Post
Topic
Board Tokens (Altcoins)
Re: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem
by
ruletheworld
on 08/06/2017, 23:13:46 UTC
Some news from there official blog. You should check this out!

https://blog.bancor.network/the-community-of-the-currency-9770087fde17


"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, we have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows:

20% will be allocated to the BNT Ether Reserve, to further improve the liquidity of BNT, which increases stability while reducing conversion costs (price slippage) for all.

80% will be locked for two years in a smart contract that will buy back BNT for 0.01 ETH (the initial price) whenever it is available, according to its calculated price. The purchased BNT will be added to the Foundation’s long-term budget, and after a 2-year period, any remaining ETH will be allocated pro-rata according to the “Use of Proceeds” chart in our Token Creation Terms.
"

That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO.