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Bancor Price Feed on Chainlink Goes Live
Bancor Price Feed on Chainlink Goes Live

Will Bancor 2.0 Become a DeFi Powerhouse?


Bancor (BNT) and Chainlink (LINK) have announced their collaboration back on the 29th of April earlier this year. As part of their collaboration, Bancor V2 would make use of Chainlink's price oracles. Today nearly two months later, it appears that the something has come from their collaboration. Bancor announced the launch of Chainlinks BNT/USD price feed on Twitter.

 

 

Price Feeds and Why They Matter

Bancor V2 will make extensive use of Chainlink's price feeds. This will help guarantee the price of the asset and avoid arbitrage opportunities and manipulations. In addition to the BNT/USD price feed, all ERC20 tokens in Bancor V2 will communicate with Chainlink's price feeds.

This will essentially create stability for assets within Bancor V2's pools and amplify liquidity for assets.

Bancor have teased that this is: "the first of many price feeds to be launched in collaboration with Chainlink to support Bancor V2 pools."  This makes it seem likely that a BNT/ETH price feed might be the next in line.

As per DeFi Pulse, Bancor is the 2nd most popular DEX in the world of DeFi with $15.2 M locked in. The only other DEX to rival it is Uniswap with $26 M locked in. Should Bancor V2's launch be a success, and if a few more assets are added to their liquidity pools, Bancor might top it in the future.

 

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Written by Jonathan Ganor

Writer & cryptocurrency aficionado

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