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Bancor price, market cap on Coin360 heatmap


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0.00002342 BTC
Market Cap (Rank#227)
4,852 BTC
Vol 24h
101.953 BTC
Circulating Supply
Max Supply
33 days agocryptodaily
Circle Reveals Detailed USDC Reserve Report
The payments management firm has released a detailed reserve report, revealing that its USDC stablecoin is backed only by cash and short-term treasury bonds. Full Reserve Report To Win Trust In a bid to practice transparency and instill trust among its customers, Circle Internet Financial has released a full breakdown of its USD Coin (USDC) holdings. Although the report is unaudited, it does offer customers more clarity on Circle’s $55.7 billion reserves. As of June 30, Circle holds $42.12 billion in short-term United States Treasury bonds with an average maturity of 43.9 days, and the latest expiry date being September 29. Since the maturity is less than three months, these bonds are all considered short-term. The report also included the CUSIP number of the bonds. Additionally, the reserves also held $13.58 billion in cash at US-regulated financial institutions like the Bank of New York Mellon (BNY Mellon), Citizens Trust Bank, New York Community Bank, Signature Bank, Silicon Valley Bank, Silvergate Bank, and US Bancorp. Monthly Reserve Report Circle has also announced that it will release regular monthly reports of its stablecoin reserves. In fact, the company is also working with its custodians to get approval for daily disclosures of its holdings for maximum transparency with investors. In a blog post, Circle CFO Jeremy Fox-Green wrote, “The USDC reserve is held solely in cash and 3-month U.S. Treasuries, held in segregated accounts for the benefit of USDC holders, and is entirely separate from Circle’s operations…While U.S. policymakers work to enact federal regulations for stablecoins, Circle continues to increase our transparency based on new industry innovations and what USDC holders within our ecosystem would like to see.” USDC Rising Amidst Stablecoin FUD The detailed report comes at a time when the stablecoins, in general, are going through a rough patch. The market is riddled with a credit crisis, and several stablecoins have lost their price peg. It all stemmed from the Terra debacle, when the then-third-largest stablecoin, TerraUSD (UST), lost its dollar peg and came crashing to the ground. It has also resulted in increased scrutiny over crypto firms and their finances, as many investment firms face liquidity issues and file for bankruptcy. However, Circle’s commitment to regulatory clarity seems to be paying off as its USDC stablecoin is climbing the rankings due to the continued rise of DeFi. In fact, it has motivated the firm to expand its stablecoin operations beyond the US dollar with the launch of the Euro Coin (EUROC), which is fully backed by the Euro. The firm had previously raised $400 million to develop USDC’s role in traditional finance. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
50 days agocryptodaily pulls Dogecoin and Shiba Inu from Crypto Earn has revised the number of tokens that will be available on their Crypto Earn program, with Dogecoin and Shiba Inu being among the coins that will be removed from the platform’s Earn feature. The cryptocurrency exchange is one of the largest in the world, cementing their status as a key player in the industry over the past few years, and stamping their brand on the former Staples Center, now known as the Arena. However, with the past few months of instability in the cryptocurrency markets has faced some difficult times. With some major changes in the industry, and cutting around 5% of its workforce, CEO, Kris Marszalek shared the decision to cut down the workforce as part of the “difficult and necessary decisions to ensure continued and sustainable growth for the long term”. The announcement titled ‘Crypto Earn Updates: Changes to Available Tokens and Revised Rates for Select Stablecoins’, is part of a re-shuffle that included a further announcement that it has started accepting Apple Pay in its app for U.S. users. “In addition to the new tokens and revised rates, the following tokens will no longer be available on Crypto Earn: SHIB, DOGE, XTZ, MKR, EOS[...]FLOW, KNC, ICX, COMP, BIFI, ONG, GAS, STRAX, BNT. Existing fixed-term allocations for these tokens will remain unchanged and continue until the term ends. Funds from any active flexible-term allocations for the tokens listed above will be automatically returned to users’ Crypto Wallet by 28 June 2022, 10:00 UTC.” The removal of Dogecoin and Shiba Inu from resulted in a dip of Cronos (CRO), the utility token of the platform, as users criticised for the removal of the popular meme coins. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
53 days agocryptodaily
Crypto Weekly Roundup: Horizon Hacked, Solana’s Crypto Phone, OSC’s Crypto Exchange Crackdown, Ronaldo’s NFT Endeavour, And More
The market is still in recovery mode. Regulators across the globe are getting strict about compliance issues. On the other hand, another cross-chain protocol fell susceptible to its vulnerabilities. Let’s find out more. Bitcoin Binance CEO Changpeng Zhao is trying to be the voice of reason, saying that the market fluctuations are a part of a nascent industry like crypto. Colombia has elected a pro-Bitcoin president who had strongly favored the digital currency in his speeches. DeFi Harmony’s cross-chain protocol, the Horizon Bridge, has been hacked, leading to a loss of funds of around $100 million. DYdX has announced that it is parting ways with Ethereum to launch its own standalone blockchain. Leading DeFi protocol Bancor has come under fire after it paused the impermanent loss protection program, citing extreme market conditions. Altcoins Solana Labs has partnered with OSOM to develop a new android device, which will function as the first mobile phone for the Solana network. Cardano developers have announced that the Vasil Hard Fork upgrade has been pushed back by a month to iron out a few minor bugs. Technology Facebook CEO Mark Zuckerberg has expressed that he wants to build a “creator economy” that will attract a billion people by the end of the decade. Tether has announced that it will roll out a sterling-backed stablecoin next month while the UK attempts to make London a world crypto hub. Business Coinbase is shutting down the professional branch of its trading platform, Coinbase Pro while bringing the professional trading features to Banking giant Citibank has announced that it has partnered with Swiss firm Metaco to develop a digital asset custody platform. Regulation The Ontario Securities Commission has taken enforcement action against the two crypto exchanges, Bybit and KuCoin, on charges of securities law violation and unregistered operations. SEC Commissioner Hester Peirce has stated that she does not support crypto company bailouts and that it is better to “let these things play out.” The incoming governor of the Philippines’ central bank is not a fan of cryptocurrencies and has said that these digital assets are based on the “greater fools theory.” NFT Global football megastar Cristiano Ronaldo has signed an exclusive NFT partnership with the leading crypto exchange, Binance for enhanced fan experiences. Despite the lack of activity in the NFT space due to the market downturn, Uniswap has acquired the NFT marketplace aggregator Genie for an undisclosed sum. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
58 days agocryptodaily
Bancor Under Scrutiny After Pausing Impermanent Loss Protection Citing “Hostile Market Conditions”
Decentralized Finance (DeFi) protocol Bancor, often considered a pioneer in the DeFi space, has come under fire after it paused the impermanent loss protection program. The pause was done citing extreme market conditions and comes at a time when liquidity providers need the protection the most. Hostile Market Conditions Leave Bancor No Choice Bancor announced that it was pausing the impermanent loss protection (ILP) program for the time being in a blog post posted on Monday. The DeFi protocol cited extremely hostile market conditions for the unprecedented move but stressed that the pause on the impermanent loss protection is only a temporary measure designed to protect the protocol and its users. The post stated, “The temporary measure to pause IL protection should give the protocol some room to breathe and recover. While we wait for markets to stabilize, we are working to get IL protection reactivated as soon as possible.” What Is Impermanent Loss? Once a user provides liquidity to a liquidity pool, the ratio of the assets they have deposited could change later. This could leave some investors with more of the lower-valued token, referred to as impermanent loss. The Bancor protocol used its own liquidity to fund the impermanent loss protection program, staking its native BNT token in pools, and then used the collected fees to reimburse users for any temporary loss they may face. This process employed by Bancor burned excess BNT tokens when trading fees became more than the cost of impermanent loss on a given stake. ILP was introduced in 2020 and was given several upgrades and refinements with the launch of Bancor 3 back in May 2022. However, the recent market collapse had a significant impact on the DeFi space as well, leading to several measures taken by DeFi protocols, such as Bancor pausing the ILP. An Unhappy Community While Bancor has stressed that the pause is temporary and done only to protect the users and the protocol, the larger crypto community was quite unhappy with the decision, taking to Twitter to criticize the protocol. Many felt that it was unfair to pause the impermanent loss protection when liquidity providers need it the most. The host of the crypto podcast, UponlyTV criticized the decision, tweeting, “What is the point of impermanent loss protection if it just disappears when u most need it? LOL.” A Research collaborator at Paradigm, a Web3 investment-focused firm, painted a much more dire picture after doing a little more research into the claims around impermanent loss protection by Bancor and stated that it could lead to another spiral collapse. He also questioned the strategy behind the LIP compensations and stated that Bancor’s game of impermanent loss is collapsing. “They print new BNT to compensate underwater LPs and call it ‘IL protection. The cost is transferred to BNT holders via inflation, which causes further IL to all other BNT pairs, and leads to further inflation. A death spiral. “Except Bancor doesn’t *actually* reduce IL in any way. Like SUSHI, they just throw more incentives at the problem to compensate LPs. this strategy will always collapse at scale.” BNT Token Value Plummets Meanwhile, the turmoil has significantly impacted the value of the BNT token, which has plummeted 65% in just over a week, with the token price down 95% since hitting its all-time high. The crisis and liquidations at Celsius and Three Arrows Capital have had a significant impact on the DeFi space, with companies liquidating their assets to pay back lenders. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
58 days agocryptopotato
DeFi Protocol Bancor Pauses Impermanent Loss Protection Feature Amid Liquidity Crisis
Bancor reassured its users that the IL protection feature will be reactivated as soon as possible.
59 days agocointelegraph
Bancor pauses impairment loss protection citing 'hostile' market conditions
Veteran DeFi protocol Bancor came under heavy scrutiny for pausing the impairment loss protection program at a time when liquidity providers need it the most.
85 days agocryptodaily
Uniswap Achieves Significant Milestone, Crosses $1 Trillion In Trading Volume
Uniswap hit its second major milestone in less than a month as the decentralized exchange (DEX) crossed the $1 trillion figure in trading volume. The DEX had hit 3.9 million cumulative users earlier this month, another significant milestone. The surge in trading volume is seen as an endorsement that Uniswap maintains its status as one of the top protocols in the Decentralized Finance (DeFi) space. Significant Growth Potential Uniswap has managed to cross $1 trillion in trading volume in just three years since its launch. This figure comes from a relatively small user base, which can be seen as a sign that there is significant potential for growth. Data from Uniswap Labs has indicated that the decentralized exchange hit 3.9 million cumulative addresses after just three years. Uniswap Labs are a significant contributor to the development of the protocol and its surrounding ecosystem. Uniswap shared the news on Twitter on the 24th of May and observed, “As of today, the Uniswap Protocol has passed a lifetime cumulative trading volume of $1 Trillion. Over the past three years, the protocol has Onboarded millions of users to the world of DeFi, Introduced fair and permissionless trading, and Lowered the barrier to liquidity provision.” Expanding Support Currently, Uniswap is supported on Ethereum and several other layer-2 scaling solutions, including the likes of Optimism, Arbitrum, and Polygon. Uniswap also revealed that the decentralized exchange would be expanding to other EMV-compatible chains, the Gnosis Chain, and Polkadot-based parachain, Moonbeam. Leaving the Competition Behind Uniswap has become the undisputed leader in the DEX markets when it comes to trading volumes, ranking far ahead of its competition. According to data from CoinGecko, Uniswap’s V3 protocol had generated over $932 million worth of volume over the past 24 hours. This figure represents a staggering 33% of the market share. This leaves the 2nd-ranked PancakeSwap x2, which generated a trading volume of $491 million, considerably far behind. However, the figure pales in comparison when comparing the 24-hour data with bigger, centralized exchanges. Its 24-hour volume of $938 million places it much further behind entities such as Binance ($12.2 billion), FTX (1.95 billion), and Coinbase ($1.79 billion). However, the DEX is ahead of some more prominent players in the crypto space, such as and Kraken. Uniswap also boasts of nearly $6 billion in total value locked (TVL) across Polygon, Ethereum, Optimism, and Arbitrum. This is a far greater number than its competitors, such as Sushiswap and Balancer ($2.1 billion), Bancor ($631 million), and 1inch ($10 million). The only protocols that have more TVL are lending protocols Curve (9.1 billion), Market Capitalization Still Falling Despite the impressive numbers, Uniswap’s market capitalization has been following a downward trend for over a year. In May 2021, Uniswap’s fully diluted market cap stood at $33.3 billion, and the UNI token was priced at around $42. However, today the market cap has dropped to $5.3 billion, while the UNI token has plummeted to around $5.50. However, according to several reports, this is not unique to Uniswap, with the entire DeFi sector in the grips of a bear market since 2021, with several top protocols losing significant value. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
97 days agocryptopotato
Bancor Version 3 Launched on Mainnet
Bancor 3 focuses on DeFi liquidity solution to enable healthy on-chain liquidity and sustainable yields for all ecosystem players.
98 days agocryptodaily
Bancor 3 Goes Live Partnering with Polygon, Synthetix, Yearn, Brave, Flexa, Nexus Mutual & 30+ DAOs
Bancor Network, the first AMM-enabled DeFi protocol, announced its latest upgrade, Bancor 3 is going live with support from top crypto partners. The decentralized finance (DeFi) liquidity protocol aims to boost DeFi projects and the ecosystem, empowering token projects and their holders to drive healthy on-chain liquidity in their native tokens. Furthermore, the new updated Bancor 3 will introduce new features that will unleash a wave of innovation and developments in the DeFi space while maintaining its simple user interface. Announced Today, the project launch has already attracted over 30 token projects including Polygon (MATIC), Yearn (YFI), Flexa (AMP), Enjin (ENJ), Nexus Mutual (wNXM), and WOO Network (WOO). These projects will provide seed liquidity on the network and offer incentives on Bancor via the protocol’s new customizable Auto-Compounding Rewards system. “Polygon is excited to utilize Bancor 3 to build decentralized liquidity for $MATIC token holders. Bancor’s Single-Sided, Protected liquidity solution makes it easier than ever for our DAO and token holders to safely stake and earn $MATIC while driving community-sourced liquidity that powers low-slippage MATIC trading,” a statement from the Polygon team reads. Launched in 2017, Bancor has provided liquidity solutions in the DeFi ecosystem, enhancing decentralized trading and staking opportunities for its community. The platform offers users a DeFi trading and staking protocol with single-sided liquidity & 100% impermanent loss (IL) protection. Overseen by the Bancor DAO, the protocol's mission is to bring DeFi mainstream by providing the simplest and safest way to trade and earn passive income in DeFi. Following a two-year growth period for liquidity staking and yield farming in DeFi, DAOs and token communities are still searching for a simple, safe, and sustainable way to drive on-chain decentralized liquidity. Looking at most of the projects, the strategies employed by token projects to create long-term liquidity have proven ineffective. Most liquidity mining programs aimed at incentivizing liquidity attract “mercenary” yield farmers who farm and dump token rewards, while the risk of IL causes even loyal token holders to withdraw liquidity when rewards expire. With the launch of the Bancor 3 live network, projects will create more sustainable liquidity pools by protecting participants against the risk of Impermanent Loss. Token holders are less likely to withdraw liquidity when rewards expire since they’re protected from value loss and can continue earning with less risk and zero maintenance. “Bancor has become one of the largest sources of on-chain AMP liquidity for good reason: It is a safer and simpler way to stake,” Flexa said. “With Bancor 3, we’re doubling down on our belief in Bancor by seeding our pool with AMP liquidity and providing auto-compounding rewards to our token holders who stake their AMP on Bancor.” The new updated Bancor 3 features In its quest to provide the ultimate DeFi liquidity provision solution, Bancor 3 live version introduces a number of novel features that simplify liquidity provision and encourage broad and sustainable involvement in on-chain liquidity markets. First, the upgraded version introduces the ‘Omnipool’, a new protocol architecture that consolidates token liquidity in a single, virtual pool, minimizing gas costs and increasing efficiency and usability at every touchpoint. Bancor 3 also introduces an unlimited single-sided staking protocol that allows users to provide liquidity and earn yield in a single token pool, reducing the chances of IL. Additionally, the new upgrade introduces an auto-compounding rewards feature, whereby trading fees and rewards auto-compound inside the pool, while simultaneously serving as liquidity from day one. Third-party token projects can also incentivize liquidity providers with auto-compounding rewards free from Impermanent Loss giving them an opportunity to earn dual rewards. Bancor 3 will also feature a smart portfolio tracker, a new front-end interface that makes the process of providing liquidity, managing positions and tracking profits refreshingly easy. Finally, the upgraded version also ensures all deposited tokens receive 100% impermanent loss protection instantly, compared to the 100 day-limit on previous Bancor versions. Mark Richardson, the Product Architect at Bancor, said: “Bancor has spent the past several years creating the equivalent of high-yield savings account for DeFi: Deposit your assets, sit back and earn. By helping token projects and their users safely and simply tap into DeFi yields, Bancor 3 enables robust and resilient on-chain liquidity markets that drive healthy token economies.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
99 days agocoindesk
Bancor 3 Goes Live With Polygon, Yearn, Others as Partners
The new impermanent loss-protected liquidity solution aims to make DeFi staking easier for DAOs and their token holders.
99 days agocointelegraph
Bancor 3 goes live with impermanent loss protection for liquidity providers
Bancor’s new liquidity mining strategy promises to bring organic on-chain liquidity and make DeFi staking easier for DAOs.
226 days agocryptonomist
Grayscale adds AMP and removes Bancor from Defi Fund
Investment fund undergoes changes The post Grayscale adds AMP and removes Bancor from Defi Fund appeared first on The Cryptonomist.
226 days agocryptopotato
Grayscale Removed Bancor Network Token (BNT) and UMA Protocol From DeFi Fund
Grayscale added AMP to its DeFi Fund, while BNT and UMA will no longer be part of the product.
238 days agocryptopotato
SushiSwap Proposal Calls for a Merger With the Bancor Network
A community submission proposes for SushiSwap to merge with the Bancor Network with the aims of benefiting traders and liquidity providers.
239 days agocryptodaily
Enthusiasm Grows For “suSHIBAncor”, A Proposed Merger Between Bancor & SushiSwap
Support is growing for a proposed merger between the Bancor Network and SushiSwap. The proposal calls for the two projects to be combined into a single entity - suSHIBAncor - that would benefit from more liquidity, better leadership and protection against the “impermanent loss” phenomenon that’s threatening the very foundation of decentralized finance. The proposal, posted to the SushiSwap forums by an anonymous user who also goes by the name suSHIBAncor, reckons SushiSwap is in real danger of going tits up due to a combination of its shambolic leadership and a lack of profitability for its liquidity providers. While the leadership issues and lack of direction is an issue that can perhaps be dealt with, the issues faced by liquidity providers are less easy to resolve. Like many automated market makers, SushiSwap suffers from the problem of impermanent loss, where users staking their tokens in a pool actually lose money versus simply holding their assets in a wallet. It’s believed impermanent loss accounts for billions of dollars in losses each year, yet due to the complexities of calculating it, plus the opaque analytics of many AMMs, most users aren’t even aware they’re losing money. suSHIBAncor reckons the only solution for SushiSwap to address this problem is to merge with Bancor, which recently came out with version 3 - a revolutionary redesign of the Bancor protocol that adds protection against impermanent loss. The changes make the act of depositing tokens in an AMM pool far safer, easier and more lucrative, enabling them to “stake and forget” their tokens with full exposure to a single asset and no risk of impermanent loss. Meanwhile, the Bancor Network will benefit from a massive injection of liquidity. SushiSwap currently has around $3 billion worth of liquidity in assets that can be easily transferred to Bancor because the upcoming V3 supports limitless pools. “This means that not only can 3 billion dollars of assets be migrated over without issue, they would all be single-sided stakes,” the author explains. “I’ll spell it out. If a token is staked single-sided, and has full IL protection, the LP tokens can only rise when denominated in the staked token.” The idea of suSHIBAncor has attracted a surprising amount of support. A quick poll on the SushiSwap forums proposal page by commenters shows 59% are currently in favor. Moreover, a non-binding vote on the idea posted to Bancor’s snapshot shows a massive 86% support the idea, at least in theory. Realizing suSHIBAncor would take a lot of work, however. Bancor’s Head of Research and key contributor, Mark Richardson, said in the comments section that while projects are both community led and would therefore be a good cultural fit, the proposal lacks any clear details on what the merger would look like. There are multiple issues that would have to be ironed out, not least the fact that both projects have unique tokens and code bases. He added that until the proposer has something more substantive to say around those issues, there is very little to discuss. “I can see very clearly that such an event could have immense value for all involved. There seems to be a synergy of developer talent, community energy, and shared vision that would be very powerful,” Richardson said. “I don’t want my criticisms here to be misconstrued as an outwardly negative reaction. I wouldn’t bother showing up if I thought the idea was vacuous. But it is [very] incomplete.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
261 day agocointelegraph
Bancor introduces new staking pools and instant impermanent loss protection
Bancor 3 will feature instant impermanent loss (IL) protection, an unlimited deposit staking pool, and an Omnipool offering a share of fees generated from the entire platform.
261 day agocryptopotato
Bancor Protocol Announces Features of Its Long-Awaited V3
Bancor has shared details of the features of its upcoming version three dubbed Bancor 3.
268 days agocryptopotato
Impermanent Loss, Crypto’s Silent Killer, Threatens the Core Tenets of DeFi: Bancor
[PRESS RELEASE – Zug, Switzerland, 22nd November 2021] One of the original creators of DeFi is aiming to fix one of the industry’s most pressing problems. When Bancor launched the first-ever DeFi liquidity pool in 2017, the project’s founders saw a tragic flaw in their invention: That when a token rises in price, investors are prone […]
280 days agocryptodaily
Wirex celebrates the achievements of women with this years "Rising Women in Crypto Power List"
A key part of Wirex’s 2021 Women in Crypto campaign, has been the Rising Women in Crypto Power List, designed to celebrate the achievements of women in the crypto industry, and dismantle the male-dominated stereotype associated with the industry. Wirex has held a number of events to showcase the women who are innovating within the crypto sector, including the recent Women in Crypto live event, in partnership with UKTN, which saw a line-up of women discussing the future of the crypto industry. The Rising Women in Crypto Power list 2021 marks the second year that Wirex has come together with UKTN to celebrate ​​the top ten most inspirational women in the crypto industry. The finalists who made this years crypto power list include founders of crypto companies, crypto news editors, and content creators: In no particular order, this is the Wirex and UKTN’s 2021 ‘Rising Women in Crypto Power List’: Lavinia Osbourne, Founder, Women in Blockchain Talks Ekta Mourya, Crypto News Editor, FXStreet SLU Genevieve Leveille, CEO and Founder, AgriLedger Galia Benartzi, Co-Founder, Bancor Network Olayinka Odeniran, Founder and Chairwoman, Black Women Blockchain Council Erica Stanford, Founder & CEO, Crypto Curry Club Diane Dai, CMO and Co-Founder, DODO Alakanani Itireleng, Founder and CEO, Satoshi Centre Lea Thompson, Content Creator, Girl Gone Crypto Caterina Ferrara, Founder, Blockchain Ladies Amy Barker, Wirex Head of People and Power List judge commented on this years list, remarking upon the incredible women in the sector who were nominated this year: “The calibre of nominees this year was truly outstanding, and it was extremely difficult to narrow down the list to just ten women. At Wirex, we’ve built our culture around empowering everyone to get involved and recognising everyone’s successes, which is why we’re proud that our Women in Crypto campaign has attracted the attention of so many people wanting to highlight the amazing achievements of their friends and colleagues.” The power list for women in crypto recognises the achievements of these women who currently work in crypto, but also seeks to encourage more women to work in this field and rise up in this industry. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
295 days agocryptodaily
FDIC Chair Believes Banks Should Be Allowed To Hold Bitcoin
Jelena McWilliams, the Chair of the Federal Deposit Insurance Corporation (FDIC), one of the country’s top financial regulators, has stated that she believes banks should be allowed to hold cryptocurrencies such as Bitcoin both for themselves and their clients. She also revealed that she is working on formally allowing banks to hold crypto-assets such as Bitcoin. Banks Should Be Allowed In The Crypto Space Speaking during an interview with Reuters, McWilliams stated that she is in favor of allowing banks to hold cryptocurrencies such as Bitcoin, both for their clients and themselves. “I think that we need to allow banks in this space while appropriately managing and mitigating risk.” The Chair’s comments come as an interagency team comprising staff from the Federal Reserve, the FDIC, and the Office of the Comptroller of the Currency (OCC) finish up their work on coordinating crypto policies for banks in the United States. McWilliams indicated that the group would examine rules for holding crypto on the company balance sheets, a strategy companies such as Tesla and MicroStrategy have already employed. “My goal in this interagency group is to basically provide a path for banks to be able to act as a custodian of these assets, use crypto assets, digital assets as some form of collateral.” A Case Of Deja Vu The current scenario seems like a repeat of when Brian Brooks, who was the former Chief Legal Officer at Coinbase, directed the OCC to establish rules that would allow savings associations and federal banks to take custody of crypto assets on behalf of their clients. Brooks had stated while releasing a letter interpreting the rules stating, “From safe deposit boxes to virtual vaults, we must ensure banks can meet the financial services needs of their customers today. This opinion clarifies that banks can continue satisfying their customers’ needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency.” Put On Hold However, the rules drafted by the OCC under Brian Brooks were put on hold by the current comptroller Michael Hsu, who had assumed charge in April. Calling for a review of the policies, Hsu wrote to the House Committee on Financial Services stating, “My broader concern is that these initiatives were not done in full coordination with all stakeholders, nor do they appear to have been part of a broader strategy related to the regulatory perimeter.” Banks Could Trade Crypto McWilliams’ comments come after a Politico report released last week stated that after former President Trump’s defeat at the polls, the OCC staff had determined that banks could trade crypto on behalf of their clients. A move that was endorsed by the agency’s chief counsel’s office. Other banks are not waiting around for permission, with US Bancorp, the 5th largest bank in the country in terms of holdings stating that it was working on a cryptocurrency custody service that would focus on investment managers at financial institutions. McWilliams stated that it is imperative to allow banks to operate hold crypto stating, “If we don’t bring this activity inside the banks, it is going to develop outside of the banks.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
312 days agocryptodaily
The Crypto Volatility Index (CVI) Integrates Chainlink’s Automation Service for Rebasing of its Volatility Tokens
Image source: The Crypto Volatility Index (CVI), a VIX for cryptocurrencies, has integrated Chainlink Keepers — a decentralized transaction automation service for smart contracts — in order to automate the maintenance of tokens pegged to the Volatility indices. Chainlink Keepers will basically trigger a supply rebase of the Volatility tokens automatically every day at midnight UTC. It will ensure that the tokens continue to maintain their peg without any manual input or centralized processes. Created by the COTI team and Prof. Dan Galai, the creator of the original VIX, as a “market fear index” for the cryptocurrency market, this Index tracks the 30-day implied volatility of Bitcoin and Ethereum. The index ranges between 0 and 200 and is based on a Black-Scholes option pricing model that combines the implied volatility and market expectation of future volatility of crypto option prices together. By providing an insight into the volatility of the market, CVI allows traders to develop strategies for short-term gains and hedge their portfolio against intense price fluctuations, which is inherent to the crypto market and is much heightened than the traditional market. Decentralizing The Index The team has launched its first volatility token called ETHVOL, which is pegged to the Ethereum Volatility Index. To maintain ETHVOL’s peg, the Crypto Volatility Index uses a rebasing mechanism, where every time a rebase is triggered, users receive ETHVOL tokens directly in their wallet based on the latest change in the Ethereum Volatility Index. Another Volatility token called CVIVOL is soon to be launched as well. It will be pegged to the CVI index. CVIVOL token will be tradeable on Polygon-supported decentralized exchanges (DEXs) such as QuickSwap. Polygon is a fast-growing Ethereum scaling solution that has $4.54 billion in total value locked (TVL) and supports more than 70 projects, according to DeFi Llama. “Rebases are paid for by funding fees that then get redistributed to users based on them having a long or short position during the rebase,” as per the project. Every time a rebase is needed to maintain the peg, an entity needs to call CVIV’s smart contract on-chain to trigger the rebase function to run. To decentralize CVIV, it has opted to outsource the process to Chainlink Keepers, which perform the off-chain computation to check for predefined conditions, which when encountered, calls on-chain functions. A Natural Next Step The CVI team has chosen the popular oracle solution Chainlink because it is a decentralized network run by the time-tested and professional DevOps teams powering Chainlink Price Feeds. Chainlink’s decentralized oracle networks are the most popular solution used in the crypto market which is helping secure tens of billions of dollars in value across hundreds of applications and across multiple blockchains. “Integrating Chainlink Keepers was a natural next step after using Chainlink Price Feeds to access high-quality options data used in the CVI volatility index calculation,” said Shahaf Bar-Geffen, CEO of COTI. COTI is a “finance on the blockchain” ecosystem designed to solve the challenges of centralized finance in terms of fees, latency, global inclusion, and risk along with the issues of clogging, complexity, and fees faced by decentralized finance (DeFi). The protocol solves these issues by introducing a new type of DAG-based infrastructure that is fast, private, inclusive, scalable, has low cost, and is optimized for finance. With a market cap of $464 million, the cryptocurrency COTI is trading at $0.534, as of writing, up 1663% in the past year. The token hit a new peak just less than ten days back at $0.67. Popular DeFi Oracle Solution COTI’s CEO Ben-Geffen, too, recognizes the high potential of Chainlink Keepers. He has said, “Chainlink Keepers are reliable, decentralized, and seamless to integrate, ultimately offloading manual labor from our developers while still providing strong assurances that our volatility tokens stay pegged to the underlying CVI index.” Optimized for low costs and decentralized security to avoid single points of failure makes Chainlink Keepers an ideal trust-minimized solution to keep the Volatility tokens reflective of current market volatility. By performing off-chain computations and generating calldata verifiable by smart contracts, it also allows developers to build advanced, trust-minimized dApps at lower costs. Additionally, Chainlink Keepers boats of high uptime even during extreme network congestion and market volatility. Chainlink’s native token LINK is a $12.5 billion cryptocurrency trading at $27.24, up over 130% YTD but down over 28% from its early May all-time high of about $53. DeFi blue-chips like Aave, Sushi, Synthetix, Compound, 1Inch Network, Ampleforth, and many others like, Paxos, Fantom, Swipe, Bancor, dYdX, Perpetual Protocol, Flexa, and PancakeSwap are among its users. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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About Bancor

The live price of Bancor (BNT) today is 0.550902 USD, and with the current circulating supply of Bancor at 207,145,989.04 BNT, its market capitalization stands at 114,117,219 USD. In the last 24 hours BNT price has moved -0.027729 USD or -0.05% while 2,681,301 USD worth of BNT has been traded on various exchanges. The current valuation of BNT puts it at #227 in cryptocurrency rankings based on market capitalization.

Learn more about the Bancor blockchain network and how it works or follow the price of its native cryptocurrency BNT and the broader market with our unique COIN360 cryptocurrency heatmap.

Bancor (BNT) is the token of the Bancor Network, which is used to connect all tokens in a given network. BNT currently has a single connector to ETH coin with a 10% CW, and is managed by the Bprotocol Foundation. 50% of BNT coin's initial supply was distributed to contributors and the other 50% is held by the Bprotocol Foundation. The built-in automated market makers dynamically adjust BNT token price and supply after each crypto trade.
Bancor Price0.550902 USD
Market Rank#227
Market Cap114,117,219 USD
24h Volume2,397,917 USD
Circulating Supply207,145,989.04 BNT
Max SupplyNo Data
Yesterday's Market Cap112,564,310 USD
Yesterday's Open / Close0.567431 USD / 0.539702 USD
Yesterday's High / Low0.587601 USD / 0.538598 USD
Yesterday's Change
-0.05% ( 0.027729 USD )
Yesterday's Volume2,681,301.20 USD
Powered by  Cryptocurrency prices in USD, market cap, volume
Sorry, no liquidity for this pair
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