When you hold the Bancor Governance Token, the native token of the Bancor protocol that enables decentralized governance and liquidity provision. Also known as BNT, it’s not just another crypto asset—it’s the voting power behind one of the first automated liquidity protocols that never needed centralized order books. Unlike most tokens that exist to speculate, BNT was built to keep a DeFi system running without middlemen.
The Bancor protocol lets users trade tokens directly from liquidity pools without needing a counterparty. That’s where BNT comes in: it acts as the connector between assets, smoothing out price shifts and reducing slippage. Holders of BNT don’t just own a token—they get to decide how the protocol evolves. Should fees change? Should new tokens be added? Should liquidity rewards shift? Those decisions are made by people who stake BNT. It’s a DAO governance, a system where token holders collectively manage a decentralized protocol without a CEO or board. Also known as decentralized autonomous organization, it’s the backbone of modern DeFi. This isn’t theoretical. Real votes have happened. Real changes were made. And users who didn’t participate lost influence.
Bancor also ties into another key concept: liquidity protocol, a system that automatically provides trading depth without relying on external market makers. Also known as automated market maker, it’s what makes Bancor different from exchanges like Uniswap or SushiSwap. While others need large pools of paired tokens, Bancor uses BNT as a permanent intermediary. That means even small or obscure tokens can be traded without huge liquidity gaps. This design reduces risk for liquidity providers and gives BNT holders a steady stream of trading fees.
But here’s the catch: BNT’s value isn’t just in its utility—it’s in who uses it. Early adopters, institutional DeFi players, and long-term liquidity providers all rely on it. And while many newer protocols have copied its model, Bancor still holds one of the oldest, most battle-tested systems in crypto. It’s not flashy. It doesn’t hype NFTs or meme coins. It just keeps trading alive, quietly, with real economic incentives.
What you’ll find in the posts below isn’t a list of price predictions or hype cycles. It’s real analysis: how BNT fits into broader DeFi, what happens when governance votes go wrong, how liquidity providers actually earn, and why some users walk away. These aren’t guesses. They’re based on what’s happened on-chain, what users have lost, and what still works in 2025.
vBNT is the governance token earned by staking BNT on the Bancor Network. It gives holders voting power in the Bancor DAO and represents ownership of staked liquidity pools. Learn how it works, its benefits, risks, and who should use it.