Bancor’s ETHBNT Airdrop on 1.1.2020


On January 1st, Bancor is doing an
airdrop that immediately transforms every BNT holder into a liquidity
provider on the Bancor Liquidity Network. Any holder of BNT will be
eligible to receive it and this will turn Bancor into an exchange owned by
thousands of users. The token being airdropped is the ETHBNT token. ETHBNT
is a token that represents an ownership stake in the Ethereum liquidity pool and
it automatically generates fees from ETH-based trades on Bancor. Anybody
holding BNT prior to January 1st at 12:00 AM Eastern Time
will receive ETHBNT equal in value to 10% of their BNT holdings. You
will receive this airdrop if you hold BNT in any non-custodial wallet on
Ethereum or EOS — like Metamask, Ledger or Scatter. Or in any one of the exchanges
supporting the airdrop, which include Binance, LATOKEN and HitBTC. As part of
the airdrop the BNT token itself will change from a dynamic supply token to a fixed supply token and no longer hold a reserve of ETH. This is expected to
reduce correlation with the price of ETH and allow for greater price
elasticity, since buying BNT no longer increases its supply. If you do
not currently own BNT, but want to take advantage of what is effectively a 10%
bonus on your holdings, you can acquire BNT directly at Bancor.Network, 1inch.Exchange, Binance, LATOKEN, HitBTC or any other exchange where BNT is listed. ETHBNT is referred to as a pool token. Pool tokens allow users to add liquidity
to Bancor with no central entity controlling the process. So liquidity can
be decentralized across an infinite number of unaffiliated parties. In
addition to BNT holders receiving this airdrop, anyone holding any other Bancor
pool token such as DAIBNT, DAIUSDB or EOSBNT is also eligible for the January
1st airdrop. Once you receive your ETHBNT, in the days following the token
holder snapshot, you can either hold it and start collecting fees, you can move
the liquidity into another fee generating pool like DAIBNT or DAIUSDB, or you can swap the ETHBNT for any other token on Bancor, including ETH, EOS and DAI. Overnight, as we ring in the new
decade, Bancor will transform from having a few hundred to over 60,000 liquidity
providers thanks to the ETHBNT airdrop, with thousands of BNT holders
generating passive income from decentralized liquidity pools. This event
has the potential to inspire a new wave of users to add liquidity on Bancor and
effectively own a piece of the protocol. Soon every exchange could be owned by
thousands of users and DEX’s may start to look a lot like DAOs.

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