Bancor (BNT) is a blockchain protocol that seeks to provide liquidity options for lesser known tokens and assets, while providing a decentralized exchange where they can be traded. Bancor operates on the Ethereum network, and uses ‘Smart Token’ technology to hold multiple currencies in a single token. All ERC20 tokens are compatible, and every one of them can be connected via Bancor’s smart token, where they can then be traded freely on the integrated exchange.
Bancor was established 2017 by the Bprotocol Foundation which operates out of Switzerland, and is led by Bernard Lietaer. The team behind Bancor have a history of successful projects, and have worked on MetaCafe, Mytopia and Particle Code.
Bancor’s smart tokens are connected all the tokens held in its reserve, while also being connected to the tokens connected to those tokens. This produces a network of connected tokens, and thus a liquidity pool, while also allowing for rapid and automated conversions. BNT tokens are Bancor’s native currency, and can transform into any other token on the network.