Cryptocurrency

Bancor’s Liquidity Token Airdrop Will Achieve a 500% Increase in DeFi Users

The decentralized liquidity network Bancor has announced its forthcoming airdrop starting at the onset of the New Year. The Company claims that the airdrop will increase the number of DeFi users to more than 500%.

As the sector of decentralized finance has been fascinating to a majority of people across the world, the Bancor team is determinant to push the airdrop to new heights.

In an official statement, Bancor spokesperson claimed that the aim of the airdrop would increase the liquidity and will multiply the use of DeFi applications, which will see a steep growth of 500% users in DeFi app users.

“There are probably about 10K total users of DeFi products today. Bancor’s airdrop will instantly create 60K + DeFi users without those users having to take any action. So overnight, as the ball drops, we will 6X the number of DeFi users.”

The new Airdrop Plan by Bancor

Significant global attention towards decentralized finance has inspired the Bancor team to take up the challenge to arrange the new airdrop. So, the objective is to create more ETHBNT tokens and distribute them to 60,000 wallet owners.

As the leading decentralized liquidity network, Bancor has thus decided to allot to 60,000 ETHBNT liquidity pool tokens to the wallet owners on the eve of New Year.

These liquidity pool tokens enable the users to add liquidity to decentralized exchange (DEX) and in return, they will get back partial trading free.

The Liquidation of DEX is crucial for the industrial progress and it strengthens the decentralized exchanges to compete against centralized exchanges.

Users probably can hold the token and get back trading fees from each Ether (ETH) based transaction, or they can exchange it for any other token on Bancor protocol.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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