/biz/ - Business & Finance

Pump

Pump!

>>29592892
Why does it cost ETH to vote? I would vote, but only have 1000 vbnt. If it's winning about that much when the vote expires I guess I will vote.

fuck badger what the fuckk

holy shit how can they get away with this

can I get a quick rundown

What's the quorum at? They need 40% to pass

>>29593893
21.75%

>>29593634
Wait for lower gas. It’s smart contract on eth so you make txn to vote
>>29593884
>>Check the discussion. It dilutes BNT for the profit of people in those communities and it's likely not to add much value to Bancor. They are proposing adding rewards for an LP token that no one trades and the argument for is that by adding LM, it'll create an incentive for people to make a liquid market for the token and have volume come from arbitraging. It's basically an experiment and I think it'll be bad for everyone except the ones in those tokens. They're likely just winning the vote because the people in that community are all voting, while the rest don't understand/don't give a shit, or are simply getting cucked by the high gas fees.
Discussion link: https://gov.bancor.network/t/revised-proposal-to-modify-bbadger-bdigg-pool-configurations-lm-rewards/794

>>29593884
It’s group’s campaign from Cryptomessiah

>>29593634
I'm in the same-ish boat. I'll be waiting till last second to vote, because if another 300k whale comes in my vote that costs me $15 to cash will have been wasted.

I’ll keep this post alive

Good to see engagement. Really hope they make the voting system better and not dependent mostly on whales who can take the gas fees.

I own 300k vbnt, these cucks need to fuck off

>>29594304
Hey I have around 200k vbnt.
Could you convince me, why this is bad?
He did have some good proposals with the rook one.

>>29597529
Basically the proposal is to increase the fees and coinvestment from the platform, AND give some of the limited BNT Rewards to that badger and digg pools.

The pro reasoning is that arbitrageurs will trade in the pool and generate a lot of fees.

The against reasoning is that nobody actually trades these tokens (objectively true), the idea the arbitrageurs will show up is totally unproven, and that this is basically just free rewards for badger and digg holders that would hold these tokens anyway.

Great if you hold those tokens, useless for BNT holders and for the platform.

fuck i have to stake vbnt and then vote
keep this thread up, I will load eth later if i must

so is the vote a simple majority 50/50 or is it more than 50%

>>29598520
Hmmm, that's good point.
Did found the arbitrage thing kinda sketchy.

By the way, the LM rewards need a 20% Quorum, not a 40% like people think. Atleast that's what I noticed with the last LM rewards proposal.

I'll wait on giving my vote last minute. Then I'll drop around 210k against it, fren.

>>29596436
Will you be voting?

>>29597529
Adding a ROOK pool is good because it's a legit token that is actually being traded. The problem with the proposal in question is that they're tokens that you get in return for staking them on their platform, not the actual BadgerDAO or DIGG tokens. No one's trading those tokens, so the only volume that could benefit Bancor is just a theoretical one that could come from arbitrageurs.

From my point of view, they're 100% acting in their own best interest, not Bancor's. bBADGER/BNT right now has a whooping $155 in volume in the past 24H. If they want to show that they're acting in Bancor's best interest, they should fill those pools and prove that the theoretical volume exists, and only then propose rewards, imo.

>>29599900
"Rather than limiting the community to admitting two new tokens within a specific time frame, we propose an ad hoc (“as needed”) system to regulate LM rewards, where the community can propose to activate LM rewards on any token that meets whitelisting criteria at any time, and extend reward periods on pools where LM has previously been activated. These governance decisions would be considered routine protocol maintenance, and require 20% quorum and 66.7% supermajority." - from BIP10

Seems the guys aren't still there.

I have around 210k vbnt on the sidelines. I'll be voting against it if it threatens to move beyond that. You guys have my word

>>29601112
Awesome. Thanks, anon.

vote

>>29597529
I have 36k bnt bros, tell me.