https://medium.com/@meimatsumoto11/so-one-question-how-the-bancor-smart-contract-gonna-balance-the-price-in-the-exchanges-with-their-a9ed38e808b

This is by far the best explanation of what BNT prices will look like. My only issue is whether CRR will be 10 or 20% and how this will change the price simulation.