Hey π«΅ , are you wondering why Bancor $BNT is seeing positive price action the past few hours.
1. Did you know that @CarbonDeFixyz is the latest protocol from @Bancor and it is governed by $BNT token holders? 100% of fees go towards BNT buyback and π₯
https://t.co/ckNc65IKzD
1/ GM!
Today marks a new era for on-chain trading and concentrated liquidity strategies.
https://t.co/JCdJ0L3Nw3 is live on #Ethereum Mainnet and ready for your recurring range trading strategies!
Bancor Timeline π
> @Bancor is a dead project
> @CarbonDeFixyz by #Bancor is out but nobody will use it
> Strategies are being created but fees aren't significant (we are here)
> Fees & Volume are significant but $BNT token not needed
> BNT token needed but only for buy & π₯
@ShmeekDAO No and how would it solve front running?
TKN is worth $1 now
Someone buys TKN after buyback vote passes and TKN is $2 now
Bancor DAO starts buying token at $2 or more and token is worth $4 now. Original buyer dumps and makes profit from Bancorians who bought TKN at inflated $$
One of the most important events for #Bancorians is under way as the @bancor token surplus is converted to ETH
When this process is done about $3m-$4m in $ETH will be collected. The conversion has already begun & over 100 ETH is already in the contract
https://t.co/AfpeIa6NaN
@ShmeekDAO It will be front run by buyers as soon as the vote passes
No one in their right mind that is buying in size will buy any token at spot price
If the DAO wants to use ETH for deficit reduction then I suggest creating an ETH backing for BNT BELOW the market price
this means that creating a low maintenance Carbon strategy is quite easy to do. Importantly, this will bring 3m+ in TVL to @CarbonDeFixyz in addition to a consistent source of volume.
This volume will ultimately drive more $BNT burning as takers pay 20 basis points
@MikeToutonghi@stacy_muur@Bancor It's good to have an immutable ledger that keeps track of history:
The original Bancor AMM:
https://t.co/jvqoPC0pre
The original Bancor Formula:
https://t.co/COaBmg81tL
Bancor co-founder more than 7 years ago:
https://t.co/nGDYgmeLRZ
I think the OP should provide credit
@0xShual Thanks for shining a light on my proposal.
vBNT was a token that was meant for v2.1 and v3 both protocols which are now in the process of being sunset and retired.
Bancorians are now building Carbon & simplifying tokenomics is beneficial
https://t.co/MQzpSeHDdY
Automated trading remains largely unavailable in DeFi.
The reason: AMMs force LPs into a "one-size-fits-all" trading strategy.
Carbon takes the opposite approach. Instead of prescribed strategies, users set their own buy & sell ranges.
Learn more in our 1st explainer video πΊ
To #Bancor Bancorians
A proposal to burn 1.16m $BNT that was collected from Bancor 3 fees is under vote on snapshot
It needs more votes FOR to get majority. If you have vBNT vote FOR this proposal to further reduce the BNT supply down to 144m
https://t.co/AHhiSCKoa4
@0xcarnation@PrimalGlenn Outcome is based on a proposal meeting quorum and supermajority. 35% is required for quorum and that is about 2m minimum votes.
This proposal is still active and can meet quorum without the foundation if more bancorians vote.
@0xcarnation@PrimalGlenn That's the Bancor foundation and it is a single voter.
They abstain from voting via snapshot so that their vote doesn't count "For" or "Against". Their vote only count towards quorum.