Daneel Integrates Bancor Protocol to Provide Token Liquidity for Daneel Assistant Users

More exciting news from Daneel HQ! DAN tokens have now adopted the Bancor Protocol, increasing token liquidity for token holder and future Daneel Assistant users.

To create an account, please refer to this tutorial on Youtube: https://www.youtube.com/watch?time_continue=2&v=eDqn2mTv4p8

So what’s Bancor? Although on the surface Bancor operates similarly to an exchange, it is actually a decentralized liquidity network, not a token exchange. It’s because technically, tokens in the Bancor Network are converted​, not traded or exchanged.

Bancor strives to provide a new standard for cryptocurrencies, one that enables any token to be natively convertible for the nearly 100 tokens in the Bancor Network, including ETH, EOS and DAI. The Bancor Protocol utilizes a “connector” method which networks connected tokens together through formulaically calculated prices, without needing to match buyers and sellers. Instead, conversion is done directly within a token’s smart contract. This built-in market making based on algorithmically calculated prices greatly benefits tokens and their holders with increased stability and continuous liquidity.

It allows currencies that are hardly ever traded to have a market price and liquidity — this is something that wasn’t possible with today’s typical exchanges.

Although DAN is already available on a number of exchanges, including HiTBTC, Etherdelta and IDEX, integrating Bancor Protocol will facilitate easy conversions across all cryptocurrencies.

Last month, Bancor Wallet became available, too, enabling anyone to purchase tokens with any major credit or debit card and instantly convert them to any token in the Bancor Network.

Curious about Bancor? Watch the video below to learn more about the goals and the protocol of the project.

Insert video here: https://www.youtube.com/watch?v=P8EoAvWfFnY

The Bancor Protocol is a standard for the creation of Smart TokensTM, 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 integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.