What is Carbon by Bancor Network? Carbon is an on-chain trading protocol allowing users to perform automated trading strategies using custom limit orders and range orders with no dependence on oracles or external tooling. 

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 execute novel trading strategies on-chain.

What makes carbon unique? Unidirectional Flow In Carbon, each bonding curve trades in a single direction. As a consequence, a user can decide the exact prices where their liquidity position trades and distinguish between their buy and sell ranges.

Irreversible orders The unidirectional nature of Carbon liquidity enables native limit and range orders that execute irreversibly, eliminating the risk of order reversal. As a Carbon order is filled, acquired tokens are automatically removed from active trading or, in the case of a recurring strategy, rotated into the other order.

Makers & Taker Users who create strategies in Carbon ("makers”) are similar to liquidity providers in traditional automated market makers (AMMs) in that their activities support the liquidity of the system; 

Fees & Payments All fees collected by Carbon are protocol-owned, and their allocation is decided solely through DAO governance.