So, if I understand it correctly it's basically a wallet which lets you easily convert crypto's to other crypto's?
Not sure if that's going to really 'do' it for them. I never looked into it but I know this had a huuuuge ICO earlier this year. After reading your summary, I wonder why... Doesn't sound too super exciting to me. Seems to me a lot of projects are making wallets which can convert crypto's (Ethos, Loopring, OMG, Metal? probably some more too). But maybe I am misunderstanding it..
Their advantage is being able to have a decentralized exchange of the most illiquid ETH tokens without having to have reserves or match orders. They do it by having a reserve system attached to each token that's made up of ETH and BNT. It's very technical, I'm still wrapping my head around it. But it could work out where Bancor has the long-tail niche and others handle the more liquid ETH tokens.
Sounds very complicated! I don't really 'get' many things that bankers and professional investors/traders go wild for, so I tend to stay away from those coins.
Fair enough. When I learn more I'll share. A small spec for now.