Liquidity providers deposit funds into Bancor and receive trading fees from traders (supply-side fees).

Bancor is a non-custodial exchange protocol built on Ethereum. Bancor was founded by Galia Benartzi, Guy Benartzi, Eyal Hertzog, & Yudi Levi and launched in 2016.

BNT tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Bancor's investors include DeFiance Capital, ParaFi Capital, Mechanism Capital, etc.

governance

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etherscan

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Bancor

# Bancor Maximum token supply Methodology

## 1. Overview

The Bancor maximum token supply metric represents the theoretical maximum number of Bancor (BNT) tokens that can ever exist according to the protocol's design specifications. This is a static configuration value that reflects the hard-coded supply cap built into the Bancor protocol, providing a constant reference point for understanding the token's scarcity and monetary policy.

## 2. Data sources

This metric relies on protocol specification data rather than dynamic blockchain events:
- **Protocol documentation**: Official Bancor protocol specifications defining the maximum token supply
- **Token contract specifications**: Smart contract parameters that enforce the maximum supply limit
- **Historical protocol records**: Documentation of when the maximum supply specification became effective

## 3. Step-by-step calculation

### Component A: Maximum supply specification
- **Purpose**: Define the hardcoded maximum supply value and its effective date
- **Logic**: The calculation uses protocol-defined constants rather than dynamic data. The maximum supply is set to exactly 200,000,000 BNT tokens, with an effective date of December 22, 2020. This represents when the current maximum supply specification became active in the Bancor protocol
- **Key fields**: The `token_supply_maximum` field contains the static value of 200,000,000, `timestamp` marks the effective date, and `timestamp_grain` is set to daily for time series consistency

### Final aggregation  
- **Time series completion**: The finalize metric macro applies a fill-forward strategy, meaning the maximum supply value of 200,000,000 is carried forward for every day from December 22, 2020 onward
- **Project identification**: The metric is tagged with data identifier 'bancor' to associate it with the correct protocol
- **Standardization**: The output is formatted to match Token Terminal's standard metric structure with consistent timestamp formatting and project labeling
- **Final calculation**: The result is a time series where every day from December 22, 2020 forward shows a maximum token supply of exactly 200,000,000 BNT tokens

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Maximum number of tokens that can exist under the current token economics.

BancorBNT

Maximum token supply

Maximum token supply

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