Viberate has just announced that their token for the live music industry, VIB, has been integrated into the Bancor Protocol. The integration is making the token one of the most liquid ones in the music industry. Bancor’s widget is also featured on Viberate.io.
Liquidity has never been a problem for VIB which saw 24-hour volumes reach incredible highs in the past weeks, with an all-time high of over $430 million. Still, it is important to take advantage of services that are setting the standard in the crypto industry and ensuring that the token holders can convert their tokens whenever they want, regardless of the volume.
And this is exactly what Bancor is bringing to the table with their liquidity network. The Bancor Protocol is a technical revolution allowing tokens to be instantly converted without matching two parties with opposite wants. The magic is in the math, with a simple formula balancing buys and sells so that every token in the network maintains a formulaic relationship with the others. The result is continuous liquidity regardless of the trade volume or exchange listings. “With removing the counterparty of centralized exchanges Bancor network is doing a great job,” says Viberate’s advisor and Bitcoin pioneer Charlie Shrem, who agrees on the significance of their mechanism.
Viberate activated a Relay Token with $450,000 worth of VIB and $450,000 worth of BNT and will increase those volumes if needed.