Bancor Set to Launch a New DEX that Will List Both EOS and Ethereum Based Tokens
There have been several references to the fact that EOS is an upgraded version of Ethereum. This has created some sort of rift between fans of each network. In order to solve this, we have seen the introduction of several platforms targeted at bridging the gap existing between these two platforms in recent time. Joining the trend is Bancor (DEX). The decentralized exchange (DEX) has announced that it has completed the development a bridge to the EOS network. The platform is called BancorX, and it is now live.
BancorX Platform will Bridge the Gap
The report made it known that the new platform will allow the conversion of 110+ Ethereum and EOS-based assets. It was reported that the BancorX was made in partnership with a blockchain company called LiquidEOS.
The official token for the BancorX platform is going to be BNT (same as the original Bancor). Going by this, the BNT is now officially functional on both the Ethereum and EOS blockchains.
The function of BNT on the new platform becomes more complex. The token becomes the main tool for bridging the gap existing between the two networks.
A report describing how the BNT token function states that:
“This works by first converting an Ethereum token to BNT, then the BNT is, in turn, converted to EOS token.
Then, this BNT is sent to the EOS blockchain to be converted to the EOS token. All of these is going to take place in the background, and BancorX platform takes care of the liquidity.”
Ethereum and EOS token will be Listed
Based on a report more than 110+ tokens will be listed on this new platform. This will include top tanking Ethereum and EOS based tokens like Everipedia, eosBLACK, BetDice, MEET.ONE, KARMA, Prochain, and Chaince.
The CEO and co-founder of Everipedia, Theodor Forselius has also commented on this latest development. He stated that:
“The Bancor Protocol is the leading project in the crypto space that is bringing cross-chain liquidity and decentralized conversion functionality to EOS and Ethereum. We’re very excited to have the Everipedia IQ token listed on BancorX.”