English Forward Ltd. Integrates Bancor Protocol to Provide Token Liquidity
Malta, November 19, 2018 — English Forward, the Internet’s largest ‘learn English’ Q&A community, announces its integration of the widely-adopted Bancor Protocol to facilitate liquidity for its EF tokens. English Forward’s adoption of the widely established protocol will have a significant impact in increasing the accessibility and utility of its tokens to the masses when it's released.
Bancor is a decentralized and reliable protocol that provides liquidity among ERC20 and EOS tokens. Its token, BNT, is consistently in the top 100 in market capitalization, and its ease of adoption gives rise to many growth opportunities for new tokens and platforms like EF.
The integration of the Bancor Protocol will give EF token holders access to continuous liquidity regardless of trade volume or exchange listings. This is possible through the Bancor Network, where any integrated token can be automatically converted to any other token directly from a user’s wallet. English Forward users will be able to purchase and sell EF tokens directly from the Bancor Wallet, Scatter (for EOS) or any Web3 Wallet at a formulaically calculated conversion price.
By leveraging the capabilities of smart contracts to build liquidity directly into tokens, the Bancor Protocol’s Smart Tokens act as non-profit automated market makers. Currently, integrated tokens under the protocol include ETH, EOS, BNT (the Bancor Network Token), GNO (Gnosis), BNB (Binance) and a long list of announced projects soon to be activated.
Mr. KEY (Karnika E. Yashwant), Advisor to English Forward said, “English Forward continues to build integrations with the market leaders in and out of the blockchain space to carry the torch in showing what emerging Enterprise Blockchain Tokens can do.”
About English Forward Ltd.
English Forward is a Malta-based edTech company that utilizes a 17-year established community which has reached 250 million users worldwide without a single dollar of advertising in the “learn English” market. English Forward is developing a blockchain-enabled peer-to-peer marketplace to connect English learners of all types with English teachers, tutors, and professors using a cryptocurrency payment model.
Bancor is the world’s largest decentralized liquidity network. Bancor functions similar to a decentralized exchange, with a key difference: orders are processed against automated smart contracts on the blockchain, instead of matching two parties in a trade. Any project can easily integrate their token by creating a Relay on the Bancor Network to automate fair and efficient token conversions for users, directly from their wallets. Tokens on Bancor are instantly convertible for one another, with 8000+ trading pairs across ETH, DAI, BNB & more. Bancor technologies impact organizations and people across the globe, from blockchain teams to token holders to real-world communities in Africa, Asia and beyond.