throughout the cross-chain conversion process, the circulating supply of BNT remains unchanged.
The tokens that will be listed in the initial phase:
- Everipedia (IQ) — blockchain-based encyclopedia
- MEET.ONE (MEET) — EOS Wallet and EOS Sidechain
- HireVibe (HVT) — jobs dApp powered by crowdsourcing
- Lumeos (LUME) — decentralized social platform
- MyCryptoBank (MCB) — crypto-fiat online bank
- Chaince (CET) — blockchain asset trading platform
- COART (COAT) — specialized EOS platform for the art market
- Prospectors Gold (PGL) — multiplayer online economic strategy game
- HorusPay (HORUS) — decentralized global payroll portal
- DEOS (DEOS) — decentralized EOS-based games
- KARMA (KARMA) — decentralized social network that incentivizes users to do good
