Tokenbox TBX Token Relay went LIVE on Bancor Network, effective today. A simple and effective converter, enforced by the Ethereum blockchain smart contracts, is now available for all TBX holders.

In order to provide TBX holders with continuous liquidity at automatically calculated prices, created a Bancor-compliant “Token Relay™”. What does it mean? Basically, from now on the TBX token can be easily converted between the BNT token, ETH or any other token listed on the network, without counterparties and a necessity to use anything rather than a simple web wallet.

2% of total supply of TBX tokens will be held within the Bancor network.

Apart from a very simple conversion, one of the main benefits lays within the conversion fees, which the Token Relay system accumulates over time.

Token Relays are a unique kind of “Smart Token™”, the standard promoted by Bancor, which simultaneously hold two “Connector” token balances — one in BNT (Bancor Network Token) and one in an existing ERC20 standard token, such as TBX. The Token Relay can be purchased or sold directly through its smart contract for either of its Connector tokens, creating a conversion conduit between them and the rest of the tokens in the Bancor Network™. The Tokenbox Token Relay holds both BNT and TBX and allows anyone to easily buy and sell TBX for BNT, ETH, and other member tokens in the network. Prices are determined based on an open-source, non-profit formula which balances buy and sell volumes, eliminating spreads and commissions to middlemen. Token Relays also have configurable fees which can be accumulated to the Connector balances upon each conversion.

Thus, a Token Relay is a vending machine of a sort, which lets TBX-holders benefit from the various token types in the network and convert them easily and directly through a simple Web App.

The Bprotocol Foundation was established in 2017 in order to promote the development and adoption of the Bancor Protocol. It standardizes the creation of “Smart Tokens™,” which can hold one or more other tokens in their smart contracts, creating a “Connector” to a liquidity network of all compliant tokens. In June 2017 the Bancor project raised over $150 million in its Token Generation Event, making it one of the largest fundraising campaigns in the blockchain industry.

Tokenbox is a unique ecosystem that combines cryptocurrency funds under the control of professional portfolio managers and traders on the one hand, and investors on the other. Newly developed trading terminal, multicurrency wallet, mandatory KYC and AML procedures are among Tokenbox main advantages. The project raised $8.3 million during ICO, and TBX tokens are already listed on a cryptocurrency exchange market.

Tokenbox team is excited about the partnership, and is looking forward to creating opportunities for easily converting TBX tokens and providing a continuous liquidity.

To learn more — follow the link to check out a Tokenbox community page!