Bancor Network Token (BNT) is the native cryptocurrency of the Bancor protocol, designed to enable the conversion of various tokens without the need for a centralized exchange. This decentralized network provides liquidity through smart contracts, allowing users to trade tokens directly from their wallets.

Users can add their tokens to “liquidity pools,” creating a supply that facilitates trading. In return for providing liquidity, users earn fees from trades that occur in these pools. This system aims to reduce reliance on traditional market mechanisms, thereby enabling a more accessible trading experience.

The BNT token itself acts as a bridge between different cryptocurrencies, allowing for seamless transactions. It also plays a role in governance within the Bancor Network, as holders can participate in decision-making processes regarding the protocol’s future. Overall, Bancor aims to enhance the efficiency and accessibility of token trading by utilizing a decentralized, automated approach that empowers users.