Bancor (@Bancor): For most of DeFi’s history, becoming your own market maker meant depositing two tokens into a standard liquidity pool.

For most of DeFi’s history, becoming your own market maker meant depositing two tokens into a standard liquidity pool. The protocol determined how that liquidity traded, not you. Buying and selling followed the same pricing curve, with liquidity distributed across the entire price range. Then came concentrated liquidity. It allowed makers to choose a narrower range, but it didn’t allow for independent buy and sell instructions. Buying and selling still occurred within the same range. If the market moved outside it, you – or an external manager – had to reposition the funds to keep the liquidity active. Then Bancor introduced a different model with @CarbonDeFixyz: Asymmetric Liquidity. Instead of using one shared curve for both directions, Carbon uses two independently configurable curves, one for buying and one for selling. Each curve is funded with one token and executes in one direction. The maker defines separate prices, ranges and budgets for each side, including the spread between them. When the two orders are linked in a Recurring Strategy, tokens acquired through one automatically fund the other. Buying and selling are no longer determined by the same range. The maker defines how each side of the market behaves. Adjust the strategy onchain as the market changes – without rebuilding it or relying on a keeper or hook to maintain its behavior. You no longer have to outsource the creation or ongoing management of your market. Set the prices, provide the liquidity and make the market yourself – all through functionality built natively into the protocol.