Futourist Announces Integration of the Bancor Protocol™
February 18th, 2018 — Futourist, the first travel review platform that rewards users for their content with tokens, has today announced its integration of the Bancor Protocol™, to provide continuous liquidity for the platform.
Bancor is a decentralized liquidity network based in Zug, Switzerland. Bancor completed a historic Token Generation Event in June 2017. It aims to unlock the long tail of user-generated currencies by solving the liquidity challenge, allowing any token to be convertible to any other at continuously calculated prices, regardless of volume and outside of exchanges.
By integrating the Bancor Protocol, Futourist token holders will gain access to continuous liquidity regardless of trade volume or exchange listings, through the Bancor Network™. Bancor will allow for instant conversion of Futourist Tokens (FTR) directly through Bancor’s simple Web App. Conversion is possible between FTR, BNT, ETH and any token in the growing list of tokens integrated in the network.
The Bancor Protocol utilizes a “Connector” token method which networks tokens together through formulaically calculated prices, without needing to match buyers and sellers like in traditional exchanges. Futourist will activate a Token Relay™ with 1% of its circulating token supply within the first week following the distribution of the FTR tokens after a successful completion of the Futourist Token Sale.
Futourist rewards users for their reviews with the help of blockchain technology. Futourist’s custom protocol solution enables rewarding users with microtransactions, is transparent and trustworthy and brings blockchain technology closer to mainstream adoption with simple use of the platform.
Some key features, numbers and statistics regarding Futourist:
- General Rewards (users who contribute meaningful reviews will be regularly rewarded with FTR tokens).
- Contests (companies providing contests where users will be rewarded for their content with FTR tokens).
- OpenHours platform, which Futourist will build on pre-existing infrastructure, is present in more than 20 countries and has more than 1 million monthly users.
- Nearby Offers (users will spend their FTR token on offers provided by companies signed up to the platform).
- Service reward implementation (matching the right services with the right customers using FTR tokens).
- Business intelligence (customer data provided with in-depth analytics for travel providers, restaurants, leisure equipment producers, hoteliers and many others),
- Content industry in which Futourist operates will by some expectations be worth $310 billion dollars.
- Futourist Payment Card (Futourist has already partnered up with a payment card company and it will introduce users to the potential of the blockchain in an easier way with this card — users will be able to spend their FTR tokens instantly).
Futourist will already offer pilot contests and general rewards in 2018 and a beta version is planned for release at the end of 2018. Official release will be in 2019.
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
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