Smart Token Advantage #1:
Continuous liquidity
Users can always buy or sell tokens in the network directly through
their smart contracts, even when there are only few or no other buyers or sellers
in the market. Because prices adjust to conversion size, there is always some price
at which a token may be converted. The Bancor Protocol effectively disconnects
liquidity from trade volume.
From
https://about.bancor.network/static/bancor_protocol_whitepaper_en.pdf