Banker Token Utility Revisited
Banker (BNK) is the native currency of Bankera’s ecosystem. BNK tokens can be utilized in several ways while using our products, as well as bring additional benefits to their holders. In today’s blog post, we take a closer look at the BNK token and its use cases.
Lower interest rates at SpectroCoin Loans
The first platform for BNK token application is the crypto-backed lending product of our ecosystem, SpectroCoin Loans. SpectroCoin Loans allows its users to borrow fiat and cryptocurrencies by pledging their crypto holdings as collateral.
As in any other lending platform, loans issued by SpectroCoin come with individual interest rates that need to be covered upon returning the loan. However, if the interest is paid in Banker tokens, the rates are lowered by 3%.
If you would like to take a loan at SpectroCoin Loans and enjoy lower interest rates, please ensure that you have enough BNK in your wallet to cover the interest payments.
Free trading pairs at SpectroCoin Exchange
Another product that provides utility for Banker tokens is SpectroCoin Exchange. Clients of the peer-to-peer cryptocurrency trading platform can trade major cryptos, including Bitcoin, Ethereum, Litecoin, Ripple, and several others, as well as a number of stablecoins, such as Tether, at their desired prices.
For the best trading experience, SpectroCoin Exchange users should utilize BNK token trading pairs. The token is paired with all available currencies on the platform, and these pairs are fee-free – there are no exchange fees associated with them.
Thus, it is always more beneficial not to make a direct exchange between your desired currencies – for instance, exchange BTC to LTC – but instead use BNK as the intermediary currency. In this way, you will sell BTC for BNK first and then exchange your BNK to LTC, avoiding all trading costs.
Net transactional revenue commissions
Finally, BNK token holders are entitled to 20% of the net transactional revenue share of all products within the Bankera ecosystem, including Bankera, SpectroCoin, SpectroCoin Exchange, and SpectroCoin Loans. The net transactional revenue payouts are calculated on a weekly basis and distributed to holders in Ethereum via the smart contract of BNK.
While the Banker tokens already offer a wide variety of options to utilize them, our team is preparing additional use cases for the token. Follow our news channels to be the first to hear more about the future possibilities of BNK!
11 February, 2021