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28961557 No.28961557 [Reply] [Original]

https://blog.bancor.network/using-bancor-vortex-46974a1c14f9

>> No.28961875

describe in your own words how it works

>> No.28962264
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28962264

>>28961875
>spoonfeed me

>> No.28962577

>>28961557
this is link level comfy

>> No.28962676

>>28961875
if you stake X amount of BNT, they give you X amount of vBNT back, you can then sell the vBNT for eth or whatever and go buy something else and make profits while you are earning fees and rewards on your staked BNT. so basically money you put aside to stake and earn interest on, you can also use to trade, or stake, or whatever you want to do.

>> No.28962715

is this why AAVE is crashing? This seems very similar to AAVE

>> No.28962743

>>28961875
it's built-in AAVE - borrowing against your staked assets (using vBNT) to stake in other pools and accrue additional yields while your original assets stay put

>> No.28962785

>>28962676
so its like margin trading essentially?

>> No.28962841

>>28962676
thats basically a free crypto loan. no more high borrow fees.

>> No.28963066

>>28962785
>>28962841
>>28962715

yeah, its aave without having to overcollateralise, its just 1:1. and you earn fees+rewards on your collateral. idk if aave does that.

>> No.28963208

>>28963066
sounds like a great way to go long unless bnt pumps harder than your long position

>> No.28964016

>>28963208
thats a big IF right now isnt it? BNT is picking up some normie steam it seems like and its holding strong against dumps

>> No.28964183

>>28961557
But how much gas does it cost?

>> No.28964487
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28964487

I know you are aware jigstack is a better coin than this shit

>> No.28965467

>>28964183
Same as staking / swapping anything else.
>>28964487
shoo shoo pajeet

>> No.28965617

>>28961557
when does BNT/vBNT pool opens though, I want to be first to jump in

>> No.28966035

>>28961875
Your staked BNT becomes collateral for vBNT, which you can stake/sell/arbitrage while your BNT farms.

>> No.28966065

If I stake my vBNT in the vBNT/BNT pool, do I receive rewards in vBNT or in BNT?
And does it take other vBNT that I have to get somewhere to unstake my staked vBNT or nah?

>> No.28966146

>>28966065
BNT to first one, no to second one, you only need vBNT to unstake BNT

>> No.28966226

>>28965617
It's already full bro. You're too late.
They'll vote on increasing the pool size soon.

>> No.28966235

>>28964016
This. I feel it's much safer to collateralize with solid coins like LINK on AAVE and borrow stablecoins, instead of taking the risk of having to buy back BNT, or simply being unable to because of price

>> No.28966388

>>28961557
is bancor just yield farming? why should I use it over platforms like blockfi and celsius?

>> No.28966739

>>28966226
Why doesnt it show any rewards?

>> No.28967078

>>28966388
its decentralized. all sort of things can happen to blockfi

>> No.28967187

>>28966739
vBNT/BNT doesn't have liquidity mining. You'll get a chunk of the swap fees for everyone who uses the pool.

>> No.28968366

>>28967187
almost seems more profitable to switch it to stablecoins and put them in pool then

>> No.28969214

>>28968366
Sure, until Bancor does a 2x, which makes the price of vBNT also do a 2x.
Now your stablecoins are no longer worth enough to unlock your stack.

>> No.28969424

>>28969214
unless you have farmed enough bnt meanwhile

>> No.28970044

>>28969214
yeah but can eventually convert your other crypto when you decide to unlock it, and dont really lose anything by doing that

>> No.28970733

>>28969214
why is that a problem? are you using crypto as a get rich quick scheme?

>> No.28970994

WHAT THE FUCK WAS THAT

>> No.28971159

guys, i thought it through. this means some funds are going to be locked forever together with their rewards as soon as bnt pumps hard. it will become more scarce and price will increase even more. the more i think about it the more it becomes a trap. this could cause some serious feedback loop

>> No.28971805

>>28971159
So what u mean is BNT price = up