Decentralized exchange Bancor has started an on-chain trading platform, Carbon. LedesmaLyllah reports.
of the deployment on Ethereum and saw votes 100% skewed in favor of launching. Bancor uses an automated market maker smart contract - a mechanism designed to provide liquidity to markets,
Carbon’s aim is to make trading on DEX easier and more advanced through trading functionality of a centralized exchange but with the access and transparency of AMMs, according to the press release.Carbon will create a single concentrated liquidity position that buys and sells only in specific price ranges, according to the press release.
Liquidity pools typically require users to provide liquidity in a continuous range of prices, whereas Carbon is offering users the ability to distinguish between buy range and sell range, according to Nate Hindman, Bancor’s head of growth. Customers will be able to “use a single liquidity position to set a buy range [e.g buy $2,000-$2,100 worth of ETH] and a separate sell range [sell ETH between $2,300-$2,400],” Hindman told CoinDesk.
This will enable users to buy the token low and sell it high, as ETH moves between those ranges. The liquidity automatically rotates between users’ ranges to fill the orders. This is a similar model seen on centralized exchanges, but has lacked on DEXes, said Hindman. “Bringing the trading functionality of CEXs to DEXs is key to driving the next wave of traders on-chain,” he added.
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