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RE: Why we need Decentralised Exchanges
I believe Bancor is sort of trying to achieve something like this but it seems very difficult. 0x is also quite interesting but I don't think they are providing any liquidity.
I think the Bancor ICO is today too!
Actually, Bancor ICO was supposed to be today but it is now delayed, we are still awaiting the ICO details to be released. Hopefully, there isn't any surprising last minute changes like BAT.