As you may know advertisers always collect information about you, your interesting area, search, etc, while browsing. Some advertisers use this info to direct weird ads for pages you open, which may not always suitable for you.
Unlike applications like AdBlocker, Bynamite is not designed to completely block advertisement, but rather it ensures you only see ads that are suitable for you.
How Bynamite works? It collects information that advertisers collect from you and then allows you edit these info, you can add, remove or whatever you want.
In this way you can control advertisers know about you, and make the ads they serve more relevant to you (more details here).