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Bancor (BNT) has been proposed as a guarantee on Maker


I know he has open a proposal official to make the Bancor (BNT) token become a guarantee of the Maker protocol and therefore be used to generate the stablecoin DAI.

It should be noted that the various proposals to adopt or not adopt a type of token as a guarantee, along with its parameters, are agreed by the project community that votes on the proposals using MKR tokens.

If the majority approves the proposal, the Maker team proceeds to implement it. For example, last month, both Kyber Network (KNC) as 0x (ZRX) is introduced as collateral thanks to this system.

How does Bancor work?

Bancor (BNT) is a chain protocol that provides liquidity to all the tokens that are in the Ethereum (ETH) blockchain but also in EOS, since it is possible to create groups in a completely decentralized way.

The Bancor project is declared agnostic with respect to the various blockchains, so in the future the protocol will be extended to other blockchains, while it is now preparing to launch the new version of the protocol.

This version 2 of Bancor will allow having a single exposure in a token by providing liquidity to a group, unlike traditional ones where the exposure is double for all tokens.

This possibility allows Bancor eliminate non-permanent loss, also thanks to the integration of the Chainlink (LINK) solution to have a constantly updated price.

Bancor has all the requirements to become a guarantee for the Maker protocol, since it is possible to create a stable currency linked to BNY, called USDB.

As a result of the proposal, Bancor's price is growing in a terrifying way: in fact, if we take its historical low that took place in mid-March during the market crashNow we see that it is trading at $ 1.49, making an increase of 1354% in just 5 months.

This also shows that the vulnerability Found, which was later resolved in a few hours, has not affected the integrity of the project, and considering the fact that the next version v2 will be released in the coming weeks, there is a possibility that users are positively anticipating the news.

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