BNT

Bancor (BNT) is the native utility token of the Bancor Protocol, a decentralized liquidity network built initially on Ethereum and later deployed across multiple blockchains including Polygon and other EVM-compatible chains. BNT serves as the backbone of Bancor's automated market maker (AMM) infrastructure, enabling users to trade tokens and provide liquidity with reduced slippage compared to traditional AMMs through its unique pooling mechanism. The token functions as a governance token, allowing holders to participate in protocol decisions regarding fee structures, supported tokens, and network parameters. BNT is also used to incentivize liquidity providers through farming rewards and serves as a reserve asset within the protocol's architecture. The Bancor Protocol is notable for introducing the concept of single-sided liquidity provision, allowing users to deposit only one token into a liquidity pool rather than requiring equal value pairs, which has influenced the broader DeFi ecosystem's approach to liquidity management. Since its launch, Bancor has established itself as one of the early and persistent decentralized exchange protocols, maintaining significant total value locked and continuing to innovate its mechanisms for capital efficiency and user experience in decentralized trading.