Learn about how the Price Floor contract work
https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca
You need to know this, when people sell the bnt through the price floor contract, the just like asking for refund, They give back the BNT which goes to the Bancor foundation (not gonna get destroyed) then the foundation pay them back 0.01eth https://blog.bancor.network/the-community-of-the-currency-9770087fde17
a smart contract that will buy back BNT for 0.01 ETH (the initial price) whenever it is available, according to its calculated price. The purchased BNT will be added to the Foundation’s long-term budget,
Right now Bancor team hold 50% of Bnt, so its very hard for the price to go down to zero. Because to go to zero, every token need to be sell off.
https://www.bancor.network/fundraiser
So by buying back through the price floor contract, the team just add more BNT worth of 120k eth to their existing 50% holding. This will make the price lots stable in future.
And its important, ' With the more number of token, the value will increase with it.
Anyone that want to buy bnt after that need to buy through BNT smart contract that will created new token.
Posted Jun 26, 2017, 8:30 PM UTC · edited