As a result of this integration, holders of the Bancor Network Token (BNT) will be able to convert BNT for Wand tokens and vice versa, instantly and continuously. Thanks to the Bancor Protocol™, buyers and sellers can now convert their tokens automatically and directly on blockchain, instead of relying on traditional exchanges.
Bancor’s smart contracts utilize a “connector token” method which will allow Wand tokens to automatically convert to BNT, ETH and any integrated token in this decentralized liquidity network, according to an open-source algorithmic price determining formula. These conversions take place directly between smart contracts, from the convenience of any Web3 enabled wallet. Bancor ran a record-breaking token sale in June, collecting over $150 million for the project in under three hours.
This collaboration will bring increased liquidity to the Wand tokens after the Token sale. The activation of the Token Relay with the Bancor Protocol will be announced following the conclusion of the public sale of the Wand Tokens on November 25th.
Abhinav, founder and CEO at WandX commented: “This Token Relay increases the liquidity of the Wand Tokens. Such partnerships, and many more that will come soon, will serve to enhance the accessibility and stability of the WandX platform for all.”
The Wand Token sale has started on October 27th, and runs till November 25th; there’s an 18% bonus till November 7th. Do check it out at https://wandx.co.