Following the announcements to support USD Coin and Decentraland on Poloniex in recent weeks, we are thrilled to be adding another addition to Poloniex today. Assets that are candidates for listing on Poloniex undergo a rigorous review spanning engineering, legal, and product analyses. One of the core categories of assets that we aim to curate on our exchange are projects that introduce new core infrastructure to the Ethereum ecosystem. This week, we are highlighting one such project; we are pleased to welcome Bancor to the Poloniex family.
Deposits and withdrawals are currently live. Trading in USDT, BTC, and ETH pairs will be enabled on October 19th at 16:00 UTC.
Bancor is a decentralized liquidity network that currently operates on the Ethereum blockchain. Unlike decentralized exchanges, which rely on order books to match buyers and sellers, Bancor uses a set of smart contracts to manage liquidity and enable the conversion of one asset into another. In this configuration, the "long-tail" of tokens that may not be easily tradeable on a traditional bid-ask order book become liquid and interchangeable with one another; this liquidity can then be accessed programmatically by other decentralized applications and services. The Bancor Network Token, BNT, is the native token of Bancor. You can read more about Bancor and the BNT token here.
The Poloniex family of assets grows by one, and we’re only getting started! Please follow the Circle Blog on Medium to learn about our new asset additions, and get in touch with us at @Poloniex on Twitter if there is an asset that you would like to recommend for listing. Thank you for your support.
The Poloniex Team
Risk disclosure: The value of crypto assets can be extremely volatile and unpredictable. Please use caution and be sure to review the Risk Disclosures in our Terms of Service (https://poloniex.com/terms/) before making any decisions to trade on Poloniex.