Bancor announced that it would have an upcoming airdrop that will begin on New Year’s Eve.
Bancor is a decentralized liquidity standard for a new generation of digital currencies, which they call the Smart Tokens.
In a press release on November 27 that the exchange platform shared with Cointelegraph, Bancor publicized the official release of its New Year’s Eve Airdrop. The said airdrop will distribute their liquidity pool coins, ETHBNT, to 60,000 individuals.
Liquidity pools let members to integrate liquidity to a decentralized exchange (DEX) and obtain a part of the exchange’s transaction payments in return.
Users of liquidity pool will either handle their token and begin getting payments from each Ether (ETH) based on exchange on Bancor, or they can trade it with any other coin on the said decentralized liquidity network, including EOS, Ether, as well as Dai (DAI).
Turning DEX as a more liquid trade is supposedly imperative in making sure that they can vie with centralized exchanges.
The Decentralized Finance Users and the development of liquidity
A spokesperson from the liquidity exchange network pointed out that the aim of the airdrop is to develop the liquidity of the decentralized exchange. Furthermore, it aims to expand the utilization of decentralized finance presentations.
As claimed by the Bancor spokesperson, the airdrop would upsurge the amount of users of the DeFi app by 500%.
Furthermore, the Bancor spokesperson noted that there are approximately about 10,000 total users of Decentralized Finance products as of today. The exchange network’s airdrop will instantly make more than 60,000 DeFi users, minus the need for these users to make any actions. Moreover, overnight right after the airdrop was done, Bancor will be able to multiply the quantity of DeFi users by six.