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Midex Set to Be First Exchange That Introduces Bancor Protocol

Traders Magazine Online News, April 6, 2018

John D'Antona Jr.

The Midex team has announced the integration of the Bancor Protocol into the Midex exchange. The main goal of the integration is to allow users to buy and sell Midex tokens instantly, by allowing Middex to be converted to any other token on the Bancor Network. The Bancor Protocol allows tokens to be infinitely liquid, as the automatic pricing mechanism adjusts token price as quantity of tokens staked decreases.

Midex will be one of the first cryptocurrency exchanges to be using the Bancor Protocol. The integration will lead to a greater volume of operations on the platform due to liquid tokens.

The Bancor Protocol is a new standard for cryptocurrency called Smart Tokens™, which converted automatically and continuously into other tokens in the network according to algorithmically calculated rates. This allows exchanging tokens without the involvement of intermediaries.The Bancor converts all tokens into private BNT, and then users can exchange them for the required token or leave in the original currency of the project.
The Bancor Protocol uses the "connector" modules that contain the balances of other ERC20 protocol tokens within the framework of smart-contract. The Bancor formula recalculates prices constantly to maintain the balance between Smart Tokens™ and their “connector”.

Unique features of the  Bancor protocol include:

High liquidity (assets are sold and bought at the price as close to market as possible, the protocol guarantees the availability of value, so there is no need to use exchanges)
Low volatility (the availability of resources and independence from exchanges protect the course from sudden fluctuations)
No additional commissions (there is only an obligatory commission for Smart Tokens and this is a commission of the exchange, which is relatively low)

No spread(the same price for the acquisition and liquidation) of Smart Tokens

Thus, Midex’s integration of the Bancor Protocol will allow users of the Midex exchange to purchase liquid assets that are always available for buying and selling at predictable prices.

Midex Exchange is a platform for all types of operations with cryptocurrency. It has licenses in Estonia. To create the exchange, a powerful international team of lawyers, Swiss bankers, and well-known blockchain enthusiasts are involved. Including Eyal Hertzog, co-founder of Bancor, that raised more than $ 150 million during the ICO.

Midex developers promise to combine the best from well-known exchanges such as Bittrex, Binance, Bitfinex, and Poloniex in the interface of the exchange. The peculiarity of the exchange is its own blockchain account with the record of all transactions made on the exchange - for absolute transparency of the bidding process.

This product is the first service that allows working with crypto-exchanges from one interface using private API keys. Trading games on the demo version of the exchange give the opportunity to test its functionality to users with different trading experience.

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