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How are display currencies calculated?

We support several key display currencies at the moment such as USD, EUR and ETH. This means that each visitor to Bancor can easily select the preferred display currency and view all information (token rates, 24 hours volume, liquidity depth, etc) in the display currency of their choosing.

Since the Bancor Protocol converts token prices into ETH, it must rely on external APIs (which provide the real-time price of ETH in fiat currencies) when displaying token prices in fiat currencies. In order to keep up to date with the rates, the Bancor Protocol uses two popular and reliable APIs:

  1. CoinMarketCap - https://coinmarketcap.com/ 
  2. CryptoCompare - https://www.cryptocompare.com/

Both APIs ensure our data is accurate, up to date and resilient to third-party issues. For instance, if one of the APIs goes down, the Bancor Protocol will fall back on the other API so the display currencies still work on the Bancor wallet.

 

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Disclaimer: When reading this article, please keep in mind the following: (1) Important to notice that wherever referring to any sensitive information of yours, including private keys, key-pairs or other account information, that information is yours. We can only make limited suggestions to how such information may be treated and protected, but the responsibility is yours. You should always make sure your information is protected and kept private, in the best available way; (2) that the information contained herein is a simplified extract of detailed information and sources generally available on the internet. This basic information was collected and displayed in attempt to provide you with better understanding of certain processes and aspects which relate to content and applications on Bancor’s site. Although we do our best to keep this information up-to-date, we cannot always guaranty that. This is since the information originates from third parties or relates to third party services, applications and technologies (such as Metamask, Scatter, EOSToolkit, or EOS), which are unrelated or unaffiliated with Bancor. These third parties’ applications, services and technologies are available on the internet, and may be subjected to applicable terms and conditions. Accordingly, though the said information and third applications, services and technologies (“Third Parties Content”) are believed to be reliable, Bancor provides no warranties regarding them (including their accuracy or completeness). IN NO EVENT WILL BANCOR BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, LOST REVENUES, LOST PROFITS OR LOSS OF PROSPECTIVE ECONOMIC ADVANTAGE RESULTING FROM THE USE OF THE THIRD PARTIES CONTENT EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR FOR ANY CLAIM BY ANOTHER PARTY.

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