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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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21112407 No.21112407 [Reply] [Original]

No Bancor threads in the catalog, so here we go.
Will be posting some redpills in this thread because I am so fucking excited right now.

Yes, I've been providing liquidity in the first V2 pool since launch day.
Yes, I've been making absolutely disgusting APR.
Yes, I own chainlink.
Yes, I'm gonna make it.

>> No.21112482

>>21112407
I am currently yielding 1%+/day on my LINK in the V2 pool

it feels like cheating, not sure how to feel t b h

>> No.21112549
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21112549

With only 2 V2 pools live, it's difficult to fully explain the absolute magnitude that Bancor blows uniswap out of the water.

For a trade of ~$72,000, you get about 1,200 more LINK using Bancor V2 than Uniswap
This is a difference of over $10,000.
Pic related.

Once the ETH/BNT V2 pool launches, you will see how it mogs uniswap with an ETH->LINK tx

>> No.21112620
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21112620

>>21112549
For a trade of 300,000 REN, or ~$68,000, you get about 600 more LINK, or over $6000 more LINK using Bancor V2 than uniswap.

Again, once the ETH/BNT V2 pool launches, you will see how it mogs uniswap with an ETH->REN tx

>> No.21112664
File: 1.45 MB, 480x480, 1596837543511.webm [View same] [iqdb] [saucenao] [google]
21112664

>https://youtu.be/ouLLi_nYScc
>https://twitter.com/Rewkang/status/1272631205263900672?s=19
>https://twitter.com/benjaminsimon97/status/1290825252096954368?s=19

It takes 20 minutes of your time to 10x your portfolio in less than a month. Never say /biz/ didn't give you anything for free. Buy BNT now or buy our bags later

>> No.21112767
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21112767

>What value does the Bancor token have?
Bear with me, I'm sure i could find some copypasta about this but i'm going to type it up live right now because i'm so fucking excited.

Bancor is used as an intermediary token in all Bancor pools. This means to go from REN->LINK you perform the trades REN->BNT->LINK
And this is the case with every single token that exists.

This means that Bancor tokens must be used as a counterbalance in all pools for liquidity.
If $1,000,000 worth of LINK is staked in the V2 pool, $1,000,000 worth of BNT must be staked against it to evenly distribute the fees.

>What happens if there isn't $1,000,000 worth of BNT staked against $1,000,00 worth of LINK in a V2 pool?
The fees are split 50/50 between each side, regardless of the actual fiat value of the liquidity provided.
This means that if there is less BNT staked than the opposing token, those staking BNT will receive a disproportionate amount of fees.
This means that in all cases where "other token" outweighs "Bancor Tokens" in a pool, those supplying Bancor make more money per every dollar of liquidity they provide.

>Why is this important?
Supplying Bancor in a pool that is short on Bancor gives you higher APR. For example, if the pool is incredibly imbalanced its possible that BNT liquidity providers will be earning 50% APR while the "other token" liquidity providers will be earning 8% APR

This makes it extremely lucrative to supply BNT in this pool. Causing people to go and buy more BNT to supply liquidity for free passive money.

>> No.21112870

>>21112767
And here's where it gets hilariously disgusting.

For every single other token that a V2 pool exists, considering the previous post, Bancors marketcap will naturally rise to meet the demand of liquidity provided.

LINKs marketcap? 3.5 Billion
ETHs marketcap? 42 Billion
Every other token that exists marketcap? You run the fucking numbers, its endless.

If people use V2 pools to earn free money on their bags by supplying liquidity with no impermanent loss (why wouldn't you? its free money)
Then Bancors marketcap will rise up to meet the demand of the liquidity provided.

If every single token liquidity supplied in V2 pools amounts to $5B, there will either be:
$5B in Bancor liquidity provided
OR
Those supplying Bancor liquidity will get absolutely unbelievable APR

The 2nd option simply wont happen. People WILL purchase BNT in order to supply liquidity for something unreasonable like 70% APR.
Bancors marketcap will continue to rise to meet these demands, because it is FREE MONEY to supply Bancor liquidity at these insane APRs

>> No.21112932
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21112932

>>21112767
>Bear with me, I'm sure i could find some copypasta about this but i'm going to type it up live right now because i'm so fucking excited.

The BNT token is crucial to all the Bancor AMM's (automated market makers) as it by design makes up 50% of each liquidity pool on the network. Why is that important? Market participants will be incentivised to stake their long hold token of choice in Bancor V2 liquidity pools due to getting no impermanent losses from staking and having the advantage of single token exposure, while earning trading fees as liquidity providers at the expense of traders executing trades. So if the value of the other tokens in the liquidity pools increases, the BNT proportional value has to increase as well to balance the pool. How will this happen? From BNT stakers getting more favourable dynamic fees if the pool is unbalanced. This creates more market incentive for people to buy additional BNT to 'arbitrage' the fee imbalance from the pools - price of BNT goes up.

Another important factor: the BNT supply will be inflated as BNT staking rewards will be given from minting new supply, which amplifies the potential earnings from staking BNT in addition to making profit from trading fees. If you're not staking your BNT, you will be diluted out of your market share %, so there's a game theoretical design for every holder to stake their BNT, which creates the following loop: the more BNT staked > the better the liquidity for traders > less slippage for traders > more volume > more fee earnings for liquidity providers > more demand for BNT > price of BNT goes up > deeper liquidity pools > less slippage > more volume > more fees > more demand for BNT > BNT price goes up and the loop goes on and on until all digital assets are being traded on Bancor or outsourced from Bancor liquidity pools.

That's what's called the 'liquidity black hole'. If that loop gets successfully implemented, there's no ceiling to how much BNT could pump.

>> No.21112945

>>21112870
>What if nobody uses Bancor V2 and therefore there aren't any fees generated to pay out those supplying liquidity.
The beauty of this is that it simply won't happen.
1inch, Pathfinder, Kyber, all other DEX aggregators will force people to use Bancor on the backend, because it gives them the most tokens for their money.

People will simply not willingly use uniswap when they are guaranteed to get more tokens for the same exact transaction if they use Bancor.
It will quite literally eat all of the liquidity from every other DEX that exists. Everything will be processed through Bancor because they give the undisputed best rates. Because of liquidity amplification as a result of their utilization of chainlink oracles.

>> No.21113003

>>21112932
Based black hole copypasta. This is better written than my own text, but conveys the same ideas and then some.

If you can truly read all of this and STILL don't think that Bancor V2 will eat other DEXes alive
If you can truly read all of this and STILL don't think that Bancors marketcap will rise to meet the demand of liquidity necessary to counterbalance these pools
If you can read all of this and STILL think Bancor is a shitty buy.

Then you simply aren't going to make it. This is one of the single most sure-bets to ever exist.

>> No.21113032

I sincerely encourage anyone reading this thread who has questions or reluctance about Bancor to post their concerns. I will spoon feed tonight. Because I am so fucking excited. Because I am making so much money.
Because I love biz. Because I love you, anon, reading this post.

We are all going to make it.

>> No.21113169
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21113169

>>21113003
>This is one of the single most sure-bets to ever exist.
>tfw I know it's a sure bet but I can only afford a 2.5k poverty stack

>> No.21113258

>>21113003
what is your price prediction for BNT in the short-term and long-term?

>> No.21113322

>>21113258
$1,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
idk about long term tho

>> No.21113373

>>21113032

I am absolutely shaking this might be the greatest post on /biz I have seen this entire year no joke.

I'm all in BNT since early May and it truly feels like we are destined to make it. I don't even care what the price is today because I know what the future holds and them releasing the REN pool out of nowhere and the BNT side filling up quick as fuck lets me know like you said people will but bnt to fill up that side of the pool to balance out the disgusting amount of fees lol.


Quick question for you oh wise anon...when the ETH/BNT V2 pool launches and is uncapped is it conceivable that the returns could exceed what staking ETH 2.0 promises???? Could the liquidity black hole actually swallow more ETH than all other defi protocols combined.

In a world where leys say ETH 2.0 goes ballistic and reaches $1 trillion market cap, could Bancor conceivable reach a fraction of that say $50 billion if it becomes the ETH liquidity black hole or am i delusional?

Sorry I just haven't been this excited in a long time.

Oh also if there is a huge BTC crash will BNT go crashing down with it since curve.fi dominates the stable coin market?

>> No.21113394

>>21113258
$500,000 anon, can you imagine? What about $6 million per BNT imagine what you could buy. Well it's time to get excited, because what about FIVE HUNDRED MILLION dollars for every BNT, do you like the sound of that? Well we're not done yet, have you tried fantasizing about TEN BILLION US DOLLARS per BNT! Holy shit, anon, are you excited yet? Would you like more predictions? More big numbers? Even bigger numbers? Yes!?
What would you say if I told you that one BNT would be worth FIVE, HUNDRED. BILLION. BAJILLION. TRILLION. MILLION. GABILLION. ZILLION dollars for every BNT you own. Holy shit anon think about that! Imagine having all that money whoooaaaaaaa.

>> No.21113410

What's to stop Uniswap from improving their platform? Or another competitor that's even better popping up without all of the baggage?

>> No.21113418

>>21113032
you sound like a really bad shill though. As someone who has been browsing here for a while it makes me think its a scam

>> No.21113425

>>21113258
Price predictions are a meme.
That being said, $10 is an almost certainty by EOY 2020 if there are no catastrophic events in the form of a COVID dip 2.0 or a Bancor smart contract hack.
And $10 is being conservative. That puts Bancor at a ~$700m marketcap

Which still makes it unable to adequately supply liquidity against monster market caps like ETH (42B) or LINK (3.5B). Not to mention every single other token that exists.
AAVE (483M) KNC (303M).. the list goes on..

>> No.21113460
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21113460

>>21113394

>> No.21113480

>>21113322
>>21113394
just tell me what price it's going to hit so i know how big of a stack i need. is that so fucking hard asshole?

>> No.21113518

>>21113480
>just tell me what price it's going to hit
Yeah I'll get back to you as soon as I know next month's lottery numbers, one sec.

>> No.21113551

>>21113425

Im really worried about covid 2.0 dip and SPX crashing which means BTC crash which means all of defi is fucked.

In March defi took like a 50% hit im assuming all the faggots were scrambling to stable coins so not sure what the best course of action is here....Try and time the possible crash or sell to early and get blown out of Bancor.

Thoughts?

>> No.21113563

>>21113032
When I try to add liquidity to BNT/LNK it tells me the pool has reached its cap. Which I understand is $500 000. So what does this mean for me?

>> No.21113601

>>21113373
>Quick question for you oh wise anon...when the ETH/BNT V2 pool launches and is uncapped is it conceivable that the returns could exceed what staking ETH 2.0 promises?
Are you sitting down anon? Take a deep breath, I'm about to redpill your dick off.
REN.
Over 2M REN was supplied into the new REN V2 pool within hours of it opening.
This means that collectively people decided they would rather stake REN in a V2 pool than run 20 REN dark nodes. I saw a number of transactions for liquidity involving hundreds of thousands of REN.
One guy alone supplied over 300,000 REN.
This man chose to supply REN liquidity in a Bancor V2 pool instead of running 3 additional REN darknodes.
In short? Yes. Yes it is entirely possible that providing liquidity in a Bancor V2 pool yields higher returns for tokens which have inherent staking mechanisms. And it's already happening.

>>21113410
Uniswap would have to quite literally copy the entire architecture of Bancor V2 from the ground up. First mover advantage. Bancor uses chainlink oracles to accomplish these insane advantages, and uniswap would have to bend the knee to chainlink, too. Like I said in the OP I hold a fat bag of LINK too, either way i win. But again, first mover advantage.

>>21113418
I hear you and I understand. I genuinely want you to tell me which part sounds scammy. My excitement gives off pajeet vibes and I get that, but Bancor has quite literally changed the entire DEX game for the rest of history, with V2

>> No.21113614

>>21113563
>When I try to push on the door to get into the library it says "Library Closed". So what does this mean for me?

>> No.21113644

>>21113563
pool's closed (due to cap)

>> No.21113656

>>21113480
At a minimum 5x from here imo. Once pools open for all tokens, it's going to be mega fomo time for BNT. Read previous posts to understand why people will fomo, no use of repeating

>> No.21113717

>>21113551
Nobody can predict what will happen. Don't over-invest though if you have such worries. Take calculated risks, always

>> No.21113755

>>21113601
returns are only so high because of the current cap, returns right now don't predit future returns in ANY FUCKING WAY. I'm all in bancor but the APR will be decent but not that high. ofc BNT token will moon hard once Bancor made uniswap obsolete

>> No.21113764

>>21113551
If the entire global economy crashes a second time, I won't lie to you anon, yeah Bancor will probably crash too.
If you genuinely want to hedge against another global economic depression, then that's understandable.

But it's something that would affect every single asset across the board, it's difficult for me to rationalize holding back on something as amazing as Bancor because the entire world could see a dip.

>> No.21113800

>>21113644
so wtf do I pool into if I want to take advantage of this

>> No.21113805

>>21113755
>returns are only so high because of the current cap
Yes this is true.

But, as you said, once Bancor makes uniswap obsolete and devours the entire volume of all DEXes that exist...
There will be plenty of fees to go around. Every single ERC20 token trade that goes through DEXes will go through Bancor

The fees will be enormous.

>> No.21114153

>>21112407
i got a stack but tell me this, why do you think bancor will be the liquidity blackhole and not yearn?

>> No.21114251

>>21112407
based spoonfeeding anon. BNT is my biggest bag now, LINK being a close second.

Retail traders getting in now doesn't really matter. Usage and staking is what will take us to the moon. the pumpamentals on this coin are like nothing I have ever seen before. So excited for us.

>> No.21114354

>>21113656
when do the pools open?

>> No.21114388

>>21114354
Team is aiming for Q2 2024, I'm so pumped.

>> No.21114437

>>21113764

Its a tough call but I appreciate your viewpoint and I know if we do have a BTC crash that Bancor and the Defi movement will be here to stay going into 2021/2022.

I feel like one last pullback is coming before BTC finally breaks past 20k and sets the new bull cycle in full run. Could be wrong but thats my feeling.

>> No.21114471

>>21113425
so bancor is in the market making game more then anything

>> No.21114484

>>21114153
In short, it's because they appeal to different markets. yearn is mainly focused on yield farming.
Yes, they have the yswap exchange, but even then the main tokens they are working with are aave tokens or synthetix tokens.

Yearn is built with the main goal of being a yield farming platform
Bancor is built with the main goal of being the best DEX to exist

Just different markets, with slight overlap

>> No.21114565

>>21114153
why do you think yearn will when its just shitcoin apr farming?

>> No.21114611

>>21114471
Yeah, more than anything Bancors goal is to become THE source of liquidity for all decentralized exchange trading.
The ultimate goal is that Bancor V2 pools are the source to which every single decentralized exchange of assets goes to for liquidity.

>> No.21114660

>>21114484
but for liquidity providers all that matters is who gives the best return. LINK delegated vaults already live on yfi and SNX coming soon. as far as i know bancor pools are still capped. i think the black hole will be bnt or yfi but i don’t know which yet.

>> No.21114707

>>21114611
checked, and they do that by catering to AMM and MM with fees. Im not sure they can dethrone uniswap or 1inch unless that chico faggot shills it. Unis has first mover advantage i feel like

>> No.21114743

>>21114707
>Im not sure they can dethrone uniswap or 1inch
Have you even done the most rudimentary research into what Bancor does and the problems it solves?

>> No.21114762

Sorry if i'm dense but why can Bancor perform so much better than say uniswap for example? What is it about the protocol that is superior?

>> No.21114790

>>21114660

Do a deep dive anon. BNT is the one. Liquidity providers will all migrate to Bancor for the simple reason that returns will be highest there because all the volume for dex trades will flow through there.

Yfi/Snx if they offer say 10% yield they will get blown out of the fucking water by BNT yields plus with DAO Governance staked bancor will earn even more rewards through inflation of the token.

Its game over.

>> No.21114796

>>21113032
Ok. I already hold 10k, but I'm also retarded and just invest in what smart people tell me. It's worked well so far.

What if any are the risks for becoming a liquidity provider in a bancor pool?

>> No.21114840

>>21114743
no thats why im in here. just started trying to learn about it now

>> No.21114863

>>21114796
Smart contract vulnerability drains the pool and you lose everything.
That risk decreases with each day that goes by, as people will be stress testing it 24/7 trying to find a way in, but it still exists as a risk and always will.

>> No.21114899

>>21114840
>https://blog.chain.link/challenges-in-defi-how-to-bring-more-capital-and-less-risk-to-automated-market-maker-dexs/
that's about the most concise summary to start off with, then basically read everything in the Bancor blog.

>> No.21114917

>>21113394
I love this pasta.

>> No.21114988

>>21114660
Again, yearn and Bancor do different things. Using a delegated vault is not providing liquidity for DEX trading. It is deposited into Aave and used as collateral to borrow stable coins for yield farming shenanigans.
DEX trading will always exist. People want to be able to exchange assets in a decentralized manner. Bancor will be the source of liquidity for all DEX trading.
Different markets, both will likely exist simultaneously, because people want free money from yield farming, and other people want the free money from supplying liquidity to all DEX trades that exist.

>>21114707
1inch will use Bancor. It is a DEX aggregator, not a DEX. If Bancor has better rates, 1inch will use Bancor.
Bancor is better than uniswap because of liquidity amplification, which they accomplish through use of chainlink oracles.
This creates less slippage.
Not to mention single asset staking and no impermanent loss, neither of which Uniswap has, making Bancor more desirable for all liquidity providers.

>>21114762
liquidity amplification, single asset staking, no impermanent loss.

>>21114796
smart contract hack is the risk, as with every other thing that exists in blockchain

>> No.21115001

>>21114863
Thanks. So a hack is the only way to lose money.

>> No.21115006

>>21113032
Is bancor doing anything to integrate with other non ethereum blockchains, (e.g avax) to try to be the default DEX on there too? That's one of the biggest things holding me back as I'm a big believer in avax and I think it will be basically Eth 3.0. anything that doesn't have avax functionality will be beaten by things that do have avax functionality imo.

(But let's just say I'm completely wrong about AVAX, and something like ADA or DOT gets big, would Bancor have some kind of a Dex that runs on those blockchains too? Or will it stay Eth only?)

>> No.21115051

>>21115006
>Is bancor doing anything to integrate with other non ethereum blockchains
Yes. This is actually one of the major advantages of having BNT tokens specific to Bancor.
They already support the EOS blockchain and, as a result of BNT tokens existing, can port to any other blockchain that exists or will ever exist.

>> No.21115055

>>21114388
So you're saying this won't kick in for 4 years...?

>> No.21115178

>>21114762

Read all the posts above. Dont say you werent warned when this shit hits $10 in September.

>> No.21115236

>>21115055
You can't rush perfection. Just buy and hold. You will be a very happy man after 2024.

>> No.21115332

>>21115236
i got a 10K bag.

>> No.21115449

>>21112407
i'm trying to join a pool but it says that they have reached the maximum caps.

>> No.21115478

>>21115236
kek yeah no im good

>> No.21115505

>>21112870
GOD I FUCKING LOVE BANCOR (BNT). ALL OTHER DEFI GETS BTFO!

>> No.21115524

>>21115478
they're just fucking with you in case it isnt obvious

>> No.21115580

>>21115478
Anons in this thread clearly explained why BNT as well as its LPs will be absolute game changers, yet you're all good?

There's just no helping some people. Stay poor, brainlet.

>> No.21115681

>>21115524
that doesn't help the project, esp in such a positive thread (as /biz goes)

>> No.21115696

>>21115524
>>21115580
ive been holding link since ico. i cant do another one bros

>> No.21115816

>>21115681
welcome to biz
>>21115696
wish I could say i got into LINK ico, but that would be a lie.
I did however get in on etherdelta for 15c directly after the ico. my only excuse is that the ico pooled format seemed extremely scammy at the time, with anons sharing their pools. just rubbed me the wrong way.
I of course did my own research and bought a shit load on etherdelta after realizing i was an arrogant prick for dismissing it because of the unique ico format.

>> No.21115894

>>21115816
well im sold just need to follow up with research. thanks btw if i have anymore questions ill post in the shill threads

>> No.21115911

Weekend reading material :

Aave AMA summary

- New pools soon, LINK's pool has been performing well, the Team is running tests on it and "so far so good"

- Asaf on APR and token price:
APR is calculated in the following way:
price 0 (can be from last hour or day)
price 1 (can be from the following price 0 hour or day)
divide price 1/price 0 to extract the diff and multiple it to a year

Each pool includes an internal price feed derived from the simple moving average (SMA) over the preceding ten minutes. On each update from the external oracle, the internal price feed re-anchors to the external oracle and the continuous SMA calculation restarts.
The prices come from trades against the pool. Basically it measures asset prices based on these trades.

- Team is satified with v2, but says it's not yet perfect, slippage is a bit higher than they expected. Working on allowing arbs to take advantage of opportunities

- Nate on caps:
"With the first few pools they will be graudated - i.e., go from 500K to $1M. After we're comfortable with results of our tests, than the lid is off. Bye bye caps!"

- On lending with Aave
Essentially a portion of staked liquidity in the pools can be simultaneously lent out on aave, and “unwrapped” for conversions & withdrawals.

So LPs earn lending interest on top of trading fees.

Eg:
1) stake DAI in DAI/BNT
2) 80% of the staked DAI is wrapped and lent out on Aave
3) 20% of DAI is used for conversions
4) if the pool needs more DAI for a conversion it “unwraps” some of the lent out DAI and uses that
5) when a user withdraws their liquidity they withdraw their original DAI stake + trading fees + lending interest - all in DAI

- Nate basically states it was a tough sell helping projects set up their own pool and provide liquidity due to the fear of impermanent loss. v2 made it easier

>> No.21115932
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21115932

>>21115894

>> No.21115937

- Staking rewards is number 1 priority once v2 is out of beta

- Team is looking into making it possible for US user to access with legal dept

- Nate on insurance:
"we have a $500K LP Protection fund that we're announcing the details of soon"

- Nate on pool fee splits
I can provide liquidity to this pool with %100 exposure to LEND or 100% exposure to BNT.
If I am providing liquidity with lend I will receive fees in LEND
If I am providing liquidity with BNT I will receive fees in BNT

Roughly 50% of fees go to the LEND side of the pool, and 50% of fees go to the BNT side of the pool.

An interesting effect of this 50/50 fee split is if one side of the pool ever has more liquidity, the less liquid side is generating higher ROI, so there is an incentive for LPs to balance the sides out at all times.

- Nate hinting at future pools: "that's a fair assumption - that every Chainlink-supported token will have a V2 pool upon full release"

- How can projects incentivise LP's?
Nate:
Projects can set up staking reward programs on their pools.

They can incentivize the base token side of the pool.

Soon Bancor Protocol will start generating staking rewards via the BancorDAO and those rewards will land on the pool as well. So ultimately, as an LP you stand to generate for "streams" of revenue:

1. trading fees
2. project incentives
3. BNT rewards
4. lending interest (a portion of staked liquidity can be simultaneously lent out on aave, and “unwrapped” for conversions & withdrawals)


Jesus fucking christ we are really going to make it arent we. They are waiting to launch ETH/BNT v2 pool but knc, enjin, and aave are coming really soon. fuckkkkkk

>> No.21115939

>>21115911
>slippage is a bit higher than they expected
jesus christ how much better can it get?
it already shits all over uniswap

>> No.21116018

>>21114988
If only there was some kind of decentralised oracle network to mitigate the risk of bad actors.

>> No.21116060
File: 72 KB, 402x344, 1549341241504.png [View same] [iqdb] [saucenao] [google]
21116060

>>21112407
>cap
HELLO WHEN WILL THE LINKBNT POOL CAP BE RAISED PLEASE

>> No.21116077

Aye we looking at SNX mcap here realistically?

>> No.21116091

>>21115939

Mt guess is because all of the trades get routed through ETH as base pair that the ETH/BNT V2 pool will be one of the last ones launched. Slippage is already amazing can you imagine it getting even better?


Check this part out:


Eg:
1) stake DAI in DAI/BNT
2) 80% of the staked DAI is wrapped and lent out on Aave
3) 20% of DAI is used for conversions
4) if the pool needs more DAI for a conversion it “unwraps” some of the lent out DAI and uses that
5) when a user withdraws their liquidity they withdraw their original DAI stake + trading fees + lending interest - all in DAI


So like you can stake a stablecoin in the pool (hopefully) earn fees on it and take 80% of what you are staking and lend it on on AAve to earn even more. This is fucking bananas I might sell all my LINK for BNT at this point.

I don't even like shilling but if the bancor team delivers on everything they promised (so far they have) this might be the first blue chip defi crypto my god.

>> No.21116095

>>21113032
WHEN ARE CAPS BEING REMOVED FROM LINKBNT POOL, I REALLY FUCKING WANT IN

>> No.21116177

>>21115681
Anons are spoon feeding, they don’t have crystal balls. The reaction was exasperation.

>> No.21116288

>>21116060
>>21116095
i rubbed my crystal balls and they said in X days from today, where X is the last digit of this post #

>>21116077
Higher. Re-read what I've posted in this thread. Bancor marketcap must be sufficient to supply liquidity against hundreds of millions, if not billions eventually, in opposing token marketcaps.

>> No.21116305

>>21116091
the only thing that i'm annoyed about is the gas fees when using BNT vs uniswap

i've found it to be 2-3x more expensive

>> No.21116336

>>21116305

I get that but paying more gas doesnt matter if you are trading large amounts of value. Poorfags blown the fuck out sadly.

>> No.21116338
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21116338

>>21116288
perfect thanks

>> No.21116342

>>21113551
I hope this is going to happen. Its time to kill the Defi scamcoin era once and for all.
Too many uniswap shitcoins have popped up this year, with zero usage and crap usecases, and most of them pumped 10x or even higher based on pure hype and gambling fomo.
The market needs a purge. Then people will stop buying shitcoins and meme coins, and money can flow back into the legit coins with real utility and usage.

>> No.21116385
File: 38 KB, 1375x384, biz posts per day.png [View same] [iqdb] [saucenao] [google]
21116385

>>21116342
>The market needs a purge

>> No.21116610

>>21116342

Agreed 100% I just wonder if BNT has stable coin pools...would it hold up relatively ok or crash with BTC like all alts do. I really think people are underestimating how much utility is about to be rolled out for bancor.

>> No.21116638

>>21116177
Appreciate that now - not a noob, but new to BNT. All the smart arses say DYOR, and with some obvious filtering /biz is a good source of info.

It doesn't help anyone to increase the BS filtering one has to do.

>> No.21116659

>>21116638
do you remember the amount of gatekeeping LINK had back in 2018?

>> No.21116668

>>21116385
I miss the down times, fuck new /biz/

>> No.21116740

I've got most of my money in BNT and XSN. What do you think of stakenet OP?