Because it is highly profitable for new types of economies to exist within a token market of growing robustness.
Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements
The 22 June of 2017 marked a historic event of the cryptocurrency world – the birth of BNT, the first smart token that has eventually been activated at 2 pm GMT. This smart contract introduces new mechanisms that have never been used on the Ethereum blockchain.
Interestingly, this is the first time, an ever-liquid token has ever been developed live in the field. The ability to transfer, purchase and liquidate BNT through the smart token’s contract will be enabled gradually during 7 days following the fundraiser closing. BNT can be easily purchased by sending ETH to an address – which immediately issues BNT tokens back to the sender, updating its current price. The fundraiser will run for two weeks or as long as the hidden cap is reached. Founders and team contributors will be subject to a three-year vesting schedule.
According to the Bancor protocol, a standard for a new generation of cryptocurrencies, the price of BNT increases no matter when it is purchased and decreases in the meantime of selling. Both of these processes depend on the transaction size that maintains an exact 10% reserve ratio, which is always available and consists of its market cap. Given into consideration a security matter, funds are held via multi-sig wallets according to industry best practices.
One of the most important key features of BNT is that it does not relate to buyers and sellers in any exchange. Tens of millions of dollars have already been deposited into and removed from the BNT reserve via this smart token contract and it goes without saying that it is an absolute sensation. In addition, this novel pricing model relies on buys and sells, neither speculation nor slippage.
Judging by different markets, it is evidently true that the smart token unprecedentedly provides a price anchor across exchanges and reduces its own volatility. The post-TGE price charts of popular token sales illustrate that the rise as well as fall is smoother than anything analytics have ever seen.
The mission of BNT is to achieve the stability, which is ultimately healthier for real usage, by real people, in real communities, without any speculators and crashes. BNT has already been traded on Bittrex and Liqui and it will be issued on other exchanges this week.