/biz/ - Business & Finance

>>49805228
Sergay continuing his 3.5M weekly withdrawals again

>>49805228
link will pump slightly when ppl sell the portion of bnt that the receive as compensation for IL for link

>>49805313
>>49805313
Link will pump above 0.007 ETH and begin rekting fags.

Anyone know the average amount of link traded per day?

>>49805787
What do you mean by this

>>49805228
Hi Jason

Why are they leaving. I'm scared

>>49805228
Short squeeze, read another thread about how a bunch of VCs fucked up borrowing LINK for stETH in an attempt to moneyprint using interest rates. God bless Sergey, I pray that all these scum niggers pulling shady shit get executed.

>>49808175
if you're still on bancor get the fuck out
https://messari.io/asset/bancor/chart/sply-circ

>>49805787
based

>>49805787
it's becoming inevitable

Link to the previous thread with the basic info
>>49770660

Looking at etherscan the withdrawal requests are mounting. Via quick look it seems that most requests can be withdrawn next Fri - Sun with growing amount of withdrawals starting from Tue.

>>49808912
so defi is kill and LINK moons?

>>49805228
Fees will increase for the LP holders that don’t withdraw, simple as

>>49809324
Nice holding ur bag to zero, because muh fees. Sound a lot like the lunatic case

Link is the pheonix rising

>>49809324
The fees are no where near to covering the IL payments atm, meaning that they are using more and more BNT to pay the withdrawals. In a "normal" (read defi degen) environment, the fees would be partly shared with the user and partly burned, and you would get all or mostly all of your asset back + rewards in BNT. At the moment you're getting only a bit more than a HALF of your asset and the rest in BNT, meaning that the users withdrawing will instadump their BNT trying to make their stack whole.
So now you have two factors suppressing the
price. And liquidity mining is over btw, so say goodbye to those big degen rewards. While they might be a small bump in fees when people withdraw, what do you think will happen near instantly when there is much less liquidity in the protocol?

i withdrew and swapped the chuck e. cheese tokens back to link on bancor. i feel like everyone else is going to do this immediately which means the game of hot potato is going to end with someone holding 100% chuck e. cheese tokens when they withdraw. i think im done gambling with my link.

>>49809653
>So now you have two factors suppressing the price
three. since all pools are balanced with 50:50bnt token price going down creates need to print more bnt to balance the pools with.
>brrr brrrr brrr

I like how one guy on their tg, think people will cancelled their withdrawal. Firstly, the risk of impending doom on bancor is too high to worth the reward, secondly by the time u are the last to withdraw u, the slippage will be so high u won’t even able to get back ur fullstack. ILprotection my ass hahah

>>49808175
basically celsius has a big position on bancor and they withdrew when they got fucked and now contagious mass hysteria has caused people to bank run on bancor now. bancor is perfectly safe, but BNT has inflated briefly. its honestly fine.

>>49809771
thats not how bancor works.

>>49809653
liquidity mining has ended, no longer a factor. theyre gonna increase burning they said. the circulating supply is already decreasing

Is there a liquidity crisis for LPL?
Is now the last time to buy LPL at a low price?

okay fine, I finally took my stinkies outta v2. the threads here were enough to get me to do it. Thank fuck i never ported to v3... back to cold storage they go. i'll hold onto the BNT rewards for now, might as well see if it survives this.

>>49807531
He means this.

>>49809825
well yes and no i guess, they wouldn't need to print more for the price to go down. if the other asset reduces in the pool they already have too much bnt in their hands because there no counterpart for all the bnt they now have. in normal situation (read degen defi) they would burn some of the supply to balance the situation, but looking at the circulating supply it has been going sharply up since the 11th. This was initiated by celsius withdrawing their eth, but why is it still going up? They already withdrew and sold their bnt...oh could it be that liquidity mining + the IL protection + spiralling bnt price + degrading userbase puts them in a position where they have to print more and more bnt to stay a float...

>>49809931
>liquidity mining has ended
I just said yes. point being that risk:reward is not worth it anymore

>the circulating supply is already decreasing
sure it is....pic related.

>>49810070
zoom in.. pic related
https://messari.io/asset/bancor/chart/sply-circ

>>49809931
and btw I listened to that call also...the future ideas for burning were such bs. basically he proposed to build a launchpad, let's see how well that will work on a bear market lmao. The second idea of the liquidation engine was more interesting, but do you have any idea how long building a dapp like that would take? and pulling the numbers of ethereum as a reference point? as if bancor would ever reach such numbers.

>>49810205
i think bancor has a bright future. i am taking my money off to reduce my own personal risk, but i honestly don't believe they would ever go under over this celsius drama. I think celsius themself might even survive this. the main culprit here is mass hysteria and the only way to avoid it is to join it.

>>49810205
i read an interested thread about how the celsius thing started as well, just coordinated FUD

https://twitter.com/TheRealPlanC/status/1538225727115509760

I'm not defending Celsius, i never used it, it's just interesting how unnatural the FUD around it is

Just don't withdraw, Bancor has been around since 2017 and is not suddenly going to collapse because a bunch of people want to withdraw LINK in a short timeframe. The people that do this will get more BNT than LINK whereas if you wait a month you'll get the full amount back.

>>49805228
what happened to viewbase? was bis page to track LINK in exchange wallets but it dissapeared from the earth on may 11

>>49810297
So why take you money off, if you think it will survive? Wouldn't it make more sense to buy in at a low price and just leave your token in until things stabilise?

>>49810393
>because a bunch of people want to withdraw LINK in a short timeframe
there is over 30k eth on the withdrawal que aswell?

>>49810444
to avoid any possible black swan event. with staking coming so soon it would really suck to lose my link for whatever reason. personal risk avoidance.

think of the bright side though, link is going to pump next week when all this BNT gets instantly converted to more link.

>>49810463
So they'll get more BNT than ETH, not my problem. The idiots that want to withdraw can do so, are the same ones who buy high sell low. Bancor will still be here during the bear market and I'll be collecting that sweet rewards.

>>49810297
yeah I agree with you, and sorry I hadn't updated the chart, I can see now there's a small recline.
My point is more, how much more down can bancor still go? remember auto that once also had over 1 bil tvl? it's now at 14 mil mcap. I'm looking for opportunities, and this really seems like a one.

Let this sink in:
there are currently more withdrawal request than there are links in their pool.
>approx 3,770,000 in pending requests 12.6 - 19.6
>3,656,133 links in the pool
you can calculate this yourself.

>>49810635
they will have to buy more link

>>49810578
I'm hoping the retards in panic mode have a change of heart

>>49810393
>Bancor has been around since 2017 and is not suddenly going to collapse

>>49809968
stop it with this cope, skizo. It's going to get rejected at btc/link chart

>>49810578
Are you not contributing to the very black swan you are hoping to avoid?

>>49810651
no, they will just pay people with more and more bnt, as they are doing now. in a "normal" (as if defi degen is normal) situation they would pay people most of all their stack in the asset, but this only happens when there is sufficient liquidity (or the number go up).
IL loss reimbursement and liquidity mining in V2 have created a bubble that celsius withdrawal bursted. do you think those ridiculous APRs in V2 came out of thin air? They had 30% APR for stablecoins ffs.

>>49810775
right, and then BNT gets coverted into Link - recovering the full Link stack

>>49810378
Do you know why Celsius just sent 6.7 million LINK to FTX after withdrawing it from their MCD vault?
http://mcdstate.info/vault/24622

https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x76a05277b81b9ca6c06c9ab4136116fc53e9c9e1

>>49810463
holy shit is true.
30,182 in que and 30,321 in the pool.

>>49810635
also I double checked the exact number of withdrawals in the que is 3,698,255 vs 3,656,133 links in the pool

>>49810905
Celcius is doing max damage control to save themselves, and they just might honestly but its gonna be a rough couple months for them.

No idea what they are doing on FTX

>>49810775
Celsius withdrawal?

what happened to the fees earned by the protocol in v2.1? when will they be migrated?

>>49810953
They also sent 1 million LINK to FTX on the 9th of June when the token started its staking announcement news and the price went down to 5.5 from 9.2.
Looks like they are actively shorting LINK and something is going to blow up if LINK goes up too much vs ETH and reaches a 0.0090 LINK/ETH valuation...

Nexo and wallets borrowing 3.5 million LINK from AAVE depositing it then to Okex seem to be doing something similar each time before a LINK dump.

>>49810993
They will probably use them to buy up BNT

>>49811000
Well, when people get their LINK/BNT off bancor next week and convert their BNT to Link - Draining the LINK pool, forcing Bancor to refill the pool and buy more LINK in the millions, we may see a short squeeze

>>49810965
>>49811000
Celsius selling their assets to cover their ass.
That's why they took out a huge stack of ETH from Bancor, and that's why they're sending the link to ftx. They're collaterals are most likely not in link, so they're trading them to stable coins, btc etc, probably otc.

God damn it I want to see these fags getting rekt.

>>49811015
>>49811040
the amount of hopium.
why the fuck would they do that? as if they're going to use their money to bail the users out? it's a company and not a charity, if shit hits the fan they will let it fall no doubt.

>>49810702
HOW IS IT GOING OKEX CHINK ARE YOU SLIGHTLY CONCERNED YET?

>>49811116
why would they refill their link pool? are you serious? think about the strategies in which they could do that. convert DAI, covert and eliminate underused shitcoins pools, convert their own BNT,

>>49810702
you sound scared, bro, you're not scared, are you? hahahaha

>>49811116
>>49811153
its not hopium to assume bancor would try to survive rather than say "out of link sorry we're gonna just implode and die". they already said they wanna be a Link Staking protocol through LPL.

>>49811061
This doesn't make sense because LINK did not have any yield generating mechanism and under performed the market.
What they sent to FTX is the LINK tokens belonging to their users to short LINK.

A reason to do this would be if they borrowed ETH against LINK and staked it for higher returns.
In this case they need the LINK/ETH valuation to remain below the 0.0090 LINK/ETH valuation to not have losses.

Imagine not buying this incredible gift of a BNT dip. I’m slurping this shit so hard. /biz/ sucks at making money always do the opposite of these shitskin scammer cunt.

First graph on the left, the big pole is celsius pulling out 52 mil wETH from bancor and the smart contract printing BNT to cover on the right graph.

Now look at the next big pole, much less pulled out, but much more printing in comparison. All that will be released tomorrow. And look at how the bnt mints getting relatively higher - all that grey is link being pulled out - which they don't have, so they need to print more and more bnt.

have fun slurping the dip.

>>49812427
cool dude what do you gain from doing this, just some good will from the bottom of your heart

>>49811820
imagine putting money into luna days before the crash

>>49810743
it's just game theory. because this is now a possibility and potentially is playing out in real time, it becomes in every ones self interest to withdraw as soon as possible, even if that does indeed cause the thing everyone would like to avoid. hence terms like death spiral.

it means buy the BNT dip

>>49812807
it's unfortunately not that surprising that even comparatively (((sophisticated))) investors like bnt/link holders would literally play out a scenario that could cost them tens of thousands of dollars if not more. All everyone needs to do is nothing. Wait for Celcius to dump, lick wounds, wait for recovery.

>>49812600
Luna crashed because its stable coin lost its peg. BNT doesn’t have this issue.

>>49812890
"all everyone needs to do is nothing" is not a valid argument. complex systems dont work this way. people and incentives dont work this way. people are going to act in their self interest, and there is nothing wrong with this. if doing so causes the protocol to fail, it is the fault of the protocol. of course it may not fail, and in the end people who did nothing will benefit and be able to say i told you so, but i still do not blame people for acting in their immediate self interest and attempting to get out before the worst case scenario potentially happens.

>>49812992
and what do you think is the worst case scenario?

redditor whale deposited his ETH to get some passive income
turns out he just swapped 80% of his stack for BNT
but it's all okay he can just buy it back :^)
will only have to market sell almost .5 million usd of BNT, no biggie

>>49813302
>19 days ago

>>49812569
I'm a bit of a nerd, and I've been trading short for a while for a bunch of different assets...just trying to find that white whale you know? It's not even about the money, it's about learning how to find that alpha information. I'm not rooting on anything going up or down, I would just want to get really good in DD...good enough to make eventually.

>>49813485
^making it meaning ofc the money, but more importantly being able do make constantly good, calculated decisions that grow my stack regardless of the market situation. making it would just be a diploma, sorts of.

>>49805228
it's not just LINK btw

check this guy, 90 minutes ago
wanted to withdraw 55 ETH. got 33 (60%), rest in BNT

>>49809028

LINK really was made by the bankers for the bankers wasn't it? Seriously what in DEFI is going recover any time soon? Meanwhile LINK looks insanely primed on the ETH/BTC pairings especially ETH.

LINK has been in a bear market for over a year and was just dragged up by BTC basically. Now it looks like BTC and ETH are finally entering their capitulation phase and LINK will trend up during the bear market again.

>>49805228
it's not just LINK btw

check this guy, 90 minutes ago
wanted to withdraw 55 ETH. got 33 (60%), rest in BNT

https://etherscan.io/tx/0x55fbed94dfd5d92ef959cae4b1f467b0a16c15c2659ae3331f4c5562c09e0cfe

>>49811820
yep, I'm actually hoping lots of people do pull out and market sell a shit load of BNT so I can slurp, these idiots have no idea how bancor works and this 'event' will have no impact on the health of the protocol, but it might make an amazing buying opportunity to accumulate more bnt

Is bancor cefi? You'd think if it was some defi protocol people could've warned about this scenario.

>>49813954
Bancor is DEFI

>>49813081
bancor bankrun happens
BNT is minted to the heavens to cover people's IL
BNT dumps 99%
as BNT is now so worthless an absolute asston of it needs to be printed to make up for more people's IL
BNT goes to 0, bancor's liquidity dries up. when trying to withdraw you are now offered 100% of your position in BNT (which has no liquidity to sell into so you can get your stack back)

you lose everything

>>49810816
right, and the only way to swap BNT to LINK is through bancor reducing the LINK supply in Bancor even further.

Bancor is just a slow-motion degen farm.

wtf is a "token" you all are talking like we are in a casino in las vegas

>>49814275
This is so pants on head retarded I don’t even know where to begin.

>>49814337
this is described in a paper bancor published retard

>>49814337
So you’d be happy with getting a lot (or all) of your withdrawal in BNT?

>>49814289
bancor can resupply their link pool, its not finite

>>49809896
thinking about getting a bag of bnt as soon as those wallets pumped link with it

>>49812427
Wait did Celsius pull out the big amount of LINK and ETH?
But they are trying to short LINK and sent 6.7 million LINK to FTX today.

They won't be buying LINK with BNT then, but won't be able to sell the part which has been converted to BNT as LINK.

>>49814321
you must be 1 picosecond old to post on this board

>>49810911
>also I double checked the exact number of withdrawals in the que is 3,698,255 vs 3,656,133 links in the pool
why are you lying, there's 7,845,290 LINK in the pool. 4.3m in the bancor v3 master vault https://etherscan.io/address/0x649765821d9f64198c905ec0b2b037a4a52bc373#tokentxns

>>49814275
listen to this talk hosted by chainlink, you'll find that bancor is one of the few good actors in this space, it also debunks the bank run theory, you're likely retarded disingenuous fudder though

https://www.youtube.com/watch?v=B2mVaPFFdoE&t=

>>49814479
see >>49814373

>>49814489
what you posted is about version 2, version 3 fixes this, you suck at research, but I guess the more people you scare off bancor the more likely I can buy cheap bnt so good luck

>>49814535
>what you posted is about version 2, version 3 fixes this,
ok mate explain how v3 fixes it. go on.

>>49814440
>Wait did Celsius pull out the big amount of LINK and ETH?
no, at least so far only eth has been confirmed
>But they are trying to short LINK and sent 6.7 million LINK to FTX today.
you don't know why they are sending link to ftx, maybe to sell it?
>They won't be buying LINK with BNT then, but won't be able to sell the part which has been converted to BNT as LINK.
this part I didn't even understand

>>49809948
>Is there a liquidity crisis for LPL?
heres the link where you can monitor pending withdrawals of LPL
>https://etherscan.io/token/0x5d74b268d60d70cb35487f8c7a2def58c13b5a36?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a

>>49814575
there's no more LM rewards which significantly decreases BNT inflation

>>49814638
that's not really reflected in the supply charts though is it?

>>49814442
Go easy on the disembodied angelic creatures. They're too kind for this world.

>>49814440
doesn't celcius has an obligation to their custodians to get them back their assets. why should they sell? would add additional risk on top of the already bankrupting risk. Sure market might go down more, but they could as well be easily liquidated and be unable to get the custodians their assets back

like i mentioned yesterday, i noticed each subsequent successful withdrawal of LINK from v3 is getting .05% - .1% less LINK. for example the latest withdrawal got 54.5% LINK.

>>49814646
I think you'll see a general trend down over the next year for the supply, v3 only recently launched and it did so in a very volatile time which includes Cefi players like celcius having to liquidate large positions causing a spike in minting

>>49811170
>Link Staking protocol through LPL.
With the current nonsense this seems unlikely

>>49814821
not really, they have at least 200k LPL ready to go

>>49814464
am I looking at the wrong numbers?

>3,661,581 bnLINK in the contract
https://etherscan.io/token/0x516c164a879892a156920a215855c3416616c46e?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a

>4,292,214 LINK in the master vault?
https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x649765821d9f64198c905ec0b2b037a4a52bc373

Those bnLINKS are just basically IOUs for any links that have been deposited.

I see that you took the vault value and divided it by LINK price which would give around that number? But this liquidity I imagine is not only link, but the combo of link and rewards. This would mean that they're running the pools more or less 50/50 (normal), which means that all the people withdrawing would get about 50/50 of LINK and BNT when they do so. They have a bit extra in their vault, which is smart. However, it doesn't change the fact that they will have to pay people a very large part in BNT, which is the defining issue here since the beginning.
What do you think?

I am a retarded fag, do i buy now or wait for it to dump? I think am gonna wait

>>49815015
I am DCAing right now. The price may go down more, maybe even a lot more, but it will very likely go back up eventually.

>>49814950
look at the max total supply from your first link. thats the amount of IOUs bancor has on LINK

>>49814610
Sending funds to ftx can just be for hedging. How do you know otherwise?

>>49813391
This recent enough for ya?

I honestly think this is just overblown and a giant nothingburger. I have 1 more day left in my "cooldown" (withdrew before the fud and for other reasons) but I am thinking of just cancelling

>>49816327
You have now reached the bargaining stage.

>>49816500
This level of hubris rooted in ignorance and stupidity is normally only found on Reddit. Perhaps that is where you belong?

>>49816667
people like you are the only chance bancor has to survive. keep slurping bro, the BNT price is definitely not going to tank on the 21st/22nd

>>49816782
Why are LPL fags so low IQ?

>>49812807
you missed the other part of the game theory play out, as BNT price is driven down but transactions are going up, the APR keeps increasing on the BNT and stable coil pools and new actors with deep pockets enter to benefit from parking their coins in the future of finance and increase liquity and enjoy BNT going up as BNT is burnt

>>49817039
nice projection

>>49816327
you WILL get 60% bnt and you WILL be happy

>>49816500
And you are still in the anger phase for missing out on glorious Bancor staking over the last year+. I would be mad too

>>49805228
If it's Celsius they'll just market dump all of it
Unless they have some back room deal with Sirgay, Sirgay might buy them back at OTC prices so they won't flood the markets
Chainlink unironically suffering from the Celsius bullshit they were a big partner

>>49817066
>new actors with deep pockets see BNT drop 95% in a year
>hmmm yes it's definitely worth putting my liquidity into BNT so I can get 20% APY on it

>>49817314
Where else better would you park it?

>>49817314
Retard. BNT has been a lot lower before. It’s going to be fine but if you are a small dicked weak handed faggot maybe you should just stake on goybase.

>>49817525
hey faggot your sure like to call people names. keep shilling BNT absolutely no one with an unvaxxed, functioning brain is touching that with a 1000 foot pole

>>49817728
Which is why you will always be a poor nigger brained faggot with a tiny dick. /biz/ doesn’t know how to make money anymore because you’re all retards.

>>49817760
keep stringing together 'insults' it makes your argument that people should buy BNT oh so much better. when you go full ad hominum you've lost any argument you were making, congratz champ

>gets back 55% of their LINK and rest in BNT
>immediately market dumps to swap back useless BNT for actual useful LINK
many such cases. slurp it up bnt bros

>>49815734
I think that's the max supply, and since they mint the tokens as needed it fluctuates? And anyways it doesn't change anything about what I said previously, since I was referring to more or less to a same number.

>>49818131
its the amount of LINK IOUs. look at any withdrawal or deposit transaction and you'll see that bnLINK is either printed when they deposit or burned when they redeem

>>49817941
>realises this was blown out proportion
>stakes LINK back on Bancor
>loses LINK to arbitrage and withdrawal 0.25% fee for no reason

>>49817900
I don’t care if you buy or not. I’m not trying to convince anyone of anything because you are irrelevant. I’m insulting you because I hate you because you are a subhuman.

>>49819070
keep going it'll make you feel better. it is strengthening your argument even more. SLURP IT UP BNT BROS

There are three major problems facing blockchain technology. They are Decentralization, Scalability and Security. Truthfully, this trilem hasn't even been solved by ethereum as anyone who has paid a transaction fee lately can tell you.

>>49819307
My argument is simple: Bancor will be fine and BNT is massively undervalued atm due to centralized scams failing and retarded retail newfaggots (like yourself) panicking. But go ahead and keep screaming that the sky is falling on Bancor. I’m sure the death spiral is about to happen in just two more weeks!

>>49809948
Yo stfu. Im still coomin.

>>49819475
this is a gpt3 bot post powered by open ai
report this post

Uni is worth 10x Bancor, one of them is mispriced, time will tell which

Solend the largest lending market about to have a liquidation of $170m that could crash the Solana network but I don't see any daily Solana threads about this.
And yet this co-ordinated FUD against the Bancor network has been going for over a week, all for a measly 3000 LINK which is only 18k worth.
Why are we seeing countless FUD against Bancor you say, because they want you to panic and withdraw.

>>49819948
likely its from LINK bagholders that had their 10000+ stacks in cold storage earning them 0% for years. They hate to see others making a % gain and it makes them seethe

>>49819948
uh this is a link board newfriend

>>49820045
Was a Link Board. Now it’s a Reddit tier board.

i got 53% of my link back last night. swapped the scam tokens for link on bancor. sorry about the links i took anon. i hope you arent the one that withdraws and get 100% scam token with zero link liquidity to swap to.

>>49817525
funny how the bnt shills show up a couple days after >>49809968 . If you love BNT so much go make a general and explain the tokenomics, thoroughly.

>>49820339
At least as a BNT bull/bagholder my motivations are clear. One can only wonder what your motivations are for all this fud. Let me guess you just don’t want your bros to lose money right.

>>49819526
nah this isnt a two weeks thing. this happens 21st/22nd. if nothing happens after that then BNT and bancor can survive. congrats on forming one sentence with hardly any person attacks. you'll get better with age. its better to let your argument speak for itself anyways. when curse and stomp your feet it just comes off like your a giant toddler.

>>49811820
Who the fuck buys BNT? why would anyone ever actively pursue this swap token.

Frens do not hold BNT ever.

Where is the fud threads on blockfi?
https://twitter.com/otteroooo/status/1538561922282336257

Imagine when all the other Defi goes belly up and Bancor left hardened from stress test, I will bad for the smoothbrains who lost out on earning on their linkies due to Jasons fud

>>49812890
Too late.
The withdraws are already in.
This is happening.
This is a fact no longer theoretical.

Hey fud crew. I expect daily threads about the true vortex (V3 burner and autocompounding going live) after this nothing burger blows over. Thanks pumpkin.

>>49814535
Explain to me why you would ever want to buy BNT? Not being sarcastic.

>>49819948
solana is a reddit shitcoin and as so nobody cares about it here
bancor and by extension chainlink are /biz/ and therefore garner interest

>>49821865
>its a biz thing so people are interested
lmao, fucking /vt/ a board about virtual youtubers gets more posts per min then /biz/.

54.6% LINK + 800k BNT. BNT immediately dumped for LINK. SLURP UP BNT BROS

>>49805787
basad

pending withdrawls looks like one day of pain and then nothing burger?

Hope you fudders are happy, Risk is disappointed in you all
https://twitter.com/LinkSemper/status/1538565968892502016

>>49822569
wasnt this all supposed to be anonymous and decentralized. crypto, in general. like, why can we even see this

>>49817241
LMAO I bought my most recent waverunner from the bancor rewards I got in 2021.

I saw these problems coming a mile away. Anybody with an IQ above room temp did too. Now im getting my kicks rubbing it into you dumb nigger's faces how much you've fucked up.

Mark staying based and saying he will look after linkies and you guys try and pull a weak death spiral on him?
https://twitter.com/Linkcap4/status/1538568512922337281

>>49810393
good way to lose your stinkies brah

>>49822660
>https://twitter.com/LinkSemper/status/1538565968892502016
>why won't you hold my bags?
>DO NOT REDEEM
pure kino

>>49822662
No main advantage of crypto is lack of privacy.

You will own nothing and you will be happy.

>>49810393

As much damage as link is causing bancor, Link is the least of Bancor's problems. Pic related

>>49822763
if thats true then you really have a mental illness, but if you are larping you still have a mental illness

>>49810393
>too big to fail

>>49820311
This is bad fud. You can just swap to literally any other coin then go buy LINK somewhere else with it.

>>49821381
This is just it. There is no incentive to hold this coin, actually there is a disincentive because you're just going to get dumped on. In v2, you could stake BNT for good LM rewards but that's over now, and the rewards are terrible. There is zero reason to do anything with this coin other than sell it for something else. I challenge anyone to disprove this with facts.

>>49810702
Link has been decoupled from daddy shitcoin since June 6th.

>>49824842
The main point of v3 is to make bnt appreciate over time

>>49819948
you are fucking blind then, there was a thread about solend doing some scummy shit. virtually every user was shitting on them
the thread somehow got deleted, but a new one popped up

also
>whataboutism
>on a completely irrelevant centralized shitcoin

reminder that bancor is a protocol made by purebred kikes
reminder that bancor suffered a hack when it first opened
reminder that bancor strategically shills on /biz/ regularly

>>49824913
How is it going to do that when it's in hyperinflation, has bad rewards, and people are so concerned that theyre runni for the exits? Bancor is caught in a downward spiral, just take a look at the supply if you don't believe me. This is akin to a bank run, the only way I think they could stop it is to start limiting withdrawals, and once that happens it is over.

>>49824913
well looks like they programed v3 backwards if thats the case

>>49822610
ah really..? u better look again fren. they introduced 7 day cool off period with the obvious idea that it would limit bank runs (not a bad move during a bear market), but if you start adding up all the withdrawal requests from the last week...it's looks like burger is served with fries, milkshake, another burger and whatever else is rest on the menu...

wow this thread is still going strong, hope you FUD posters get paid for working overtime also Bancor will still be here next week

You are dumping against eth again you stupid faggots

Fudders will get the rope and I will fuck their mothers and wives.

Everyone loves to talk shit about Bancor. In a few weeks everyone’s gonna be copy pasta the code. History repeats itself and Bancor always wins

>>49824992
I’m so counter Semitic that Hitler himself would be like woah chill out man and even I know that the Bancor kikes are based af.

>>49822662
>wasnt this all supposed to be anonymous and decentralized. crypto, in general. like, why can we even see this
like, how fucking new are you? like, is this your first day hearing about crypto? in general, like, go back faggot

>>49825349
>>49825535
>>49825806
>>49825844
mark's deployed the shills

no, we aren't going to allow bancor-wrapped tokens in our protocols, fuck off

There’s an awful lot of esl spelling and grammar errors in this thread.

>>49826151
Like fucking Bancor cares about a few perma virgin incels in this shithole holy fuck the delusion is real

>>49810743
By that logic I shouldn’t have sold my ust at 98c when it started to decouple because I would have been contributing to the decoupling but I was first to the door so mostly whole

Whats with the anti BNT crowd? Must be shills from Celcius or Aave working overtime.

>>49826697
Bancor is literally the anti thesis of Celsius you dirty nigger faggot

>>49819948
sol is a centralized shit chain that goes down once a month. The solend shit is insane, but everyone knows that entire chain is trash

also lol at the BIDF

Someone needs to teach bancor shills about streissand effect, if this was a nothingburger you could safely ignore it and it would go away. Also this has been a /link/ board for nearly 5 years now so insulting linkies isn't going to convince people that your house isn't on fire.

Deposits are locked, and when attempting to withdraw it displays a warning "Please note that IL protection is temporarily paused." Why can't I find any announcement about this?

>>49828377
The plot thickens

So IL is paused so that's there is no withdrawal, according to my schizo mind

>>49828470
>>49828625
oh my goodness.
i have a theory that bancor will do some magic to keep the price of BNT from catering. for example, the last big withdrawal here >>49822569
when he sold his 800k BNT, the transaction looked like pic related. it doesnt seem like BNT even hit the market, or would count as volume. just a simple swap between v3. this would keep the price of BNT from being effecting. and they will just LOAD their vault with BNT

>>49828738
compare that pic with this pic. i think if it doesnt involve the Bancor Converter than it would have no price impact . you can see this transaction (swapping BNT for LINK, similar to the other) does involve the converter, and not the master vault

>>49828377
>>49828470
>>49828625
Liquidity providers about to get rekt.

So happy I withdrew everything from Bancor yesterday. There's no "coordinated FUD" here, the only thing I'm seeing is coordinated rushing to defend Bancor, for no reason.

The bank run theory is plausible, and it's looking increasingly likely. By the way, if Bancor falls, what does that mean not just for the current market prices, but for the entire concept of DeFi as a whole?

How many protocols are vulnerable to a run through these retarded reward tokens? If DeFi can't survive a bank run scenario what the fuck is the point?

>>49828281

Bancor:
>heres our AMM solution with the best Impermanent loss solution in the space
>this is how its achieved
>please keep this in mind and decide if its worth using for you
>please be aware of this particularly in volatile times

>1-5 raging lunatics on biz who cant stop talking about bancor:

>OMG ITS A SCAM THEY SRE MISLEADING US AND TRYING TO HIDE THEIR IMPERMANENT LOSS MECHANISM AND TRICK EVERYONE INTO LOAING THEIR STACKS!

I am absolutely convinced it’s literally Nexo/Celcius/blockfi and such doing this.

>>49828818

Bancor is doing exactly what it says on the tin. It has never hidden anything. Just because it doesnt suit your timeframes or stomach for volatility of a different kind doesnt make it a scam. You are brain damaged.

>>49828824
Just stop defending this faggot. A broken protocol is a broken protocol. It makes no sense to try to stop people from discussing a major protocol breaking.

Why the fuck are you trying to stop discussion about it?

>>49828847
Where did I say it was a scam? How much do you still have on there kek

>>49828824
>goyim didn't you read the fine print? no? not my problem
but yes keep crying. and keep bumping these threads.

>>49828818
I think it teaches a lesson that crypto is too volatile to guarantee impermanent loss protection. The token that's paid out to make someone whole is going to incur so much selling pressure that it will eventually have to hyperinflate to keep up, killing the protocol.

>>49828853

You have yet to say how its broken. All i see is you spamming Biz in every thread about how people are getting a split if they withdraw due to IMPL. Which is basically a feature and explicitly understood by everyone and not hidden at all.

Its as if you’re complaining that retirement investment schemes with employers are a scam because you get a if you withdraw. You are a fucking idiot.

>>49828853
>>49828875
They're freaking out and its giving me many keks. This has been an extremely comfy bear market so far, love watching this all burn from the sidelines.

So Celsius wallet can't withdraw probably their link, what's happening and what does it mean?

>>49828853
technically not yet broken and functioning as advertised

>>49828875

>>49828875

I have never used Bancor so im pretty neutral here. You have a hate boner because you are either a malicious party like Cefi fags who have raped LINK, or just a linkpool madfag for them giving it more volume

>>49828895
People predicted this during the bullrun, but bancor shills told them to shutup and kept bragging about their sweet staking gains. Now its all burning down and its "NOOO STOP TALKING ABOUT IT YOU"RE EVIL FUDDERS YOU"RE FROM REDDIT THATS WHAT US COOL KIDS ON 4CHAN SAY RIGHT? YEAH, REDDITORS!"

its so incredibly transparent. but fun to watch.

>>49828906
Take a look at the supply of BNT over time (specifically the last month) and you tell us what's wrong with it.

>>49828924
neutral party my ass lmao, nobody who is neutral on this website tries to silence discussion.

>>49828818
its great and necessary for protocols to get stress tested like this. Bitcoin is respected because the network security has stood the test of time.
Personally I don't use Bancor because I do not want to hand over control of my link.

>>49828924
Kek, you're doing damage control awfully hard for someone with no skin in the game. For disclosure, I have over 6k BNT that look like they're going to be worthless soon.

>>49828884

>fine print. Its literally the entire premise and the largest selling point of Bancor. They make NO attempt to hide it and actively promote this information. You’re a fucking idiot mate. You rage all day every day about them.

You’re like a retard who buys a token on leverage and cries when you get liquidated above bankruptcy like most competent exchanges do to prevent socialised loss.

>>49811000
checked
>is going to blow up if LINK goes up too much vs ETH and reaches a 0.0090 LINK/ETH valuation...
where does that 0.0090 LINK/ETH come into play?

>>49828895

On short time frames. Those that keep their position in for 6 months or longer will have no problem. They’ll even get a larger share of the fees now.

Obviously the is doesnt suit people who cant afford to stay for longer due to needing collateral to save other margin calls or just wanting to panic sell their assets

There is a twitter space up, come and listen to how you guys will get back your money
kek

>>49828924
You are definitely not neutral

>>49829080
lmao, where can I short BNT, this sounds like a luna 2.0

>>49829037
The fact you don't know how to green text is just the cherry on top of the missing the point cake. Go back, and give up shilling here. The bull run is over.

>>49829063
Don't you see? The protocol is done, they're pausing IL protection, who can trust them now? Next, they'll stop withdrawals. There is zero reason to hold this anymore other than the fact it won't be worth the gas to move and sell.

>>49828988
checked and somebody who is actually a neutral party would be rolling at this dumpster fire. he's either a paid shill, literally works for bancor, or is sitting with a shitload in the protocol and hoping he can beat you to the exit and escape with less BNT than you'll get.

I fucked up today. Didn't realize that both withdrawing and depositing had been paused so I unstaked my linkies and bnt because the protocol said i was in some pool that wasn't paying fees (0%). Assumed it was some v3 beta bullshit. Now my stinkers are stuck on Bancor earning nothing and I still can't get them back.

This is cool and all, but if I hold LINK is this bad for me or good?

>>49828939

If you are talking about 42, he is a fucking annoying cunt. But he’s nothing to do with bnt. Just cause one retard me or you hate uses something doesnt make that item bad.

>>49828959

Yes. Neutral. I dont see anything that wasn’t advertised rather explicitly happening. I just see people who are angry they didn’t understand what they were doing. Clearly BNT doesnt suit people who may need that deposit as collateral for margin calls in volatile tomes or people who are likely to panic sell.

>>49814411
How would they do that?
>by buying link
And how would they affect the link price?

>>49821290
if sam bails out celcius, are celcius then able to then cancel/reverse that absolute assfuck of a withdraw?

>>49805228
universal loss of trust in custodial wallets. bancor is leverages the assets deposited on their system and will give it back to you after they have drained the liquidity out of it, in this case by shorting it (market sell 1x).

i would say withdrawals from their system is the same as a market buy. in the case of lending, if they have lent more than they have, then this is multiplied, and could be a squeeze.

watch their APY. if it skyrockets they are being squeezed as they are desperate for liquidity, if it doesnt move then they already derisked and its a nothing burger i would bet on the former and would pull everything off bancor right now.

Utterly shameless

>>49829309
oh i didnt know this. you better hope they borrow it from someone and give it to you, short squeezes only work if you have hold of the underlying assets, otherwise it just all goes to the administrators when they go pop.

get it off bancor as soon as possible, good luck.

>>49829786
NOOOO LINKIES WHY YOU REDEEM SIRSSSS

>>49829786
what does this mean?

>>49829786
PLEASE DO NOT REDEEM SIRS
BE GREATFUL TO US SIRS WE PROTECTED YOU
PLEASE DO NOT REDEEM FUNDS OR I CALL POLICE

>>49829942
it means for the 3.5m LINK/ 30k ETH pending withdrawal, once the individuals 7 day wait ends, they then need to decide if they want to receive 50% of their LINK and 0% BNT. So they have effectively stopped withdrawals by changing the rules. listening to the Spaces now, Mark is arguing that they are doing this to protect dumb investors.

>>49805228
Nothing

>>49814479
>pauses IL protection
Oh NONO NNO NO NONO NO NO

this is also proof that impermanent loss was just a made up concept. only works during favorable market conditions? shut it off whenever we feel like to influence peoples decisions? fuck, sorry LINK bros with link on bancor.

good for link or nah

I mean not good for linkies but Celsius and the others who wanted to short link are btfo no?

>>49830158
They couldn't short through Bancor

>>49830131
yep
100% IL protection lads! guaranteed!
IL protection is extremely important, it protects you from volatility!
oh shit we got volatility
never mind, we are *temporarily* disabling IL protection
also got some urgent business in israel, will be back soon!

>>49830139
its just sad for all now honestly. Guy talking right now has all his networth in DAI on bancor. he cant even withdraw a fucking stablecoin without impermanent loss

>>49809896
>>49814427
Retarded faggots BNT is printed when LP isn’t enough to cover fees we’re literally at the very beginning of the death spiral. PULL EVERYTHING OFF OF BANCOR NOW OR YOU WILL GET FUCKED THIS IS YOUR ONLY WARNING FRENS

>>49830158
bancor is an amm
it allows you to buy/sell link without the intervention of exchanges
amms do not really have an impact on this type of thing, buying/selling through an amm isn't conceptually very far away from buying/selling on binance. they are not like celsius or nexo

BUT

i am pretty sure celsius did some heavy liquidity farming on bancor, presumably other cefi platforms as well
this could have cascading consequences

All you had to do is DO NOTHING with your link until staking, that simple.

>>49830245
this.

>>49824801
is my fud bad now anon?

pic related: a short story

F

>>49830308
>19 posts by this user.

Kill yourself you stupid fucking nigger.

>>49830308
kek the only reason to do this is because they do not have deposits on hand to cover withdrawals. those deposits are now in short positions simple as

>>49830327
Oof, someone's LINKies are stuck on Bancor!

What if... So there are 3.6MM LINK about to be withdrawn off bancor which will cause a massive cascade of BNT dumps and LINK market buys to make the withdrawals whole. There is a massive leverage position (150MM IIRC) that will get liquidated if LINK pumps to mid $9's. What if those actors that have that upside down position payed off the Bancor team to do this to prevent them from getting liquidated?

>>49830308
you literally cannot cash out

>>49830327
how do you do my fellow 4channer

>>49829786
>>49830087
There's no way.
This is real?? Holy fuck

>>49830509
yep
it is the natural, inevitable result of trusting kikes with your money

https://twitter.com/LtColLinkarski/status/1538668577095569408
>this is entirely fucked!
no refunds kek

>>49828847
Kek, if you’re actually subtly fudding Bancor you’re a genius. If not...

>>49830589
So they're going to get 60% of their stack and nothing else?
Or do they get another chance to keep their link inside the protocol?
>>49830575
These Jews are literally robbing these people lmfao

>>49830437
Oof, you know BNT survived the last bear market? You realise what a piece of shit it was back then? Oh you're probably a kike newfag trying to outkike kikes. Dumb niggerfaggot all you fudding faggots should kys.

>>49830327
19 posts and all of them proved right. and shills are BTFO.

>>49828911
Agreed. It’s amazing how rapidly the quality of posts goes up in a bear market. It’s like /biz/ is healing itself.

The funny thing is that I asked if this exact situation could happen when Luna started melting down. I remember Bancor shills attacking me and calling me retarded. I guess you guys get what you deserve

>>49822662
>being this new
OPEN, IMMUTABLE LEDGER.

>>49830663
>So they're going to get 60% of their stack and nothing else?
>Or do they get another chance to keep their link inside the protocol?
if they lost their stack anyways people would have no incentive to stay in
this is basically their ultimate kike move: "stay in the protocol or suffer IL damage"

they want to stop those millions of LINK in pending withdrawals

>>49830669
>Oof, you know BNT survived the last bear market?
Yes, but at what cost? I've been here longer than you, kike, and I have witnessed Bancor treachery first hand when it happened back in the day. They changed leadership and had a nice run in 2020/2021, but seems like the old kike ways reared their head in the end regardless.

kek Mark just said he was scouring twitter and messageboards for info to see if this was just people queueing up withdrawals or actually intending to withdraw. and his conclusion was they actually wanted to withdraw, so he stopped them from being able to do so.

>>49830804
>so he stopped them from being able to do so.
NOOOOOO THIS IS SRS

>>49830669
How much of your stack is still stuck on Bancor?

>>49829478
lol I forgot that him shilling bancor is the thing that finally pushed me over the edge to write that copypasta

>>49829478
42 from "the schizo corporation" has paid bancor posts here all the time forcing you to get your link and lpl into bancor v3

mark has a way with words, and by that i mean ive been listening to the Spaces for an hour and his preferred tactic for dodging a question is to just keep spewing words, until the audience forgets what the original question even was

>>49831052
lol, I decided to check his twitter. Hes still running defense for them. When this all shits the bed hope you enjoy the dole 42

>>49831009
you're the author of that pasta? based. this board is finally starting to feel purged again, all the 2019+ on bullrun newfaggotry is crawling back into the darkness.

>>49831116
yeah they do that a lot whenever they have to answer a direct question like alex from Celsius kek

>>49825870
these 2017 memes getting to be posted again

>>49831052
42 is a nice guy, but you can check his wallet he has his LPL staked with linkpool. he does have his LINK on bancor though

>>49805313
And by pump slightly, you mean giga-dump, correct kike?

>>49831132
lol yea. I never left faggot. You assholes would rather be moonboys than listen so at a certain point I just lurked.

>>49831130
>you can cancel the withdrawal goy
>dont leave the cult goy things will go bad for you
holy fuck this shit is going down and i hope 42 gets burned hard

>>49831116
yep, loves to get talking about nothing
some notable stutters on questions about who made the call to shut it down and what the plan is to actually resolve the situation.............

Someone update me on what has happened?

They turned off Impermanent loss protection. Does this means stacks already being withdrawn and in the waiting period will get an even smaller share of LINK bank now?

>>49831168
maybe you can help a brother out, I need the sergey fucked on the traintracks pasta, its by far my favorite and I don't have it saved...

>>49831154
42 is a nigger kike and so are you faggot kys. I would happily eat a small loss on my bancor withdrawal now rather than wait and be told withdrawals are disabled and hodl mode in engaged kek

good thing my linkies are safe and sound with me in my wallet

>>49831184
>Does this means stacks already being withdrawn and in the waiting period
yes

>will get an even smaller share of LINK bank now?
not sure on that one
i believe IL is covered via BNT, so they basically lose the BNT payout (and keep around 50% of the LINK they originally deposited)

>>49830362
Not how an AMM works retarded fucking dumb nigger

>>49809896
>>49810297
>>49810171
>>49809931
>>49809915
>>49810578
>>49810651
>>49810816
>>49810953
>>49811153
>>49811170
>>49814411
>>49814834

>>49831199
Checked, and can't help you anon. I generally don't save copypastas. I just can't stand that nigger that much.

>>49831236
>does not post how "it does work"
it does not work that is the point retard get rekt

>>49831200
no he is a christian. good, ive been telling people to withdraw for days

>>49805787
The inevitable future includes 1LINK>1ETH. Anyone who knows anything knows this simple fact

>>49831287
your mate mark has disabled that feature sorry no refunds

>>49831236
You’re going to lose your stack lol

>>49831275
For one you aren’t depositing anything and no one has possession of your tokens. They are locked in a smart contract.

>>49831341
kek fren i think we are having a misunderstanding. we can disagree on our opinion of a namefag. but look at my posts in this thread, i am on team get the heck off bancor asap

>>49831386
so why are they having problems withdrawing tokens if they were never deposited and why do they need to eat a loss if all deposits are on hand to cover the withdrawal?

>>49831398
you are being way too lenient with 42

migrate
>>49828578
>>49828578

>>49831398
42 is a nigger. You are a nigger if you want to defend him.

>>49831418
Learn what impermanent loss is holy shit

>>49831486
that feature is now disabled holy shit hahahahaha

>>49805228
People are afraid they will suffer the same fate as as Celsius. Whether they will or not is not known.

>>49831468
nah im good thanks

>there are no deposits on bancor
>it is a smart contracts
>users are encouraged not to withdraw funds
>impermanent loss protection is now disabled
hodl mode encouraged
>withdrawals will be dealt with on a case by case basis
>50% loses may be standard because we dont have tokens on hand to cover withdrawals
>you didnt really deposit tokens its a smart contract
>learn about impermanent loss protection
>that feature has now been cancelled
>users are encouraged to keep their tokens at bancor
KEK

>>49831486
OH NO NO NO NO NO NO NO NO

DO NOT FUCKING BLOODY REDEEM LINK MY BASTERDS!!!!1

>>49831828
redemptions have been cancelled my good ser
right now you can only redeem 50%

>>49830589
cheers for the ETH, here have this shit token

>>49832244
HAHAHAHAHAHAH THEY HAVE NO ETH THEY FELL FOR VITALIK'S STAKE SCAM HOLY FUCK THIS IS GOING TO BE EPIC IMA GRAB POPCORN

https://twitter.com/LinkSemper/status/1538707030176935936
>no one is (((forced))) to take a loss just wait
HAHAHAHAHAHHAHAHAH enjoy the wait faggots

>>49832244
LOL

>>49829054
Shorts with eth as collateral get liquidated

>>49830589
>>49832244
ho lee fuk

Everyone in crypto deserves to be made fun of. It's comical just how horrible and scammy things are behind the scenes.

these platforms all end up displaying the same tyrannical behaviour that crypto is supposed to solve

>>49812992
Degen's Dilemma kek

>Mfw "NOOOO DO NOT REDEEM" was just successfully unironicallymemed into the crypto world.
I truly love this divine comedy which is life.

>>49831225
So basically now they are stuck with the dilemma, either withdraw now and safely recover 50% of your stack guaranteed, or wait and risk your entire stack disappearing, for the chance of being able to leave unscathed.


Well /biz/ what would you pick?

A. 50% of your stack
B. Random chance of 0% or 100%

>>49834315
odds = A
evens = B
Roll for it let kek decide