It’s official: Bancor’s upcoming airdrop will commence this New Year’s Eve with the BNT Holder Snapshot.
Here’s what you need to do:
1. Hold BNT on January 1st at 12:00AM EST.
2. Receive the ETHBNT airdrop in your wallet.
3. Earn fees from every ETH-based trade on Bancor.
As long as your BNT is in a non-custodial wallet or a supported exchange wallet on January 1st at 12:00AM EST, you will receive the ETHBNT airdrop. Today, we’re announcing Binance as the first exchange supporting the airdrop. See all exchanges & wallets supporting the airdrop.
The airdrop is effectively a 10% bonus on your BNT holdings. For example, if you hold 100 BNT, you will receive an amount of ETHBNT in your wallet equal to the value of 10 BNT. ETHBNT automatically generates fees from every ETH-based trade on Bancor.
Leading up to the airdrop, there are two primary ways to acquire BNT:
- Buy BNT directly on Bancor.Network and 1inch.exchange.
- Add liquidity to a Bancor liquidity pool via 1inch.exchange, CoTrader and EOS Nation.
When you add liquidity to a Bancor pool, you’ll receive “pool tokens” in return, representing a pro-rata share of fees generated by the pool. Fees are generated and accumulate inside the pool each time a trade is processed. As a liquidity provider, you may withdraw your share of the accumulated liquidity in the pool by selling your pool tokens back to the contract.
For example, adding liquidity to a USDT:USDB pool returns USDTUSDB pool tokens, which generate fees from USDT conversions on Bancor.
Guide: How to Add Liquidity to Bancor Pools on 1inch.exchange
Users holding pool tokens at the time of the BNT holder snapshot will also receive the ETHBNT airdrop.
In addition, users who mint USDB, Bancor’s new stablecoin, will also receive the ETHBNT airdrop.
Once you receive your ETHBNT in the days following the BNT holder snapshot, you can either hold it and start collecting fees; you can move the liquidity into another fee-generating pool, like DAI:BNT or DAI:USDB; or you can swap the ETHBNT for any token on Bancor, including ETH, EOS and DAI.
See FAQs about the Airdrop, or get your questions answered on Bancor’s Telegram channel.
Overnight, as we ring in a new decade, Bancor will transform from having a few hundred to over 60,000 liquidity providers — thanks to the ETHBNT airdrop.
Liquidity providers on Bancor benefit from the rapidly evolving ecosystem of liquidity tools — from portals like 1inch, Paraswap, EOS Nation and CoTrader, to pool analytics tools like Zerion, ZumZoom and Blocklytics, as well as protocol-level innovations like Bancor’s stable:stable pools and virtual reserve.
With thousands of BNT holders generating passive income from decentralized liquidity pools, we hope this event will inspire a new wave of users to add liquidity on Bancor and effectively own a piece of the protocol.
So what are you waiting for?
About Bancor
Bancor is an on-chain liquidity protocol that enables automated, decentralized exchange on the Ethereum and EOS blockchains. Since 2018, the protocol has been used to process more than $2 billion in non-custodial token conversions. Anyone can build a front-end that interacts with Bancor’s permissionless smart-contract infrastructure:
