BancorX (by LiquidEOS & Bancor) -- Cross-Chain DEX Liquidity Network Goes Live on EOS
A cross-chain trading solution allowing a flow of financial information across 2 separate and distinct blockchains (in this case EOS and Ethereum) is a key piece of infrastructure that has been missing from the crypto space.
BancorX enables token conversions between 110+ EOS & Ethereum-based assets. Projects launching on the platform include some of the major EOS tokens (Everipedia, eosBLACK, BetDice, MEET.ONE, KARMA, Prochain, and Chaince).
BancorX was built together in partnership with EOS block producer LiquidEOS. It uses Bancor’s own token, BNT, to make the transactions happen. BNT now works on both Ethereum and EOS blockchains and it serves as a bridge between these two blockchain platforms, enabling cross-chain conversions. When an Ethereum token is converted to an EOS token, it is first converted to BNT. Then, this BNT is sent to the EOS blockchain to be converted to the EOS token. All of this happens on the background, and BancorX takes care of the liquidity with their BNT token.
The announcement was posted on Medium Here.
In the 24 hours since the launch, we've seen a push higher in both EOS and BNT. BNT is up almost 9% and EOS is up around 3%.