Post
Topic
Board Tokens (Altcoins)
Re: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem
by
TheRedCanary
on 18/05/2018, 00:33:12 UTC
Does anyone know how to find what price you bought at on your bancor? I go to transactions but it doesn't say a price I got it at

Hi there, when you made the transaction, you would have been given the token price. Now you would also have been warned of slippage.
The price at which the smart token is bought or sold for any of its reserve tokens is set by an algorithm which balances the current connector balance with the current smart token supply, at a predefined Weight, which is above 0 and up to 100%. The smart contract also recalculates its own price following each purchase (which causes price to increase) or liquidation (which causes price to decrease), in proportion to the transaction size. So, a larger purchase or liquidation will change the price more than a smaller one. This ensures that the connector cannot be drained and will always maintain their Weight of connector token balance in the contract. Thus, a smart token does not need to be listed in an exchange in order to be liquid and priced by the market.
So in other words, the token price can vary through the transaction but this will be alerted in the slippage.