Bancor is an exchange network providing users with unprecedented liquidity through its innovative use of proprietary connector modules and algorithmically connected smart contracts. BNT seeks to eliminate the need for expensive exchanges and brokers through asynchronous price discovery. This also allows for buyers and sellers to enter the market whenever they want, as they do not need a counterparty to make a trade. The value of BNT is derived from its utility as the default reserve currency of cryptocurrency stored its in reserve network. Bancor’s formula ensures for balanced relations between all tokens transacted in its network.