Bancor, the automated market maker, accounting for 5% of the decentralized exchange (DEX) volume, saw its TVL (total value locked) doubling to $1.66 billion and breaking into the top 10. Maker is at the top spot with more than $7 billion in TVL, followed by Compound and Aave at $6.7 billion and $5.17 billion, respectively, as per DeFi Pulse. The DeFi project is now planning to have phase two of Vortex out by introducing a flat protocol fee that uses swap fees to buy and burn vBNT. Each vBNT represents a BNT token locked in the protocol forever, which will create upward pressure on price. 5% of swap fees will be used for this. The token BNT is currently trading around $7.82, up more than 500% YTD. The full Vortex roll-out is expected to be done in the next two weeks. On Thursday, Bancor’s Twitter account posted another development, a Swiss private bank Maerki Baumann with over $9 billion in assets under management, is now accepting BNT along with other cryptocurrencies including BTC, LTC, ETH, BCH, XRP, and USDT. And just recently listed a poll on their Twitter asking which crypto should be next, with options of Polkadot (DOT), Uniswap (UNI), Cardano (ADA), or Stellar Lumens (XLM). The bank offers both trading and custody services. “The ability to participate in DeFi through a bank may be closer than we think,” read the tweet.
“Dark Horse”: BNT Burn Is Around the Corner As A Swiss Bank Embraces Bancor
bitcoinexchangeguide.com
19 March 2021 14:50, UTC