Bancor has developed an approach to value transfer that occurs outside crypto exchanges and removes many of the risks associated with buying and selling digital currencies. The Bancor Protocol is a standard for the creation of Smart Tokens, cryptocurrencies with built-in convertibility directly through their smart contracts.
Bancor utilizes a token "connector" method to enable continuous liquidity for all integrated tokens, without needing to match orders in an exchange. Smart Tokens form token liquidity networks, allowing user-generated cryptocurrencies to thrive.
The Bancor Network processed over $1 billion in token conversions in its first year and has facilitated affordable and accessible liquidity for 100+ token projects, who joined the open-source network with no listing fees.
Bancor is working towards a future where one form of value can be easily connected to any other through an open-source protocol without rent-seeking middlemen, similar to how information networks are connected through protocols such as TCP and HTTP.