Decentralized exchange Bancor has build a bridge between the EOS network and the Ethereum blockchain. The new platform is called BancorX and is available now. BancorX allows token conversions between over 110 Ethereum and EOS-based assets. To do this, Bancor uses the BNT token. This token now works on both the EOS and the Ethereum blockchains.
When you have an Ethereum token and you want to switch it for an EOS token, Bancor will take care of it. The Ethereum token gets switched for a Bancor Network Token (BNT). This gets sent to the EOS chain, where BNT is also valid. There the BNT is being exchanged for an EOS token.
Bancor has announced it would transfer 10 million dollars worth of BNT to the EOS network. This way Bancor provides the needed liquidity to make this service work.
Currently Bancor is the 13th most popular dApp on the Ethereum network. Yesterday it had less than 200 users. Other DEX platforms like IDEX, ForkDelta and CryptoBridge have overtaken Bancor with significant trading volume. With Bancor embracing the EOS blockchain, perhaps it will boost confidence in an already good service.