The Tap Project Joins the Bancor Network™
We are excited to announce the integration of the Tap Coin into the Bancor Network for decentralized liquidity!
This integration will allow anyone to easily and continuously buy and sell TTT for ETH, BNT (Bancor Network Token) and any other token in the Bancor Network. Holders of BNT will likewise be able to convert their tokens into TTT, all from a simple Web App, at formula calculated prices. This announcement comes as the Tap Project gears up for its upcoming Token Sale.
What is the Tap Project?
TapCoin (TTT) is a utility token that allows gamers to convert earned in-game premium currencies to TapCoins that can traverse multiple platforms and games. Simply put, gamers can now better monetize their time by achieving liquidity across various gaming ecosystems, thanks to TTT. The integration into the Bancor Network further allows for seamless liquidity of TapCoins into any other token on the Bancor Network — giving gamers unprecedented reach for their virtual achievements.
The Bancor Network allows token holders to convert any Smart Token™ (such as TTT) for the network token (BNT), and then convert the network token for any other currency in the network — all in one easy move.
How does this work?
The Bancor Protocol standardizes Smart Tokens, which hold one or more “connector” token balances in their smart contracts. These Smart Tokens can be bought or sold by depositing or withdrawing any of their connector tokens. Conversion prices are calculated according to the Bancor Formula, which balances buys and sells of the Smart Token while holding the connector “weight” (relative ratio of the connector balance to the Smart Token’s supply) constant. This automated conversion mechanism allows for predictable pricing, continuous convertibility, no spread, no fees, no counterparty risk and relative stability.
As the value of BNT rises with more token integrations, so too will the value of TTT, as it is now correlated to its BNT connector. Additionally, Tap Coin (TTT) will continue to use the ERC-20 token standard, which is compatible with all exchanges and wallets.
We are extremely excited about this innovative decentralized integration and cannot wait for what the future holds for both Bancor and The Tap Project.
About The Tap Project
The Tap Project is a multi-platform in-game cryptocurrency that allows gamers to convert their earned in-game currencies for Tap Coins! Learn more about The Tap Project here (www.tapproject.net)
“Fueled by gamers, inspired by the community, disruptive to all.”
Try our Alpha: http://platform.tapproject.net
Join us on Telegram: https://t.me/tapcoin
Visit our website: www.tapproject.net
Bitcoin Talk ANN : https://bitcointalk.org/index.php?topic=1978576.msg19697076#msg19697076
Bancor Protocol™ is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “Connector” method to enable formulaic price calculation and continuous liquidity for all compliant tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. For more information, visit the website and read the Bancor Protocol™ Whitepaper.