We’re very excited to share that Fortmatic will be supporting Bancor’s upcoming ETHBNT airdrop to celebrate the New Year! 🔥
What you need to do:
- Hold BNT on January 1st at 12:00 am EST
(Amount you hold will be snapshotted) - Receive the ETHBNT airdrop in your Fortmatic wallet
(You’ll receive 10% of your BNT holdings as ETHBNT, e.g., 100 BNT will give you ETHBNT worth 10 BNT) - Earn fees from every ETH-based trade on Bancor by simply holding ETHBNT!
How to get BNT for the airdrop?
Method 1: Buy BNT
You can buy BNT or convert your crypto to BNT directly on Bancor.Network and 1inch.exchange — both are integrated with Fortmatic!
You can then manage all your purchased BNT tokens on Zerion!
Method 2: Add Liquidity
You can also add liquidity to a Bancor liquidity pool via the 1inch.exchange lending experience, and here’s a more detailed guide written by Bancor on how to do this.
Users holding pool tokens at the time of the BNT holder snapshot will also receive the ETHBNT airdrop!
What exactly is ETHBNT?
It’s a new type of token introduced by Bancor called “pool token”. The ETHBNT pool tokens represent shares in the ETH:BNT liquidity pool, a smart contract which processes all ETH-based trades on Bancor and collects fees from each trade.
Pool tokens like ETHBNT allow users to own a piece of a trading pair on Bancor and generate fees from its volume.
Anyone can add liquidity to a pool through Fortmatic simply by buying pool tokens — for example, buying DAIBNT tokens adds liquidity to the DAI:BNT liquidity pool. DAIBNT tokens then generate fees from DAI-based trades on Bancor.
This novel mechanism — enabling market-making in a few clicks, with no central entity controlling the process — not only introduces new opportunities for everyday token holders to earn passive income but it also fundamentally changes how DEXs operate.
DEXs based on liquidity pools enable efficient pooling of liquidity from the bottom up — that is, from everyday users, instead of liquidity creation being reserved for professional market makers. If you hold a project’s token, you can easily acquire a piece of its liquidity on an exchange and directly benefit from its trade volume.
Low liquidity plagues not only decentralized exchanges but also centralized ones. Putting everyone’s tokens to work in on-chain liquidity pools may be one solution.
As a result of Bancor’s upcoming airdrop, every one of its token holders — 60,000+ users if the airdrop occurred today — will receive free ETHBNT pool tokens and, in turn, get a taste for owning a small part of an exchange.
Read More
You can get more info about Bancor’s ETHBNT and the airdrop on Bancor’s blog post as well!
Fortmatic offers an SDK for developers to implement their own authentication and key management experience for decentralized applications built on the Ethereum blockchain. Users will no longer have to wrestle with browser extensions like MetaMask and securing their seed phrases.
Learn More: fortmatic.com
Documentation: docs.fortmatic.com
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