We have an exciting new integration to announce: the Bancor Protocol will be integrated into Morpheus.Network’s platform, enabling token liquidity to its MORPH token. By adopting this protocol, MORPH will be easily converted within the Bancor Network.
What is Bancor?
The Bancor Network is a decentralized liquidity network based out of Zug, Switzerland, where tokens are converted rather than traded or exchanged. It uses a connector method called the Bancor Protocol that networks connected tokens together using Smart Tokens™ by automatically calculating conversion prices without the need for buyers and sellers to transact.
The Bancor Network uses the Bancor Network Token (BNT), which was activated on June 17, 2017 and serves as the hub network token. All tokens in the network can be converted to and from BNT at a rate calculated by the Bancor Formula.
How would a MORPH conversion using the Bancor Protocol work?
For end users, token conversions using the Bancor Protocol are relatively simple.
The Token Relay carries a quantity of each MORPH and BNT tokens, and are priced depending on the token quantity within the contract. When MORPH tokens become cheaper than market value, Morpheus.Network users will have the incentive to buy it — returning the price to normal. The same can be said if BNT is cheaper — where MORPH holders may then sell.
MORPH and BNT owners can transfer their tokens to the Token Relay, supplying the network and receiving an IOU token called MORPHBNT.
For example, a user that has interest in purchasing MORPH tokens would first send their Bancor Network Tokens (BNT) to our Token Relay, immediately purchasing an intermediary token called MORPHBNT, which would subsequently be exchanged for MORPH. With two conversions occurring at a 0.1% fee each, the total fee would be 0.2%.
How can I convert my MORPH tokens in the Bancor Protocol?
By creating a Bancor web wallet, you’ll be able to convert MORPH tokens into any other type of cryptocurrencies in the Bancor Network at low cost conversions and continuous liquidity.
When will the Relay Token be activated?
Shortly after the conclusion of our token sale, we will activate the Relay Token within a few weeks.
MORPH tokens are until April 22, 2018.
For more information, visit . You can also connect with the Morpheus.Network on , , , and .
