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Mark Cuban holds BNT — the token for decentralized finance (DeFi) protocol Bancor, citing the simplicity, impermanent-loss protection, and user-friendly nature of the DeFi platform as his major reasons.<\/strong><\/p>\n Billionaire Mark Cuban, a <\/span>former<\/span> bitcoin (BTC) skeptic that has now embraced decentralized finance (DeFi), has been welcomed by the Bancor Network team for choosing the platform as his preferred decentralized exchange (DEX).<\/span><\/p>\n Bancor <\/span>tweeted<\/span>:<\/span><\/p>\n For those who are unaware, Mark Cuban is the owner of <\/span>Dallas Mavericks<\/span>, an American professional basketball team and he\u2019s also an executive producer of the Shark Tank reality television show.<\/span><\/p>\n Bitcoin has had its fair share of critics in its entire history and Cuban used to be one of them. In December 2019, Cuban <\/span>reportedly<\/span> said the world\u2019s flagship cryptocurrency has no chance of becoming a reliable currency, as it is \u201ctoo difficult to use, too easy to hack, way too easy to lose, too hard to understand, and too hard to assess a value.\u201d<\/span><\/p>\n While Bancor remains a pioneer in the decentralized finance (DeFi) space, the coming of automated market makers like Uniswap (UNI), amongst others, somehow took the shine away from the former. However, the team has been integrating innovative features into the Bancor Network aimed at making it more attractive to users.<\/span><\/p>\n In 2020, Bancor rolled out <\/span>Bancor v2.1<\/span>, an upgrade to the first iteration of its AMM and the protocol\u2019s <\/span>profitability<\/span> has been on the increase since then. The major advantage Bancor v2.1 has over other DEXs is the impermanent loss protection, which makes it impossible for liquidity providers to incur losses due to the price volatility of their staked tokens. To escape impermanent loss, Bancor LPs must provide liquidity for at least 100 days.<\/span><\/p>\n<\/span>Mark Cuban Chooses Bancor (BNT)<\/strong><\/span><\/h2>\n
<\/span>The Bancor (BNT) Advantage\u00a0<\/strong><\/span><\/h2>\n