On June 12 2017, Bancor ICO raised $153 million on Ethereum within 3 hours by selling digital tokens. Bancor foundation told that its smart token will replace middleman exchanges which does matching buyer and seller, instead its smart token will do that job and execute contracts as needed.
Bancor also mentioned few other uses cases of Bancor Token, such as Exchanging Ethereum (ERC20 Standard) Tokens which on their reserves. Using their token for Crowd funding or Project funding or using it as Complementary or Loyalty points etc. And they have also build the BOTs on Facebook and other platforms so anyone without technical knowledge can issue the tokens.
We think, Bancor just collected money by issuing Ethereum tokens and they have completely flawed fundamentals. Company raised ton of money on hype and now normal investors who funded this company are left with almost useless Bancor Tokens. People are holding Bancor tokens and hoping that someday value will go up.
Bancor Token have lost more than 50% of its value since ICO. Volume is substantially down from peak of its ICO and hardly anyone using Bancor Token. There are few projects who promised to use Bancor coin but then why using Bancor if they can use Ethereum.