Bancor is a blockchain protocol that allows users to convert directly between different tokens instead of exchanging them on cryptocurrency markets.
Bancor was founded in 2017 to become the global standard for so-called Smart Tokens, which form a liquidity network via the blockchain.
The Bancor network ensures that all these token transactions can take place. There is no spread, so users get cheap fees thanks to the automated market maker with a taker. The prices are transparent thanks to the Bancor formula.
On June 12, 2017, Bancor raised $ 153 million in his ICO in just 3 hours. This is the 4th highest amount that an ICO has collected so far. A remarkable investor was Tim Draper, a billionaire - who has long been in favor of more liquidity in venture capital. Sales were so robust that it caused some problems on the Ethereum network. They actually sold US $ 51 million more than intended, disturbed previous buyers who felt that their purchase had been diluted in value. The total BNT tokens circulation is 793 million.
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