/biz/ - Business & Finance

>>28631765
I still can't believe that Bancor turned out to be a legit project. All the "bancor is literally unstoppable" shitposting 3 years ago scared me away from ever looking into it, also vaguely recall bancor getting hacked
oh well, I kept my 6fig link stack so I made it anyway

>>28631765
holy shit nice

>>28631765
extremely poggers and based. bullish

Can you just simply stake vBNT without swapping it for BNT? Like I just want to add it to the liquidity pool.

am I only one currently getting this when trying to access the site?
>Unsupported Network. Switch to mainnet network to use the app!

>>28632877
They don't have an single-sided pool for it right now, so you would have to add in both BNT + vBNT to the pool (61 BNT to 100 vBNT). Not sure if this will change, as vBNT is a product of staked BNT

>>28633159
nevermind forgot to switch network like a retard, sorry

>>28633159
Have you been using an L2 network? Your Metamask might not be connected to the ETH Mainnet. Open up the extension and see what network you're currently connected too

this is sick but why is the price impact insane?

>>28633821
I haven't seen any official announcement yet, all I can see is that it's been added. Thus, liquidity in the BNT/vBNT pool is probably very low...give it a few days !

>>28631765

wow this is huge

Alright so let's say you sell $1000 of vBNT for ETH and a week later you buy back that vBNT to unstake your pee pee poo poo. Is that price stable or would you possible come back to having to pay $1200 for that vBNT?

>>28631990
Kek what got me was all the "LIQUIDITY BLACK HOLE" posting because of the singled sided pools and IL protection. It took a massive dump after that and just needed time to catch on I guess.

>>28634539
Yeah liquidity is currently only 8k. They will probably announce it in few hours

>>28635033
would also like to know
shouldn't the price vBNT/BNT be 1:1?

hhhnnng i have a 2k stack that i just want to stake before the price goes any higher but gas feeeeeees

I have 1918 vBNT in my wallet, from I am assuming my 1918 BNT

Your telling me they just gave me 6 grand for free?

wtf

>>28635958
mmm you need to use the vBNT to get your BNT back i think, so you can stake vBNT on something else if you think it'll make more of a profit but u risk not getting ur original bancies back?

Somebody please tell me if i'm wrong

>>28635958
You need them to unlock your stake fren. They gave you a loan for free, it's up to you if you restake it to farm fees from goys, or if you take it and run (but give up on your current staked BNT unless you buy the same amount of vBNT to unlock them at a later time.)

>>28635958
lmao nah it's only a token you can swap on bancor for a loan or stake for voting. You can almost double your rewards though if you swap vBNT for BNT/any other alt with a pool. Or, ballsy people will swap for ETH and gamble on shitcoins with free capital, you'll just have to payback the vBNT loan to unlock your staked BNT

>>28636600

hold up though are you saying you still get your apy in the meantime

>>28633821
how do you access this

>>28636705
yeah

>>28636705
Yes your locked BNT is still making gains. That’s why this system is so fucking crazy.

>>28636705
You do. But you cannot simply brrrrrr your way to infinite APY. If the ratio is 80:100, that means you'll have to add 20% out of pocket if you want to unlock your stake. Do it often enough and you'll go bust, much like playing dice games with a system.
It's incredibly nice to leverage your stack or farm extra fees though.

Wait a second, so if I convert vBNT to BNT, then stake that, then get more vBNT, then convert to more BNT, then stake that to get more vBNT, etc. it's like infinite money?

I must be missing something

>>28636705
Yeah, when you stake BNT you get vBNT in return (which until now, was used for voting only). Stakers can now swap their vBNT for another coin (BNT, ETH, LINK etc.), which acts as a loan, and do with it what they please, whilst keeping the staked BNT intact and accruing rewards and fees.

The safest way one could do this would be to stake BNT in a pool, get the vBNT, swap for BNT, and re-stake into a stablecoin pool. You're pretty safu if the loaned BNT is in a stablecoin pool as the chances of DAI or Tether mooning or dumping is near impossible (even tether fud won't crack it). So you can always unstake the loaned BNT back to vBNT to unlock your original position.

Personally, I'm waiting till the liquidity picks up and we learn more about Arbitrum release dates (Bancor's L2 solution). I know bancor are working on a new liquidity pool design, and my guessing is that it will magically be able to hook you onto L2 chains (burn liquidity in ETH mainnet pool and add it onto the L2 pool).

>>28637538
Ratio isn't 1:1 looking at the pool right now, unsure if this will change. Also, gas fees are a real bitch to swap and then stake - could probs cost upwards of $500 to do it right now.

>>28637729
Ok but we don't know what the ratio will stabilize to right? I think the team said they expect around 0.8 so you would be getting less BNT every time but that'd still be an opportunity to heavily increase your stake, thereby reducing the circulating BNT... truly a liquidity black hole

>>28636487
so basically selling vBNT is shorting BNT, while swapping vBNT to BNT to pool it is leverage longing with added fee mining on top

>>28634539
Alright it’d nice to get some more of a token, I’m thinking LINK. What are you considering anon?
>>28636754
Through the swap page and search vBNT

>>28635033
>>28635405
Anyone know the answer to this?

so what's the best play for someone with around 2000 vBNT? someone help a brainlet out please.

>>28638007
>selling vBNT is shorting BNT
Yes, with the disclaimer that your BNT is now forever locked which will deepen the pool and counterbalance your "short" in the long term.
>while swapping vBNT to BNT to pool it is leverage longing with added fee mining on top
Absolutely correct
>>28638267
The price of vBNT will somewhat follow the price of BNT. It will be lower 99% of the time, and if it is ever higher, bots will snap it up and arb it for free money until pegged to 1 or below.
If Bancor moons and you swapped for stinkies in a season of sergay betray, you'll have to buy back vBNT at a price at or below the price of BNT, which will be a loss assuming sergay betray.
Similarly, if you did the swap and whatever you swapped to mooned superbigdickhard, you'll now get to have your cake and eat it too.

>>28638419
>so what's the best play for someone with around 2000 vBNT? someone help a brainlet out please.
Stake it in the vBNT/BNT pool and sit on your hands for several months or do nothing. Gas will rape you if you do multiple swaps and restakes.

is vortex gonna pump the token price? basically im asking should i just buy a bit more

>>28638626
Yes and yes.

>>28638716
based and thanks, gonna double my stack

>>28638626
It adds another layer of utility to the token, in this case allows you to take out a collateralized loan. This is AAVE 2.0

>>28638825
holy fuckin shit that sounds like, real fuckin banking, defo buying more

>>28631765
But the fucking gas

>>28638907
thats Bancor babe!

>>28638825
So price goes up?

>>28633236
>>28633821
>>28631765
>>28631765
dont use the vortex you will lost all funds

>>28631765
don't use this yet liquidity is too low u will get rekt sirs

>>28631765
Isn't this just the vBNT/BNT pool that has existed for a while now? Vortex is not live yet so OP's picture is nothingburger but when it actually goes live the jump in TVL will be massive.

>>28639236
Yeah I think you're right, better to wait for the ratio to stabilize

>>28639104
Yes sire, to Vishnu and Ganesh

I don't think it's 'technically' live anyways

>>28633821
Its not actually launched yet...this always has looked like pic related, vbnt has been in your wallet since you first staked.