At the initiative of @Brianna. We have posted a proposal on the Bancor governance forums to facilitate a listing of TRIBE on that exchange.
BANCOR is a blockchain protocol that allows users to convert different virtual currency tokens directly and instantly instead of exchanging them on an exchange. It considers itself to be the first decentralized trading protocol.
In practice Bancor utilizes its own native token BNT as the counterparty to every AMM pair, which exchange assets algorithmically using on-chain reserves. They turn pooled market-maker liquidity into an asset class (“liquidity positions”), allowing for broader, more competitive involvement in market-making.
The advantages to listing TRIBE on more exchanges has been discussed ad nauseum on this forum, and of course a further listing on Bancor would also facilitate better price discovery and additional sources of liquidity for TRIBE. What of additional interest to TRIBE holders though, would be Bancor v2.1’s Impermanent Loss Protection programme.
IL is a common plight for liquidity providers, Bancor’s feature would allow depositors of TRIBE to accrue overtime full entitlement to IL protection. To quote Bancor’s own materials: “Using an elastic BNT supply, the protocol is able to co-invest in pools alongside liquidity providers and pay for the cost of impermanent loss with swap fees earned from its co-investments. When a user makes a new deposit, the cover offered by the protocol increases at a rate of 1% each day the stake remains live, and matures to full protection after 100 days.”
Apart from providing another secure source of yield for TRIBE holders, the Bancor listing may facilitate greater FEI utility when Bancor v3 launches with support for more stablecoin pairs by building a robust relationship between the two communities.