CWEX Integrates Bancor Protocol to Facilitate Liquidity for Its Token Holders
CWEX, a new cryptocurrency allowing wine traders and cryptocurrency holders to trade and hold fine wine, has announced its integration of the widely-adopted Bancor Protocol to facilitate liquidity for its CWEX tokens. CWEX adoption of the protocol will have a significant impact in increasing the accessibility and utility of its tokens to the masses.
The Bancor Protocol is a decentralized and reliable infrastructure that provides liquidity
among ERC20 and EOS tokens. Its token, BNT, is consistently in the top 100 in market capitalization, and its ease of adoption gives rise to many growth opportunities for new cryptocurrencies like CWEX, empowering the formation of a long-tail of small-scale tokens.
The integration of the Bancor Protocol will give CWEX token holders access to continuous
liquidity regardless of trade volume or exchange listings. This is possible through the Bancor
Network, where any integrated token can be automatically converted to any other token from the Bancor Wallet or any Web3 Wallet such as MetaMask. As a result, CWEX users will be able to buy and sell CWEX tokens using more than 130 ERC20 and EOS tokens in the Bancor Network, including ETH, EOS, BNB, BNT, OMG, and many other tokens.
By leveraging the capabilities of smart contracts to build liquidity directly into tokens, the Bancor Protocol acts as a non-profit automated market maker, facilitating instant conversions that are fully on-chain, from pricing to settlement.
CWEX CEO, Jacob Kallupurackal, is excited for the possibilities that the Bancor integration will bring to CWEX token holders:
‘’The strong reputation and growing number of tokens on the Bancor Network makes it an ideal place for CWEX holders to convert their tokens. The accessibility of our tokens will be a powerful advantage as we spearhead compatible partnerships with a variety of businesses and tokens in the global market,” he said.
CWEX is a new cryptocurrency allowing wine traders and cryptocurrency holders to trade & hold fine wine on www.cwinex.io exchange in CWEX/EOS/BTC/ETH/NEO/USDT.
The CWEX exchange aims to establish easy to access and easy to use fine wine trading platform. Backed up by its partner, DotChain GmbH based in Switzerland, it guarantees anonymity and security of investment by providing blockchain based ownership certification to each bottle of wine traded on the trading platform.
Bancor is the world’s largest decentralized liquidity network. Bancor functions similar to a
decentralized exchange, with a key difference: orders are processed against automated smart
contracts on the blockchain, instead of matching two parties in a trade. Any project can easily
integrate their token by creating a Relay on the Bancor Network to automate fair and efficient
token conversions for users, directly from their wallets. Tokens on Bancor are instantly
convertible for one another, with 8700+ trading pairs across ETH, EOS, DAI, BNB & more. Bancor technologies impact organizations and people across the globe, from blockchain teams to token holders to real-world communities in Africa, Asia and beyond. Visit the Bancor Web App to convert tokens instantly, list your token on the Bancor Network or join the Bancor Telegram group for more information.