Bancor profile
Bancor Profile (BNT)
Rating: C | Good
Balanced Small Cap
Project Safety Score

Wed, Jan 26, 2022 5:38 AM

C
Rating Good
Market Cap $553052272.50784
24hr Volume $26628532.442479
Price $2.309532503212
Review

Bancor

token

Ethereum

Bancor is a blockchain protocol that allows users to convert between different tokens directly as opposed to exchanging them on cryptocurrency markets. The project offers a network, which we’ll discuss soon, that works to bring liquidity to the majority of tokens that lack a consistent supply/demand in exchanges. That network is built on smart contracts and a new class of cryptocurrencies that the team calls “Smart Tokens.” Bancor is looking to provide support to the illiquidity that currently exists within the cryptocurrency market. Illiquidity isn’t so much an issue for top coins like Bitcoin or Ethereum because there are always buyers and sellers looking to exchange those coins. It is definitely an issue, however, for the thousands of other tokens that may serve legitimate decentralized purposes but haven’t attracted enough attention in the market to be liquid. Bancor’s protocol uses smart contracts to create Smart Tokens, which serve as an alternative mechanism for trading. A key characteristic of the protocol is that it doesn’t call for an exchange of tokens with a second party, as in the case of cryptocurrency exchanges. Rather, it employs Smart Tokens to convert between different ERC-20 tokens internally. These conversions take place through the blockchain’s protocol and completely outside of cryptocurrency exchanges. Smart Tokens process token conversions internally by holding reserves of other ERC20 tokens within their Smart Contract. They can then convert back and forth between those reserves as users request it. The Bancor team consists of a core Foundation Council and their Advisory Board. The Foundation Council includes four individuals based out of Zug, Switzerland. Bernard Lietaer is a Belgian civil engineer, economist, author, and professor. Lietaer specialized in monetary systems and promotes the notion of communities creating their own local currencies. Guy Benartzi serves as co-founder and is recognized for founding the gaming company, Mytopia. Benartzi also co-founded Particle Code, a development studio based in Tel Aviv, Israel. Guido Schmitz-Krummacher is an executive of the Bancor Protocol foundation that’s involved with a variety of commercial entrepreneurial ventures in Switzerland. His involvement in the crypto space includes that of Bancor as well as an executive position in crowdfunding network, Tezos (XTZ). One of the key elements of the Bancor Network is the automated pricing. This comes from the Smart Tokens’ built-in automated market makers. These automated market makers mean that the tokens’ smart contracts always buy or sell Smart Tokens from or to any user in exchange for any connector token (as well as any token found in the network). The price comes from the Bancor Formula. This formula that is responsible for balancing a Smart Token’s demand and supply while also maintaining the ratio between the token’s total value with the connector token balances. The creator of the Smart Token configures these ratios, known as the connector weight. The creator can adjust them with the goal of decreasing or increasing the liquidity level of the token. The connector weight indicates price sensitivity, or how much sells and buys affect the price movement. Any time the prices no longer syncs with prices listed on external exchanges, the arbitrageurs will quickly balance the gaps."

Read more in the whitepaper:
https://about.bancor.network/static/bancor_protocol_whitepaper_en.pdf

Bancor Smart contracts and audits.

Below are the available smart contract addresses and any associated contract audits.

ETH: 0x1f573d6fb3f13d689ff844b4ce37794d79a7ff1c

Bancor Project Statement

Project statements are provided by senior members of the project team and serve to tell the reader why the project has honorable intentions and why is definitely not a scam.

Please get in touch to submit a project statement for this project. Emails must be sent from official domain email addresses and will be verified before being accepted.

Full Report

Bancor Safety Report

Bancor has a safety score of 5.86

Bancor is a small cap token.

Bancor is suited to a balanced investment style.


Bancor Profile

This profile has enough data to perform a thorough analysis. But any missing data will have a negative impact on the overall rating.

Missing Data:
  • tradingview profile

Bancor Red Flags

There are currently no Bancor red flags.


Bancor Development Score

The Bancor project has 29 active source code repositories.

The most recent commit was Sun, Jan 23, 2022 1:01 PM

  • 193 Watchers
  • 974 Stars
  • 111 Mentionable Users
  • 0 Vulnerabilities
  • 15 commits in the last 28 days.
Highlights:
  • very high stars
  • extremely high repo stars
  • daily repo updates
  • poor watchers
  • poor mentionable users

Bancor Sentiment Score

The sentiment score indicates how well the wider community regards the project. We analyse social media platforms such a Reddit, Twitter etc to access if the community is talking positively or negatively about a project. Or if they are even talking about the project at all!
The more articles that are available to analyse, the more confident we can be about the score. If there is not a lot of data available on the internet to use, this should be a redflag as it can indicate that no one is posting or writing about this project.

Highlights:
  • The overall sentiment is very positive
  • Enough of a collection of articles to be just about confident of the sentiment

Bancor Community Score

The community score indicates how active community is. Are they writing lots of articles and engaging in lots of conversations on the web? Where is the crypto communities attention spent? There are so many hours in the day to spend writing, reading, researching a project. So how much of this time is spent on Bancor?

The larger a community is then the more eyes are on that project. Sharing information, red flags and concerns is more likely the bigger the community is. And larger communities are alot hard to censor and control - therefore they provide a diverse range of opinions.

Overall Bancor has a strong community, posting and creating lots of content across the internet on social media, forums, blogs and websites.

Highlights:
  • extremely high hashtag tweets
  • extremely high gitHub account watchers
  • below average reddit articles

Bancor Awareness Score

The awareness score indicates how well Bancor is known in the main stream. Its all very well for a project to have a discord channel to have 1000 users chatting all day about how great the Bancor is but a good measure of longevity is how well the project is known by the general public.

Overall Bancor this project is not known by the general community. If a project is new and has not had a lot of marketing or exposure then in general as the project grows the awareness score will increase.

Highlights:
  • poor search result total
  • poor number of news articles mentioning Bancor
  • very low number of headlines about Bancor
  • very poor number of Bancor YouTube videos

Bancor Credibility Score

The credibility score indicates how credibility a project is. Does it have a ridiculous name? Is it run by a 13yr old in their basement? Is it just 2 days old and too early to tell?

Highlights:
  • Mature project age (released Jun 18, 2017)

Bancor Volume Score

The volume score is the simplest of all our metrics and quite often the bottom line metric. It doesnt matter how well a project scores on the other factors, if it is only shifting a few thousand dollars a day in volume then there is a high chance you will left holding a bag

Highlights:
  • average USD 24hr volume

Red flags come in all shapes and sizes

At the end of the day a cryptocurrency project requires you to part with your hard earned cash in order for it to become succesful.

You expect a level of transparency and professionalism from a project that is asking for your money.

There are all sorts of red flags which you should be weary of;

  • 404 (missing) websites
  • Expired SSL certs
  • Malware/Hijacked sites
  • Suspended Twitter accounts
  • Private Subreddits
  • SEC investiations

If you spot anything suspicious/resolved then please let us know.

Bancor Red flags
  • No red flags
    No red flags have been identified. That doesnt mean its a 100% safe project, it just means that no red flags have been brought to our attention.

BNT
Member Ratings (BNT)

--/5

0 reviews
Ratings and reviews left by our members do not impact the profile score.
No reviews
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No one is talking about Bancor, be the first to start the conversation.

Do you think Bancor is a scam project which will disappear in a rug pull in the next few months or do you think Bancor is here to stay?

And more importantly let us know your experience and warn others if you have noticed something suspicious.

95%

Profile Status

How complete is this profile:

1 missing data point

This profile is still waiting for the following data points

  • tradingview profile

Member Signals

--/5

(no reviews)
Member Ratings
Market Cap Rank:
98
Voted:
--
Bulls v Bears:
neutral
Is Trending?
Member signals do not affect the profile score.

Bancor Reddit

Bancor Github

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