We are excited to announce that MDT is integrating with Bancor protocol. Now you can convert any tokens available on Bancor to MDT!

What does it mean exactly?

You can think of Bancor as a bank helping you convert US Dollars into UK Pounds. The difference is, it is the algorithms, rather than bankers, that process the conversion for you. The transactions will be recorded on public blockchain instead of an internal system of a bank.

By integrating the Bancor Protocol, MDT holders will gain access to continuous liquidity regardless of trade volume or exchange listings. Through the Bancor Network, any integrated token can be converted to any other directly from any Web3 wallet, such as MetaMask.

Users will soon be able to transform any token on the Bancor Network into MDT through a widget that will reside on our website first. (Details will be announced soon)

How does it work?

After MDT integrates with Bancor, it will create a MDT/BNT Token Relay. This Token Relay will hold two connector balances, one in MDT and one in BNT, each at a 50% weight. This allows MDT to be convertible with any other token in the Bancor Network, at a formulaically calculated price.

The higher the balance held by this Relay Token’s connectors, the higher its liquidity depth in the Bancor Network, and the lower its price slippage, meaning that larger conversions can take place at expected rates.

For example, if you want to purchase a few MDT with BNT (the token launched by Bancor), BNT will be first converted to MDT/BNT Token Relay, which will then be converted to MDT. Each of the conversions will cost 0.1% fee, so the combined trading fee will end up at 0.2%.

What are the advantages for you to use Bancor?

Efficiency : Convert tokens via smart contract at anytime regardless of buyers, sellers or trade volume

: Convert tokens via smart contract at anytime regardless of buyers, sellers or trade volume Security ：No deposit required, no centralized exchange involved, more control over your funds and more resistant to hacking attempts

：No deposit required, no centralized exchange involved, more control over your funds and more resistant to hacking attempts Convenience: No registration required, on-chain conversions directly from your web3 wallet

Want to convert other tokens to MDT on Bancor? This video tutorial by Bancor will tell you step by step how to do that!

Attention: Any transaction on Ethereum blockchain needs ETH as gas fee, even if you are not trading ETH. So always remember to keep some ETH aside.