New blog out on V3 collapse

[Anonymous No.50061931]

https://blog.bancor.network/bancor-update-june-29-2022-322fbbd993ad
Just summarizes what happened. Still no plan.

[Anonymous No.50061944]

>>50061931
They are so fucked lmao.

[Anonymous No.50061953]

>>50061931
Is Celsius still hodl mode? Week 3?

[Anonymous No.50061990]

They do at least state it clearly at least now:
>Currently, a majority of the protocol’s largest token pools are in a state of deficit. This means that if the protocol were to pay users the full value of their deposits all at once (i.e., a mass exit), it would require distributing so much BNT that the token could spiral to zero, and the payouts would ultimately be worthless to recipients.
>Pool surpluses or deficits in the protocol continuously change based on the price of BNT. There is an inverse correlation between the BNT price and the size of the deficit: As the BNT price has risen relative to the prices of listed tokens on the network, the deficit has decreased, and as the BNT price has declined relative to listed tokens, the deficit has increased. The more liquidity in a given token on Bancor, the more its price divergence from BNT affects the deficit or surplus.
If you have LINK in there, hope like anything that no good news comes. Actually probably nothing to worry about there.

Also, this part is great:
>4. Insufficient revenue to cover protocol liabilities
>Protocol fees should always cover protocol liabilities and in an improved model, we propose it be enforced by the code rather than assumed by the DAO.
>The “superfluid” nature of Bancor V3 lays the groundwork for additional revenue streams — outside of just trading — to emerge atop Bancor liquidity pools that can support profitable and reliable fee-earning strategies in DeFi.
How do they expect to get revenue when no one will trust them? What are these additional revenue streams that are going to magically save them?

[Anonymous No.50062054]

I hope you guys got out and cut your losses. I lost 6.5 ETH to these fuckers. Now they claim users can't withdraw because of a bug. These fucking Jews will pay for their sins.

[Anonymous No.50062169]

>>50061931
Ov vey!

[Anonymous No.50062229]

If the team is reading this there are already plans to kill and skin everyone one of these Jew fucks. Jen and her family first