Bancor BNT to QASH QASH Exchange

Crypto Pair Details: BNT to QASH

Bancor BNT

Bancor is a blockchain protocol that allows users to convert between different tokens directly as opposed to exchanging them on cryptocurrency markets. The project offers a network, which we’ll discuss soon, that works to bring liquidity to the majority of tokens that lack a consistent supply/demand in exchanges. That network is built on smart contracts and a new class of cryptocurrencies that the team calls “Smart Tokens.” Bancor is looking to provide support to the illiquidity that currently exists within the cryptocurrency market. Illiquidity isn’t so much an issue for top coins like Bitcoin or Ethereum because there are always buyers and sellers looking to exchange those coins. It is definitely an issue, however, for the thousands of other tokens that may serve legitimate decentralized purposes but haven’t attracted enough attention in the market to be liquid. Bancor’s protocol uses smart contracts to create Smart Tokens, which serve as an alternative mechanism for trading. A key characteristic of the protocol is that it doesn’t call for an exchange of tokens with a second party, as in the case of cryptocurrency exchanges. Rather, it employs Smart Tokens to convert between different ERC-20 tokens internally. These conversions take place through the blockchain’s protocol and completely outside of cryptocurrency exchanges. Smart Tokens process token conversions internally by holding reserves of other ERC20 tokens within their Smart Contract. They can then convert back and forth between those reserves as users request it. The Bancor team consists of a core Foundation Council and their Advisory Board. The Foundation Council includes four individuals based out of Zug, Switzerland. Bernard Lietaer is a Belgian civil engineer, economist, author, and professor. Lietaer specialized in monetary systems and promotes the notion of communities creating their own local currencies. Guy Benartzi serves as co-founder and is recognized for founding the gaming company, Mytopia. Benartzi also co-founded Particle Code, a development studio based in Tel Aviv, Israel. Guido Schmitz-Krummacher is an executive of the Bancor Protocol foundation that’s involved with a variety of commercial entrepreneurial ventures in Switzerland. His involvement in the crypto space includes that of Bancor as well as an executive position in crowdfunding network, Tezos (XTZ). One of the key elements of the Bancor Network is the automated pricing. This comes from the Smart Tokens’ built-in automated market makers. These automated market makers mean that the tokens’ smart contracts always buy or sell Smart Tokens from or to any user in exchange for any connector token (as well as any token found in the network). The price comes from the Bancor Formula. This formula that is responsible for balancing a Smart Token’s demand and supply while also maintaining the ratio between the token’s total value with the connector token balances. The creator of the Smart Token configures these ratios, known as the connector weight. The creator can adjust them with the goal of decreasing or increasing the liquidity level of the token. The connector weight indicates price sensitivity, or how much sells and buys affect the price movement. Any time the prices no longer syncs with prices listed on external exchanges, the arbitrageurs will quickly balance the gaps.'

QASH QASH

QASH (pronounced “cash”) is the native currency for the Quoine (pronounced “coin”) which is now rebranded to Liquid. Liquid is a global cryptocurrency firm looking to solve the liquidity problems that have surfaced with crypto investments. Liquid brings liquidity to the cryptocurrency space by providing a means for you to easily buy cryptocurrency with and cash-out to fiat. Currently, each crypto exchange has its own level of liquidity that differs between the trading pairs it offers. This creates individual silos that may have great liquidity on one exchange but not on another. The Liquid platform connects these silos into one combined pool to give you the greatest liquidity possible. The Liquid World Book compiles the orders and prices from exchanges around the world into one order book for you to use. This gives any trader, no matter their location, the ability to use the fiat currency of their choice when purchasing or selling crypto. It removes the liquidity silos of separate exchanges and gives more trading power to previously underserved markets. The Prime Brokerage half of the Quoine Liquid platform basically gives you access to the features outlined in the previous World Book section. With Prime Brokerage, you have direct market access to all exchanges in the World Book without having to create an account on each individual exchange. Furthermore, Quoine has been building partnerships with a network of banks over the last several years to ensure the quick transfer of your fiat funds. QASH is an ERC20 token you use to pay for services on the Liquid platform. Beyond that, QASH holders may also receive discounts, promotional products, and ICO investment opportunities with coins that Quoine helps to launch. The team also emphasizes in their whitepaper that other organizations may use it for their own purposes similar to how some financial institutions use the Ripple XRP token. Because Quoine enters a few different financial sectors, the company has quite a few competitors. As a credit facility, the company competes with SALT. On the exchange side, there are numerous other businesses like Binance specializing in alternative coins or Gemini and Coinbase focusing on fiat to crypto conversions. Mike Kayamori (CEO) and Mario Gomez Lozada (President and CTO) founded Quoine in 2014. Kayamori was previously a Senior Vice President at SoftBank Group and was the Chief Investment Officer of Gungho Asia. Lozada was the CTO of Merrill Lynch in Japan for 11 years before taking the Chief Information Officer role at Credit Suisse Japan. Quoine is the first cryptocurrency firm in the world to be officially licensed by the Japan Financial Services Agency (FSA). The Liquid platform is actually the result of combining two previous platforms, Quoinex and Qryptos. At one time, those two trading platforms were performing over $12 billion of transactions each year.

SOURCE: COINGECKO

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