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Bancor

    Bancor

    Bancor is a decentralized network of on-chain AMMs supporting trading, Single-Sided Staking, and 100% Impermanent Loss Protection.

    founded

    August 2016

    treasury

    n/a

    market

    $110M

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    mission

    Innovating simple and safe solutions to earn money in crypto. We aim to facilitate simple and safe decentralized trading and yield access.

    culture & values

    • Cutting-edge innovation 
    • Reinventing 
    • Disruptive 
    • Counter culture 
    • Smart

    history

    Bancor launched on June 12, 2017, with the most extensive initial coin offering. It raised $153 million, distributing half of the initial BNT supply. Bancor was the first DEX to use an AMM to facilitate swaps between Ethereum-based tokens. Instead of a central order book that matched buyers and sellers according to their bid and ask prices, the AMM fulfilled orders with on-chain liquidity pools.

    In July 2018, an attacker stole 25,000 ETH, 2.5 million BNT, and 230 million NPXS tokens from the Bancor protocol. The team was able to recover, freeze, or destroy the stolen BNT, but no ETH nor NPXS were recovered. The Bancor team's recovery sparked controversy about the protocol's centralized governance that enabled the team to manipulate the BNT supply unilaterally. The event pushed the team to decentralize its platform by transitioning governance to a DAO. The Bancor went live towards the end of 2020. BNT holders can propose and vote on upgrades and protocol governance issues.

    We launched Bancor V2.1 in March 2021 with new BNT supply and governance updates to address issues common to AMM exchanges.

    core team

    Galia Ben-Artzi - Co-Founder

    Guy Ben-Artzi - Co-Founder

    Yudi Levi - CTO

    Eyal Hertzog - Product Architect

    Ilana P. - VP of Engineering

    benefits

    Crypto is the place to be right now, given that it's in a serious, competent, and responsible team.

    We offer you just that, plus a modern stack, a passion for quality - and our guidance and attention to your personal growth.

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