Formation Founder’s Club: Welcomes Bancor $BNT
It can be said that the universe is emergent and that every great development stands on the shoulders of the giants that came before. Just as the Internet stands on the shoulders of computing, Blockchain stands on those of the Internet. As we launch Formation FI on the shoulders of DeFi and all the great developments since Bitcoin, we are especially inspired by the work of the team behind Bancor Protocol (which itself stands on the great shoulders of Ethereum). Thanks to Bancor, DeFi began to develop and lead us to where we are today, enabling Formation Fi to build our vision of intelligent crypto investing in a decentralized model.
In 2017, Bancor raised more than $153M worth of Ether at the time during its Token Generation Event, the largest yet to date. This helped ignite an entirely new approach to financing innovations in the blockchain space and allowed them to deploy a working model of the first decentralized liquidity-provisioning network. Their invention would become known as one of the first blockchain primitives: the Automated Market Maker (AMM), using the concept of on-chain liquidity. Without Bancor’s original idea and daring experimentation, the refined simplicity of UniSwap (which replaced a unique network token with the existing Ether, so allowing further modifications) and other contenders would have taken much longer to form and been harder to garner support for, much less capital.
The founders of Bancor are pioneers and trailblazers who continuously expand and redefine the outer boundary of DeFi innovation as we know it. Most recently, their upgrades such as Impermanent Loss Protection and Single Sided Token Exposure have provided much-needed solutions to problems that plagued the first generation of AMMs across the board. Formation Fi is similarly working hard to lead DeFi investors to the next generation of intelligent, personalized, risk-adjusted funds that succeed over the long term. We are grateful to have one of the most experienced and creative teams in blockchain among our supporters as we strive to make Formation FI just as foundational.
The Formation FI Team
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