ANNOUNCEMENT: $eRSDL is live on Bancor!
Mere hours after an initial investment of 100,000 $BNT was matched with 1.5 million $eRSDL, the pool generated $800,000 in liquidity and is filled to the brim on the $eRSDL side — making it one of the fastest liquidity pools ever filled. Due to this electric speed and the overwhelming success of this launch (causing there to be no more room in the pool), Bancor is already looking to increase their investment and add even more $BNT into the pool.
The Bancor exchange can now be used for swapping tokens to and from $eRSDL.
LPs get single-token exposure, Impermanent Loss protection, and the ability to earn more $eRSDL from swapping. The Impermanent Loss Protection is enacted from the onset and gives 100% protection after 100 days. This not only safeguards users, but encourages them to hold onto their tokens for a longer period of time in order to acquire the insurance. Bancor is the only DeFi exchange out there that provides this protection.
Additionally, Bancor token holders can stake $BNT and earn a yield from a percentage of the fees generated from swaps. The same is true for unFedAgents, who now have the ability to stake $eRSDL and earn yields from swapping fees.
For $eRSDL holders, single-sided LP staking creates a greater token utility.
Currently, it is possible for unFed Agents to both:
💦 extract additional value from $eRSDL by continuing to hold onto tokens
💦 earn fees outside of the APY in ReserveLending (which is very low right now)
Bancor is an on-chain liquidity protocol that enables automated, decentralized exchange on Ethereum and across blockchains. The protocol is made up of a series of smart contracts designed to pool liquidity and perform peer-to-contract trades in a single transaction with no counterparty. Users add liquidity to automated market makers in exchange for trading fees, $BNT staking rewards and voting rights in the Bancor DAO. Since 2017, Bancor has processed an impressive billions in trade volume across thousands of tokens, with millions in fees generated by liquidity providers.
Combine this with unFederalReserve’s low-latency platform (which allows B2B lenders to borrow and lend amongst themselves by putting their cash to work on moderate interest rates and reap the benefits of those interest rates when they borrow), and the result is an exciting new way and place to trade $eRSDL, support the LP and everybody who’s jumped in the pool.
💦 To swap or stake, visit bancor.network 💦