Bancor Protocol allows anyone the ability to create a digital currency on the Blockchain protocol. No technical skills necessary. Think User Generated Currency (as they describe it). Bancor makes it easy to create and manage a “crowdsale” too. Galia Benartzi from Bancor recently pitched the company at Jason Calacanis’ LAUNCH in San Francisco. You can watch her pitch video below. Their first customers will be other crypto startups who are looking to do ICO’s.
Bancor is part of the Bprotocol Foundation which was established in 2017 in Switzerland in order to promote the development and adoption of the Bancor protocol.
Bancor describes itself as the “standard for creation of intrinsically tradable cryptocurrencies or ‘Smart Tokens’”. Today Bancor has announced a collaboration with WINGS, an Ethereum-based platform that uses the power of crowds for discovery and promotion of projects seeking funding, to help value and promote the upcoming crowdsale of the Bancor network.
According to Bancor, members of the WINGS DAO will be able to forecast on the result of the upcoming Bancor token sale June 12th, and share their forecasts with their social networks. The platform explains that accurate forecasts will receive higher payments rewards which are said to be as high as $250,000.
Members of the public will be able to see the forecasts of their social connections as well as aggregations of the crowd’s sentiment for Bancor. The WINGS DAO community will have the chance to evaluate and provide feedback on the Bancor network token ICO.
Boris Povod, President of the WINGS Foundation Council, called Bancor a “truly innovative concept” in the cryptocurrency space.
“We designed WINGS to allow people from all over the world to value and promote projects they believe in and are excited to have a team and project as strong as Bancor to be the first crowdfund presented to the WINGS community,” said Povod.
Once the Bancor crowdsale ends the WINGS DAO will be rewarded based on the performance of the crowdsale with a mix of Bancor token and Ether capping at $250,000 – depending on the reception. WINGS token holders will be able to collect their algorithmically determined forecasting reward, based on the math model.
“We are excited to work with WINGS on harnessing the power of the crowd to help people evaluate the sentiment around the Bancor Protocol project. Bancor at its core is about allowing mass participation in the emerging value network economy, and this is another great way to bring people in and empower individuals to participate actively”, says Eyal Hertzog, Cofounder and Chief Product Architect.
Bancor protocol is an initiative of the Bprotocol Foundation, a nonprofit organization based in Zug, Switzerland. Bancor protocol is a standard for the creation of Smart Tokens, a new category of cryptocurrencies which are intrinsically tradable.
WINGS Foundation is based in Switzerland as well and comprised of a decentralized team of professionals aiming to bring blockchain-enabled projects to the mainstream via forecasting.
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