The [Bancor]( https://www.bancor.network/) network is a decentralized liquidity network. It allows you to hold any Ethereum token and covert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.

<center> https://s13.postimg.org/wctmg5gp3/BNT.png </center>

The Bancor token provides an upgraded functionality standard for Ethereum tokens. These smart tokens hold ‘Connector’ tokens which plug them into a decentralized liquidity network. 

Providing liquidity to the market and enabling access to the ‘long tail’ of the market, which combined can be magnitudes bigger than the few largest. It solves what is called the “Double Cooincidence of Wants Problem.” 

In other words, it takes an illiquid market where it’s hard to match buyers and sellers and provides liquidity to that market through its Smart tokens.

For all the technical of how the token works you can check out the [White Paper](https://www.bancor.network/static/bancor_protocol_whitepaper_en.pdf).

Per [Bancor](https://www.bancor.network/about) the team is built of serial consumer Internet technology entrepreneurs with decades of experience working together, raising venture capital, growing companies to Internet scale, bringing products to market, reaching critical mass, mergers and acquisitions, and even a few wind downs.

Notable advisors include Tim Draper and Brock Pierce. And they have a partner in Localcoin Ltd. which develops software for the Bancor protocol.

Bancor raised just over 396,000 ETH in its token sale in June. There’s a total supply of 79.3 million BNT tokens with 40.7 million in circulation right now.

So far 12 coins are live on the [Bancor network](://blog.bancor.network/bancor-progress-update-466766be1dc6) and there should be more as there’s 47 projects working with Bancor.

You can check out the web app [here]]( https://app.bancor.network/discover). 

What’s interesting is that each token that joins the network needs to use the BNT token as part of its reserve. So as more coins join the network the value of BNT should rise.

What do you think of Bancor (BNT)?

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