/biz/ - Business & Finance

>>20031953
>breathes in

AHAHAHAAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAAHHAHAHA

THE WORLD IS NOT ANYMORE THE WAY IT USED TO BE MMMM MMM NO NO NO

DUMP IT LOL

>use the balancer brand to mislead users and and credibily
>balancer has been hacked twice in the last 2 days and Statera is more popular than ever

>>20032149
>Statera is more popular than ever
that's biz logic. buy when it makes least sense. they see a green bar from a bounce and get greedy and delusional.

>>20032149
Balancer was not hacked
They specifically noted this ability with deflationary coins. They won’t fix it, they’re just gonna blacklist deflationary coins from now on. Sta is unironically finished

Post the whole convo, nigger.

And fyi, mike has yet to answer. If he says no, then the whole of Balancer is compromised.

>>20032529
How big is balanced anyway?

>>20032579
Statera's Twitter posts clearly hinted at a partnership with Balancer, thus the whole post.

COMP token issue is a different issue, in fact it's behaving as intended.

I hope mike ignores that dumb question. Liquidity Pool tokens are not meant to be treated as tokens - They simply represent a trading pair.

You really need help. Sell your STA before it's too late.

>>20032840
Why cant they be used in the balancer?

>>20032919
Ok here’s how it goes
You deposit funny money into a liquidity pool and get a token.
You trade that token
Whoever buys that token now has the rights to your funny money. The token represents that pool. It’s literally retarded to trade pool tokens...you’re giving your liquidity away

>>20033001
so? you get other tokens in exchange.

>>20031953
>if you want to have anything left of your STA hodlings, sell them now.

I wonder why so many people keep saying to sell STA. Its almost as if a load of weak hands got rekt and panic sold, and now they've been priced out

>>20032840
I see no hints at partnerships or cooperation. Seems like common courtesy after the whole pool shit. They're working together to get funds back and that's it. It was a simple question if a ERC20 standard token can be used on the platform, but mike is apparently refusing to answer.

Pull your funds out of balancer now.

Sta-bros are delusional, they look move like a cult now kek

>>20033120
>I wonder why so many people keep saying to sell STA. Its almost as if a load of weak hands got rekt and panic sold, and now they've been priced out
That is one possibility. Another is that STA is a joke and smart anons are trying to protect retards from themselves.
The only purpose of the token was to dilute and farm liquidity rewards but Balancer blacklisted from earning rewards. It is now functionally the same as BOMB. Enjoy holding.

>>20032919
The balance pool doesn't confirm the amount of a coin that is traded internally, it just assumes it got 100% of the coin, but deflationary tokens burn a portion of the amount of the tx, so the balancer doesn't realize that it got less than what it thought it was supposed to. This in normally corrected with the Gulp() function which syncs the balance pool with the blockchain. The hacker traded 1000 eth from a flashloan back and forth burning tons of STA each time until there was no STA in the pool, all before the Gulp() function was called. This somehow allowed him to trade a small amount of STA for everything in the pool. Someone found this exploit 2 months ago but the Balance Labs devs ignored it and didn't pay the person the bug bounty. Now after the hack, they admitted that they fucked up and are baying the bug bounty and reimbursing STA/Stonks for their loss

>>20033552
I was talking about the uniswap liquidity tokens, they are not burning.

>>20033134
He has been such a salty cunt since the beginning. He refused to take any blame for what went down until Hex Capital completely shut down his claims that this was an unknown exploit.

Hex Capital reported this exact vulnerability to Balancer Labs during a bug bounty in May, yet they ignored it and then claimed this was unforeseen. Only after this news came to light did Mike MacDonald show some contrition and take accountability. Before that he was deflecting all wrongdoing. Caught red-handed.

>>20033939
ALL of that is 100% true. BUT regardless why buy statera? If statera is dependent on BAL and they dont like statera why buy statera?

>>20033939
god he looks like a retard.

>>20034011
We're working on a fix to get a pool up and running again to have the same results without STA being directly in the balancer pool, cause they seem to have no intention of wanting to fix their gulp function problems.

The recent COMP hack was the same. Balancer pools don't call gulp functions for every trade like Uniswap does, so anything not directly swapped by the pool but airdropped as a reward or yield can be 'stolen'.

>>20034170
I understand all of that. Maybe better than you. Try explaining to onboarders.
Buy this coin, then pool here to get this coin to pool here to get BAL tokens.

That shit wont sell.

>>20032625
it basically has a monopoly on decentralized pooling of ERC-20 tokens. Unless they rewrite their codebase to support burn coins, it's over for STA. buying BAL makes so much more sense than buying STA right now lmao, this all shows BAL is legit and STA is, at the very least, highly dishonest

>>20034251
really not too hard with an article and a graphic.
and a certain point the hand-holding would just naturally end anyway. Number going up. Figure out why or don't. Jump in or don't.
More things can also happen with the project too you know. It doesn't have to just stop there and never do anything else.

>>20034456
but you cant do it in a post?

>>20034321
how did you come to that conclusion?

>>20034618
we don't have the new process yet mate

>>20034170
There it is folks the Statera team on Biz. You guys are never going to make it you slimy snake oil salesmen

>>20034858
I'm not part of the team, the 'we' is used as a community member.

I'm just relaying what was said and posted in the telegram, or twitter, in a easy to understand way.

The concept would be the same as the OG pool, except instead of BPT one would trade the uniswap pool token. Doesn't change much in the end. But balancers devs aren't really cooperating in saying if that ERC20 token is supported or not and could lead to more attacks.