FintruX Network integrates with the Bancor Protocol™
We are very proud to announce that FintruX is integrating the Bancor Protocol — which will help make the FintruX ecosystem even stronger, as it will bring us one step closer to our vision of a truly global and inclusive P2P lending platform.
The Bancor Advantage
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 white paper.
What This Means for FintruX
By integrating the Bancor Protocol, FTX token holders will gain access to continuous liquidity regardless of trade volume or exchange listings. Through the Bancor Network any integrated token can be automatically converted to any other directly from any Web3 wallet, such as MetaMask. Currently integrated tokens include ETH, BNT (the Bancor Network Token), GNO (Gnosis), STX (Stox) and a long list of over 60 projects that will soon be activated.
FintruX will activate a Relay Token on the Bancor Network with 1% of the circulating token supply within one week after our FTX token distribution event in March 2018. You can think of a Relay Token as a vending machine for two token types and in this case it will be filled with FTX and BNT tokens. By activating the Relay Token, we’ll be making sure our Bancor “vending machine” is loaded so that users on our FintruX Network will always have access to all the FTX tokens they may need directly from their Web3 wallet at competitive conversion prices.
In Conclusion
For the benefit of newer members of our community, FintruX Network is the global P2P lending ecosystem powered by Ethereum and no-code development. Our goal is to make it easy for small businesses to quickly secure affordable loans with no collateral, in any currency. To learn more, please read our whitepaper.
Based on the hype surrounding our project in recent weeks, we anticipate having a huge community and massive demand for our FTX token, so it is essential to provide our users with an easy way to convert tokens. Integrating with the Bancor Network will provide continuous liquidity that will allow access to everyone who has a stake in our ecosystem.
To learn more about our Bancor, please use the links below:
Bancor, Bancor Web App, List of tokens using the Bancor Protocol
About us: FintruX Network is the global P2P lending ecosystem powered by blockchain and no-code development. FintruX facilitates marketplace lending in a true peer-to-peer network to ease the cash-flow issues of SMEs that typically face challenges getting loan financing, such as startup companies.
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