Lawyers representing investors in a class action against BProtocol Foundation, parent company of decentralized liquidity network Bancor, have asked for the case to be tried in the United States rather than Israel. According to court records filed on Nov. 2 in the U.S. Southern District of New York, lawyers for Timothy Holsworth, the lead plaintiff in the class-action lawsuit against defendants BProtocol and four of its executives, argued that the firm’s “repeated and extensive contacts with the United States” for marketing its Bancor Network Token (BNT) made the SDNY the more appropriate venue. Lawyers for BProtocol co-founders Eyal Hertzog, Yehuda …

Bancor is updating its protocol once more to defeat the insidious issue of impermanent loss, which it earlier called “DeFi’s dirty little secret.” Impermanent loss, also called divergence loss, affects exchanges based on automated market makers like Bancor or Uniswap. It happens when the prices of two assets in a liquidity pool diverge significantly, with one side going strongly up or down in value. The effect translates to a loss of value compared to a benchmark “buy and hold” portfolio. Liquidity providers (LP) may take out less money than they would have had if they just held the tokens separately …

What are the risks and limitations of AMMs? Bugs, improper pricing and impermanent loss Despite some positive qualities, AMMs present certain risks and limitations. Hacks and vulnerabilities have already affected exchanges such as Uniswap and Balancer, where some liquidity providers saw their money stolen due to complex smart contract interactions. On the other hand, traders are exposing their strategy for the world to see, enabling front-runners to get their orders in first and exploit legitimate users. Related: Figuring Out Who’s to Blame for DeFi’s Persistent Security Issues Automated market makers also cannot exist without traditional order book exchanges being relied …

The Bancor project has launched a heavily upgraded version of its decentralized exchange, promising to solve what it calls “DeFi’s dirty little secret.” According to a blog post released on Friday, the contracts have been deployed to mainnet in a beta launch mode. Each pool will have its liquidity capped to $1 million until a “pool manager” permanently removes the limitation when it is confirmed safe. As Cointelegraph previously reported, the exchange mitigates the issue of impermanent loss, where liquidity providers could lose some of their money as prices for particular assets fluctuated. The solution involves a combination of incentives …

As the launch of Bancor V2 draws close, the team is inviting the community to take a look at its code and report any vulnerabilities they may find. On Friday, the project released the code for the Bancor V2 smart contracts, which feature a variety of improvements that help both the users and liquidity providers of the protocol. At the same time Bancor is also launching a bug bounty program to incentivize the community to find bugs ahead of the launch. While third party audits are also ongoing, the bounty ensures that the maximum number of eyes has taken a …

Decentralized Finance (DeFi) has been a rapidly growing sector in the crypto space and although the volume of the DeFi ecosystem yet to surpass that of the general crypto market, the new way of lending and saving has garnered positive media coverage and “praise”. DeFi shows great promise and the market is starting to reflect this, as many DeFi-based tokens have been pumping strongly in 2020, with some tokens showing gains above 60% in the past 5 days. According to a report provided to Delphi Digital’s clients, tokens for popular apps in the DeFi space have been showing great gains …

The newest release of the Bancor decentralized exchange appears to be vulnerable to a very serious bug that can result in a significant loss of user funds. According to the tweet posted by Bancor on June 18, the vulnerability affects the latest version of the BancorNetwork smart contract, which was launched on June 16. Users who traded on Bancor and gave a withdrawal approval to its smart contract are urged to revoke it through a specialized website, approved.zone. The team revealed that after discovering the vulnerability, they “attacked the contract as a white-hack” to migrate funds at risk to a …

On April 29, the Bancor (BNT) project revealed its plans for the V2 upgrade of its platform. The overhaul addresses some of the major usability issues that have plagued the project since its launch in 2018. With Bancor V2, scheduled for launch in Q2 2020, the team believes to have solved several risks incurred by liquidity providers to its platform. Bancor operates through automated market makers. This eliminates the need to maintain an order book. Instead, it relies on pools of liquidity and a price slippage mechanism to emulate natural fluctuations in price. Liquidity providers earn trading fees, but in …

Seven crypto companies have been targeted by 11 lawsuits that were filed in a New York federal court on April 3. The suits were filed by Roche Freedman — the same law firm representing the estate of the late Dave Kleiman in the ongoing dispute with self-proclaimed Satoshi Nakamoto, Craig Wright. Eleven lawsuits target seven crypto companies The eleven putative class action suits name dozens of parties including cryptocurrency exchanges Binance, KuCoin, BiBox, and BitMEX and parent company HDR Global Trading Limited, and alleged crypto issuers Block.one, Quantstamp, KayDex, Civic, BProtocol, Status, and the Tron Foundation. Many of the company’s …

Decentralized exchange project Bancor (BNT) is currently in the midst of launching a massive airdrop to all its token holders. Cointelegraph took the occasion to interview Co-founder and Product Architect Eyal Hertzog, and Head of Growth Nate Hindman. The duo shared their thoughts on the airdrop, existing trends in decentralized finance (DeFi) and Bancor’s upcoming transition to a Decentralized Autonomous Organization (DAO). Engaging the community through an airdrop In November, Bancor announced an airdrop of ETHBNT to all those who held its BNT token as of Jan. 1. The airdrop gives the equivalent value of 10 percent of the wallet’s …

The decentralized liquidity network Bancor announced its upcoming airdrop, which will start on New Year’s Eve. In a Nov. 27 press release shared with Cointelegraph, the decentralized exchange platform announced the official launch of its New Year’s Eve airdrop, which will give away its ETHBNT liquidity pool tokens to 60,000 people. Liquidity pools allow members to add liquidity to a decentralized exchange (DEX) and receive a portion of the exchange’s trading fees in return. Making DEXs more liquid is purportedly crucial in ensuring that they can compete with centralized exchanges. Users will be able to either hold the token and …

From the outside looking in, the United States seems to present a host of amazing financial opportunities. However, when it comes to launching cryptocurrency exchanges or altcoin trading platforms, these possibilities start to dwindle and fade quite rapidly. In this regard, over the past few years, the U.S. regulatory landscape has seemed so hostile toward the crypto industry that a number of prominent exchange operators have preferred not to serve U.S. citizens at all — a case in point being Bancor, a decentralized liquidity network, that recently decided to block American citizens from using its website to convert its tokens. …