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ETHBNT is a Bancor pool token representing shares in the ETH:BNT liquidity pool. ETHBNT collects fees from ETH-based conversions on Bancor.

The ETH:BNT liquidity pool is no different than other liquidity pools on the Bancor Network, such as DAI:BNT or BAT:BNT, which process conversions and collect fees from DAI-based and BAT-based conversions on the network.

The ETH:BNT pool will be configured with a liquidity provider fee of 0.1% -- meaning an ETH BNT conversion will generate a 0.2% fee for liquidity providers, since it requires two hops, ETH ETHBNT BNT. The liquidity provider fee is distributed to ETHBNT token holders in proportion to their holdings.

The initial supply of ETHBNT pool tokens will be equal to 20% of the total BNT supply at the time of BNT holder snapshot. Like every pool token in the Bancor Protocol, ETHBNT pool tokens will have a dynamic supply: When a user adds liquidity to the ETHBNT pool, new ETHBNT pool tokens are minted; when a user withdraws liquidity from the ETHBNT pool, ETHBNT pool tokens are destroyed.

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