USD Bancor (USDB) is a stable version of the Bancor Network Token (BNT), backed by BNT locked in Collateralized Debt Positions (CDPs) on Ethereum. Launched on July 10, 2019, by Bancor and PEG Network, USDB seeks to provide a stable token that allows users to access the Bancor Liquidity Network without direct exposure to BNT. The PEG Network's smart contracts enable anyone to create a stable version of their ERC20 token, allowing users to generate their own stable tokens by staking volatile tokens as collateral. USDB is the first use-case of the PEG Protocol, demonstrating the potential of stable tokens to serve the needs of both speculators and real users.

USDB operates on the PEG Protocol, which allows users to create a stable version of any token. The protocol ensures that every issued stable token is backed by a sufficient quantity of its collateral, while allowing any actor to benefit by enforcing safety margins. For instance, someone can create a stable version of Basic Attention Token (BAT) pegged to the US dollar. As BAT is deposited into a PEG-integrated smart contract, BAT:USD is minted, allowing users to borrow against the value of BAT. The PEG Protocol implements mechanisms that iterate on the functionality of DAI, with a key advancement: Any asset can be used as the stable token's collateral.

USDB seeks to provide a stable token that allows users to access the Bancor Liquidity Network without direct exposure to BNT. This is particularly beneficial for users who want access to a network without having to speculate on its underlying token. For instance, USDB could be used to create new Bancor liquidity pools, allowing users to plug into Bancor pools and generate fees from conversions without direct exposure to BNT, potentially enhancing benefits for liquidity providers. As liquidity providers connect to Bancor through USDB-based pools, more BNT would need to be bought and used as collateral, in order to mint the USDB needed for such pools.

USD Bancor (USDB) was launched on July 10, 2019, by Bancor and PEG Network. It was introduced as the first use-case of the PEG Protocol, a system that allows anyone to create a stable version of any token using any asset as its collateral. The PEG Protocol was designed to give users the ability to access a network without having to speculate on a potentially volatile token. The launch of USDB was a significant event in the Bancor and PEG Network's journey, marking a step forward in their mission to demonstrate the potential of stable tokens to serve the needs of both speculators and real users.

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The current market cap of USD Bancor is $0.00. A high market cap implies that the asset is highly valued by the market.

The all-time high of USD Bancor is $1.67. This all-time high is highest price paid for USD Bancor since it was launched.

Over the last 24 hours, the trading volume of USD Bancor is $4.774.

Assets that have a similar market cap to USD Bancor include HyperX, Elon for AfD, Million, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of USD Bancor is 0.