The following document addresses Frequently Asked Questions about Bancor’s airdrop of ETHBNT on all BNT holders.
What do I need to do to receive the Bancor airdrop?
Hold BNT on January 1st, 2020 at 12:00AM EST in a non-custodial wallet or in the wallet of a participating exchange.
Binance was recently announced as the first participating exchange supporting the airdrop.
What exactly is being airdropped?
The token being airdropped is ETHBNT, the pool token of the ETH:BNT liquidity pool. ETHBNT collects fees from every ETH-based conversion on the Bancor Network.
What can I do with ETHBNT?
You can hold ETHBNT and collect fees from every ETH-based conversion on Bancor.
You can convert ETHBNT into another Bancor pool token, and collect fees from another Bancor liquidity pool, such as USDT:BNT or USDC:USDB.
You can convert ETHBNT into ETH, EOS, or any other ERC20 or EOS token in the Bancor Network.
How much ETHBNT will I receive in the airdrop?
The airdrop is effectively a 10% bonus on your BNT holdings. For example, if you hold 100 BNT, you will receive an amount of ETHBNT in your wallet equal to the value of 10 BNT.
What is the benefit of holding ETHBNT?
Holding ETHBNT entitles you to a proportional share of the fees collected from every ETH-based trade on Bancor. The ETH:BNT liquidity pool, which processes these trades, extracts a liquidity provider fee from each trade, which is redeposited back into the ETH:BNT pool. The percentage taken from each trade is first set by the pool owner, and will later be voted on by ETHBNT holders.
As an ETH:BNT liquidity provider, you may withdraw the accumulated liquidity from the ETH:BNT pool at any time by converting your ETHBNT tokens on Bancor or on an external ETHBNT market.
After the BNT holder snapshot, when should I expect to receive the ETHBNT in my wallet?
You should expect to see your ETHBNT within 10 days of the BNT holder snapshot on January 1.
How can I track my ETHBNT holdings?
Ecosystem developers are building various interfaces that allow you to optimize and track your pool holdings on Bancor.
Current tracking & optimization tools include ZumZoom and 1inch.exchange, with more tools coming soon.
If you’re a DeFi-enabled wallet, dashboard or analytics provider, we’d love to speak with you about building liquidity pool analytics and management into your product.
Will existing liquidity providers (i.e., relay token holders) also receive the airdrop?
Yes, users holding pool tokens of a BNT or USDB-based liquidity pool on January 1st 12:00AM will receive the ETHBNT airdrop.
Will USDB minters receive the airdrop?
Yes, users who have locked up BNT to mint USDB will receive the ETHBNT airdrop.
What if I hold BNT on EOS - will I still receive the airdrop?
Yes, users who hold BNT on EOS will receive the ETHBNT airdrop.