Bancor and Gamedex to Create a GDX/BNT Token Relay for Decentralized Liquidity

Bancor, a decentralized liquidity provider startup, has secured an arrangement with Gamedex, a Steam-like platform for blockchain-powered digital collectible cards and digital collectible card games (like Hearthstone, Pokemon, Magic: The Gathering, FIFA Ultimate Team, etc).

Bancor will power Gamedex’s automatic cryptocurrency conversion feature, which will allow users the option of depositing any major cryptocurrencies to their Gamedex account and having it converted to GDX automatically when needed. In an unusual move for token-powered platforms, users won’t need to go to third-party exchanges in order to acquire Gamedex tokens; conversion will take place directly within the app.

Bancor is perhaps most known for raising $153 million in their crowdsale.

Gamedex will be performing their crowdsale, in which GDX tokens will be sold to the public, in the fourth quarter of 2018.

A joint GDX/BNT Token Relay will serve as a decentralized liquidity pool of GDX and BNT, enclosed in a Bancor-compliant “Smart Token”. This Token Relay will hold two connector balances, one in GDX and one in BNT, each at a 50% weight, and will enable users to quickly and easily transform their Ether or BNT (or any other token on the Bancor Network) into GDX.

Gamedex recently raised $800,000 in a seed round led by Invictus Capital and will be opening their GDX token-sale is currently open for pre-registration.