/biz/ - Business & Finance

>>49717217
i dont feel so good bancor bros
>https://etherscan.io/token/0x516c164a879892a156920a215855c3416616c46e?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a

>>49717217
why are you doing thins?

>>49717240
the last successful withdrawal was over a day ago and the person only had 2k link staked, but received only 1200 link back and the rest in BNT
>https://etherscan.io/tx/0xb204b7b65ca4daec5e160a5e1735d9977bcbdae4d652e12f036c1a985c0a329f

>>49717281
because i hate seeing jews trick people. simple as

>>49717240
>>49717217
haha what the fuck
>>49717308
rip. music is finally stopping. staking on 21/6.
i really hope anons listened and withdrew from bancor already

Not holding my breath but I do hope this shit dies soon. Tired of seeing the shills all the time. "We solved IL by just printing more money!"

>>49717446
based and thats how i see it happening too

>>49717570
agreed. it seems to me like there would be a cascading type effect if all these people withdrawing LINK receive half in BNT. then they all go to sell it, to trade it back for LINK. BNT price approaching zero seems like it would logically follow, because who the heck is buying BNT?

>>49717217
HAHAHAHAHAHAHAAAHAHAAA OH NO NO NO NO NO NO NO NOOOOO HAHAHAHAHAAHAHAAHAHA

>>49717774
this should be bullish for the price of link short term. those who get cucked by bancor will have to rebuy some portion of their link on the open market.

For FUCKS sake I have 20k link on there

>>49717446
>staking on 21/6
literally pulled out of your ass

>>49718117
same. It really is over this time. Can’t pull it out

>>49718194
>source: i made it up
if it's going to happen or be announced before smartcon, 6/21 is a decent bet

>>49717217
Good
Every fucker putting their LINK on bancor deserve to lose everything, especially since we warned you exactly what was happening and even created an event on July last year to get your LINK out of third party platforms and into cold storage
You all deserve what's going to happen

My withdraw should be available Monday.

Get fucked bancor niggers and bancor simps.

Jason Parser sends his regards.

-Jason Parser

>>49717308
They could just move the BNT into LINK. It sucks with the taxable event. I am never touching Bancor again.

>>49718611
do you still earn interest while withdrawing? might as well put one through with the fud storm going on. better safe than sorry.

>>49718613
Loots here, nwords are not allowed, janny emoji

no refunds!

10 ETH, 1k LINK, and 5k BNT on v3
pls no meme answers wtf do i do biz
the fud threads are cracking me

>>49718890
I panic withdrew not trying to get ANCHORED

>>49718890
Figure out a way to invent time travel and go back in time and stop yourself from being retarded.

Probably won't work, because everybody with two brain cells to rub together has been telling you this would happen for a year. No reason to think your future self would make any difference.

Hmm I wonder who could be behind this

>>49717446
>music is finally stopping
kys third world pole position nigger faggot
>>49718117
>I have 20k link
who in their right fucking mind has 20k stinkstink in the first place? oh, I am so sorry, you must be severely impaired

>>49718390
216 prophecies haven't played out for a while

>>49718613
Dear me. Looks like Bancor's fucked then. Happy to see the linkies first to the lifeboats.

>>49717217
if it's decentralized why you can't withdrawn?

>>49718890
Bancor is fine. Don’t listen to these retarded nigger faggots. They are butthurt LPL shills who are buttblasted that Bancor is printing 7% Link returns on pure fees. They are dick sucking faggots who will burn in hell for eternity.

the next person to receive their link withdrawal is this anon, they requested to withdraw 7 days 4 hours ago
>https://etherscan.io/address/0x3f937adc83c9941285a0d6e32865727cd5e207f6#tokentxns

>>49719672
Doesn’t it literally say it takes 7 days to withdraw?

>>49717217
where / how can i short BNT?

>>49719738
its over 7 days now

Ok I just checked and apparently IL is covered by fees and the cooldown on V3 meaning I will receive ALL of my linkies once the cooldown ends, V2 niggers May end up with BNT instead of pure link this entire thread is more fucked up /biz/ psycho fud

>>49719803
no thank you bancor shill. i already provided evidence on chain, right here >>49717308
this was the last person to wait 7 days and withdraw from v3. nearly half in BNT. get fucked you jew niggers

>>49719803
How much is in v2? If payouts are being done in newly printed but this sounds like a death spiral is inevitable.

>>49717308
This is how the protocol works you fucking idiots. The IL gets covered by BNT-tokens. Nice find you fucking imbecile

>>49719868
Why would you remove your link in the middle of a protocol upgrade when liquidity is still thin? Stupid is as stupid does you stupid basterd bitch BENCHOD

>>49719868
Bullshit V3 has no impermanent loss that’s the point of the withdrawal fee and the cooldown

>>49719992
>Everyone wants to withdraw
>bnt is printed to cover IL
>people immediately sell bnt driving down its cost
>more bnt is printed to compensate
>bnt enters death spiral just like luna

Is this unrealistic?

>>49720038
asset an an AMM DEX goes from $7 to $81,000 and youre telling me there is no IL
you probably think silver is over valued too

>>49720155
Yes because fees cover IL and are typically more than enough to cover IL. BNT rarely printed to cover it.

>>49717446
>staking on 21/6
what?

>>49717774
>it seems to me like there would be a cascading type effect if all these people withdrawing LINK receive half in BNT. then they all go to sell it, to trade it back for LINK. BNT price approaching zero seems like it would logically follow, because who the heck is buying BNT?
Whg all the fags are realizing this now?

>>49720199

>>49717240
Seems to imply there is a massive amount of pending link withdrawals and

>>49718613
Shows an increase in minting.

Surely fees can only go so far and the protocol can't handle a mass of people pulling their money.

>>49717217

Bancor is the OG DeFi token which has been around here since 2017, already faced a crypto bear market unlike all these other ponzi DeFi schemes which popped up last year to get normie attention with ridiculous, unsustainable ROI

where is the twitter space thing they were talking about on the telegram call?

How is Bancor not a top 20 project? Makes zero sense

>>49720669
Mark said he wants it to be a top 10 coin.

how do these niggers keep launching shit at the worst possible moments

>>49718117
Now you have 10k link and xxxxx bancor

>>49720241
Would be funny if it happened. We'd be trawling the archives trying to find this thread. Sigh.. alas it's unlikely. Having said that, Sergey did drop the staking thing out of the blue so who knows?

>>49718194
>>49720241
>>49721259
Fucking newfags dont even know about 216.

>>49717774
short BNT too

>>49720155
>all the retards withdraw after an institution front ran you on the dump
>BNT become extremely cheap
>$1 billion treasury buys back BNT after you're shaken out

sounds like a good move

>>49718117
now you have 10k link and BNT that’s dropping in price every second because everyone’s panic selling trying to convert it all back to link before the next guy

>>49722042
BERNIE CAN STILL WIN
HERE'S HOW:

>>49720669
wef

do i short?

I've been warning people about the martingale fallacy that bancor possesses as a risk for a long time now.

>>49719803
https://twitter.com/i/spaces/1vAxRkBBzaDKl?s=20

>>49722024

Where?

>>49722468
hero

>>49721920
>newfags
I bought 5000 Links at the ICO in 2017

>>49722635
https://dune.com/ChainsightAnalytics/BNT-Minted-for-IL-Protection

they just admitted to losing money. fees arent covering IL. MINTING INCOMING

>>49720155
checked and its on the menu
>>49719672
>>49719672
anon has been waiting 7 days 6 hours for withdrawal.

around 76k LINK has been requested to be withdrawn since the thread was started

forgot to check this: how much link does bancor even have? top kek - over half their stack of LINK is pending withdrawal.

>>49722942
>0.5% of the supply

who knew linkies were such weak hands, more fees for the other pools

>>49722064
>now you have 10k link and BNT that’s dropping in price every second because everyone’s panic selling trying to convert it all back to link before the next guy
what's stopping him to sell now and buying back link very quickly? Does he end up with 10k link?

>>49722468
Where are all you guys spreading fud when Mark hosts open AMMs?

>>49720360
that image shows huge whales cashing and dumbing bnt. IE: celcius or 3ac or some shit. V2.1 has been operating for a year and should be able to cover IL for these withdraws. i think the only way this death spirals is if everyone loses faith in the protocol and tries to withdraw such that both trade volume drops to nothing and IL must be covered

LPL bros - we have two people waiting 7 days to withdraw their LPL.
>https://etherscan.io/token/0x5d74b268d60d70cb35487f8c7a2def58c13b5a36?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a

>>49723123
Bancor is probably one of the most responsible AMMs in the industry

>>49723127
>that image shows huge whales cashing and dumbing bnt.
yep, I think they're more concerned about the health of the BNT token not if their LPs will survive

>>49723106
>what's stopping him to sell now and buying back link very quickly? Does he end up with 10k link?
BNT rewards are locked for 24 hours, you have to wait until after 24 hours to move it to your own wallet

>>49717308
you are stupid af because that is how the protocol is designed lmao try reading some basic documentation before clicking send next time

>>49723127
>i think the only way this death spirals is if everyone loses faith in the protocol and tries to withdraw such that both trade volume drops to nothing and IL must be covered
its more simple that that, more people withdraw = pool gets smaller = order size from dex aggregators automatically goes down = less volume = less fees for poolers = more IL

>>49723123
*AMA ask me anything

>>49723160
At what point does the oracle-call for the price of BNT go in? Could you conceivably get BNT to cover IL and then the BNT becomes worthless within the 24h?

mark richardson was just speculating on the price of the BNT token on the twitter spaces. he thinks it has bottomed out. that makes no logical sense given the thread and how many people are about to be printed bnt and immediately dump it to rebuy LINK

>>49723200
ok bancor shill

https://twitter.com/Banclord/status/1537493917293334533?s=20&t=ZS8xJGkM4uzglzDrHMs91A

>>49723302

>>49723237
>At what point does the oracle-call for the price of BNT go in?
when you confirm your withdraw
>Could you conceivably get BNT to cover IL and then the BNT becomes worthless within the 24h?

yes

do you guys think Jens farts smell good

>>49723208
everybody pulling out is also generating substantial fees for the protcol to compensate. lets be real some of these pools are so large they could be cut in half and still have plenty of depth

If Bancor survives this, it will be the God defi.
If.

>>49723555
they got V3 out just in time, looks like they will survive, especially if Celsius and them already dumped

Should I buy BNT? It's tempting at this price.

>>49723302
So if you're on v3 you should be fine?

>>49723600
Yeah I am tentatively confident. Brutal celsius dumping and a bank run will be a serious hit to BNT holders, but literally all it has to do is survive and if it can come out battle tested against this insanity, then it can survive anything.

>>49723647
the V3 position does not require a 24 hour lockup of BNT rewards (just a 7 day cooldown) and you can sell back to your primary asset immediately whereas with V2.1 you get your IL as BNT and have to wait 24 hours before you can sell back into the primary asset

>>49723678
he makes a good point that sometimes just waiting is the smartest move, might be the case for v2.1 holders

market panic will settle down soon and the withdrawals will be canceled

Syscon embodies the gold standards you cherish and build upon, and solves limitations.
Bitcoin PoW security + Ethereum flexibility + Economies of Scale = Syscon

Celsius dumps 7 million bnt in one go and all of a sudden bancor is a shit product? lmao

how the fuck can you anons even sleep putting all your linkies in the hand of someone else? truth > trust

>>49718890
You deserve this. There is no such thing as il protection. Passive income that isn't a ponzi only comes from fees and loan interest.

>>49723477
I want to ask her in the tg

>>49723794
IL protection comes from fees though...

>>49723780
if this shit is the future of finance why would you not use it? if its worse than tradfi it should die

>>49723794
>Passive income that isn't a ponzi only comes from fees
exactly

>>49723780
If you stake your link in a link node you also hand over your link to someone else retard

>>49723794
That’s why you stake on Bancor dumb nigger shit. I bet your own mother hates you.

I never upgraded to v3 as I was waiting for confirmation there would be no SC risk.
Thank god I was still in 2.1, as it’s instant withdrawal. Just withdrew all my links and they’re getting locked up in cold storage.

the whole bancor system is convoluted and unnecessarily risky just to try to create apr for otherwise useless ponzis. It would be better to have a simple decentralised peer to peer swap platform.

>>49723794
It comes from fees though in bancor v3 lmao

>>49723826
except when it comes from dilution....

>>49723905
which is why v2.1 positions are more at risk, due to the 24 hour delay, especially ones that don't have full IL protection

>>49723713
The guy explains that v3 doesn't expose you to BNT, so you shouldn't need to sell to get back your stake whole, only v2 covers the IL as BNT. I don't know if that's true though.

All of you claiming 2.1 has a lock up, don’t know if that’s true. I withdrew my link instantly and wasn’t given any BNT.

>>49723942
>>49723921
>which is why v2.1 positions are more at risk, due to the 24 hour delay

>>49723989
no ones claiming that. just v3

>>49723989
>I withdrew my link instantly and wasn’t given any BNT.
if you're not LARPing then there is no reason to panic, especially since Bancor confirmed Celsius already dumped their BNT

>>49724026
There's no doubt this is a huge stress test for BNT, but also factor in that there is also a massive amount of bad faith anti-Bancor fud in this thread.
But the thing with these protocols is they have to be able to survive fud attacks during max fear, it's darwinian out there and protocols have to be strong.

>>49724097
Bancor will easily weather this. Not even worried desu.

>>49724026
Not larping. I hope bancor weathers this and comes out strong, I just don’t want to worry about losing my link right now, even if it’s unnecessary fear.

>>49724139
i'm a little worried but its only part of my stack. also bancor has a huge treasury so if shit gets real real bad theres always that

>>49724139
Yeah my take is that BNT price has taken a huge hit from Celsius dumping and will probably continue to get hit from fleeing LPs in the next week or two, but there's no indication of an inflationary spiral and Bancor has functioned at far lower TVL than now, meaning that it will reach an equilibrium some time soon, at which point APRs will be juicy as fuck, max fear will have passed, and it will be back to business as usual.
I wouldn't be buying BNT right now but I won't be bailing either. As I said above I think if Bancor shows it can absorb this sort of insane edge case mass panic shit then it will have proven it can survive absolutely anything.

>>49724166
>I hope bancor weathers this and comes out strong
I have a feeling they will

>>49724232
>I wouldn't be buying BNT right now
i was thinking of DCA it. but crypto is still a large part of my portfolio because i'm a retard that didn't sell link

>>49724232
I am literally buying BNT right now.

kek bunch of bancor shills. 2.5m LINK pending withdrawal.
>>49719672
this anon has been waiting 7 days 7 hours, still no LINK
>>49717308
the last person to withdraw LINK from v3 got some fresh BNT

>>49724376
>this anon has been waiting 7 days 7 hours, still no LINK
You have to manually withdraw once it's unlocked. Meaning it unlocked at 7 days and they haven't withdrawn yet. This is the kind of bad faith fud I'm talking about.

>>49724405
LPL shills deserve death in the most painful way

>>49724405
bad faith? i havent used your ponzi in 6 months i have no clue how to withdraw. i would never put my assets on something that made me wait 1 week to get it back, absolutely negligent

>>49724437
bancor shills will get plenty of rope. soon even

>>49724474
So you used Bancor 6 months ago and now you're 20pbtid fudding it. Whatever works for you, bro.

>>49724474
Arbitrum has a 7 day waiting period as well

>>49724502
i tried to warn anons not to trust bancor after I got burnt on the v2 fake launch

with jews you lose

So there's less LINK in the pool, my APY goes up, and things will eventually stabilise. Sounds good to me.

>>49724290
Now is the time to buy whatever is most feasible to thrive even in this bear. I have been trying to get more of BSW, CKB and EQ the lattermost mostly from airdrop programs on their platform.

>>49725027
If bancor survives, it will undisputably better than uniswap or sushi or other defi AMMs

>>49723678
funny

i remember seeing the exact same thing about UST

>>49725282
you've officially arrived at the bargaining stage.

>>49719803
i migrated from v2 to v3, but when i decided to withdraw my LINK i only got 80%, the rest in BNT (3 weeks ago)
just pointing it out since some of you appear to operate under the delusion that v3 has 100% pure withdrawals with no BNT

>>49722942
>how much link does bancor even have?
just under 8 million LINK apparently, though im not sure if that includes pending withdrawals (presumably not, at least i hope so lmao)

>>49725605
Watching from the sidelines but actually listened in the twitter space.

>>49725833
missed the space, was it good?

>>49725857
Yeah there were a few crumbs about bancor and Linkpool. Keeping a close eye on the situation and might actually deploy some link as an LP since the yields are actually high. Going to wait first to see how things shake out but their approach is to be open and transparent with their community so it’s looking good. They’d be much more tight lipped if things were actually FUBAR.

>>49725560
Yeah and they're such similar protocols with similar economic designs, too.

>>49725560
Not even the same category, one is a stablecoin peg, the other is an AMM
Completely different business model:
https://twitter.com/bancor/status/1536458348303884288?s=21&t=vplWCDjhtWYCnVsvm7zvKw

>>49719992
Would it be possible to add a function to directly sell the difference when withdrawing to give back what was put in?
This would remove a lot of taxation pain if you got back what you put in even if the contract had to buy it back.

>>49726106
https://twitter.com/defisafety/status/1534635290979098627?s=21&t=vplWCDjhtWYCnVsvm7zvKw

>>49726181
https://www.defisafety.com/app/pqrs/469

>>49726225
Pretty much an entire independent audit done on bancor. Interesting

>>49725705
But the $ value is around the same yeah?

>>49726297
yes
but i had to swap it so it was still annoying

>>49726342
I don't really mind, I still have my long term linkies in storage and a stack on bancor that I'll sell in the future anyways. I guess the problem is if it collapses completely.

>>49726293
They audit the smart contracts not the existential risk to BNT LPs to cover the insane IL accrued right now. BNT LPs are in deep shit desu. Tons of sell pressure incoming as token LPs withdraw and BNT is minted/dumped to cover the IL.

>>49726639
They absolutely do an economic audit

>>49726639
When token LPs pull out more BNT is burned by the protocol than what is minted to cover IL holy fuck

he just walked by my apartment. new flannel. sergey is telling you to pull your link off bancor

>>49726864
That's irrelevant. What matters is printing BNT to cover token IL since that gets dumped onto the market and creates more IL for BNT against the paired assets

creating fud threads like this is pretty low/disingenuous, good luck to yourself in life OP hopefully you turn things around and become a better person

meanwhile bancor will survive this bear market in a healthy position, one of the best defi protocols in the space, bnt will be very valuable in the future.

>>49727888
hundreds of people who are trying to withdraw 2.5m LINK will probably receive 1.2m LINK + fresh BNT. they will then sell that bnt and re-buy link. fuck yourself and imagine thinking discussing actual real events happening right now that effects bancor is "fud". fuck you bancor shill.

>>49727972
And is this fresh BNT in the room with us right now?

>>49727972
yeah good for them? if they want to panic sell then that's on them, I'll be buying their cheap bnt

>fuck you bancor shill
you're a fuckwit

>>49727972
https://twitter.com/whalestats/status/1537580324305383424?s=21&t=vplWCDjhtWYCnVsvm7zvKw

>>49727502
They don’t mint to cover IL you spastic, its covered by fees earned

>>49728149
panic sell? hey retard, we want LINK not BNT

>>49728485
Por que no los dos?

>>49728485

hey retard, how about you read how the protocol works before you put your Link on a defi protocol, bancor is working as intended

>>49717217
Holy fuck I lost 25% of my LPL stack there's no liquidity. And I have to wait 24 fucking hours to sell BNT?

>>49729051
sorry fren

Holy shit. I only NEARLY parked my money linkies in there and I'm retarded.
captcha:TAYS4

what I gather from these threads the past 2 days is nothing is wrong with bancor except that there is now an organized kike FUD campaign

>>49729051
Now do you understand? The bancor shills are the new stakenet.
>Bancor covers IPL
>Actually they mint bnt to pay the loss
>Read the t&c

there is 30k eth in withdrawal line + 15k eth reward waiting to be initiated. =45k eth.
>v3 vault holds 29k eth
am i reading this right? isnt that beyond fucked?

https://etherscan.io/token/0x256ed1d83e3e4efdda977389a5389c3433137dda?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a

https://etherscan.io/address/0x649765821d9f64198c905ec0b2b037a4a52bc373#tokentxns

AHHHHHHHHHHHHHHHHHHHH

YOU NIGGERS TOLD ME MY LPL WAS PROTECTED FROM IMPERMANENT LOSS WHAT IS THIS

>>49729023
no it's not
bancor was NEVER meant to do this
it started recently (due to BNT getting closer and closer to 0) with small portions like 5 or 10 percent and it is getting exponentially worse, to the point where you barely even get 50% of your stack
this causes a negative feedback loop, where people immediately sell their BNT because they want their actual stacks back and people fight to leave the pools to secure their stacks. outsiders who simply own BNT are also incentivized to sell to avoid the dumps
but the more worthless BNT gets, the worse this situation becomes

eventually it will go to 0 and the poor souls who were the last to get out will be rewarded with 0 LINK and quadrillions of minted BNT, as valuable as zimbabwean dollars

>>49718117
HAHAHAHAHAHAHAAHAHAHAHAHAHA
just do Binance earn RETARD. those niggerchinks will still be around in 10 years

>>49731060
another scam I avoided that was relentlessly shilled by biz. how did they manage to fuck this up so bad that they cannot give people back what they put in

>>49718890
there is NOTHING you can do besides accepting your fate and your own unfathomable stupidity. there simply is no hope for bad genes. you can't be fixed. its a zero sum game in the end and guess what YOU are the ZERO. that's right bancorNIGGER

>>49731053
lol all he got was 70% zimbabwean BNT

Bancconect

automatically receiving BNT instead of your input asset is fucking based and redpilled now I dont have to trade my link for bnt because Bancor V3 does it for me! The future is here now!

>>49730520
ALL the rewards AND your initial stake will be in BNT. GET FUCKED. everyone is TURBODUMPING BNT. HAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>49731217
because they give intrest they can't ever repay and they use your depositis to place bets on the market to compensate

>>49729916
your copium reminds me of these Celsius cringefags still holding on to tweets from the people that scammed them. HAHAHAHAHAHAHAHAHAHAHAHAHA COPE U F LOSER

>>49731060
sorry you don't know what you're talking about, go to bancor's twitter and listen to the latest call there if you actually want to learn about the protocol

>>49717349
based
FUCK LOW IQ , INBRED PEDOKIKES

>>49732192
YES QUICKLY BANCOR NIGS GO TO TWATTER DONT BELIVE THE FUD. BNT IS DOING FINE. YOUR INITIAL ASSETS AND REWARDS ALL REPAID IN BNT IS NORMAL BUSINESS PRACTICE HEHEH PLS NO REDEEM SERS BYE

>>49732362
these are the people fudding bnt

>>49732760