I was initially very intrigued from reading the Bancor Protocol whitepaper and I clearly share the vision of making tokens interchangeable easily, which will definitely be a prerequisite for mass adoption of blockchain offerings. However, my concerns rose over time, because the Bancor bounty program is awfully successful and Medium is spammed with translations and foreign language articles, some of which are in such a terrible language that Google Translate results appear as literarily subtle poetry. More importantly, I believe that Bancor may only have some sort of first mover advantage, but the idea can easily be copied and other projects, such as ox follow similar objectives. Finally, I doubt that the Bancor Network Token (BNT) is necessary at all for a decentralized token exchange without an order book that matched opposite wants: this should also be possible with smart contracts directly on the Ethereum blockchain. I acknowledge that such projects need funding, but is this reason enough for another token? It looks a bit like fighting fire with fire.