Crypto-focused venture capital fund, DeFiance Capital is joining Bancor protocol as strategic advisors on tokenomics, financial and institutional liquidity management. The joining of DeFiance comes at a crucial time in Bancor's development and the overall DEX ecosystem.
Through Bancor’s native BNT token, DeFiance will provide the protocol with liquidity in return for exchanges’ fees and cash mining income.
The current Bancor v2.1 offers users for collecting attractive yields from their favorite token via swap fees and awards and offering single-asset exposure.
Bancor's next release includes Bancor Vortex, the native lending engine of the protocol with gasless transactions, and a new pool design for stablecoins.
The protocol will also extend its BNT liquidity mining program for joint liquidity mining, increase incentives for BNT holders for increased participation of miners, and lower the entry barriers.
Over the past month, the overall value of digital assets locked in the Bancor Protocol has doubled. The DeFi protocol has entered the top 10, total value locked projects and is currently the fifth-largest in decentralized exchange in the space.
Bancor is a blockchain protocol that enables easier token conversions. Users can directly convert between different tokens instead of exchanging them on cryptocurrency markets. It pioneered the Automated Market Maker (AMM) model on Ethereum.
Bancor invented the world’s first blockchain-based automated liquidity pool, or automated market maker (AMM) called a Smart Token that enables automated, decentralized exchange on the Ethereum and across blockchains.
DeFiance Capital is a Singapore-based DeFi-focused crypto asset fund. It’s the largest DeFi fund in Asia with over $300 million in assets under management (AUM). The firm’s active portfolio consists of at least 19 startups and protocols across six verticals.
The investment fund provides DeFi based leadership and guidance in critical aspects such as token economics, governance scaling, and community building.