Bancor

Impermanent Loss: What Is It and How Can I Reduce Its Impact?

Crypto Outperforms Traditional Markets With DEX Tokens Leading the Way: A Data Perspective by IntoTheBlock

## ما هي بانكور (BNT)؟

تتكون بانكور (Bancor) من سلسلة من العقود الذكية التي تدير تحويل الرموز المشفرة على سلسلة الكتل. يجعل البروتوكول من عملية تحويل العملات المشفّرة بسيطة وسريعة دون الحاجة إلى منصة تداول. حيث تدير العقود الذكية للبروتوكول مجمعات السيولة التي تربط مختلف الرموز المشفرة المتاحة في الشبكة.

الرمز المشفّرة الرئيسي المستخدم على الشبكة هو "بانكور" ؛ BNT. في الوقت الحالي، تعد بانكور ويونيسواب في طليعة هذا الاتجاه الجديد للتمويل اللامركزي.

### من هم مؤسسو بانكور؟

تأسست بانكور من قبل إيال هيرتزوغ، ويودي ليفي، وغاليا، وغاي بنارتزي في عام 2017. وقد أطلق عليها اسم "بانكور" تكريماً لجون ماينارد كينز، الذي كان أول من ابتكر هذه الكلمة قبل 76 عاما لوصف عملة فوق وطنية.

**إيال هيرتزوغ** هو مصمم المنتجات الخاصة بالبروتوكول، مثل BNT، والمنتجات الأخرى التي تستخدم الشبكة. إنه شخصية معروفة في مجال التشفير وكان رائد أعمال في هذه التكنولوجيا لأكثر من 20 عاماً. حيث كان أسس سابقاً "ميتا كافيه"، وهو موقع بارز لمشاركة الفيديو في إسرائيل لديه أكثر من 50 مليون مستخدم.

**غاي بنارتزي** هو الرئيس التنفيذي في بانكور. وشارك هو الآخر في تأسيس "ماي توبيا" في عام 2005، وهي شركة تقوم بتطوير ألعاب عبر منصات الشبكات الاجتماعية.

أما **غاليا بنارتزي** فهي رائدة أعمال في مجال التكنولوجيا لسنوات عديدة، كما شاركت في تأسيس بروتوكول بانكور. حيث تشغل حالياً منصب مطور الأعمال. إلى جانب كونها الرئيس التنفيذي والمؤسسة لـ "بارتيكل كود".

**يودي ليفي** هو المدير الفني في بانكور. كان رائد أعمال في مجال التكنولوجيا لأكثر من 20 عاماً. وشارك سابقاً في تأسيس "آبكوين"، وهو تطبيق يسمح للمجتمعات بإنشاء عملاتها الخاصة.

### ما الذي يميّز بانكور؟

توفّر بانكور عملية تحويل سلس بين الرموز المشفّرة المستخدمة في الشبكة. وهذا ما يلغي الحاجة إلى منصات التبادل أو الوسطاء. حيث يعتمد البروتوكول على عدة مجمعات سيولة مستقلة للرموز المشفّرة التي تدعمها الشبكة.

ويكمن تفرد بانكور في هدفها المتمثل في خلق سيولة للعملات البديلة ودفع مكافآت لمقدمي السيولة. يقوم البروتوكول بتحويل العديد من الرموز المشفرة إلى رموز أخرى، بما في ذلك تلك التي تعمل على سلاسل كتل أخرى، دون تدخل طرف ثالث.

BNT، هو الرمز المشفّر الرئيسي للبروتوكول، وهو العملة الافتراضية التي ترتبط بها الرموز المشفّرة التي تنشئها العقود الذكية على الشبكة. حيث يعتبر إنشاء هذه الرموز المشفّرة عبر العقود الذكية طريقة كان بانكور أول من استخدمها عبر تقنية سلسلة الكتل. ويكمن الهدف الرئيسي من وراء إنشاء هذه الرموز المشفّرة الذكية هو توفير حل دائم لمشاكل السيولة، وهو ما يميّز بانكور عن غيرها من صانعي السوق الآخرين.

### كم عدد عملات بانكور (BNT) الموجودة في التداول؟

في يناير، اتخذت بنكور خطوة لتوفير المزيد من السيولة وللتعريف برمزه المشفّر الأصلي. حيث قامت بتوزيع رموز سيولة (ETH/BNT) بقيمة 60,000 دولار لكل محفظة تحتوي على الحد الأدنى المطلوب من BNT. وكان البروتوكول قد جمع 144 مليون دولار خلال عرضه الأولي للعملة المشفّرة في عام 2017.

ورغم أن البروتوكول يسمح بتوفير السيولة للرموز المشفّرة الأخرى أيضاً. إلا أنه يجب أن تتوافق هذه الرموز المشفّرة (تسمى أيضاً الرموز الاحتياطية) مع معايير (ERC-20) أو (EOS) لشبكتي إيثريوم وترون على التوالي.

يدعم نظام بانكور البيئي نموذجاً رمزياً ثنائي الاتجاه: رموز السيولة المشفّرة ورموز الترحيل المشفّرة.

بحيث يكون **الرمز المشفّر السائل** هو رمز مشفّر يتم إنشاؤه بشكل تلقائي بناء على احتياطي واحد بحيث يتم سكّه أو تدميره حسب توفّر ذلك الاحتياطي. ويتم ذلك إما عن طريق إرسال الرموز المشفّرة الاحتياطية إلى عقده الذكي أو إزالتها منه. ومن أجل استخدام شبكة بانكور، يجب أن يكون للرمز المشفّر السائل رمز مشفر احتياطي يدعمه، سواء كان ذلك BNT أو إحدى المشتقات المالية من BNT.

من ناحية أخرى، تستخدم **رموز الترحيل المشفّرة** في التخزين المؤقت لتوفير السيولة. وبالمقابل، يحصل حاملو هذه الرموز المشفّرة على نسبة مئوية من الأرباح المستقبلية لبانكور. تشير رموز الترحيل المشفّرة إلى نسبة المبلغ المخزّن مؤقتاً إلى القيمة الإجمالية في مجمّع السيولة.

### كيف يتم تأمين شبكة بانكور؟

يتيح الرمز المشفّر الخاص بالبروتوكول للمتداولين توفير السيولة للمجمّعات المتاحة على الشبكة. حيث يمكن لأي شخص المساهمة بالسيولة في المجمعات.

وعندما يساهم مقدمو السيولة بالسيولة في المجمع، يصبحون مؤهلين لتلقي مكافآت عن الصفقات التي تمر عبر المجمع. فكلّ مقدم للسيولة يحصل عند القيام بذلك على رموز مشفّرة خاصة بمجمّع السيولة المحدد، وهي تمثل نسبة مساهمته المئوية من إجمالي القيمة المقفلة.

### كيف يمكنك شراء عملة شبكة بانكور (BNT)؟

حتى وقت كتابة هذا التقرير، استضافت بانكور أكثر من 2 مليار دولار من الصفقات لمختلف الرموز المشفّرة، ونظيرتها العابرة لسلاسل الكتل. كما درّت الشبكة الملايين من التخزين المؤقت، وتمّ توزيعها على مخزّني رموز BNT المشفّرة. من بين منصات التداول العديدة التي تدعم BNT توجد [Binance](https://coinmarketcap.com/ar/exchanges/binance/)، وCoin Switch، وZenGo. يمكنك الحصول على مزيد من المعلومات هنا حول كيفية شراء BNT وغيرها من العملات المشفرة [هنا](https://coinmarketcap.com/alexandria/categories/blog).

Ledger

Coinbase

Trust Wallet

MetaMask

SolFlare

Backpack

Phantom

Atomic wallet

Ethereum

Shiba Inu

Chainlink

UNUS SED LEO

Uniswap

QuarkChain

Bifrost

Origin Protocol

Tokamak Network

Radworks

OMG Network

Ethernity

Goldfinch

Polymath

Polyhedra Network

Octopus Network

Scotty The Ai

Gorilla In A Coupe

Velar

DODO

UMA was founded in 2018 by Allison Lu and Hart Lambur, two ex Goldman Sachs traders, with the goal of making global markets universally fair, accessible, secure and decentralized.

The team drew inspiration from traditional finance derivatives to define an open-source protocol to allow anyone, anywhere, to design and build trustless financial contracts.

Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms.

To learn more about this project, check out our deep dive of Ren.

Formerly known as Republic Protocol, Ren launched RenVM, its virtual machine mainnet, in May 2020, having completed a $34 million initial coin offering (ICO) in 2018.

The protocol’s native token, REN, functions as a bond for those running nodes which power RenVM, known as Darknodes.

Ren aims to expand the interoperability, and hence accessibility, of decentralized finance (DeFi) by removing hurdles involved in liquidity between blockchains.

Balancer is an automated market maker (AMM) that was developed on the Ethereum blockchain and launched in March 2020. It was able to raise a $3M seed round by Placeholder and Accomplice. Balancer protocol functions as a self-balancing weighted portfolio, price sensor and liquidity provider. It allows users to earn profits through its recently introduced token ($BAL) by contributing to customizable liquidity pools.

To learn more about this project, check out our deep dive of Balancer(https://coinmarketcap.com/alexandria/article/what-is-balancer.

The protocol operates a few types of pools:

Private pools give the owner governance over the pool, and make the person the sole contributor of liquidity to the pool. Also, all the parameters are mutable by the owner.

Shared pools are for those who want to become liquidity providers (LPs). The LPs are rewarded with the Balancer Pool Tokens (BPTs).

Smart pools are similar to private pools but are controlled by a smart contract. They also reward using BPTs and allow anyone to contribute liquidity to the pool.

Balancer

0x is an infrastructure protocol that allows users to easily trade ERC20 tokens and other assets on the many different blockchains (including Ethereum) without relying on centralized intermediaries. It is a protocol for decentralized exchange.

0x achieves this decentralized exchange functionality using a collection of open-source, publicly auditable smart contracts that work together to produce a flexible, low-friction trading protocol that developers can easily weave into their products.

The protocol is used by companies building web3 apps such as wallets, DEXes, portfolio trackes, and others. It is a used by hundreds of developers for their projects. The protocol has facilitates over $200B in trading volume since its inception. One can track its usage in its dedicated https://explorer.0x.org/.

The protocol is powered by an ERC20 governance token known as ZRX. ZRX holders can participate in protocol governance, having direct power over protocol changes and its community treasury.

0x Protocol

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.

The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.

The network is powered by the OMG utility token, which can be used as one of the payment methods for fees on the OMG Network, and will eventually be stakable — helping to secure the network in return for rewards.

Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.

To learn more about this project, check out our deep dive of Compound.

When a user deposits tokens to a Compound pool, they receive cTokens in return. These cTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. For example, by depositing ETH into a pool, you will receive cETH in return. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.

On the flip side, borrowers can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 75%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.

Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.

Compound

Band Protocol is a cross-chain data oracle platform that is able to take real-world data and supply it to on-chain applications, while also connecting APIs to smart-contracts to facilitate the exchange of information between on-chain and off-chain data sources.

By supplying reputable, verifiable real-world data to blockchains, Band Protocol unlocks a range of new use cases for developers to explore — since they can now use any type of real-world data as part of their decentralized application (DApp) logic, including sports, weather, random numbers, price feed data and more.

Band Protocol initially launched as an ERC-20 project on the Ethereum blockchain in September 2019, but transitioned to the Cosmos network in June 2020 with the release of Band Protocol 2.0. The new protocol is built on BandChain using the Cosmos SDK. Oracle nodes on BandChain not only relay data but are also involved in block production/validation, giving them a dual role.

BAND is the native token of the Band Protocol ecosystem and is used as collateral by validators involved in fulfilling data requests, as well as the main medium of exchange on BandChain — being used to paying for private data.

Band Protocol

ZEN is the governance and utility token for Horizen, a zero-knowledge-enabled network of blockchains powered by the largest node infrastructure in the industry. Blockchain interoperability is enabled by the Zendoo protocol, which uses SNARK-verification and allows for complete flexibility in sidechain type, consensus, and speed. Cryptographic verification of networked chains offers massive scale, and the network currently supports up to 10,000 sidechains with a throughput limit of 10,000,000 TPS.

Zendoo makes Horizen a permissionless network of blockchains. Developers can deploy their blockchains within the ecosystem using a variety of SDKs. In 2023, the ecosystem team launched Horizen EON, a public proof-of-stake sidechain and an EVM-compatible smart contracting platform that allows developers to efficiently build and deploy dapps on the Horizen ecosystem, while benefiting from the Ethereum ecosystem. Since going live with Horizen EON, DeFi projects including SpookySwap, Ascent Exchange, and Yuzu have successfully integrated into the Horizen ecosystem. Get started on Horizen EON today!

Horizen's native cryptocurrency, ZEN, is a mineable PoW coin currently trading on major exchanges, including Coinbase and Binance. ZEN can be staked to participate in Horizen's nearly 50,000 full node network.

While ZEN was previously a privacy token, following ZenIP 42204 in June of 2023, the network removed its existing privacy features in favor of moving towards a vision of adaptability and responsible, scalable growth.

Horizen

Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It is building the infrastructure to provide trusted access to Web3, allowing individuals and enterprises to rest assured that through regulatory compliant digital identity solutions, users and their privacy come first.

The Ontology blockchain is a high speed, low cost public blockchain. It is designed to bring decentralized identity and data solutions to Web3, with the goal of increasing privacy, transparency, and trust. To achieve this, users and enterprises are provided with the flexibility to build blockchain-based solutions that suit their needs, while also ensuring regulatory compliance. Through Ontology’s Ethereum Virtual Machine (EVM), Ontology ensures frictionless compatibility with Ethereum, the first step in the creation of the Ontology Multi-Virtual Machine and further interoperability for the chain.

At its launch, Ontology chose to forego the popular initial coin offering (ICO) model in favor of a series of community distributions and airdrops of its ONT cryptocurrency.

This helped to quickly establish both organic price discovery and a passionate community and helped the project to avoid subsequent regulatory scrutiny.

For example, for a brief period any person who signed up for the Ontology newsletter received an airdrop of free 1,000 ONT, which reached a value of $10 per token soon after the token became listed on major exchanges like Binance.

Ontology launched its own MainNet on June 30, 2018 and has been up and running smoothly since.

Ontology

Storj, pronounced as “storage,” is an open-source cloud storage platform. Basically, it uses a decentralized network of nodes to host user data. The platform also secures hosted data using advanced encryption.

In a white paper published in December,2014, Storj was first introduced to the world as a concept. It was to be a decentralized peer-to-peer encrypted cloud storage platform.

Two years later, an updated white paper was published. Here, a decentralized network  — connecting users who need cloud storage space with those who have hard drive space to sell — was described. The platform was launched in late 2018.

People with hard drive space and good internet connectivity can participate in the network. They become a unit in the network, called a node. Space providers are rewarded by Storj tokens.

Storj

Basic Attention Token, or BAT, is the token that powers a new blockchain-based digital advertising platform designed to fairly reward users for their attention, while providing advertisers with a better return on their ad spend.

To learn more about this project, check out our deep dive of Basic Attention Token.

This experience is delivered through the Brave Browser, where users can watch privacy-preserving adverts and receive BAT rewards for doing so. On the other hand, advertisers can deliver targeted ads to maximize engagement and cut down losses due to ad fraud and abuse.

The Basic Attention Token itself is the unit of reward in this advertising ecosystem, and is exchanged between advertisers, publishers and users. Advertisers pay for their advertising campaigns in BAT tokens. Out of this budget, a small portion is distributed to advertisers, while 70% is distributed to users — whereas the intermediaries that typically drive up advertising costs are cut out of the equation to improve cost-efficiency.

Basic Attention Token launched in 2017 following one of the fastest sell-out initial coin offerings (ICOs) of all time, with the platform raising a total of $35 million in under a minute. Since then, it has rolled out its attention-based advertising experience to users in most countries through its Brave Rewards program.

As of November 2020, the United States, the United Kingdom and Canada had the most active advertising campaigns.

Basic Attention Token

Yearn.finance is an aggregator service for decentralized finance (DeFi) investors, using automation to allow them to maximize profits from yield farming.

Its goal is to simplify the ever-expanding DeFi space for investors who are not technically minded or who wish to interact in a less committal manner than serious traders.

Launched in February 2020, the service, formerly known as iEarn, has seen huge growth in recent months as new products debuted and developers released in-house token YFI.

yearn.finance

Qtum (pronounced ‘“quantum”)  is a proof-of-stake (PoS) smart contract open-source blockchain platform and value transfer protocol. It aims to bring together the strengths of Bitcoinand Ethereumin one chain. Qtum is built on Bitcoin's UTXO transaction model, with the added functionality of smart contract execution and DApps. Recently, the platform added support for DeFi applications. As of March 2021, there are more than 20 tokens created on the Qtum blockchain.

To learn more about this project, check out our deep dive of Qtum.

The project was announced in March 2016 and held an ICO a year after, in March 2017, which brought its founders $15 million USD. The Qtum main chain was released on Sept.13, 2017. Initially, the Qtum coin was issued as a ETH-20 token, but with the launch of the mainnet, it was converted to native blockchain.

Qtum

Civic is a blockchain-based identity management solution that gives individuals and businesses the tools they need to control and protect personal identity information.

The platform is designed to change the way we think about identity verification by giving users more control over their personal data, while allowing them to access a wide range of services without needing to fork over excessive amounts of personal information.

Civic's identity verification solution uses distributed ledger technology to authorize identity usage in real time, and is used to sparingly share information with Civic partners after authorization by the user.

Unlike some other identity management services, Civic users store all their sensitive data on their mobile device. Users are able to authorize the sharing of specific personal data by providing a biometric signature through the Civic app.

The Civic ecosystem is enabled by a unique utility token known as the Civic token (CVC), which is used for the settlement of identity-related transactions between Civic participants — such as between a customer and service provider.

Users can earn CVC tokens for completing a variety of tasks, such as signing up for a service through the platform or introducing new users, while validators can earn CVCs for validating documents for service providers.

Civic was launched in 2018, following a sell-out initial coin offering (ICO) the year prior.

Civic

Apps use ICON to operate cross-chain seamlessly, build momentum and gain reputation. ICON's Cross-Chain Framework simplifies cross-chain development with its easy-to-use xCall messaging standard and connections to secure bridging protocols.

ICON

Augur

Synthetix is building a decentralized liquidity provisioning protocol that any protocol can tap into for various purposes. Its deep liquidity and low fees serve as a backend for many exciting protocols on both Optimism and Ethereum. Many user-facing protocols in the Synthetix ecosystem, such as Kwenta (Spot and Futures), Lyra (Options), Polynomial (Automated Options), and 1inch & Curve (Atomic Swaps), tap into Synthetix liquidity to power their protocols. Synthetix is built on Optimism and Ethereum mainnet. The Synthetix Network is collateralized by SNX, ETH, and LUSD, enabling the issuance of synthetic assets (Synths). Synths track and provide returns on the underlying asset without requiring one to directly hold the asset. This pooled collateral enables an array of on-chain, composable financial instruments backed by liquidity from Synthetix. Some of the most exciting upcoming releases from SNX are Perps V2, which hopes to enable low-fee on-chain futures trading through the usage of off-chain oracles, and Synthetix V3, which aims to rebuild the protocol to achieve its earliest goal, being a fully permissionless derivatives protocol. Learn more about Synthetix on their blog or by joining the SNX Discord.

The platform aims to broaden the cryptocurrency space by introducing non-blockchain assets, providing access to a more robust financial market.

Synthetix

Curve is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity.

Launched in January 2020, Curve is now synonymous with the decentralized finance (DeFi) phenomenon, and has seen significant growth in the second half of 2020.

In August, Curve launched a decentralized autonomous organization (DAO), with CRV as its in-house token. The DAO uses Ethereum-based creation tool Aragon to connect multiple smart contracts used for users’ deposited liquidity. Issues such as governance, however, differ from Aragon in their weighting and other respects.

Curve DAO Token

Voyager Token is a cryptocurrency broker that provides investors with a trusted and secure access point to crypto asset trading. Voyager is built to serve both retail and institutional investors with a nigh-instant solution for trading crypto assets.

The crypto brokerage service which launched in October 2018 now supports over 55 crypto assets and has a unique smart order routing technology that connects it with over a dozen crypto exchanges. The mobile app of the Voyager Token launched in January 2019, making it even easier for users to trade cryptos.

The native token of the brokerage, Voyager Token (VGX), is used to reward users within the Voyager ecosystem. VGX also generates interest when held in the Voyager app, offers cashback rewards, and other services exclusive to Voyager users.

Voyager also offers 100 percent commission-free transactions – including buying and selling. Traders only have to pay only the quoted price when executing an order on the platform.

Voyager Token

SushiSwap (SUSHI) is an example of an automated market maker (AMM). An increasingly popular tool among cryptocurrency users, AMMs are decentralized exchanges which use smart contracts to create markets for any given pair of tokens.

SushiSwap launched in September 2020 as a fork of Uniswap, the AMM which has become synonymous with the decentralized finance (DeFi) movement and associated trading boom in DeFi tokens.

SushiSwap aims to diversify the AMM market and also add additional features not previously present on Uniswap, such as increased rewards for network participants via its in-house token, SUSHI.