BNT

[Anonymous No.29859873]

Redpill me on Bancor biz. Seems to be concerns about upcoming votes? How safe do you think it is?

[Anonymous No.29860163]

It got hacked in 2018.

That's everything you need to know to evaluate yourself.

[Anonymous No.29860214]

bancor is turning into a full time job of constantly voting down shitty proposals. oh and every vote costs like $300 in gas fees. top kek

[Anonymous No.29860841]

>>29860214

[Anonymous No.29861043]

>>29860163
didnt know that ty
>>29860214
whats the deal with that, i see people blaming pajeets i dont think they can afford that?

[Anonymous No.29861124]

>>29860163
There have been >5 audits done since july 5th 2020

Bancor invented the AMM protocol that became Uni, sushi etc etc

Lend got hacked (now Aave), Maker got hacked, Eth got hacked (remember the first DAO?)...list goes on

LINK whales trust >110m worth of LINK on the protocol, not to mention the other ~400m+ worth of "trust" on the platform.

[Anonymous No.29861153]

>>29860214
Literally just paid $10 to vote. You sound like a poor newfag.

[Anonymous No.29861277]

>>29861043
It's a no brainer to stake your long term holds on bancor if you can get into a pool. Rewards are still crazy

[Anonymous No.29861280]

>>29861124
Good points. I have heard they put out alot of expensive bug bounties. Where can i read about whales putting link in? Interested in putting a fair bit in but obviously worried about losing it all.

[Anonymous No.29861348]

>>29861280
>Where can i read about whales putting link in?

No need, you can see LINK has ~220m worth of liquidity on Bancor. Half of that is LINK.

[Anonymous No.29861474]

>>29861348
Right but i dont care about people putting a couple thousand in. Im interested in 5-6 figs of link from one person.
>>29861277
by pools you just mean link/bnt eth/bnt right? Link pool says 0 space available so i just need to watch and wait for that number to open up?

[Anonymous No.29861583]

>>29861280
Whales are putting LINK in because Bancor is rewarding them for it. They'll prolly leave for canonical YAX once liquidity mining rewards run out.

[Anonymous No.29861637]

>>29861474
I'm a dolphin and I put that much in because it pays well and keeps my stack intact, there's not much more to it really

[Anonymous No.29861665]

>>29861474
Bro there are whales on Bancor with 7 figs of LINK staked lol 5-6 figs is nothing. Obviously I can't look into their pool to see who has what, but you think with over 100m worth of LINK added to the protocol, no one has 5-6 figs of LINK in their? lol cmon

0xb1 (biggest defi whale known) uses Bancor...
https://etherscan.io/address/0xB1AdceddB2941033a090dD166a462fe1c2029484

[Anonymous No.29861744]

>>29861665
he also uses serial exploit victim cream every day

[Anonymous No.29861773]

>>29861583
>>29861637
Of course, rewards are great and I want in while theyre high but you guys arent worried about a hack or anything? also this? https://www.coingecko.com/en/coins/yaxis

>>29861665
thanks for source. you guys got me pretty sold

[Anonymous No.29861779]

>>29861474
Yeah you'll have to get lucky and check right when someone pulled out or pay attention to when they open up the pools more. If you know you're holding link/eth/wbtc or other blue chips for longer than 100 days you're missing out by not being in the pool and gaining fees in link and rewards in bnt.

[Anonymous No.29861912]

>>29861744
cream wasn't exploited in their latest fiasco, the exploit was 100% on alpha homora's side

but you probably knew that and enjoy being disingenuous for fun, dont ya?

[Anonymous No.29861926]

>>29861779
So the imperm loss thing. If the value of the assets diverges too much from when you started you could end up with some bnt instead of link?

[Anonymous No.29862033]

>>29861773
everything comes with a risk in crypto my man. there are worse places to keep your LINK stack than Bancor to put it one way. keep your eye on yAxis, they're working on a LINK vault that'll blow Celsius out of the water

>>29861912
lol they actually got exploited AGAIN you missed it

[Anonymous No.29862145]

>>29862033
Of course thats how i got this far. Just wanted to make sure this wasnt too risky, some of the defi stuff looks p sketch. also this seems to good to be true which is a red flag usually lol

[Anonymous No.29862150]

>>29860163
Kek imagine thinking hack kills crypto project. 3/4 of them were probably exploited at some point

[Anonymous No.29862182]

>>29861926
https://blog.bancor.network/beginners-guide-to-getting-rekt-by-impermanent-loss-7c9510cb2f22

[Anonymous No.29862290]

>>29862145
This is exactly the right level of good to be true

[Anonymous No.29862621]

Retard here. In the case of link, wouldn't the pools on bancor get rekt when Sergey releases staking? Wouldn't everyone just withdraw and move their stacks over?

[Anonymous No.29862766]

>>29862621
hmm yes you're right actually. just withdrew 7k LINK from the pool and lost about 1,100 to IL but at least I'm safe! staking any day now guys

[Anonymous No.29862965]

>>29862766
This doesent seem to cover bancors IL insurance? After 100 days you get 100% insurance and any impermanent loss is paid back in bnt correct?

[Anonymous No.29863325]

>>29862965
Correct.
>>29862766
You seem to have a problem.

[Anonymous No.29863381]

>>29862621
>when Sergey releases staking?
>Sergey
>Staking
Listen to yourself.

[Anonymous No.29863491]

>>29862621
>Wouldn't everyone just withdraw and move their stacks over?
You realize how little your pathetic 50k link stack is going to pay if staking ever even happens???

[Anonymous No.29863498]

Is there a way to be notified when room opens up in a pool or do i just need to sit on my computer?

[Anonymous No.29863553]

>>29863498
On the discord there is a channel that auto notifies

[Anonymous No.29863683]

>no legitimate answer, only memes
Tells me all I need to know. Thanks

[Anonymous No.29864235]

>>29863683
So you are asking what happens when there is a run on a bank?
Do you think anything has zero risk?
Do you think opportunity cost is not real?

[Anonymous No.29864346]

$10 when?

[Anonymous No.29864402]

>>29863381
why is he drinking a link token

[Anonymous No.29864449]

>>29864346
March

[Anonymous No.29864454]

>>29864346
bull run over lad, sorry

[Anonymous No.29865335]

>>29861280

I’ve around 53k or so LINK on Bancor. What do you want to know fren?

>>29861583

Way too much alpha

[Anonymous No.29866772]

>>29865335
fuck, YAX was being shilled last month
do i get in??

[Anonymous No.29866828]

>>29860214
Whats up now?

[Anonymous No.29866905]

>>29860163
You can't even write infinite spend permissions on bancor anymore

[Anonymous No.29866951]

>>29866828
Nothing, he's just chatting shit

[Anonymous No.29866954]

>>29864402
burning supply, nobody will ever get that linkie

[Anonymous No.29867191]

>>29864346

[Anonymous No.29867255]

>>29864235
Except banks don't insure 100% like bancor.

[Anonymous No.29868913]

>>29862621
There is a response to this type of scenario in the Economic Analysis (page 22, just search for spiral in the doc) linked in the Bancor FAQ. It has more to do with major price changes vs IL protection but it's helpful.

In short, the safeguards are:
1. It is not guaranteed that LINK staking terms are better than Bancor and it's not guaranteed that even if they were that ALL liquidity providers would exit their pools.
2. If they did, it's not guaranteed that they would all do it instantly and simultaneously on launch date, allowing mitigation.
3. It's not guaranteed that people would liquidate their BNT holdings, especially since it's single sided pooling so LINK whales may not even own BNT. And if they do, they may still consider it a worthwhile investment.
4. Bancor LINK providers get a % of fees divided among them, meaning that it will always be profitable for some amount of people to stake as long as there is any LINK in the platform
5. The pool system is a natural stabilizer. Bot arbitrageurs will do a great job at scooping up price swings as LINKers exit.
6. Bancor has a highly active DAO. Presumably if native LINK staking is announced and the terms are better than Bancor can offer (honestly, doubtful) then the DAO can propose something between the announcement and launch of LINK staking to mitigate (I'm not smart enough to tell you what that would be but probably improved rewards).
7. LINK staking should shoot the price of LINK way up meaning that you'll need less LINK overall to balance the pools.
8. LinkPool will get staking well before Link does and we'll see it coming
9. Semi serious but LINK staking is still years away.

[Anonymous No.29869200]

Y'all this been gaining sats the whole day

[Anonymous No.29869236]

>>29868913
Thanks for the post.

[Anonymous No.29869734]

HOLY FUCKING SHIT STATERA PARTNERSHIP BOUT TO BE INSANE LETS FUCKING GO

[Anonymous No.29869814]

>>29865335
Just wondering how secure people felt about it. You plan to stay in indefinitely? You could potentially end up with less link and a bunch of bnt correct?
>>29866772
whats the deal with yax, website is meh.
>>29868913
ty for contribution fren

[Anonymous No.29869892]

>>29869734
What's ???

[Anonymous No.29869955]

I'm bullish on BNT but the constant self sabotage governance is starting to piss me off

[Anonymous No.29870040]

>>29869955
ahhh poo poo pee pee

[Anonymous No.29870207]

>>29869955
Voting will be cheaper once arbitrum rolls out do we can collectively dab in idiots easier.
I myself am thinking if some propositions to safeguard against stupidity

[Anonymous No.29870820]

>>29869955
its annoying but hopefully it will turn out to be a 'good thing' that we are getting to address the issue now instead of later. the governance goes both ways, we need to counter trash proposals with good proposals and limitations etc.

[Anonymous No.29870873]

Im in the discord where exactly do i find the alerts for when space in a pool opens up? i cant find it

[Anonymous No.29871244]

>>29859873
I heard that “Bancor is literally unstoppable” on /biz/ in 2017, it performed terribly lmao.

[Anonymous No.29871841]

>>29870873
Just in case you haven't figured it out yet, it's #lp-notifications. You need to be on the lookout for people putting BNT in the pair you want to put a token in.

[Anonymous No.29871981]

Scamcor

[Anonymous No.29872626]

Yes lets all invest in our own slavery
get rekt faggots

[Anonymous No.29872734]

>>29871981
wancor

[Anonymous No.29873513]

>>29871841
got it thank you.

alright for the first time ever on 4chinz all my questions were answered. and without a bunch of bs either. thank you frens

[Anonymous No.29874883]

I'll dump 50k GRT into Bancor if the vote passes. Can someone tell me the risks if i do this?

[Anonymous No.29875627]

>>29874883
that there's no space after you undelegate

[Anonymous No.29876094]

>>29874883
I think it's mostly just two things:
>catastrophic failure due to a bug in the Bancor smart contracts, or less likely, something bad happening to Ethereum
>GRT goes to shit while you're staked before you hit full IL protection, putting you in the situation where you have to choose between taking a loss to unstake and sell, or leave it there and hope for the best
Like mentioned though, it can be hard to get space in the pools. If you have BNT, you can stake it and quickly stake your other tokens and hope you don't get sniped. I did that for about half my USDC, while the other half was one massive stake of 200k BNT someone did that I spotted in the Discord channel mentioned above and quickly took advantage of.

[Anonymous No.29876661]

https://cryptofees.info/
Bancor outperformed Curve in this little bear trap market, not bad actually.

[Anonymous No.29877318]

my hands are getting weak boys..

[Anonymous No.29877872]

[Anonymous No.29878477]

Is there any indication that the lm rewards will be extended?

[Anonymous No.29878557]

>>29878477
lm rewards are over, anon, we all voted to finish them

[Anonymous No.29878810]

>>29878557
Why?

[Anonymous No.29879270]

>>29877872

[Anonymous No.29879423]

A proposal for gasless voting through Snapshot has been posted:
https://gov.bancor.network/t/bip12-gasless-voting-via-snapshot/922

>>29878477
See this recent proposal for major pool LM:
https://gov.bancor.network/t/rules-for-extension-of-lm-rewards-link-wbtc-eth-ocean-renbtc-extension/895
And specifically for stablepools:
https://gov.bancor.network/t/stablepools-lm-rewards-halving-and-extension/896

[Anonymous No.29880159]

>>29877872
Back over 60% staked at least...

[Anonymous No.29881746]

ahhhhhhhhhhhhhhhhhhhhhhhh

[Anonymous No.29881857]

>>29861773
I’m a kinda richfag in LINK (kek) and I’m going with Banky boi for a year. Don’t trust that.

[Anonymous No.29882710]

>>29881857
dont trust what?