Bancor is launching a new on-chain trading protocol called Carbon, which makes automated on-chain trading easier and more advanced.

In a post-FTX world, decentralized exchanges (DEXs) are finally gaining ground versus centralized exchanges (CEXs), and Carbon aims to bring the next wave of traders on-chain.

Carbon flips the concentrated liquidity model popularized by Uniswap V3 on its head. Users have historically been required to provide liquidity in one price range. With Carbon, users can create a single concentrated liquidity position that buys in one price range and sells separately. These capabilities give users unprecedented control to execute novel trading strategies on-chain, including native limit and range orders and recurring “buy low, sell high” strategies.