MyBit Integrates Bancor Protocol to Increase Liquidity

MyBit, an Ethereum-powered ecosystem that connects the global IoT industry, has integrated Bancor’s decentralized Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term network support to its platform to help it offer decentralized applications that are more user-friendly.

We are thrilled to announce that MyBit integrates with Bancor Protocol. Join our Discord here [https://t.co/tLxdkw90Pj ]or read our special blog for more information @CoinJournal @Cointelegraph @cryptonewsday @Bancor https://t.co/wvgkSkTm0W

— MyBit (@MyBit_DApp) June 11, 2018

Bancor, with cross-chain liquidity service, is one of the largest Liquidity Providers Liquidity Providers A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi Read this Term to the crypto industry. MyBit’s users can now convert any two tokens without a counterparty at an automatically calculated price, which is done using the “connector” token method.

Mentioning the advantages of Bancor, MyBit wrote: “And this means we can avoid all of the usual problems associated with them — like trusting others to hold your crypto, excessive fees, a lack of liquidity and having to manually find buyers and sellers.”

MyBit will also extend Bancor’s services to all its DApps. In the official announcement, the firm noted: “We’ll incorporate a one-click buy option within the DApp itself. Plus, any token on the Bancor Network can be converted in a few simple clicks from the MyBit platform.”

MyBit is leveraging the rapid expansion in the field of internet-of-things (IoT) and has developed an investment ecosystem for the booming sector. Anyone, using MyBit’s decentralized investment platform - MyBit DApp - can invest in revenue-generating IoT devices such as robotics, autonomous vehicles, 3D printers, drones, cryptocurrency ATMs, and miners.

Expanding services

MyBit has also recently announced the launch of a decentralized asset exchange - MYDAX - to trade stakes of IoT industry. Moreover, earlier this month, the firm partnered with Ability Concept.

Despite the partnerships and developments, MyBit-issued coins (MYB) has dropped significantly in the bear-clutched market. With a dip of five percent in the daily chart, MYB is trading at $0.08 and has a market cap of little more than $5 million.