B2Broker, a leading trading technology provider who offers comprehensive solutions for brokerage companies, has joined an expanding group of projects to partner with Bancor, the Smart Token cryptocurrency protocol, to maximize the trading liquidity of B2BX tokens sold as part of its successful token sale.
The protocol integration will enable holders of the Bancor Network Token (BNT) to convert BNT for B2BX tokens, and vice versa, instantly and continuously. Thanks to this technology tokens will have continuous liquidity by utilizing reserve tokens through their smart contracts, with an automated price-discovery mechanism. This is traditionally achieved through matching buyers and sellers in exchanges, and now can be executed automatically, directly on the blockchain, thanks to Bancor protocol smart contract technology.
Bancor’s smart contracts utilize a reserve token method which will allow B2BX tokens to automatically convert to BNT, ETH and any integrated token in this decentralized liquidity network, according to an open-source algorithmic price. These conversions take place directly between smart contracts, outside of exchanges.
This collaboration will bring increased liquidity to B2BX tokens. B2Broker CEO Artur Azizov commented: “The successful progress of our token sale lead us to make sure that the trading environment is as favorable as possible for B2BX token holders. We admire the Bancor technology, and will launch our tokens based on its protocol right after the ICO is concluded, as the current smart contract will not allow it to implement it right away.”
Bancor is a protocol for the creation of Smart Tokens, a new standard for cryptocurrencies which are intrinsically exchangeable directly through their smart contracts. Bancor utilizes an innovative reserve method to enable automatic price discovery and continuous liquidity for tokens, without needing to match two parties in an exchange. Smart tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive.
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