By
Kofi Ansah
September 20th, 2022
Decentralized news platform Snip announces its partnership with Bancor and subsequent joining of Bancor Decentralized Liquidity Network.
Snip, a project developing a decentralized media outlet that offers its readers personalized news feeds, has announced its partnership with Bancor, in the framework of which it joins the Bancor Decentralized Liquidity Network.
“This partnership is a big step in making SnipCoin easier to use and in encouraging buyers to hold the token and use it inside the Snip ecosystem. At Snip we’re focused on buyers and partners who are true believers in the Snip platform and we’ve found the Bancor team to be an excellent partner and advisor. We’re now looking forward to expanding beyond the core team and engaging the thriving Bancor community,” – the Snip team wrote on their official blog.
Bancor is an Ethereum-based platform for decentralized exchange of ERC20 tokens. Back in June, the project managed to raise 396,720 ETH over just a few hours after its crowdsale has commenced.
Snip, on the other hand, is yet to hold its own crowd sale, however, it managed to raise over 13,000 ETH (nearly $4 million at the time of writing) over its presale campaign so far. Their crowdsale will kick off in two days on September 29th, 2017.
Snip creates a decentralized news outlet where every user could create so-called Snips, which are essentially brief news stories on any topics. Users can use SnipCoins to vote for the texts, and thus exercise their editorial power while rewarding creators of high-quality content.
Commenting on the role of Bancor, Eyal Hertzog, Co-Founder and Head of Product at Bancor Network, stated:
“Bancor is built to enable user-generated online economies to thrive by allowing them to focus on their content and value propositions while the protocol handles liquidity and pricing.”
He continued:
“Snip is a great example of just such an ecosystem, aiming to empower members to create and consume high integrity news in a decentralized way. We are excited to see more consumer applications utilizing these important technologies.”
Indeed, Bancor is not the only partner of this promising startup. Late last month the platform partnered with AdEx network, an international decentralized advertising network.
Apart from that, Snip partnered with Matchpool, a decentralized matchmaking platform that offers users the possibility to create their own community pools based on any common interests, while financially rewarding creators of such pools. The partnership implies that anyone, who refers Snip writers to Matchpool, will get 100,000 SnipCoin as a reward once they have published their first post.
Also, Snip has reached a strategic partnership with CoinTree Capital, cruptocurrencies investment group, which has already backed several prominent blockchain-focused companies like Stox, an open source Bancor-based prediction market platform, which allows users to predict events basing on the crowd’s assessments; and Kik, mainstream chat app, which has just raised almost $100M during its ICO becoming the highest profile ICO company to date.
