Exciting New Integration: Online.io Will Adopt the Bancor Protocol
We are thrilled to announce that we are adopting the Bancor Protocol to provide Online.io token holders with continuous liquidity via the Bancor Network, where integrated token are instantly interchangeable for one another, including ETH, DAI and more than 100 other popular cryptocurrencies.
Bancor’s Network Token (BNT): How does it work?
Bancor’s Network Token (BNT) functions as a “token for tokens” by rendering all Smart Tokens™ in the Bancor network interchangeable for one another, according to the Bancor Formula’s automated pricing mechanism described in the Bancor White Paper. Increased purchases of any of the tokens in such a network will also increase the supply of the Network Token (since the supply of its sub-tokens has increased via new deposits of the Network Token into the connector balance). This upward pressure on the supply of the Network Token, in turn, affects every other token in its network, because their own connected token balances have increased.
Bancor creates relationships between the ever-increasing number tokens and allows conversion between them through a new kind of economic model which uses an algorithmically calculated price to balance buys and sells, keeping a constant ratio of balances held in the Smart Token’s smart contract, also known as connector weight. This connector weight is user-configured — for instance the creator of a Smart Token may choose to hold two connectors of equal weight: one holds a balance in the member token and one holds a balance in BNT, allowing the partner token to be interchangeable with BNT and, thus, any other token in the Bancor Network.
Online.io and Bancor Network Token: What are benefits?
The Bancor Protocol is a technical revolution allowing tokens to be converted without matching two parties with opposite wants. The magic is in the math, with a simple formula balancing buys and sells so that every token in the network maintains a formulaic relationship with each other. The result is continuous liquidity for the Online.io token regardless of its trade volume or exchange listings.
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 integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.
In today’s interconnected world, whether large companies will admit to this or not, they thrive on tracking the user’s every move, compiling these data in users’ profiles and in turn selling such data to other corporation or share it with governmental agencies. Another major problem on many browsers is advertisements. Advertisements may seem fine at first, but they become annoying and intrusive over time. They can even lead you to scams, malware, or use your computer’s hardware infrastructure without you knowing. Online.io comes to solve all these problems, by implementing an ERC-20 compatible token based on the Ethereum blockchain, which will allow complete transparency. With Online.io‘s solution, the user can browser the internet without the fear of being tracked, hacked or annoyed by unwanted ads.
This integration has the ability to strengthen our ties with the blockchain community and provide yet another outlet for the Online.io platform.
For more information and to participate contact firstname.lastname@example.org
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