Bancor (V2)

Bancor (V2) is the older, simpler face of an automated crypto exchange, built for swapping tokens through Bancor’s own pool logic rather than through an order book. By our assessment, its main strength is the one that made Bancor notable in DeFi: single-sided liquidity and a more automatic feel than many early AMM setups. The downside is age in practice, because older versions can feel narrower and less current than newer protocols, especially when users want deeper routing or more active liquidity. It is the sort of thing that works best when you already know what asset you are moving and you want the protocol to handle the plumbing. Compared with big centralised exchanges it is far more self-custodied and technical; compared with newer DEX designs it looks more like an earlier stage of the same idea. The V2 label says plainly which generation this is.