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19892085 No.19892085 [Reply] [Original]

This has been shilled by low IQ pajeets on biz with shitty 'memes' and empty "to da moon fellow caucasians" schtick, but here's the red pill: after having failed their initial v1 launch and dumping more than 90% from ATH, they're finally launching V2 update in July, which brings the following features:

1) new version of Automated Market Making (AMM) that eliminates the risk from impermanent loss (HUGE problem with all AMMs that has previously stopped market participants from providing liquidity into the pools)
2) EVERYONE can provide liquidity to Bancor pools with just their token of choice, which hasn't been possible before. That means you can earn trading fees from staking LINK or RSR, while not having to have exposure to any other tokens in the liquidity pool. That means all the digital assets that don't have staking will move to Bancor to earn trading fees
3) amplified bonding curve that reduces price slippage now also available for volatile assets (example: AMM with $100k in its reserves has 10% slippage on a $10k trade; but if you introduce 20X amplification, the slippage on the same trade will be reduced to 1%). That means buying/selling will have less slippage than on centralized exchanges. All trading will be done in Bancor
4) as a liquidity protocol they provide liquidity to lending protocols and this means that all decentralized exchanges will outsource liquidity from Bancor, which means Bancor liquidity pools become even larger and more profitable; this creates additional demand for BNT (liquidity loop)

Important! The game theory behind the liquidity black hole:

twitter.com/Rewkang/status/1272631205263900672

other factors:
1) market cap is $76 million and fully diluted
2) they raised $153 million in ICO, so they have a large amount of funds to operate with
3) over 100 employees working on the project
4) all seed and private buyers from 2017 are rekt and you can buy in cheaper
5) the market doesn't understand V2 and its value in the DEFI ecosystem yet

>> No.19892213

ok ranjesh

>> No.19892656

>>19892085
You forgot:
>literally never explained magic behind solving "impermanent loss"
>literally worst security record in history of crypto

There with everything else I agree but there are risks.....

>> No.19892688
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19892688

>>19892085
>he's right

This guy gets it. BNT is about to go full sperg parabolic. $10 is conservative.

>> No.19892699

>>19892656
there's a character limit for posts, my friend

and I agree that there are always risks involved in every investment, but in my opinion the potential upside outweighs the risks by a margin high enough that's I am willing to take the gamble

>> No.19892770

>>19892656
>Literally is explaining magic behind solving "impermanent loss" next week
>Literally every worthy project in crypto has had security stress tested

Yea there are always risks, but your FUD is exaggerated. If they've solved impermanent loss we all know BNT is going to be a top 20 coin.

>> No.19892783

>>19892656
a first step to understanding how it might be attempted you can find here

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

>> No.19892826

>>19892770
I suspect $2 when the date of V2 is announced, then the real fomo starts

>> No.19892851

>>19892656
if you're too lazy to go to the link

"Launching in June 2020, Bancor V2 aims to solve these issues by expanding the concept of mirror-asset AMMs to volatile tokens.
Through an integration with Chainlink price oracles, Bancor V2 enables the creation of AMMs with pegged liquidity reserves, which hold the relative value of tokens in the AMM constant. This new type of AMM effectively relies on oracles to balance prices when they diverge as a result of external market fluctuations, rather than relying exclusively on arbitrageurs. In doing so, it is able to eliminate the risk of impermanent loss for both stable and volatile tokens.
Crucially, this design also allows users to provide liquidity without needing to hold an additional wrapped or synthetic asset. Instead, you can provide liquidity with 100% exposure to a single token in the AMM".

Obviously this is not as technically thorough as it could be, but revealing important competetive advantages to competitors might also not be the best idea

>> No.19892854

>>19892085
They had to whitehack all deposits, and even lost user funds in the process, because of a critical bug in the code. WTF, why should we just ignore that and pretend it's all good in the hood

>> No.19892860

it slowly mooned today while everybody was checking link
made some nice profits

>> No.19892870

>>19892699
Yes and everyone should get suicie bag of this (5k stack here only fuck it) this could be like 2019 snx and last moon before phase 0 hype BUT dont get overexposed before they reveal how are they solving something literally everyone in space claims is unslvable and before code is audited (when auditing is passed im doubling my stack for start)

GL

>> No.19892943

>>19892085
Lads, i wish you all the best. I sold and I'm waiting if it dips, if not that's fine. Its been an epic ride. Wish I bought more than 10k early on. I really hope they don't eff up, it would be a shame. Good luck boyos!

>> No.19892970

>>19892851
Exacly only makes sense partially as You may notice....

>> No.19893011

>>19892851
FYI its slated for July now, not June

>> No.19893022

>>19892870
The thing about it is that most people don't even realize the importance and magnitude of what they claim to have solved

so BNT might not get normie attention for a while even if V2 launches succesfully

>> No.19893101

I don't get the security fud. Wut am i missing?

Bancor is one of the oldest and most used protocols on the blockchain

Gone brrrr for like 3+ years now

2018 they lost no user funds, latest vulnerability they quickly white-hacked and no user funds lost

That's it

Can u name other protocol out there that have been around this long, processed billions in vol and have no incidents? How many times binance been hacked?

After the way they handle last week vulnerability i was impressed. picked up a fresh bag sunday

>> No.19893251

>>19893022
I expect the TVL to be even faster than LEND's, thats when people will start to take notice

>> No.19893686

to da moon fellow caucasians

>> No.19894078

>>19892085
3 Billionaires tweeting about V2. What else do anons need to be interesting in this.

>> No.19894139

>>19894078
can you link me that?

>> No.19894184

>>19894139

https://twitter.com/timdraper/status/1269706719149477888

https://twitter.com/novogratz/status/1269645263955779591

https://twitter.com/brockpierce/status/1274156583669231617

>> No.19894590

>>19894184
Brock Pierce is a pedophile

>> No.19894895

>>19894590
Who cares, he has money