Bankcoin Token (BANK)
The BANK token is the native currency of the Bankcoin blockchain and platform, just like ETH on Ethereum.
BANK utility:
Transaction fees Being the native currency on the Bankcoin blockchain, BANK is required to pay fees to the network in order to approve transactions.
Validation Token holders can stake Bankcoin to become a validator. The minimal staking requirement is 100K. The network is growing, currently there are 60 validators. (https://status.bankcoin.io/)
Voting Validators vote on protocol changes with their staked BANK. Which means validators with higher amounts of Bankcoin staked can have a bigger vote on network upgrades and governance changes (until phase 2 where delegation is activated)
Staking (for delegators) Any BANK holder can choose one or more validators to delegate any amount of BANK they wish. They receive a share of the Bankcoin block rewards proportionate to the share of their stake in the total stake, minus the minimum 15% fee paid to the validator(s).
Payments As BANK is the native currency on Bankcoin, sending it does not require interactions with smart contracts. Thus, BANK transfers are potentially faster and less costly in terms of transaction fees.
IMPORTANT: Merely possessing any amount of BANK tokens does not endow holders with any rights to participate in the governance of the Bankcoin platform or any revenue streams related to its real-world performance.
Obtaining BANK
Where to Buy
BANK is available for purchase on a number of centralized (CEX) and decentralized DEX exchanges.
Centralized exchanges: Gate.io, Huobi Global, MEXC Global, AscendEX, Bimart, Bittrex Global
DEXes: Uniswap V2 and V3 (Ethereum), PancakeSwap (Binance Smart Chain), Quickswap (Polygon), Voltage DEX (Bankcoin), Sushiswap (Bankcoin), 1inch (Ethereum), KyberSwap (Ethereum), Loopring (Ethereum).
The best information about the BANK trading volumes and prices on various exchanges can be found on the Coingecko "Markets" page for the token.
A convenient current way of purchasing BANK straight from one's bank account is through using the Bankcoin Cash wallet to deposit Bankcoin Dollars, and then swapping those to BANK via the in-app integration with Voltage DEX.
Where to Farm
At the moment, the BANK token is sometimes used by the project team to power liquidity rewards (yield farming) programs to boost liquidity on DEXes and the participation in the Bankcoin Lending Network.
The ongoing liquidity rewards programs on DEXes can be discovered here.
Other ways of obtaining BANK
From time to time, the Bankcoin team uses BANK to pay rewards to the members of the community for various forms of participation and community engagement. The best way to stay up-to-date about these opportunities is to follow Bankcoin's social channels.
The BANK token is also used to power Bankcoin grants and bounties. Please consult the Grants and Bounties section for more details.
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