Bancor AMA in the Trade.io Telegram Group
Yesterday we hosted a live AMA with Bancor Co-founder Eyal Hertzog in trade.io’s Telegram group following the activation of the TIO token on the Bancor Network for decentralized liquidity. Eyal discussed token economics and the new![trade.io ama.png] reality of early-stage liquidity.
trade.io aims to be the leading platform for trading multiple financial assets based on blockchain technology as well as the leading exchange for traditional companies seeking to raise funds from crypto communities.
ICO result: $31,169,749
Launched on Bancor: Jan 17, 2018
Here is a summary of yesterday’s discussion with the trade.io community:
Logan: Hi Eyal. What is your thought on trade token projection for the next 3 months?
Eyal: This is the first time we see early stage projects listed and traded on the free market. I believe that it will take time for the markets to adapt to this new reality and until that point the markets will remain volatile and quite unpredictable.
Spooner: Will it be possible to implement Bancor protocol with atomic swaps?
Eyal: Atomic swaps require two parties to agree on a deal. Bancor enables conversions by a single party. That's a big difference. We are working on cross-blockchain functionality, which would enable Bancor conversions across blockchains.
Oussama Rifar: From my understanding of the Bancor protocol, the BNT price is most accurate indicator of the liquidity in the Bancor network. Where do you see it in Q2 and Q3 ? 😊
Eyal: The liquidity is actually per token, and you can see how high it is by looking at the "Liquidity Depth" (recently added to the token list on the homepage).
Oussama Rifar: Ok, as much as a liquidity for a token gets higher, the exchange price is lower? and vis versa can you confirm
Eyal: not exactly, Liququestions increased by depositing additional BNT+Token into the token relay which provides it. This has no immediate effect on the conversion rate, which is determined by the market forces.
Oussama Rifar: What do you mean by market forces? Sorry the multiple question, but i guess it's an important point for everyone planning to use Bancol protocol
Eyal: If more tokens are bought than sold, it would cause the price to increase, and vice versa. So it's the market demand which ultimately determines the price.
Paz: Thanks Eyal and Another question, are you going to stay on ethereum network or maybe to expand other networks in the future?
Eyal: We're working on expansion 🙂 https://itsblockchain.com/eos-bancor/
Bn: what synergy does Bancor bring to the trade platform and vice versa?
Eyal: Bancor is providing liquidity using a novel and fully decentralized method. Trade.IO can take advantage of the this in order to provide more liquidity sources for its customers, which would ultimately optimize the conversion rates.
P K: Bancor wallet will no longer be required to use MetaMask. When is the ETA for this?
Eyal: Yes, Bancor wallet will remove the requirement to use Web3 wallet such as metamask. We expect to have the wallet released in the next few weeks.
P K: Will the gas price be lower with the new wallet?
Eyal: We've dramatically reduced the gas fees in the last few weeks, and we are working on a new solution that would decrease them even further, however, it is not directly related to the wallet.
Eyal: Thank you everyone (and especially trade.io team) for your time and attention. If you have any more questions feel free to ask them in our telegram group - https://t.me/bancor (we're not trying to fish for users as we already had our token sale 😉 )
Paul - trade.io: Thank you Eyal, a pleasure having you drop by! Look forward to a bright future working together with your wonderful team! Have a great rest of your day!