3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
dam people are getting screwed even more than i thought. sorry frens
>>498400974.1m LINK pending withdrawal - with no IL protection >https://etherscan.io/token/0x516c164a879892a156920a215855c3416616c46e?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a
>>49840117only 22k ETH pending withdrawal now - with no IL protection (which was the only reason anyone provided liquidity to bancor). why did it drop like 10k? because someone withdrew their 10k ETH and got only 5800 ETH back. SOMEONE JUST TOOK A 4200 ETH HAIRCUT, just to get their shit off bancor
>>49840145to be clear: this person with $10m on bancor just told the jews to tongue his anus and took back his shit at a loss of $4.2m
>>49840145Sometimes I wonder how people so retarded have so much money. That person could have just waited and withdrawn a little bit if they needed it. If they had no faith in the product and think the market is never recovering then why put that much in to begin with
>>49840182the last LINK withdrawal (25 mins ago), received 54.2% of their LINK back. and nothing else. i dont think we will ever see an in person appearance at an event from bancor employees - calling that right now.
>>49840280ok thanks Rick from bancor. he is withrdawing it because bancor is a ponzi scheme and he clearly didnt realize that before. expensive life lesson, but he'll recover. Imagine your preferred brick and mortar bank telling you "thanks for your deposit but we need the money right now and if you took it back we will only give you half of it at most. its not our fault its the markets fault!"
>>49840145Imagine the long noses
>>49840097>>49840117>>49840145Goddamm I'm so glad I didn't fall for the cefi meme
>>49840145Did he not get the remaining amount in BNT?Also how is there so little in the pool? I didn't think anyone actually used bancor to buy.
>>49840414thats 22k ETH pending withdrawal - a separate account. no fren, didnt you see the news? Bancor promised IL protection, people deposited, fast forward to yesterday - there is no longer IL protection, and there is no time frame for when or if it will be re-established. you can listen to Mark make excuses for 2 hours straight here>https://twitter.com/Bancor/status/1538662297635282949>>49840349kek they put Pinocchio to shame>>49840381always trust your gut, good job
>>49840478By 'long noses' I mean the jew of Celsius, stealing funds of their users to rape Bancor.
for the record, i warned people for the last few months that something like this would happen. I thought linkpool would be the catalyst, i can admit i was wrong on that.
>>49840145That was probably Celsius wallet you stupid nigger cunt faggot
>>49840516
>>49840097People deserve to be scammed for their stupidity.
>>49840503>>49840526bancor damage control has arrived. good morning Rick and Mark. yep, always make sure to blame someone else for your problems amirite? maybe you should have designed a system that actually works?
>>49840538no, and thats a jewish line of thinking btw. recalibrate
>>49840563Celsius stole their users funds to rape Bancor. Now they got double jewed. Its on them. Fuck Celsius.
interestingly the only withdrawal of LPL from v3 so far did not suffer any IL. maybe LPL bros still have a chance to jump ship
>>49840563No nigger I am a shrimp with ~3k on Bancor. I’m not an idiot who put his entire networth in crypto. If I lose my 1 eth and 150 Link, I’ll just get more. I make 100k a year wfh and my wife has huge tits. Suck my cock
>>49840608nice spacing. no the blame is on the protocol that couldnt handle it, which was bancor. Bancor was exposed as a ponzi, clear as day. we can do this all day long Mark. YOU are to blame and if you think people will forget you are mistaken. >muh its Celsius' fault because they provided liquidity to Bancor and then chose to remove that liquidityimagine the cope going through your head
>>49840576So we need regulations?
>>49840632so you got a wife and youre begging men on an anonymous forum to suck your dick? thats gonna be a yikes from me pal. congrats on making 100k (and bragging about it) in the current year.
>>49840709Top cope from a perma virgin incel. You will die alone hopefully soon.
>>49840697i hate governement so i would not be rooting for that. we just need bulletproof smart contracts, not platforms that promise yield and then need to do shady shit to generate it. Unironically of course, chainlink solves this problem
>>49840657>imagine the cope going through your headHappy about those jews protecting my BNT stake and fuck those others jews.
>>49840724GUYS LOOK HE HAS A WIFE WITH BIG TITS AND MAKES 100k PER YEAR. keep up the name calling it makes you look extremely astute
>>49840632So today you decided to open up biz, brag about the fact that you have less money than a thirdworlder, call yourself a shrimp and have a fat wife. Kek, the absolute state.
>>49840145it was celsius
>>49840755Ngl it was a bit cringe. What the fuck did he even post that shit o here
>>49840752ahh a classic case of thinking one jew is better than another. as their little book says, if you aint a jew, you're a goyim and goyim's purpose is to be exploited for the benefit of the jew
>>49840762It was your terraluna-tier shit design. >its your fault for using the protocol as it was intended!such a fucking retarded cope
>>49840785How to kill two jews? Put a pseudo decentralized protocol with impermanent loss protection between them and watch the fight.
>>49840780kek if i had to guess due to the timing, its because its monday morning and he is at a job that he hates.>>49840762so if you have a lot of money, and use bancor to earn yield, you are then not allowed to withdraw? all Celsius did was expose a flaw in bancor. Kek a twitter cap of clg. nice.
>>49840798any protocol could suffer from a bank run, but to purposely do it and then have shorts open on it is just planned murder. bancor stopped the death spiral and theyre forcing celsius to take the L
>>49840857they did more than just withdraw a large amount all at once, they took their bnt afterwards and started systematically dumping it, with a short open on FTX
>>49840759KEK this really is a special place isnt it>>49840834like a modern day gladiator ring of sorts>>49840860again that sounds like a lack of foresight on behalf of bancor. maybe they shouldnt of had a token that can be shorted in the first place. idk, i cant solve all their problems.
>>49840348>he is withrdawing it because bancor is a ponzi schemewhy did he put it in in the first place then if he knows it's a ponzi. For crypto to be a ponzi the price would need to never go down. I'm not defending them pausing withdrawls or whatever they did, i'm just saying that guy is a retard
this is based i hope they lose everything
>>49840922plenty of people fell for the bancor yield meme. i've always slept better at night with my stuff in cold storage. ill earn yield when i can stake my link on a chainlink node (linkpool specifically)
>>49840145Smart guy. 5000 eth is better then 0
>>49840918they said theyre going to put safegaurds to prevent this in the future, they have been very public/open about all of this and hosting spaces every couple days to keep the community updated. the death spiral narrative is off the table as long as BNT minting is paused and they said theyre probably going to allow people to systematically withdraw slowly when its turned back to protect the protocol. given the circumstances its probably the best we could hope for and i do wish bancor the best as a protocol.
>this was the most posted bancor meme of 2017..
>>49840860>any protocol could suffer from a bank run,No. No they can't. The problem with Bancor is the BNT minting mechanism. This would never happen to any other DEX, this would never happen to AAVE.
>>49840414>he doesnt know Bancor turned off the il protection "for a short time" Now everyone on it has a tough choice to make. Either exit before it empties with 59% or risk yout entire stack and cope you can leave with your full amount.Shit like this obviously destroys all trust in them so theres a good chance it will never recover
>>49840979This
>>49840280Defi is a scam, not a product. There is a reason defi had shit performance compared to every other crypto „sector“ even during the bullrun.
>>49840979It's hard to believe people are still defending this shit. They have lost all confidence and credibility, I unironically trust Pancakeswap more than these kikes now. There is a reason people are taking 50% haircuts totalling millions of dollars to get out now. That's because it's going to zero. There is no safeguard they can put in place to stop this because it's how the protocol was intended to work. What they did not intend is for everyone to see that the emperor has no clothes.
>>49841186they can limit whales withdraws
>>49841053>exit now with 59% loss>exit later and hopeI'd take the loss, this is a bank runnext step:>buy the tokens guys! we can squeeze the evil short-sellers, we're all in this together!
>>49841186>>49841198They are not closing us out, just limiting some super kikes.
https://twitter.com/LinkSemper/status/1538866719179128832uh-oh..Rick playing dumb
i dont have any chainlink or bancor but I want to know what happened heresome kind of run on the bank? please explain I dont understand thanks
>>49840478WTF is an impermanent loss protection and why do some have to drop half their link to withdraw?I demand tard spoonfeeding.
>>49841186>There is a reason people are taking 50% haircuts totalling millions of dollars to get out now. That's because it's going to zeroHow could it be when Bancor now holds half of those people's money?And those Celsius shills seem to be panicking
>>49841303>>49841353oh great, it's the retard squad...
>>49841420Well... proof you aren't one of us and explain it then ableist.
>>49841420okI literally havent even heard of bancor in years, had no clue anyone was even using itI made this image back in 2017 btw lol
>>49840097Anons, I sold all my Bancor last year for fat profits. I left about 50 coins for shits and giggles. It's worth like $30 now - should I just offload it and pocket the change, or should I hold in case some scamwhale pumps this again down the track?
>>49841414bancor doesnt hold shit. the half that people could not withdraw is gone. people traded for it. thats how a liquidity pool works. thats the impermanent loss made permanent. people who staked in bancor were sold a bill of goods while they provided their link and eth liquidity for people to trade and then withdraw. that liquidity they provided is simply gone and they are left holding the bag as the ponzi unravels. you can do as much damage control and blaming celsius as you want, ultimately bancor is flawed and the flaws are being exposed and those who participated are paying the price
>>49840632>I make 30k per year with “70k” of “equity”>my wife is fatOk thanks for the update anon
Nature is healing.
>>49840976based>>49841053agreed all trust is lost. Someone asked that same question on the Spaces last night "how are you going to rebuild trust" and then mark talked for 7 minutes about anything but that. >>49840979well good luck to them i guess. >>49841186kek>>49841222CHECKED. it was quite the clever way to stop the BNT price from approaching negative value. What causes BNT to be printed? IL protection. oh lets just shut that shit off then, problem solved. >>49841303>>49841353ok Patrick the star and friend, must be a nice rock you are living under! The long story short is this>people owned assets, like ETH, LINK, etc and wanted to earn yield on them>they trusted bancor v3 to earn this yield for them by depositing, or giving them their assets>v3 promised 100% impermenant loss protection which means in theory if you are removing your assets from bancor, if they cant give you 100% of your eth, link, etc, they will make you whole by giving you the rest in their shitcoin called BNT>theres a 7 day wait period between when you initiate a withdrawal from bancor and when you can actually withdraw it>bancor sees 30k ETH, 4m LINK pending withdrawal and says nonononono>"pause" impermentant loss protection, so people are forced to decide if they want 50% of their deposit back or to leave it on the protocol and hope the protocol doesnt go tits up
>>49841571>thats the impermanent loss made permanentno, it's not, if (i'm not saying it'll happen) bnt recovers against paired tokens the loss will be reversed
EVERY LINK HOLDER WAS WARNEDWE SPOON-FED YOU EXACTLY WHAT WAS GOING TO HAPPEN AND ORGANIZED JULY LAST YEAR TO GET YOUR SHIT OFFinstead you'd rather have some APR while they short your investment to be worthless, but better than that, you'll never get it backYou deserve everything
>>49840478even so, shouldn't be people getting some BNT too with their LINK or ETH at least?
>>49841571That's what a lot of people don't realize yet. >>49841642Yeah, and if Mt Gox returns all that BTC, and if USDT recovers its peg, and if... it's fucking over. They have lost all trust, who would stake with them after this?
>>49841685no bancor changed the rules in an attempt to influence behavior. no more BNT printing, which is why the price of BNT has stabilized.
>>49841685They have paused that to prevent a BNT death spiral, much in the same way Do Kwon disabled the chain to prevent trillions of luna printing. This is a catastrophic failure that is going to send shockwaves through all crypto once people fully grasp what is happening.
>>49841571>>49840976What is the worst that can happen? I will always get my LINK back, with or without ILP.
>>49840145or maybe it's such a big player that they figured it's better to take whatever you can right now and lawyer up later because Bancor is insolvent. It's not like Bancor is going survive out of this without a class-action.
>>49840348kek>>49840922well maybe they thought that a company would respect the contract and wouldn't steal their money? You know that if a company doesn't pay its debts they will be foreclosed, right? And you do realise that someone with that much eth will clearly sue them eventually.
>>49841639Thanks for explanation.
>>49841751Kek, have you not been reading or comprehending what anons are telling you? They are paying people out half of their native token positions in some cases, and people are still taking that because x/2 is still better than 0. They don't have everyone's full amount. The first to leave will get maybe half their positions, what do you think will be left in another week or two?
>>49840097Yeah it's over for Bancor. If people are taking 50% losses and still pulling their money, the run is on.
>>49841894I agree with the decision to fight of Celsius and fuck those kikes. They have been open around it, this bank-run scenario is not going happen. Even if they have 20% of the original liquidity of the LINK pools left, they are still the biggest AMM for LINK tokens to swap on a DEX. Meaning, that the ILP eventually will come back. Rewards will stay high during all of this.
>>49841222There is never any significant shorting in crypto so there can never be any meaningful short squeezes in crypto.
>>49840762>>49840891it's been evidently clear that celsius pulled out and obviously sold their bnt because they needed liquidity in another asset that they use as a collateral on their own loans. this has happened already, why the fuck you think the price fell 60%??? And so what who it is, of course allowed to pull their capital if they want, it’s not a fucking charity. I would also like to see these "two sources" that think that celsius is making millions out of shorting bnt with these thin order books everywhere. Why do you think their thin btw? could it be that if people would be able to withdraw they would get mostly bnt and the price would start crashing? the story is most often the most obvious one: shit dribbles down. >celsius falls in trouble>they pull out their liquidity from bancor>bancor realise they’re idiots for accepting such a big single liquidity provider to their ponzi scheme>ups now bancor is in trouble>shit keeps dribbling downwards>the users get rekt and the ponzi collapsesright now bancor is trying their best to manipulate the market because every single bnt that leaves their service will be sold in the market (and they are out of other assets, so you’ll mostly get bnt). look at the order books and volume, do you think there are people buying bnt, do you think there are “institutions” buying bnt? hell no, who in their right mind would do that?? it's only bots and bancors desperate laddering, fucking orders for 0.0005 bnt.
>>49840632>shrimp>150 linkhaha you're a fucking mollusk.
>>49842047Fuck all the LPs because Celsius used the protocol as intended? I have news for you, the bank run is already on, we're viewing it in real time. The other half of the issue, and why bancor wouldn't have survived long regardless of this, is that no one uses it to swap. No one used it in v2, and no ones uses it in v3. People only held there for the rewards, which are gone now, and the fees are shit. People will have ended up losing millions of ETH and link for a measly 3% APY. You think that isn't going to give someone pause before they LP on bancor, especially now in light of this. They are 100% finished, I just hope it's worth something by the time I'm able to sell.
>>49842047>Even if they have 20% of the original liquidity of the LINK pools leftlmao what the fuck, that's your "even" scenario?try 2% retard and even then it's extremely optimistic>AMMnobody uses bancor for swaps>the ILP eventually will come backdoesn't matter, the precedent has been setadvertising your IL protection when it can be revoked at will at any point is worth less than dirtalso people don't really give a fuck about ILP if it means they lose 50% (or more) of their stack, instead receiving it in your shitcoin>Rewards will stay high during all of this.paid in your hyperinflated shitcoin that needs outside intervention not to hit 0 kekposts like this make me feel 0 sympathy for you kikes, nor for the goyim who fell for your scamyou will all get what you deserve
>>49840657this. the whole >big bad celsiusnarrative is ridiculous. if anything, celsius was the smart one in this scenario, they saw a hedge for some of their holdings and bancor was stupid enough to accept. but on the other hand, let's not forget that bancor profited from this deal immensely as well, all that liquidity brought more traffic, more fees and thus more revenue to the owners of bancor. in the end the only person _really_ losing is the user, alongside of the ego of marky mark.
>>49840097Could it be that all these people getting ultra rekt missed the memo? I mean not everybody is 24/7 on /biz/ and twitter to see what's up, and they clearly wanted to withdraw 7 days ago. So maybe they just went through with it, without knowing that IL protection was off? Could this be?
>>49842241I never thought I'd say it, but the space needs oversight, if not regulation. It's not like a publicly traded company, they don't have to show their books or distribute prospectus. Seeing such a large chunk of LP (single sided, no less) would have given people pause. These guys should all be facing fines and prison sentences.
>>49841677>EVERY LINK HOLDER WAS WARNED>WE SPOON-FED YOU EXACTLY WHAT WAS GOING TO HAPPEN AND ORGANIZED JULY LAST YEAR TO GET YOUR SHIT OFF>instead you'd rather have some APR while they short your investment to be worthless, but better than that, you'll never get it back>You deserve everythingit does seem the stinkylinky fags had the right idea, but it wasn't becuase there shitcoin released staking, its because the market is over leveraged fucking everywhere and the whale ponzis(celsius) are failing and the waves are going to kill everything.
>>49842269No, they removed ILP retroactively, meaning that even though the decision was made and implemented last night, if you started your withdrawal five days ago, before all of this, you still would not receive it. These guys are criminals.
>>49840349It was indeed the night of the long noses
>>49842331I know that's what I mean, maybe some of these people didn't even notice that IL protection was turned off and assumed they'd get their entire value back and got giga scammed. That would be by far the worst thing that could happen and if that's true, Mark and his team are going to Israeli jail
>>49842370They saw that they were not going to be paid out in the token they LPed, but they are able to cancel the withdrawal. That they aren't doing that speaks volumes.
>>49842370when you click "withdraw" you get one final overview of what you will receivei doubt that there are people out there who would absent-mindedly just click withdraw without checking the detailsi believe they simply decided to lose 50% rather than lose everythingthe idea that what's currently happening is just a minor inconvenience and that everything will go back to normal once ILP is restored is hilarioushttps://etherscan.io/token/0x516c164a879892a156920a215855c3416616c46e?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8abank run on bancor LINK ongoingpeople don't give a fuck about losing 50%, they just want outat this rate they will have to go giga-kike mode and completely freeze withdrawals
>>49841865>well maybe they thought that a company would respect the contract and wouldn't steal their money? You know that if a company doesn't pay its debts they will be foreclosed, right? And you do realise that someone with that much eth will clearly sue them eventually.how is pausing IL protection stealing money ? Did you even read their announcement ? People can withdraw but they won't get IL protection. There's no deposits at all either which isn't really something a scammer would do. Also, it's temporaryhttps://blog.bancor.network/market-conditions-update-june-19-2022-e5b857b39336It's outlined here in BIP21https://gov.bancor.network/t/bip21-dao-multisig-intervention-policy/3504The users either already did or are in progress of voting on the IL pausing anyway. So like i said, if that millionaire guy knew all this and still withdrew his money at a huge loss then he's retarded for investing it in the first place because bancor isn't doing anything outside of what they've already told people they would do
>>49842183>nobody uses bancor for swapsGet automatically routed there by protocols like 1Inch>also people don't really give a fuck about ILPYou seem to care >paid in your hyperinflated shitcoinPaid in-kind (ETH for ETH and LINK for LINK)>you will all get what you deserveWe will and Celsius gets a class action lawsuit in the US. Bancor gets nothing in Switzerland as they were acting within their terms of agreement. kek
>>49840632Can I suck your wifes cock?
>>49842478>promise impermanent loss protection >snatch it away retroactively when you get caught with your pants down and only possess a fraction of the liquidity provided to you>H-HOW IS THAT STEALING, GOY!?Gradually, I began to hate them.
Bancor can really pay shills well with their users' money huh?No (you) for the future inmates
>>49842501>spacing>"kek"ah i see now you are getting paid per post spammedthere are no longer any quality standards, you just try to spam threadsdon't worry i know how to deal with kikes>The Bancor Protocol Whitepaper was first introduced on February 13, 2017, by founders Galia Benartzi, Guy Benartzi, Eyal Hertzog, and Yudi Levi.
>>49842560Holy shit those names have noses so big they don't even need a comma
>>49842580Excuse me,>holy shit Hertzog those names have noses so long Levi you don't even need commasSorry for my shitty grammar guys
>>49842580these names are the ones you don't even need to bother with the early life sections
>>49842560>Galia Benartzi, Guy Benartzi, Eyal Hertzog, and Yudi LeviI won't deny they are a bunch of kikes, but this time they kill off the bigger kike.
>>49842610yes and they will go down with them lmaoworks for me, the more dead kikes the betternot so much for you bancor shillsmaybe the ones who are legitimately invested will also follow them to the grave once they realize they lost everything"kek"
>>49842478mark pls>how is pausing IL protection stealing money ?are you seriously this retarded? if i make a contract with you to take your money and give you money + interest back whenever you want, and when you come to ask your money I only give 50% back, and just say "aaah sorry bro you can either have this or some more in a later, idk when but don't worry I totally have it all really, you'll get ok. but can't really tell when, and you might get it in a monopoly money i drew myself". >there are no depositswho in their right mind would deposit there lmao??? >bancor isn't doing anything outside of what they've already told people they would doapart from the very service that they promised to the users to get them on their platform in the first place.
>>49842553don't you ever read the fine print of anything ? You just hand over millions of dollars without reading the conditions of what you're investing in ? They're not taking or spending people's money. I've never even owned any bancor but you guys are retarded lol
>>49842478>https://gov.bancor.network/t/bip21-dao-multisig-intervention-policy/3504>add a clause that you can do whatever in any moment and then ask if it's ok from the rest on a further date>muh daoI'm not surprised that there is still no dao vote on the decision to stop withdrawals
>>49842728>they don't take or spend other people's moneyWHAT THE FUCK?! please tell me you're not willingly this retarded. Do you think those yields come out of thin air and all these CEXs have been having the same issues getting liq'd with locked liquidity. THEIR CUSTOMER'S LIQUIDITY.YOU FUCKING RETARD
>>49842651i've never owned any bancor you dumb nigger faggot. I don't want any of your stupid bancor. I think bancor is gay as fuck. Learn to read and you won't have these problems you're having
>>49842437Bancor won't go bankrupt with IL protection turned off even if everyone removes their liquidity.It would dump the price of their token but a whale could buy it for a low price to dump on the next bull run.
>>49842769>Bancor won't go bankrupt with IL protection turned off even if everyone removes their liquidityyou know it's really funny interacting with kikes in times like thesethey are so used to lying their entire lives, they will continue to do so even after the gig is upthey physically are unable to even feign honesty, they just keep lying to your face in the most cringeworthy manner imaginableto any human of any other race this behavior would disgust them to the very core, but to the jew this is reality. it is his DNA. he is merely tricking the goyim in accordance to his kike nature. he isn't doing anything badthat's why they genuinely get surprised when they inevitably get huntedit has happened on any civilization they ever infectedhow fucking delusional can they be to not expect it to happen again
>>49840478VC funded projects are usually contractually obligated to make their funders whole before their users. This is why Venture Capitol should be avoided in this day and age. They probably have an NDA with whoever they shot themselves in the foot for. So there was no way He could tell you the truth in the first place. The question is whether the malicious shorter is Celsius or the VC fund that gets to rape everyone in the fucking ass anyway. Or maybe they're both the same person! fucking kek.
>>49842855Checked, based, redpilled.
>>49842743>>49842758why is noone in their forum complaining ? It's just you fags crying about it. It probably takes some time to put together a dao proposal, it was only paused 15 hours ago
>>49842948Idk go ask them faggot I'm here
>>49842948https://www.reveddit.com/v/Bancor/
>>49842948Their forum is probably fake anon. The forum users were probably paid pajeets and interns. But people crying? you got a Link? Oh yeah that's right, None of you have any Link anymore.
Is it really over for Bancor? Like this is the end?
>>49843015BAHAHAHA would you look at thatIt's almost like these voting systems are all fucked and don't work>why don't you make a proposalThis is why.
>>49843015>https://www.reveddit.com/v/Bancor/The reddit jew strikes again. It's almost like they all work together as a cohesive group to fuck over goyim.
>>49843029>None of you have any Link anymorehey man what the fuck no friendly fire
>>49843047Would you stake with them after this? Make sure to share some of those gains with Solend while you're at it
>>49843047Just ask yourself if you would feel comfortable LPing on bancor after this. I think that will answer your question.
>>49843090sorry
>>49840623But where can i buy it from now? Theres no lpl liq on uni last time i checked.
>>49843090>https://www.reveddit.com/v/Bancor/>friendlyNot your keys not your Chainlink. You faggots were warned. We're not your friends, you made a shitty deal with the jew and now you cry about friendly fire. Enjoy being stabbed in the back.
did the spreadsheets since the bancor announcement (just 15 hours ago)~60k LINK already withdrawn~900k LINK in initiated withdrawals~160k LINK of initiated withdrawals cancelled165 transactions in 15 hoursnote that before this shitstorm, the "normal" was roughly 4-8 transactions per daywhat i get out of this situation is that people want to get out of there so bad, they are ready to lose 50% of their stacksthey have 0 trust on the platform and i can't say i blame them
>>49843015lmao and there i was wondering why the place is so dead with basically 0 activitythey ban or delete 95% of comments kekgot the jewish treatment
So when do I buy BNT? Will the minting stop? Is there a burn
>>49843260Where can I check this myself?
>>49840097Love to see an intelligent thread on /biz/ for once. Cheers to you Anon 6VU3IDld. Another ponzi bites the dust.
>>49840117lmao only 4 million, he is ngmi
>>49843636you can calculate it from etherscanhttps://etherscan.io/token/0x516c164a879892a156920a215855c3416616c46e?a=0x857eb0eb2572f7092c417cd386ba82e45eba9b8a
>>49843788Nice, is there like a tool you can use to check this automatically?
>>49840182And what if this is all Bancor fud so they/friends can collect the $4.2m and others? It’s not like that eth burned.
>>49840348they do that all the time, but US government is there to bail them out so they can't lose
>>49843833at the bottom right you can use the csv export tool to get the spreadsheets
>>49843842lol you still dont understand. that eth is gone. its a liquidity pool. people traded for it and therefore it was withdrawn. IT DOES NOT EXIST IN BANCOR ANYMORE. IT IS GONE.
>>49843260https://etherscan.io/tx/0x6d38c998556d28328dc56d9d707db9b1077e2b0ef5c56942c18f08250c237798last link withdrawal btw13k link, only got 7k backhe knew he would lose 6k link, but he didn't carehe chose to lose almost half his stack instead of losing everything
>>49843956Bet most of these people are people who started the withdrawals prior to the IL stop, and didn't see to stop it.
>>49843886Nice, how did you filter it from the original withdrawal contract?
This guy is in the telegram he just sold lolAre they really not even going to TRY to make user whole at all wtf is this
>>49843842>bancor has 100 ETH from LPs>they swap 80 ETH for BNT to someone using the protocol >people try to withdraw their ETH but now there is only 20 to give them back when they expect 100And before, the difference would have been made up in BNT, ideally a small amount beca withdrawals werent insane, but they have paused this. That's why people are getting half their positions back. Please tell me you understand now.
>>49844075They can't. They literally don't have it. It's how the protocol was designed.
>>49844034>and didn't see to stop ityou get a detailed view of what you are going to get before you click "withdraw"also they added a disclaimer in big red lettersit is extremely unlikely that even a single person withdrew without realizing what's happening
>>49841235Imagine the bank freezes your withdrawals, and when you call them, they say, "Let's see YOU build a better bank."
oh so that's what they meant by "Bancor Vortex"
>>49842241>in the end the only person _really_ losing is the user, alongside of the ego of marky mark.agreed and based>>49843193you can still buy LPL on bancor. i acquired a few hundred more the other day. bancor is fine to use for swaps i would say. i only use it to get more LPL since as you said theres no where else.>>49843260based spreadsheet>>49843679based>>49843842well i think we are past calling this all fud arent we? we were saying for days it would collapse and then they go and change the rules of the game
>>49842553I never understood how this is supposed to be IL protection. So instead of depending on one funny money token not going down, you just depend on THEIR funny money token not going down? It's just a bait and switch.
so can someone give me the basic gestalt on celsius definitively being big bad?were they putting there treasury in bancor?and now the collapse is on and people are pulling out of celsius so celsius needs to pull its tokens back out?
>>49844396celsius had link on bancorcelsius wanted their link backbancor devs decided that celsius made a good distraction for the goyim and started blaming themthere is also some """rumor""" about celsius shorting bnt, to this moment there has been absolutely 0 proof whatsoeverbasically bancor is trying to distract people from how their protocol failed organically (as a result of a bear market and people naturally wanting to get their funds back)they try to make it sound as if they suffered an exploit or a coordinated attack
>>49844396It's a matter of interpretation. Celsius put a huge chunk of treasury on Bancor and them pulling everything put the Bancor platform at risk. Then they shorted BNT at the same time knowing they would rek the platform by mass withdrawingBut is that "bad"? Isn't the whole point of a DeFi platform that it's big enough for whales to use it? Don't you WANT whales to use it? If you're not designing around worst case scenarios, in crypto of all places, then wtf are you even doing. This is notable in that it wasn't even a particularly hostile move. It's not like Bancor got in SBFs sights and he set out to destroy it. Celsius just got cucked elsewhere and then had to pull everything. I don't see how that makes them the bad guys in this case.Don't get me wrong, Celsius and all of CeFi are turbofaggots and terrible people, but just not in this particular case.
i cant wait for the next twitter spaces. people were being relatively cordial still in the last one, and allowing Mark to dodge their questions by spewing 10 minutes of nonsense after each question. Remember the Spaces two days ago? Mark speculated on the price of BNT and said 'the worst is behind us' and that he expected the price to stabalize. then less than 24 hours later they pause impermanent loss, ending the printing of BNT and stabilizing the price. this was the plan all along folks. like i said before, no bancor employee will ever be seen at a public crypto event again, it would be too dangerous for them and they know it
>>49844471>>49844485thanks anons.celsius was always a ponzi and overall market collapse causing them to try and not go under.im not blaming celsius, if anything it really shows that bancor should have deposit maxs so a whale pulling out can't collapse the protocol.damn shame, im down alot, but i only ever staked bnt...its still on there at the moment and im now in dollars at the start of v2.1 which is tragic. will bnt go to zero? i have 60k staked...
>>49844608BNT has been mooning ever since they paused IL. That’s because, unlike the people spreading FUD, the real investors understand that this move saved Bancor. If they hadn’t done that, the whole thing would have gone insolvent. This move saved them and the market is rightfully bullish on its value.
>>49844684BNT won't go to zero now that they have cancelled IL protection payouts, but it's almost impossible to envision how they would actually move from this to a position where demand for the token outstripped desire to gtfo the platform.
>>49844769>BNT won't go to zero now that they have cancelled IL protection payouts, but it's almost impossible to envision how they would actually move from this to a position where demand for the token outstripped desire to gtfo the platform.yeah, i guess i don't see it going to zero, but it not impossible. the question is how low will it go and will it ever recover?
It all makes sense for this constant Bancor FUD, right now there are 3 posts about Bancor and it's been going for the past few days.You don't see the same level of discussion for Solana and Solend or Celsius blocking withdrawals. The culprit is Celsius, they took advantage of Implementation loss to market sell BNT and simultaneously short BNT to make bank, now they are creating FUD posts against Bancor for people to panic sell.
>>49840280Bancor pulled a 180 and pulled back the only feature that made their protocol worth. Of course that destroys all faith
>>49841571thisthey either need a bailout or fold, but in either way they have no future after this. as soon as that ILP bnt gets released this house of cards folds instantly. they are trying to find a scapegoat from celsius, but celsius has absolutely zero involvement of how they built their protocol, and has actually done nothing wrong in terms of using their services. I hope they'll at least go out gracefully and fold their business to partly compensate the users (you know, like it would work in regular business world).
>>49844811>will it recoverThink of it this way. If Bancor didn't halt IL payouts then BNT would have gone into hyperinflation and the protocol would have simply died. GG. Game Over.This way they "saved" the protocol, but at what cost? Their main point of difference and unique selling point was IL insurance, and at the time when people needed it most, they turned it off. That is an insanely massive blow to their reputation, which was far from pristine in the first place given the slow delivery of v3 and the lack of clarity about how it was all actually going to work and be sustainable.It's not just a hit to the team, but to the twitter shills who were crowing about it being a nothingburger right up to the point that it happened, and above all to all the people they got on board who wanted "safe and IL protected staking" and who didn't end up getting either.They might be better off than dead, but not by much. How do you even begin to restore confidence after something like this?
>>49840182>heh, keep my $4m>I win
I withdrew my LINK and didn't get the full amount back and didn't get BNT compensation either. Why?
>>49844684clearly you will lose most of it. i'm sorry anon. this kinda shit just makes me so angry :´(
>>49844738no its clearly because they stopped printing MILLIONS OF BNT PER DAY. nice try though>>49844966they changed the rules - no impermanent loss until further notice. with jews, you lose
>>49844938they haven't saved anything...they pressed pause to try to get more time, but it will run out eventually. >>49844939>>49844966don't you still get it? they don't have it. they don't have your link, that's why you're only getting a part of it. that's why someone would pull out only 6 mil instead of 4 mil, bancor didn't get to "keep" the 4 mil, because they didn't have it in the first place.
>>49845055>don't you still get it? they don't have it. they don't have your link, that's why you're only getting a part of it. that's why someone would pull out only 6 mil instead of 4 mil, bancor didn't get to "keep" the 4 mil, because they didn't have it in the first place.How did they lose it?
>>49845055not disagreeing with that, anon, i mean "saved" in temporary terms
pic related is the latest LINK withdrawal. only 53.3% LINK. like i've speculated before, it seems to be dropping .05%-.1% everytime someone withdraws. people are soon going to have to make a choice if they want 40% of their LINK or to leave it on the platform.
Why are people picking the worst possible time to withdraw. Like objectively there isn't a worse timeI can understand a large company like Celsius because they need to be liquid right now but why are you removing your 1k, 10k stack?Literally the best thing to do is nothing and you can't even do that But whatever stupid people in the space is why I make money
>>49845066(im)permanent loss.
btw some people seem to get their stacks away, just not us. wtf wtf wtf, I bet they're pulling out their own money!!! reeeeeeeeeeeeeeeeeeee
>>49840097fuck jannies they suck
>>49845066impermenent lossand swaps
>>49845066>>49841571
>>49840632Post the tits of your bitch stupid fking faggot
>>49845139because in the end, there will only be worthless bnt left in the pool
>>49844034Cope 50% > 0%
>>49845155Have the big Celsius withdrawalsgone through yet?
>>49845139because you are low IQanyone who is in bancor right now has a genuine chance of losing everythingit is not a matter of "just wait bro xD" it is more of a matter of betting whether bancor will die or notbancor physically doesn't have the link for stakers to get out of there. a staker can only get out fully with the BNT minted from ILPbut they had to disable ILP because of hyperinflationand the percentage keeps getting lower and lower. right now it is 50%, soon it will be 30%bancor will not suddenly generate link out of nowhere when that happens. people will still want out. BNT will still by uber-printed
>>49844738They literally stole (i.e never going to pay back) ~50% of people's stacks. Of course the token is mooning in response lmao
>>49844738lol, one look at the order books shows it's only bots trading with some additional laddering from "someone". are you surprised that there's no downwards price action when a centralised entity confiscates the assets of the investors when they want to sell?
>>49845424OUTTA MY WAY FUDDERBNT IS CLEARLY MOONING+0.4% AGAINST ETHTOOOO THE MOON100$ BNT EOY CONFIRMED^average bancor shill right nowi don't even reply to them, perhaps some of them get paid in (You)'s
>>49845487Crypto markets in general are well off the lows and have clearly found their bottom. Support has been reestablished and the markets are trending upward in response. Zoom in and you will see the recent growth, that will continue now that investors are confident that Bancor v3 is in fact a survival story. I don’t see what’s so controversial about any of this, really.
>>49840632faggot lol
>>49845656imagine being this delusional
>>49840697yes instead of the people of the companys stealing money from you, let the government do it! great idea redit!
>>49840381it was tough lasting an entire bull market as fags yelled REEE 20% and REEEE LP IS FREE MONEYbut we always have the last laugh
>>49845656nigga what crypto markets are you watching?
>>49843922>>49843922So you’re saying Friends of Bancor/Carlotta have it.
>>49845656>zoom inTOP FUCKING KEK>I don’t see what’s so controversial about any of this, really.bancor employee confirmed. Hi rick, hi mark. See you on the twitter space tonight. im going to download the twitter app specifically to speak with you. looking forward to it
>>49845718Bancor had two choices: print BNT to hyperinflation or take short-term reputation hit for long-term stability. They learned the lessons from LUNA and opted for the latter. ETH had a hard fork in 2016 and their reputation has only thrived ever since. I see this as Bancor making the mature decision and saving the protocol. This only gives investors more faith in its upside potential.
>>49845788checked. you knew in your gut that something was wrong with it. always remember times like this were you are proven right / vindicated.
>>49845941Yeah I’m sure that all the guys withdrawing now and losing 50%+ of their stacks are really going to trust Bancor in the future
>>49841198>decentralized
>>49845941>take short-term reputation hit for long-term stabilityyou are delusionalbancor physically doesn't have the assets to repay people properly and they will never have them
>>49846067There are two goons in the telegram that are saying the same thing
>>49845941>bancor had two choices>print BNT to cover impermanent loss, one of the only reasons people chose to trust them with their assets>or, change the rules mid game
>>49846067Who has Bancor not made whole? If you choose to withdraw when your position is down, that’s your personal decision. Anyone continuing to hold will be made while once Celsius has withdrawn their position at a loss. It’s a tough situation but Bancor passed the test, have they not? What wrong has been done here? The recent upside in the price of BNT reflects this optimism.
>>49845066If their counterparties actually come through, they won’t have lost it. And they’ll have taken the haircut from their LP suckers for themselves. We can say that they’re scamming, but Bancor won’t respond by saying that the counterparties are bankrupt, even if they are. Those are their true clients.
>>49846209>not made wholehello ranjeesh, you need to make your vocabulary a bit more natural sounding
>>49846029its a DAO, everyone is in agreement here - fuck Celsius
>>49845719if a govt did what bancor is doing you would literally see politicians hanging from lamp posts
>>49844838fuck off mark, your protocol design blows dick
>>49846312>everyone is in agreement hereyeah everyone in israel maybelmao retard
CLU niggers get the rope
>>49840182
>>49846348>should be a short term scenariothat's the sort of statement you could make in mid-air after accidentally driving off a bridge
squids got genes is a massive cringe faggot and his fat mom pegs his asshole
>>49846209>>49845941>The recent upside in the price of BNT reflects this optimism.oh yes, I'm sure the upside has nothing to do with bots trading based on btc price action with minimal liquidity, while bancor employees make ridiculous claims in a taiwanese cartoon forum about the "upside in the price”, which is the result of a centralized entity confiscating the users assets when they want to sell. all those "massive" sell and buy orders really boost my confidence. oh yeah, pic related.
>>49844738>advertise as decentralized>halt services to "save" peopleok buddy lmfao
>>49846209this is literally rick barbor from bancor. you made the same argument on twitter, to no avail. see on the twitter space tonight buddy>>49846348KEK
>>49846246To “make whole” means to fulfill your end of the bargain. This is basic English. Your ignorance only reinforces the intellectual capacity of those who blindly spread FUD on Bancor, though. We can all read what you’re typing.
bancor shills right now
I‘m happy all the CeFi niggers are getting their asses raped.Go to poorfag Hell CeFi Niggers!Fuck Celsius, Fuck that Whore Jessica and Mashinsky KikelFuck Bancor, Fuck the Bancor Jews with rusty nails through their short circumcised Jew dicksFuck Nexo, Fuck that Bulgarian Carpet Salesman and his Kike Brothers these Niggers will burn in Hell forever the fucking shitstain subhumansFuck all the retarded Dumb fucking NIGGERS who lost their LINK in this CeFi shit, you dumbass Niggers got warned so many times and here you are waiting for your tokens and instead you get NOTHING.To Hell with all these CeFi NIGGERS!DIE ALREADY!
>>49840097To be honest... after the news the coin didn't dropped. Actually the measure was to protect the value of the token among other things. I see it as kind of bullish for the token at least, I even bought some lol.
>>49840097based, warned and checked frenDid I do that right guys?
this whole situation is a lesson in "don't invest more than you can afford to lose". i put less than 10% of my link stack in the protocol knowing full well that a black swan type event could wipe me out. pulling liquidity now feels akin to selling the bottom after a massive dump in the market so i'll just wait it out. if bancor devs can restore confidence in the protocol (not over the course of days or weeks even, but months/years) then great, if not then i talk a small haircut on my link stack and chalk it up as a lesson in risk management.
>>49840117Wait a minute. I thought Bancor only had about 4.5 million Link on their entire platform.How much is left after this withdrawal?
>>49846499You have not refuted any of my original points. Bancor saved their token from hyperinflation because they learned the lessons of LUNA. The price of BNT is recovering off the lows. Bancor has been responsive to the community and will restart IL protection once Celsius is gone. There is only upside here.
>>49846691well theres more jewish trickery at play. see here >>49845137slowly but surely people are getting less and less % of their LINK back. soon it'll be 50%, then less, and less. the v3 master vault only has 4m link
>>49846067>bancor physically doesn't have the assets to repay people properly and they will never have themyou actually don't know this as a statement of fact, but based on what we are observing its definitely possible.bancor i am guessing for sure has its own treasury(150 million ICO @400 eth) that is not tied up in the the protocol. They would be retarded to start selling into a -90% market to save LP's that are pulling out into insane weakness.
>>49840097Is this an issue on v2 or only v3??
>>49846815you haven't made any point. you're a bancor employee and you'll never be able to show your face in public again. congrats. Bancor said one thing, did another and here you are defending them
>>49840762>>49840860>>49840979>>49841198>>49846312Literally kill yourself CLG.A DEX is a DEX is a DEX, I don't give a shit about (((((((((((((((((((((((((protection))))))))))))))))))))))))), especially if it's protecting the survival of their shit protocol. If you like this way of operating then go back to the BoomerFi FIAT world, retard.
>>49845137I've heard that some people trying to withdraw unavailable eth on Bancor got their entire withdrawal in the "equivalent" of BNTThat's probably going to happen to the last Link holders who choose to withdraw.
Is there any way for Bancor to pull this out? No one is going to deposit more liquidity after this whole fiasco, and people are happy to take a 50% loss to avoid a 100% loss right now. Obviously these kikes aren't going to spend any of their treasury to bail out retail, but if they turn ILP back on BNT will death spiral and they still wont have user faith.The only possible saving grace is that they have like 90% of the LINK liquidty on DEXs, if LINK giga pumps maybe people will take some profits and enough LINK will re-enter the pool to allow people to get out with their deposits? How tf do they change a smart contract while it's up and running too?
>>49846868The entire post was making a few basic points to dismantle the FUD being spread. The great thing about having this discussion in a public forum is that everyone can see which side is making the stronger arguments. I am arguing from fact and you are arguing from emotion. The second that IL protection is back, your argument falls apart in an instant. The record will show who is in the right.
>>49846844>they would be retarded to give people their money backSo true schlomo
>>49846992the second il protection is back, bancor is done any fucking ways. no one is going to stay with them after this. bancor likely will never turn it back on because they know this. they're going to skim what they can and exit.
>>49840097Too soon?
>>49847120Did people stay with ETH after they had a hard fork in 2016 because someone found a flaw in the code that allowed them to hijack people’s wallets?
>>49846872meds
>>49847254If you're not him end yourself even harder.
>>49847154>comparing eth hack to bancor over reach false equivalency you dumb dumb. and eth did crater 90% after returning stolen funds.
furthermore, ccip makes something like bancor completely fucking obsolete. they will absolutely exit scam.
>>49847353ccip will make maybe 80% of the space obsolete kekthat's why they hate it so much
>>49847007look, i have alot of bnt, i want this thing to recover more than anyone cause i'll be fucking rich...there is no data either way though, it really is possible they have no fucking treasury to fall back and this really is the end
>>49846872chill.a million DEXs all do the same thing. why choose one over the other? features, trade fees, liquidity.feature of ILP was one reason. it's not anymore. now it sucks.
>>49847353not exactly, ccip doesnt make token exchanges and trading irrelevant, it just makes keepers easier to get and out of
>>49846815Celsius unironically has better odds of survival than Bancor at this point. Celsius dying would also have a much bigger negative impact on broader crypto markets than Bancor dying. If I have to chose between one of them going caput, it's Bancor that's getting axed.
>>49847473>Here, take our ponzi token as compensation for the """"impermanent"""" loss>>>/twitter/>>>/reddit/
the Chainlink youtube uploaded some fireside chat with Mark Richardson only a few days ago, and now i cant find it on their channel. they deleted it.
>>49846844> to save LP's that are pulling out into insane weakness.You make it sound like the LP are panic over the price of eth and link and want to sell it.They just want their eth and link out of bancor.
>>49846522Like a sore thumb
>>49847777nobody wants to be associated with filthy kikes
>>49846522He wasn't saying he doesn't know what it means. Your shit is just retarded.
>>49846479>not permissionlessCheck m8 chud. I can't believe that maxipads were right
>>49846856both by extension. v2 withdrawals are cancelled, you have to migrate to v3
>>49847777heres the proof. did a google search for "twitter.com/chainlink mark richardson"
>>49840918>shouldnt ofkys
>>49847961click on the cached Smart_contract link, and you find the tweet about it
>>49847777bearish and correct
>>49847981and heres the youtube vid. UNLISTED ON THE CHAINLINK YOUTUBE>https://www.youtube.com/watch?v=B2mVaPFFdoE>>49847982ill find you and you'll regret that
>>49847981i watched the whole thing and can confirm that it was online yesterday, deleted in the last 24h
>>49847154>>49846992well this is not "flaw in the code", and also not comparable in any way because we are talking about fundamental ponzinomics and not about the world’s second biggest blockchain. If you want to talk about "basic points", here are a few:bancor business model is based on unsustainable printing on their governance token bnt to cover the users IL>If you have a BNT/ETH pool, and BNT goes down, they give you more BNT because your BNT went down.>Then you sell the BNT to recoup your "impermanent" loss and that creates more IL for others and then Bancor just prints more BNT to cover them too.bancor blames celsius as the evil big company that is destroying them>bancor accepts a huge amount of liquidity from a single client>bancor profits from this liquidity via rising activity, fees, etc>the client decides to withdraw their liquidity>bancor blames tries to make the public believe it was all evil celsius’ faultwhile you’re at it, could you also provide some proof that celsius is shorting you on ftx, or wait, was this just a desperate try to envoke some kind of “short squeeze” hive response? this is not reddit and you’re fucked.
>>49845137That's just it, it's not there. They have maybe half the LINK that has been provided, and that's probably a generous estimate. If you choose not to withdraw, you're assuming they can obtain that LINK in order to make you whole. How are they going to do that? They have lost all trust. They got BTFOd by a flaw in their ponzi scheme, they fucked over their LPs and no one will ever LP with them again.
>>49848044checked, agreed. im just glad this is happening before staking is released, which of course makes me think Ari-Bane is behind it as usual. and thats a good thing
>>49846815>Bancor saved their token from hyperinflationNo. They only delayed it.>Bancor has been responsive to the community and will restart IL protection once Celsius is gone.Is that why people take a 40% loss? Do you actually think people are going to trust Bancor ever again after this fiasco, if it even survives at all? There are people who are going to kill themselves over this. Bancor has blood on their hands. Screencap this.
>>49840891MUSICALCHAIRS
>>49847777holy checkedit must be hard being chainlink doing everything you can for the space to succeed and everyone else cant help but fuck things up at every opportunity
>>49848188checked. also agreed. they'll never be seen at a public crypto event again, and they'll have their head on a swivel when they go grocery shopping. for the rest of their lives.
>>49846931>Is there any way for Bancor to pull this out? No one is going to deposit more liquidity after this whole fiasco, and people are happy to take a 50% loss to avoid a 100% loss right now. Obviously these kikes aren't going to spend any of their treasury to bail out retail, but if they turn ILP back on BNT will death spiral and they still wont have user faith.This is 100% correct. I don't think people realize the scale of what is happening here. It's only a matter of time.
>>49848230get-rich-quick retards don't have it in them to do anything unless you can show one crypto scammer yeeted by an angry baggie
All the people crying Bancor are done, they will never recover, who would use them again. They literally got hacked by themselves and then froze funds despite claiming to be decentralized and here we are four years later with 200m+ TVL, people have short memories and the like the coin, they also like that the team
>>49848230You're right. Though this time it seems more due to their own incompetence than outright theft like a Do Kwon. If they were going to fuck someone, it should have been Celsius by preventing their massive withdrawal, not the LPs that have stuck with them for years in some cases. >>49848273Let it sink in, there are still people in this thread who don't get what's happening. This is going to send shockwaves through the whole space.
>>49848363>>>49848230>You're right. Though this time it seems more due to their own incompetence than outright theft like a Do Kwon. If they were going to fuck someone, it should have been Celsius by preventing their massive withdrawal, not the LPs that have stuck with them for years in some cases.That is what they have done, they said if you can give us time, we will fuck celsius and make you whole, please just be patient
>>49847309ETH cratered 90% and then recovered to all time highs. That’s exactly the point. Bancor will take a short-term haircut here (actually that already happened since BNT is mooning now) and they will reach new highs once this all blows over.
>>49848446>BNT is mooningWhat chart are you looking at?
zoom in
>>49848335They made people whole after that hack. They have no plans to do so this time, even if they were capable. They're on twitter right now telling people to suck it. Who would LP with them after this? Couple this with their other issues, like how no one uses bancor to swap and the laughable APY now that mining rewards have ended, and no one will take that risk. >>49848417It's too late, Celsius has already raped their assholes, now they're shitting blood. They signed their own death warrant when they allowed so much single sided liquidity to be provided by a single party.
>>49848273i promise you all the have to do is wiat for the next bull run and every retard will forget. Just like when people on here were saying bancor is fine dont worry.
>>49848446ETH was and is a network with many use cases in a bull macroeconomic cycle. BNT had exactly one purpose, and now it's gone while we head into a global recession. Prospects of survival are not even remotely similar.
>>49848273it would barely mean anything, but i suppose if they really wanted the protocol to "continue" for whatever reason, they could announce the complete cancellation of IL protection, with bancor becoming an AMM that offers no such perk (including current providers)legally speaking it is extremely debatable if they would even be able to get away with thisit would be breech of contract and false advertising. but it is crypto (and self-proclaimed defi) so im not sure how likely it would be for them to suffer legal consequencesbut even if they got away with this, bancor would just be droppedwith their userbase losing everything, with their main selling point revoked, with close to 0 liquidity, i don't see any future for it
>>49848511Nah, they've been exposed. Bancor was fine when it was a bull market and everything was going up and withdrawals are low, but this was bound to happen in the first bear market. It's simply the way it was designed, the first major withdrawals expose and facilitate a death spiral.
3000 fucking linkies locked up, either I take a massive haircut or wait to see if it all gets liquidated. What the actual fuck do I do now. I thought bancor was safe
>>49840280cope
UH OH STINKYYYYYYYYYYY
>>49848603>Nah, they've been exposed.greed will rope them back in.
>>49848620>50% or 0%>wat dogee I dunno, tough choice
>>49848152
>>49848446>that's exactly the pointyou missed where i said you absolutely cannot compare the two. tie in the fact that ccip largely threatens what they do and it's game over.
>>49847777they unlisted the videohttps://www.youtube.com/watch?v=B2mVaPFFdoE&t=1s
>>49848668I'm not sure if you realize, but bancor isn't going to survive this. As soon as they turn on ILP again (assuming the actually do) it will hyperinflate. If they don't, then they've essentially stolen LP's tokens. Either way, it's going to zero. Why do you think there is no BNT to short?
>>49846931>Obviously they aren't going to spend any of their treasury to bail out retailyou don't get, it they don't have enough treasury to bail out retail. they have ofc been profiting from the platform for years, but none of that money is the company's money once it leaves it. they are either going to fold and a it's going to be a musical chair-event, or they will simply not put the IPL back on and go for court for years with the remainder of their liquidity. The best way out of this would be that the LP's vote against the ILP stop when they will have to put it up for the dao vote. like that the users get at least a bit more than the would otherwise.
>>49848335All I'm reading is >the goyim are so fucking stupid we'll fuck them over next cycle
>>49848511Imagine you had 10M in assets staked at Bancor. Would you safeguard 5M and take a 50% cut or would you wait it out and take the risk to lose everything? Knowing that every week, day or hour even that you wait, the amount you are able to pull out gets smaller and smaller. Knowing that once ILP is activated again, BNT is going to hyperinflate. Knowing that the only thing that made Bancor worthwhile (ILP) isn't a guarantee anymore. I know what I would do. Read: >>49848566>but even if they got away with this, bancor would just be dropped>with their userbase losing everything, with their main selling point revoked, with close to 0 liquidity, i don't see any future for itYou'd have to be real stupid to continue using Bancor after this shit show.
>>49848804This should be handled as a liquidation event. The entire protocol should just be cannibalized and divided up proportionally to the LPs. It's the only fair thing to do.
reminderthe people trying to calm you down and give you hopium on bancor are the exact same people who posted things like this
>>49848852agreed, but obviously they have their own money staked in the protocol, so if this would happen, they both loose a cash cow and some of their holdings. it would be the only honorable thing to do though, it's not like they have a bright future.
>>49848875They hate you, you are stupid insects to them. Also they try to fit in by calling anyone who disagrees with them redditors. Always remember, WITH JEWS YOU LOSE
>>49845155People should really demand an explanation asap for this one
Just put my stack into the cooldown period, probably going to get fucked. Please pray frens
>>49849112rip
>>49849088nvm, he did take the IL hit. No BNT on today's transactionhttps://etherscan.io/address/0x6bd6dba6c7da9fdfbe3cc6fc7b2df97670d04a30#tokentxns
>>49848846in two years when we have the new retards they will used the protocol. look at doge, and everything shitcoin
>>49849148It was only a small part of my total holdings but it still stings
>>49845155>>49849088>https://twitter.com/LinkSemper/status/1538957697973997568?s=20&t=G3aRfGV2MuNWkANAUODdsgKek, here was his response. Flimsy at best.
>>49849477why would you even ask such an antisemitic question. reported for hate speech.
>>49841642Yeah, and UST will regain its peg lmao
>>49849477was that picture an example of a person getting their entire stack back?guy got just a little bit over 50%
>>49842047Really hope you're right fren. I'm going to bite the bullet and stay with bancor come what may
>>49842048
>>49849899ah know i get this "make whole" spamthey're trying to force a slogan, like "bancor will make you whole" from their marketing deptno wonder some shills were casually using this phrase in such an unnatural way
>>49849641Correct, but some people are getting all or most of their stack. It seems to be smaller positions that are making it out intact.
>>49850018kek id go a step further to say its litteraly Rick and his team on here using that phrase. Mark admited in the Spaces yesterday that in order to gauge if people were serious about withdrawing or just starting the 7 days as a precaution, he visited 'messageboards' and determined that people were very much intent on withdrawing. then he paused impermanent loss soon after.
>>49850028>It seems to be smaller positions that are making it out intact.well 2 days ago someone posted a tx of a guy who tried to get 55 link back, he only got 33 (rest in bnt)though maybe very large positions are more prone to losses, some ETH guys were basically at 0%
Was the shilling of BNT organic? I am 100% LINK and the effort to associate the two on here was very strong for a long time. I’ll not pretend I’m smart because the only reason I never put my stack on there was that the pool was closed and the cost of gas. Thank god for that
>>49850106Well the guy was honest in that it depends on what pool you're in (they may have 25% of the LINK but only 3% of the ETH, for example). There could be something else going on in the backend, but I think the first anon's implication was that the bancor team was getting out their own stacks with no IL, while others were getting half.
>>49850112yes there was massive shilling42 was the most notable, chainlinkgod (assuming he's not 42) also advertised bancor last yearbancor basically offered the best APY on LINK in the market so they tried really hard"""linkies""" pretending that owning a 1:1 bnt/link stack was the norm, shit like that. at some point they even pushed a LINK/BANCOR/ARBITRUM thing, they abandoned it very quickly thoughthis behavior regressed as LINKs APY on bancor was gradually getting loweralso bancor shills were getting notoriously more aggressive as time went on, eerily similar to those BSC pajeets that have a mental breakdown if you say you will sellonce i noticed bancor shills calling people "retards" or say things like "enjoy losing your money" when people talked about getting out of bancor, i knew it was over and got the fuck out
>>49844838>oy vey, it's anudda shoah!
>>49850235Lmfaohttps://twitter.com/chainlinkgod/status/1538721728624373762?s=21&t=5hDtevDk4gufsB2Suimdig
>>49850310he did the same shit with DMG
>>49849899hmm made whole but splitbut something split is by definition not wholeif i split a rock in two, it is no longer wholethese word games is making my head spin!
this industry collapse is a beautiful dance of musical chairs
>>49850349now you read the fine print after you get fucked lmao?
>>49850235>so bancor shills were getting notoriously more aggressive as time went onto add to this, bancor shills were initially rather harmless and politethey simply explained the mechanics of their platform, why ILP is great, the APY, the 100-day thing, how to get in, etcas time went on this died as a conceptthey became ridiculously hostile, especially in this yearbancor threads felt increasingly similar to those obvious coordinated BSC threads, people voicing concerns were insulted or disregarded as "FUDders" without any elaboration (in the past they would at least try to defend their platform with actual arguments and no hostility)eventually the very idea of getting out of bancor made them seethe with rabid rage, you would get called a retard, be made fun of for making them richer, etctldr you could smell the curry from a mile away
>>49850384>after you get fuckedmy stinkies are safe my man, im probably the most risk averse boy in crypto desu
>>49850215exactly, this looks absolute like favouritism where selected people get their full stack while most get the stick.
>>49850235>>49850401the funny thing is, assuming its NOT a ponzi (which we know it is), the shills should actually support people withdrawing, logically, because their yield as liquidity providers would go up!
>>49850349yeah, and also the halt of withdrawals is temporary, but because we don't know when it ends, it is also permanent at the same time. the crash is taking a surprising metaphysical turn.
Are the jannies deleting link posts?
we hit the bump limit boys. NEW THREAD>>>49850665>>>49850665>>>49850665
FTo the link marines who were shilling this posting the apys a few weeks ago
>>49844738Are u dumb... Thats because all the selling pressure from printed bnt to cover il is removed. Everyone who pulls out would instantly sell their bnt to make up the rest of their stack, now those people are not getting that bnt so less is being dumped.
>>49846209Unfortunately this has only just started. There was just an eth whale to withdrew 10k eth at a loss of 5k. Thats a bad sign for its trust. People trust it so much that they are willing to lose millions to at least get a part of their stack back
>>49851768>>49851874based fren, hop in the new thread >>49850680