Acorn Joins The Bancor Network
After some months of informal discussion we are delighted to announce our partnership with Bancor.
Ahead of its upcoming ICO, Acorn Collective is integrating the Bancor Protocol.
The Acorn Collective aims to be the first global crowdfunding platform that is completely free to use, operates in any country and for nearly any project. The aim is to democratise crowdfunding, using blockchain to eradicate platform and payment fees, open crowdfunding to developing countries as well as mature economies, and allow communities’ projects to thrive next to larger commercial raises.
Integrating the Bancor Protocol is a natural choice. Being integrated with the Bancor protocol allows us to join the Bancor network. Since its inception, Acorn has had a structural allocation in its raise called the Liquidity Reserve, its aim to be to mitigate against large transactions on the platform and reduce price volatility. The idea being that if a project raises, say $500K on the platform and cash out, the Reserve would release those tokens slowly into the market. This is in addition to other utility mechanisms to reduce large exits. Including Bancor in the liquidity mechanism helps both mechanisms simultaneously — it allows for greater liquidity and increased price stability thanks to Bancor’s Smart Token™ technology .
Acorn will be allocating 2% of its circulating supply to its Relay Token 7 days after the conclusion of Acorn’s token generating event.
Acorn and Bancor are both long tail businesses — Acorn targets community businesses as well as big, heroic raises; Bancor connects niche tokens in a simple way to help them transact. Not only is there early liquidity for Acorn but early recognition that it sits within a suite of new, blockchain solutions to problems around accessing finance and services for entrepreneurs in developed and emerging economies. We want to encourage easier access to the blockchain, and we look forward to participating in the growth of the Bancor Network as it expands.