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29523334 No.29523334 [Reply] [Original]

Bancor General FAQ

>Why Bancor?
The Bancor team literally invented the AMM model that was forked by Uniswap and eventually Sushiswap. The only exchange with single sided liquidity pools, and the only exchange to solve impermanent loss. v2.1 brings Vortex, allowing you to leverage against your staked BNT for degen plays. Bancor will deploy Arbitrum soon (testnet since early Jan, 50x gas fees improvement) and on Polkadot (announced, crosschain swaps). This should propel it to be the #1 DEX and a bluechip Defi player

>What means liquidity blackhole?
TVL is growing faster than any other project the past few weeks and they’ve already captured over 40% of TOTAL Link trades. Between the rewards program lasting the rest of the year, vortex leverage, and best of all the IL protection, this is the best place to put your liquidity, period. It will inevitably gobble up the liquidity for the pools it offers.

>Price predictions?
Bancor is currently around ~600m market cap. Uniswap, an objectively worse fork of Bancor, is around ~7b mcap. 10x is just catching up to its mutant child. As Defi grows, Bancor will continue to ascend.

>Is this the next LINK?
No, Link is the next Link. This is good though.

>What is make it/suicide stack?
IMO, you’ll probably want around 500 BNT to be worth staking. Make it stack it probably around 5000 BNT. More is better but staking now will greatly increase your stack over the course of the rewards program.

>Should I stake?
Yes. Rewards are insane for the time being, with APRs upwards of 80%. Stake your BNT in the LINK, ETH, or wBTC pools as those rewards are likely to be renewed and they have the highest volume. Stake your non-BNT tokens in their available pools. Yes, gas to stake will be expensive ($200-$300).

>> No.29523368

>>29523334
>If I stake LINK, ETH, etc, do I get more of that token?
Partially. Rewards are paid in BNT, swap fees are paid in the native token.

>I heard there are infinite BNT tokens.
Not a question, but ok. The token supply is elastic. If BNT tokens are needed to balance a pool, they are minted. If someone joins the pool with BNT, they replace the system’s BNT which are immediately burned. The platform’s tokens are not actually in the supply and there are pool limits which expand when there are enough user owned BNT in the pool.

>How do they solve IL?
Transaction fees from the system’s BNT are reserved to pay for impermanent loss. v2.1 beta showed that these fees pay for possible IL many times over. You have to stake for the full 100 days though. If you remove early, you won’t be fully protected.

>It’s already pumped. Is it too late?
Anon, I just told you it’s a 10x PLUS you stake for more BNT. If you double your stack through staking that’s a 20x. If you buy and stake you’re actually soaking up my rewards so this is virtuous biz trying to help you.

>What do I do with vBNT?
If you need to ask, you need to research. Do not leverage if you don’t know what you’re doing. You might end up locking part of your stack without realizing it. If anything, buy vBNT since it is due for a correction.

>How does I learn me more?
Bancor FAQ: https://docs.bancor.network/faqs
Bancor medium: https://bancor.medium.com/
Bancor platform tutorial: https://www.youtube.com/watch?v=sdd5TToLv9o

>> No.29523685
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29523685

>>29523334

>> No.29523951

>>29523334
toasting in a comfy bread, how are we doing fellow BNTchads?

>> No.29524225
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29524225

>>29523951
Managed to get my stack in the eth pool a week ago for $120 late at night, bretty comfy.

>> No.29524289
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29524289

>>29523685
would be better if you replaced nazis with trannies

>> No.29524387

>>29524289
But we're the jews now.

>> No.29524542
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29524542

>>29524289
Believe you used the wrong meme, sir.

>> No.29524701

>>29524542
I know, but that one looks horrible

>> No.29524828
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29524828

>he sold

>> No.29525953
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29525953

Seriously though, this thing is going to make me so much money, I'm already 3x up from my initial investment.

>> No.29526140

>>29525953
did you stake?

>> No.29526400

big money jew honey

>> No.29526650
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29526650

>10 BNT
fear me

>> No.29527141
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29527141

>> No.29527459

>>29523368
>I heard there are infinite BNT tokens.

it should be added to this that when TKN side stakers remove theirs stake, BNT is burned such that the total number in circulation falls and drives the price of BNT up.

>> No.29528040

Tfw only 100 BNT but still feeling comfy