Whitelisting of ANKR plus 1M BNT co-investment

This proposal is expected to appear on Snapshot for voting on Monday 19, April 2021 at 12:00 pm UTC.

The proposal is being resubmitted due to an issue that interrupted its first submission on Snapshot; the author withdrew their vBNT, causing the proposal to be lost from the voting page for an extended period.

TL;DR

  • Proposal to whitelist ANKR.
  • Proposed co-investment is 1,000,000 BNT.
  • ANKR has no other staking opportunities.
  • ANKR is well-established project with Tier 1 team and backers.

ANKR token address:

Project Website: https://www.ankr.com/

Token Security

ANKR does not have an elastic supply, or rebase mechanism. The ANKR is backed by tier one team and has no plans to mint more tokens. The current token supply is set on

10,000,000,000 fixed supply from which 6,996,232,711 are in current circulation.

The contracts and addresses with the highest concentration of ANKR are held by the ANKR team and sit on the exchanges.

Project

Ankr uses Cloud-Native, container-based environments to build its own architectural and resource allocation algorithm to include nearly all types of infrastructure resources. Cloud-Native allows Ankr to focus on its own technical details via integrating with various Cloud-Native solutions such as Observability & Analysis (Prometheus, Fluentd, Jaeger), Service Mesh and Discovery (Envoy, Istio), Streaming (GRPC), Application Definition (Helm) etc.

Using Ankr’s distributed cloud computing network (DCCN) platform, developers and operators using applications do not directly interact with infrastructure providers’ API’s. Instead, a local orchestrator handles resource allocation automatically. The Ankr DCCN system is deployed and distributed over the computing resources managed by Kubernetes across all geographic locations. Resources configured into clusters in Kubernetes are connected to each other via a specialized type of cluster called Ankr Hub. At this time Ankr Hubs are fully set up and controlled by Ankr and serve as nodes to relay and dispatch the computing tasks to other working clusters.

Working products:
Ankr - A World Powered by US - open API

Ankr - A World Powered by US - deploy node or maining facility

Ankr Web 3.0 infrastructure | Blockchain nodes & APIs | Ankr - calulaor

https://eth2.ankr.com/ - eth 2.0 staking

Tokenomics

Ankr tokens are used as the native currency on the Ankr cloud platform. That means cloud providers are being paid for their services in Ankr tokens. This ensures demand for the token. Consumers have to buy Ankr tokens in order to use the platform. Providers have to accept them in order to participate and earn money. There is no a possibility for investors to stake Ankr tokens yet. Therefor bancor would be the best place to stka ANKR tokens. In addition to that, Ankr tokens are being used as governance tokens to decide on future tokens development.

Investors:

  • Pantera Capital
  • AlphaCoin Fund
  • Basics fund
  • Bixin Capital
  • BlockoxFund
  • Carnaby Capital
  • Sailor Capital
  • DHVC
  • GT Blockchain Investments
  • Kosmos Capital
  • LinkVc
  • Lemniscap
  • LYVC
  • Node Capital
  • Nirvana Capital
  • OK Capital
  • Tenzor Capital LLC
  • TLDR CAPITAL
  • Torchlight Ventures
  • Lemniscap
  • MW Partners

Team
CEO -Chandler Song, Forbes 30 under 30 engineering and investing experience (3 years) in the company for 2 years (linkedin)

CTO - Stanley W. prior Amazon software developer, lack of prior leadership exp, 1year in comp (linkedin)

COO - Ryan Fang Forbes 30 under 30 Investment Banking Analyst experience, lack of leadership exp, 2 years in comp (linkedin)

Overall 38 employees

Community and Communication

ANKR is active on Reddit, Telegram, and Discord. The ANKR is also active on Twitter and GitHub. The team and advisors are presented on the team tab on the Ankr main website.

Available Audits

There is only one public audit provided by ANKR that covers ETH2.0 staking contract, it did not cover ANKR token itself.

Market and Trading Data

  • ANKR price at the time of writing is $0.51
  • All-time high: $0.21 (Mar 28, 2021 )
  • All-time low: $0.0007 (Mar 13, 2020 )
  • Price 90 days ago: $0.0007
  • 6,996,232,711tokens in circulation
  • 10,000,000,000 maximum supply.
  • The current market capitalization is $1,079,903,605
  • Token Fully Diluted market Capitalization is around $2,100,000,000
  • The ANK token is available on major exchanges, including Binance, Kraken, Huobi Bithumb, and Coinbase Pro.
  • The highest 24-hour spot volume on CEX is on Biannce around $74 M and on DEX 700K on Uniswap.
2 Likes

I am familiar with Ankr through their Eth2 staking service. They have been solid in this regard by providing this service for the community and it would be great for us to have them on Bancor. The largest pool (ankr-eth) for ankr is on uniswap (nothing on sushiswap or balancer) and it is roughly 1.24M in depth.

This pool has a high amount of volume:

image

In fact, the daily avg volume for the past 30 days has been higher (over 100%!) than the amount of reserves. It would be good for us to whitelist and bring this token onboard.

2 Likes

As I’ve shared my thoughts, bringing over liquidity from UNI is a huge opportunity. I like to compare the Bancor ecosystem as developing into what the DJIA is for equity markets and letting UNI get their volume from the OTC/Pink Sheet stocks (speculative small cap tokens). Any legit project with good volume, I am in favor of.

2 Likes

I like ANKR and I’m cool with whitelisting and co-investing but the 1M BNT seems a bit high to me.


There’s about half a million dollars worth of ANKR currently on Uni, so in order to capture all of that liquidity we would only have to match with around 500,000$ worth of BNT. 1M BNT would mean that, in my opinion, a lot of the pool would be left unfilled. Even if we want to beat their depth a 7$ Million Co-Investment seems like it would be a waste. Instead of 1M BNT I Proposed we change it to 250K BNT, that still gives us more than three times the size of the Uni Pool assuming it fills and we can always scale it up if space runs out.

3 Likes

Fair point,

I would love to leave some ceiling to grow and be the biggest pool on the market. Worst case scenario, there will be too much space, but no BNT co invested. I am just trying to avoid the situation where we will have to vote again to increase the cap soon.

What would you say about 500,000 BNTs?

3 Likes

i am good with it :+1:

1 Like

Agreed. Good passive services and decentralised computing.

@MichalHerzyk Can you add a time and date to be submitted to Snapshot?

https://snapshot.org/#/bancornetwork.eth/proposal/QmeSVvNu3GUz5ohVnj1LqZ6p3KVoSLsEtLpyRcUuGWwmGK

It is already live

1 Like