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24613280 No.24613280 [Reply] [Original]

So /biz/ why aren't you pooling on a legit project with insane APY?

>> No.24613487

Bump

>> No.24613506

>>24613280
>>24613487
useless to hold unless you are going to provide liquidity.

>> No.24613535

>>24613506
Providing liquidity gains you up to 500%

Why wouldnt you?

>> No.24614361

And it's not a degen rugpull scam play

>> No.24614612

>>24613535
Can you explain more, like i went into dual side bnt/usdc almost a month back, right now if i withdrawl it will be even money, literally, and thats on 10k each side and they apy is like 1%. What is the bait and switch here?

>> No.24614633

>>24613535
>Providing liquidity gains you up to 500%
yes totally believable yes 500pct gains for just holding a token in a contract oooh yes.

>> No.24615154

>>24614633
Check the website

>> No.24615220
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24615220

>>24614633
>>24614612

>> No.24615239

they are just brrr'ing BNT into existance to pay that insane apy. same with their IL protection. not gonna be sustainable.

>> No.24615329
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24615329

Is Galia still involved? She's cute.

>> No.24615391

>>24614612
How much is your current APR anon?

>> No.24615639

>>24615239
Thats how i feel about most of these yield farm projects, they eventually die when nobody wants to buy the farmed tokens anymore.

>> No.24615681

>>24615639
BNT is a much more professional project though

>> No.24616514

>>24615391
< 0.000001 USDC
0.29%
1d
1.28%
1w
3.53%

>> No.24616873

>>24616514
Wouldn't that add up to 200%+ progressively through the year?

>> No.24616986

>>24616873
I am retarded.

For a couple reasons, short of a rug, really should just go all in here right?

>> No.24617089

>>24616986
Haha, no worries.

Idk anon, I'm not really shilling was hoping for more of a discussion, but I bought in and started LPing. As far as DeFi projects go I think this one is legit and has high rewards at the moment.

>> No.24617627

>>24617089
I don't know either, I have 20k usd bancor pools and I guess if it really is 1% per day and you get full imper loss protection after 90 days, i should be going in deeper on this and not just toe dipping. I wish I understood it better..

>> No.24617668

>>24615639
>Thats how i feel about most of these yield farm projects, they eventually die when nobody wants to buy the farmed tokens anymore.

is that what happens here? genuinely do not know, I didn't think they were minting BNT here, the contract does not allow no? the BNT is coming from somewhere though.

>> No.24617834

>>24617627
Yes they are printing more bnt and giving it out proportionally to liquidity providers. This way the incentive for bnt holders is to stake more and more. It also guarantees liquidity and use for the token since it's the backbone of the protocol.

>> No.24617950

>>24617834
More liquidity -> cheaper trades -> more trades -> more fees earned -> more liquidity

The bnt tokens printed are not just a farming pumpamental, its to attract initial lp's to start using the platform. Even if the rewards go down over time, there still is a solid exchange to use, regardless.

>> No.24618174

>>24617950
so is single side vs dual side different?
The dual side payout is pool tokens.
The single side is self explanatory.

Is one way or the other obviously better?

>> No.24618355

>>24618174
It should be the same. As far as I know there's no pool tokens anymore and you just insert your tokens in the system, could be wrong tho. The only big difference you should pay attention to is bnt rewards are way higher than the token that it's paired with so it pays to stake in bnt.

>> No.24618973

>>24613506
>you are going to provide liquidity
liquidity for which pairs?
What about impermanent loss?

>> No.24619030

>>24615220
Could you explain this to me please?
You put Link and Bancor in equal ratio and what is the APY?

>> No.24619472

>>24618973
>What about impermanent loss?
so, there deal is, if you stay in the pool for 90 days, they give full imperm loss protection via the fee structure.

>> No.24619538

>>24619030
>>24619030
i can't say for link, not in that pool, but the USDC pool and its 268% / 76% and the payout is ~1.2% daily/3.52% weekly.

>> No.24620664

>>24615239
>>24615639

You’re both <70 IQ. This is what happens when new concepts come around, people see one word they understand and just trifle it away. Was the exact same with dexes/ AAVE/ LPs/ Yearn/ yield aggregators etc.

It’ll be trickled down eventually in layman’s terms, but for the people who are genuinely curious how it works on the single side:

You deposit a token e.g LINK to a pool
Protocol mints equivalent BNT to match your deposit. Your token and the minted BNT are now a LP. You earn your fees doing fuck all, while the fees from the matching BNT side are used to cover the IL. That matching BNT is “confined” to the LP. It’s not circulating or traded. This burning brings a deflationary element against the “inflationary minted LP BNT”.

You are insured for 1% a day against IL, and after 30 days, you are entitled to claim your insurance (in this case 30%).

Currently there is liquidity mining to incentivise providing liquidity; however Bancor isn’t the whore that is uniswap. It doesn’t let just anyone add to the dex. You have to be white listed via a proposal and a community vote (via vBNT; the token you receive when you lock your BNT into staking). Also, from what I heard down the grapevine, these vBNT holders will be entitled to an admin fee, increasing more value to the protocol.

Bancor invented the AMM via their constant product protocol back in 2017. Uniswap just put on a new label and let anyone list; bringing on those scam runs. Now Bancor is innovating again with this protection against IL; like they did before. Always bet on the innovator.

I’m in with 55k BNT and 85% of my link stack, just over 46k atm. Eventually, once people see that the IL protection by Bancor is legit (many are at 60/100 cliff period) it’ll rip through. It’s the same scenario as usual,where those who actually understand will benefit the most. No crypto Twitter is gonna do a 20 post thread on ILP + elastic supply lol. It’s quite simply, DYOR.

>> No.24621420

>>24619472
>if you stay in the pool for 90 days, they give full imperm loss protection via the fee structure
How to avoid impermanent loss and when does it occurrr?

>> No.24621596

Bancor is literally unstoppable... it's happening!!!

>> No.24622266

>>24620664
>Protocol mints equivalent BNT to match your deposit
why should protocol do this?
>retarded here

>> No.24622304

>>24613280
KEK THE BAGHOLDERS ARE STILL TRYING TO SHILL THIS OBVIOUS FAILED PAJEET SCAM

>> No.24622338

>>24621420
24620664 explains, he is big brain.

>> No.24622769

>>24615239
>they are just brrr'ing BNT
no

>> No.24622841

>>24618355
>The only big difference you should pay attention to is bnt rewards are way higher than the token that it's paired with so it pays to stake in bnt
so it's not dual pooling?
Example you pool Eth/BNT

>> No.24623157

>>24622266

Go research the basics of being a liquidity provider on an AMM. I mentioned it before about the constant product protocol.


>>24622841
What Bancor is doing with v2.1 is that yea you can do the standard BNT/YLn dual supply like any other LP, except you’ll avail of the liquidity mining going on right now (xx or xxx apy), and you’ll receive admin fees when that goes live. That’s not announced yet, just from reading their governance + proposals.

You cannot provide a single sided stake to any liquidity pool anywhere atm, except for Bancor. It provides the other part of the pool for you, and uses the fees earned by being an LP to cover your IL. I explained it above. It will gradually spread down once people can deliver it in single tweets to smaller holders, like everything Ng. Back in 2017/18 people laughed at dev users, thinking it was for die Garda and theory maxis. Then a microcosm of the adoption cycle occurs amongst crypto users. Look at how many more people are comfortable and actively seeking apy/ yield with their stacks now compared to even 9 months ago.

>> No.24623498

>>24623157
so what do i do here anon, you are basically saying the right move is to sell everything into BNT and stake it right?

>> No.24623530

>>24623498
like even the stuff I have in dual side, I should just take that out, sell the other asset, in my case USDC, and go all in BNT?

>> No.24623683

>>24623498
No. Bancor enables you to stay long on whatever asset you want, without having to compromise to a 50/50 split to earn fees as a LP. I’m not going to tell anyone to sell their anything for BNT if they wish to stay long on it. I’m in the USDC pool a bit as well, on both sides. I’m very bullish on Bancor though, and especially how they approach and deal with obstacles. People seem to wait for Bancor to pioneer the solution, then steal it with a new label. You can see this now with RUNE as they ask their community about IL protection etc. Seen it before.

BNT gives higher yield on fees + higher yield on LM + admin fee + probably discounted trading down the line. If that, in line with whatever you think Bancor is capable of (team and protocol) then go ahead and get more. Don’t go all in just because of one post on biz.

>> No.24624473

>>24613280
Insane apy my ass

>> No.24625086

The apy is insane right now but take advantage while you can. Been watching Bancor for a while on defi pulse and slowly but surely more and more liquidity is being added to the platform, was at 78mil last week at 92mil tvl now. When the marketing starts and people start seeing what they've built it's going to take off like a rocket but hard to tell if that means take off 1 week or 1 month or after liquidity mining drops completely and everyone can see the rewards you can get there.

>> No.24625423

The trigger for this will be when the liquidity mining rewards are actually visible in the UI, in a couple of weeks.
I've been making about 80% on my LINK and 300%+ on my BNT since the LM program started, but until people can actually see number go up we're not going to get mass FOMO.
Every day that goes past is proof that the protocol is secure, the amount of progress that is made every week, from governance to ironing out the UI, is immense.
I'm not saying Bancor is a lock, and the AMM market is competitive as fuck, but in a world where people are losing money daily on retarded rugpulls, I think people are crazy not to be putting money in a completely legit project that is constantly improving AND offering large returns (for the time being).

>> No.24626339

Id rather provide LP for sushiswap. There is no volume on Bancor. Its just not worth it. I am getting 2 SUSHI a day with only 5k in eth/dai pool. And 2/3 I will get in 6 months. Sushiswap has plans with Yearn.finance. Bancor is ugly UI, no data, very low volume, and to prevent impermanent loss I have to lock my shit up for ages. Hard pass. If you want crazy APY look into powerindex.io and / or cream. Bancor is only where it is because of the huge initial investment.... and this is the best they could come up with... Your small discord posting these same useless threads every 2 or 3 days. Nice try guys.

>> No.24626434

>>24626339
>to prevent impermanent loss I have to lock my shit up for ages
That's the whole point. That's what stops people from draining the protocol by taking out more IL coverage than they provide back in stable liquidity.
Eventually every AMM will copy BNT's IL insurance idea, there's literally no reason not to. It incentivises long term liquidity provision, removes a massive cost for LPs, and costs the protocol nothing.

>> No.24626468

I heard the project was made by a woman, and worse, a feminist. NO THANK YOU MA'AM.

>> No.24626666

>>24626434
Not going to lie I was going to throw 4 or 5 ETH into the ETH/BNT pool but my rewards are only 30% because I didn't provide for both sides and while the rates look insane. There is no actual volume. Once the bonuses end. The people will leave. Like always. Plus the fees on Bancor are higher than UNI. Try it yourself.

>> No.24626798

>>24626666
You don't have to provide for both sides

>> No.24626850

>>24626666
"only" 30% on a platform that is not going to rugpull you. Even if you just get in for the first 12 week liquidity mining phase and bail straight after (which many people won't do because they get a rewards multiplier if they stay staked), why not do it?
If you're constantly trading shitcoins then sure, LP is not for you, but if you're long on any project for 3+ months then Bancor is by far the best place to park your money at the moment.

>> No.24626986

In 62 days when the lockup is done. Everyone gets BNT. Everyone who already bought BNT will be racing to cash out. Everyone who earned BNT will want to cash their reward. Once the bonus is done the liquidity is gone. What then? More bonuses? More BNT rewards? New people have a hard enough time understanding UNI let alone Bancor. Bancor has < 100m in liquidity and only 2 m in volume. BASE /ETH pair on UNI has 5m liquidity and 217m in volume LOL why wouldnt you want useres to have the ability to add any pair? Just the ETH/WBTC pair on uni has 100m more liquidity and 3x more volume then all of Bancor. Confusing things with BNT doesnt help the average user. Sorry mate.

>> No.24627079

I am but most of my fund are in DIA which is the retirement hold.

>> No.24627117

>>24626798
I know you dont have to provide for both sides. But if you only provide for one of the sides you do not get the full bonus. Only 30% of the bonus.

BNT side gets 70% of bonus and non bnt side only gets 30% of bonus and dual liquidity gets 100% of bonus.

I hope you are right for your sake. But I dont see BNT having anything special. I am staked in ETH and DAI on uni and I am getting crazy returns on sushi and SUSHI is actually going up. If I wanted to take a risk I would put more into powerindex.io or cream. BNT went up a bit when ppl bought it for the bonus to provide LP. Since then its steadily been going down. I do not understand how you can not see that.

>> No.24627169

>>24627117
> typo not UNI but sushiswap*
If you want a 3+ month project look at powerindex staking DeFi and Ceazor did a vid. Someone else posted about it here. I am up big on that. and its early.

>> No.24627540

>>24627169

Sounds like you want people you can rugpull and you don't get that on bancor

>> No.24627960

>>24627540
No I am saying use SUSHISWAP, not BANCOR. If you want high yields in an early project use Powerindex.io youtube DeFi Dads turorials or Ceazors video on Powerindex. The yield is 500% apy or put your ETH on CREAM for another high APY. You make these threads every other day. I hope you will still make them in 12 weeks. Hopefully BNT changes course and is profitable for you.

>> No.24628144

>>24613280
didn't bancor get hacked once or twice
makes me hesitate using them