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Bancor is a pioneering decentralised trading protocol that emerged as one of the first automated market makers (AMMs) in the cryptocurrency space. Launched in 2017 by the Bprotocol Foundation, the Bancor Network enables seamless token conversions without needing an order book, relying instead on smart contracts to facilitate trades. By utilizing its native token, BNT, Bancor maintains liquidity across the ecosystem and improves token accessibility. Its innovation lies in the use of liquidity pools that allow users to contribute and earn a share of the transaction fees. Bancor’s protocol is designed to eliminate the complexities of traditional exchanges, allowing anyone to instantly swap tokens, enhance price discovery, and reduce volatility. Its non-custodial nature ensures users retain control over their funds, making it a secure and accessible option for trading and defi participants.
