Bancor is an ecosystem of decentralized, open-source protocols that promote on-chain trading and liquidity. Its main protocol, [Carbon](https://www.carbondefi.xyz/), is a decentralized trading protocol allowing users to perform automated trading strategies using custom on-chain limit orders and range orders, with the option of combining orders together to create automated buy low, sell high strategies. By design, Carbon orders are irreversible on execution, easily adjustable directly on-chain, and resistant to MEV sandwich attacks. These capabilities give users an unprecedented level of control and automation to perform novel trading strategies on-chain. Fast Lane, a separate open-source arbitrage protocol, allows any user to perform arbitrage between Bancor ecosystem protocols and external on-chain exchanges and redirect arbitrage profits back to the Bancor ecosystem. All Bancor ecosystem protocols are governed by the BancorDAO via staked BNT.