We’re excited to welcome the newest exchange for the DomRaider Token: Bancor Network. DRT is now LIVE in the Bancor Network for continuous, decentralized and automated liquidity.
In addition to HitBtc, Etherdelta and other exchanges, as of today you can also convert DRT directly on-chain using the Bancor Web App, anytime.
Following the partnership announced in september 2017 between DomRaider and Bancor, we now get a step further with this new exchange, increasing opportunities to purchase and trade DRT.
An automated decentralized liquidity network allows all token launchers, large and small, to bring their innovations to market despite a challenging liquidity barrier. Liquidity is the lifeblood of any currency, and with a growing number of tokens and increased complexity and fragmentation around exchanges, an autonomous smart contract based solution is the next evolution for a modern crypto economy to thrive. The Bancor Protocol standardizes a new token “Connector” method which networks tokens to each other, so that they can be bought or sold directly through their smart contracts for any other token in the network, at formulaically determined prices which increase with buys and decrease with sells. This method allows buyers and sellers to each interact directly with the smart contract, so there is no need to match people to each other in order to convert. This asynchronous model can be compared to text messaging instead of phone calls, allowing for more fluid and frequent conversions with less price volatility which can result from lack of real time matches between those wanting to buy and those wanting to sell any given token. Even better, the Bancor smart contract is non-profit (no fee) with no spread (buy and sell prices are identical) so users benefit from increased efficiency, transparency and predictability — without middlemen.
Using Bancor’s basic Web App interface, users can easily convert any token in the Bancor Network to any other, including ETH and DRT, rather than through a multi-step and fairly technical process using wallets and smart contract addresses. The ultimate aim of the product is to make token creation, usage and conversion as easy as sharing a YouTube video — allowing the long tail of value (aka user-generated currencies) to emerge.
“We believe that this partnership will help the development and growth of this new auctioning ecosystem aimed to provide an innovative solution for all worldwide auctioning players. We are excited to bring Bancor’s innovation to DomRaider blockchain community, and we look forward to giving you further information about this partnership in coming weeks.” — said Tristan Colombet, CEO at DomRaider.
Bancor Network guarantees liquidity, and the platform is so easy to trade for the ordinary people at very good prices.