Decentralised liquidity network Bancor has announced a new non-custodial wallet for users to instantly convert between Ethereum and EOS-based tokens without the need for order books or counterparties.
Bancor’s new wallet will focus on user experience for trading cross-chain tokens. In the press release, the team said that the “user experience of the Bancor Wallet resembles that of Coinbase and other popular custodial wallets”.
Bancor's new Unified Wallet is officially LIVE. For the first time ever, users can perform one-click conversions between @Ethereum & $EOS tokens without giving up possession of their #crypto. https://t.co/7nBGDN9IRE pic.twitter.com/L7YdYMGQaC
— Bancor (@Bancor) March 11, 2019
Bancor users originally had to go through a multi-step process when converting between Ethereum and EOS tokens. The new Bancor Wallet turns the process into a “one-click” user action.
What can you do?
Users can now manage all of the 500+ ERC-20 and EOS tokens in a non-custodial wallet and perform conversions between ERC-20 and EOS tokens with a single click across 9,700+ token pairs. The wallet also boasts the highly desirable feature of being able to receive any airdropped ERC-20 or EOS tokens directly.
Both the wallet and platform allow a unified experience on any mobile or desktop device.
Bancor has said there will be “no fees for transfers in and out of the wallet or for its built-in token conversions. These transfers occur instantly and are processed fully on-chain, ensuring faster, cheaper, and more predictable conversions.”
Bancor is aiming to build towards a world where wallets function seamlessly between dApps on different blockchains, “just as browsers allow for seamless surfing between websites”.
The new wallet is Bancor’s next step to becoming “a blockchain-agnostic network, and abstracting away the blockchain experience in favour of frictionless token conversions and management”.
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