Tel Aviv, 17th September 2018 – Bancor Announces BancorX, the First Cross-Blockchain Decentralized Liquidity Network as it Expands from Ethereum to EOS.

“We are thrilled to announce the coming expansion of the Bancor Protocol to EOS. Bancor has ported its public code to the EOS blockchain in preparation for the launch of its decentralized cross-blockchain liquidity network supporting Ethereum and EOS Main Nets” — BancorX.

Having initially built Bancor on the Ethereum blockchain, Bancor is now evolving into a cross-chain liquidity protocol starting with added support for EOS. Bancor will allow users to perform instant EOS-based token conversions against its automated smart contracts, also known as Relays. Relays give users an easy way to always buy and sell tokens without having to deposit funds on an exchange and without the need for order-matching between buyers and sellers. Anyone can create a Relay on EOS and connect it to Bancor’s liquidity network by staking tokens in a smart contract which they own and manage. The EOS-based tokens listed on Bancor will soon be instantly convertible to any Ethereum-based token through the Bancor Protocol.

For now, Bancor has released its open-source smart contracts on EOS as well as a simple user interface that processes EOS-based token conversions on the Test Net using Scatter, the most popular EOS web wallet. Projects can create a Relay on the EOS Test Net to automate the fair, low-cost and efficient trading of their token on EOS directly from their users’ wallets. Both the functionality and user interface are embeddable within any environment for projects seeking to integrate cross-chain automated trading into their platforms. The release also gives users a glimpse into the benefits of Bancor on EOS including:

1-second transactions (As opposed to > 10 seconds on Ethereum)

No transaction fees (As opposed to gas on Ethereum which can reach upwards of $50)

No front-running risk (EOS transactions are not prioritised by gas fees as they are on Ethereum)

As the first and largest decentralised liquidity network, the Bancor Network has processed over $1.5 billion in token conversions in a little over a year since launching on Ethereum. Bancor has facilitated affordable and accessible liquidity for over 120 Ethereum-based token projects, who join the network with no listing fees. As some of the most promising blockchain projects launch on EOS to deliver speed and scalability to their users, Bancor is hard at work expanding its technologies for the EOS ecosystem and will soon announce the first EOS-based tokens to go live on BancorX. As is the case on Ethereum, projects pay zero listing fees to join the network.

Another way to get involved with Bancor on EOS is through our newly launched EOS bounty program. We encourage the community to take a deep dive into our code and uncover any issues in Bancor’s EOS smart contracts. Over 500,000 BNT is up for grabs for developers who improve the contracts or user interface.

Stay tuned for further details in coming weeks on how BancorX will function. We cannot wait to unleash the power of Bancor’s automated cross-chain liquidity across the EOS and Ethereum ecosystems, bridging two enormously powerful shared global infrastructures towards a growing and interoperable blockchain industry.

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