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British Virgin Islands – December 20, 2017 – The rising coin-based fundraising service, CoinStarter, just announced it will be integrating the Bancor Protocol™ into its platform to provide users with continuous liquidity directly on-chain. The new partnership comes less than a month after CoinStarter announced its proposed ICO launch for January 2018 alongside news that within three months of beta testing, the platform was able to capture over 140,000 member signups.
Earlier this year, with the support of Blockchain Capital and Tim Draper, the Bancor Protocol™ was able to raise $153 million in a frame of three hours, making it one of the most successful token generation event launches to date. As of today (12/11/17), the Bancor Network Token™ (BNT) rose 8.16% to $2.65 and 250,653 BNT worth $644,202 traded hands, according to Global Crypto Analysts.
CoinStarter’s ICO is only a month away, but the ability of its growing number of users to have access to convertibility within the Bancor Network of cryptocurrencies offer a unique user experience. Bancor created a standard for “Smart Tokens™” which utilize a “connector token” method that allows them to be autonomously and continuously converted using a built-in and transparent pricing algorithm. More simply, tokens integrating with the Bancor Network can be easily converted back and forth at any time, automatically, without the need to match buyers and sellers through traditional exchanges or even decentralized order books.
When CoinStarter’s StarterCoins become available for purchase and distribution next month, the integration of the Bancor Protocol will allow seamless conversion between them and various other tokens in the network. StarterCoin will allocate between 2%-5% its circulating supply to stake the Bancor-compliant Token Relay. You can join the CoinStarter community here!
When asked about the partnership, CoinStarter founder Cornell Holloway said, “I’m excited about the potential this integration with Bancor will bring to both platforms’ members. Using the Bancor Protocol and its algorithmically-derived smart contract, the buy and sell prices for CoinStarter projects will reach optimized equivalence and increased stability.” By using innovative balancing to solve the liquidity challenge many new tokens face, more projects and crypto-user networks will be empowered to grow and progress.
CoinStarter is a first of its kind technology platform for the ICO crowdfunding market. Our user-friendly and intuitive platform is the perfect fundraising tool that addresses all the issues for entrepreneurs, innovators and creators seeking to bring their ideas to reality. With the help of our proprietary devices, users can launch their campaigns and coins in just a few minutes as opposed to the days, weeks and months required by other crowdfunding platforms. CoinStarter’s custom developed system will provide Entrepreneurs, Creators and Innovators access to the funding they need while allowing an army of global backers to take part in helping develop groundbreaking new ideas.
Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “Connector” method to enable formulaic price calculation and continuous liquidity for all compliant tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. For more information, visit the website and read the Bancor Protocol Whitepaper.