Bancor Network Token (BNT) is a cryptocurrency used on the Bancor Network, which is a decentralized liquidity network that allows users to convert between different tokens directly without the need for a traditional exchange.
BNT serves as a reserve token within the Bancor Network and is used to provide liquidity to other tokens. It acts as an intermediary token that can be converted to and from other tokens, helping to facilitate seamless token swaps.
One of the main features of BNT is its ability to maintain a constant ratio with other tokens in the network, ensuring that there is always liquidity available for token conversions. This is achieved through a decentralized pricing mechanism that balances supply and demand for different tokens.
BNT can also be used for governance purposes within the Bancor Network, allowing holders to vote on network proposals and participate in decision-making processes.
Overall, BNT plays a crucial role in the functioning of the Bancor Network by providing liquidity, maintaining token ratios, and enabling governance participation for users.
