Thanks, you’re right, BNT is not “pegged” to ETH in the classic sense, it simply maintains a constant ratio between its ETH balance (this is its Connector to the network) and the BNT supply, while utilizing the Bancor formula mechanism in which supply is dynamic to demand. Of course the prices influence each other, but not in complete correlation.

Bancor is an on-chain liquidity protocol that enables automated, decentralized exchange on Ethereum and across blockchains.

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