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When we first saw the What Is BANCOR V2? CHAINLINK Integration And Dynamic Automated Market Maker Explained | DEFI video on the Finematics channel, we knew our community would want to stream it as soon as possible. So we wrote this article to publish it as soon as possible.
This video is currently making the buzz on the internet and may end up in the Youtube trends. It was published a few hours ago by the videographer of the Youtube channel Finematics who regularly publishes videos similar to the content we are talking about today.
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For your information, you can find below the description of the video What Is BANCOR V2? CHAINLINK Integration And Dynamic Automated Market Maker Explained | DEFI published by the Youtube channel Finematics:
So what is the latest update to the Bancor protocol called Bancor V2? Will Bancor V2 outcompete other decentralized exchanges such as Uniswap, Curve and Balancer? Also why are Bancor V2 pools integrated with Chainlink? We'll be going through all of this in this video.
Bancor is an on-chain liquidity protocol that enables automated, decentralized token exchange on Ethereum and across blockchains. Launched in 2017 with one of the biggest ICOs in the space, the protocol is made up of a series of smart contracts designed to pool liquidity and perform peer-to-contract trades in a single transaction with no counter-party. Users add liquidity to automated market makers (AMMs) in exchange for trading fees, staking rewards and future voting rights in the BancorDAO. If you need a quick recap on liquidity pools and automated market-making you can watch this video.
DAMMs make use of price oracles to determine if the balance between tokens in the pool should be changed. Price oracles such as Chainlink provide external prices to smart contracts in a decentralized and reliable way. They can, for example, provide a current price of LINK/ETH.
A V2 pool is always initialized in a balanced state so that the price offered by the pool ("pool price") is equal to an external reference "market price" provided by price oracles. The V2 pools are designed to always push the pool price to equal the market price.
Liquidity Pools ►https://youtu.be/cizLhxSKrAc
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