Is there any hope of Bancor recovery?

[Anonymous No.50530394]

Bancor thread. Is this shit even going to work? I don't think it is. Once the market recovers the deficit will just grow faster than they can fill it in. They want to fill an insanely huge deficit with things like a vBNT burn and Yield Throttling. I'm thinking of just taking a haircut. I'd been over a month and no real solutions offered and the DAO forum is a mess with any legit criticism deleted and censored. They all just care about BNT price and don't give a fuck about LP's at all. They shot down suggestions of IOU's to let LP's get out and become whole later with repayments too. These fucks are so short sighted they unironically believe they will just be able to attract new money in to replace the old burned LP's.

When Link staking comes, Link is gonna start rising and the deficit will just grow. It will take years if not a decade to fill in the deficit when the are getting a tiny little trickle of revenue each day from their swap fee's and burn and yield throttle. And yet if you mention this on the DAO your post is ignored or deleted. They want to act like this isn't a race and they have all the time in the world.

So tell me. Am I wrong. Is there literally any possibility that Bancor's plans would actually work in a reasonable amount of time. Or is fucked? I haven't takent he haircut yet. Considering doing it today. For those that took the haircut already how are you feeling about it now? Relief or regret?

[Anonymous No.50530572]

It's over. Cope.

[Anonymous No.50530639]

>>50530572
I suspected it is. I just want to know if other anons think there is any chance, or if their DAI Remittance and Yield Throttling and vBNT Burning plans are just a bunch of cope.

These fucks need to be sued.

[Anonymous No.50530645]

I took the haircut as soon as I could (had to wait seven day) and was extremely relieved.

There's no trust now and never will be. Why would an LP ever deposit again? Where are the fees going to come from?

The only thing that would have worked was if the Foundation had stepped in. Reimburse everyone and then commit to a thorough review and redesign. That they haven't is pretty fucked up given how much they raised back in the day.

Also have a look at this now removed proposal on the Governance forums: https://web.archive.org/web/20220710102652/https://gov.bancor.network/t/proposal-bprotocol-foundation-must-formally-clarify-its-role-to-the-bancordao-as-well-as-appoint-an-official-representative-etc/3773

A tangled web...

[Anonymous No.50530670]

The only ecosystem I'm using rn is Yopi Network. cuz:

>90 days lock for 66% APY
>Play & Earn RPG Games
>There r many features to earn money within the yopi.network
>Few big partnerships coming up

[Anonymous No.50530740]

>>50530645
Checking the thread now.

>Why would an LP ever deposit again? Where are the fees going to come from?
I brought this up the other day and they deleted my posts. I don't know why they are trying to fool themselves into thinking a 20 million deficit can be filled in with a few grand a day in fee's, when the deficit is set to balloon massively when Link staking and ETH merge happens and a market recover is likely sometime next year, and no one will ever deposit on Bancor or use them again either. They just refuse to see things from the LP's perspective. There is not an ounce of care about LP's at all. Every faggot there only cares about the Bancor protocol's survival and the BNT's tokens survival. But are too short sighted to see that they both rely on LP's to survive, and they are happy to chuck LP's under the bus in the meantime. I think their plan is to just reduce the deficit by doing nothing and waiting for LP's to take the haircut, fill it in when it's small, then get new dumb money in next cycle.

And the fact that you can't even bring up the Foundation there without the faggot mods stepping in and defending it because it's a separate legal entity and you can't discuss it here is worse. Suing the foundation is the only way any of us will ever be made whole. Once Link staking comes out I am gonna sue the fucking shits. All Linkies should start a class action lawsuit.

[Anonymous No.50530744]

I really wanted to believe and hung around once the risk of immediate death was off the table. Unfortunately the team seems completely at sea and under resourced..
Still completely in denial about what has occurred and the true scale of the problem they face. Implementation will take more time and then it might be too late. Feeling the imminent onrush of the Link renaissance I finally accepted my significant loss and have moved on.

[Anonymous No.50530832]

>>50530744
Yeah the incredibly slowness from the team to react, and the massive overreliance on getting the community to come up with a solution has been galling to see. Plus I think if I just take the haircut then stake, I'd earn back the losses with Link staking faster than Bancor could make me whole anyways.

God I hate these Bancor kike so much. I wish I had never had the misfortune of coming across Bancor shills. Those fucking shits.

[Anonymous No.50530872]

I should add; Bancor might have saved this if they had an ounce of pr sense. Get up front, take responsibility and get a solution on the table asap. Instead they deflected, waffled and left it to the community (because muh dao) to fix thier mess. Add to that the forced migration from v2 to v3, the total refusal of the foundation to countenance a bailout and you've got yourself a slow motion death spiral due to permanent reputational damage.

[Anonymous No.50530909]

>>50530872
The dumb kikes really took the worst option possible at every turn. I said the same on the forum, that BNT isn't the only thing in a death spiral, they are in an LP death spiral too, as Link staking and ETH merge comes out, more and more LP's will take the haircut and leave, meaning their fee generation shit will also go to zero. But yes you are right, it's a triple death spiral because of the PR aspect too.

How can they be so stupid? I swear crypto is full of savantic idiots. They score 100/100 on financial Jewery and 0/100 on everything else. They are actually low IQ autists.

[Anonymous No.50530937]

>>50530872
I was one of those hit by the v2.1 forced migration. Want to sue the hell out of them if LINK starts moving this year with staking and CCIP.

[Anonymous No.50530975]

I remember back in 2018, seeing Bancor ads, checking the team, bunch of slavs, and thought "lmao what a scam"

It's hallucinating to see people actually get scammed by them and having to take haircut, you are all too dumb to be handling money. Get a professional tard wrangler like an investment manager instead.

[Anonymous No.50530977]

>>50530909
I'm one of few lucky enough to have come out even on bnt. For 2 years I benefited greatly from their money printer and eventually had to roll those gains back into my link loss. I was never a major shill but I did defend them... once the blinders come off reality can be painful. I feel the worst for people who dipped into v3 as their first experience. I've learned a lesson about greed, and trust. And it only cost me 10k link..

[Anonymous No.50531011]

>>50530975
Good for you. I'm impressed by your perfect record.

[Anonymous No.50531036]

>>50530977
I've only made losses on Bancor ever. I couldn't get into V2 as spaces were always full. My Link was safe in my Trezor for years. First time I removed it was to go into V3. I fucking want to kill someone. It was just an instant failure. I didn't even make my gas fee back before it was all gone. Literal instant rugpull.

>>50530937
The forced migration to v3 is such a scum move by them. Sue them. I am. I want to start a class action lawsuit. I think it's a better chance of getting made whole than anything Bancor can do outside of a Foundation Bailout.

[Anonymous No.50531090]

>>50531036
Join the bancor victims telegram. I'm in it but hold no hope of recompense.

[Anonymous No.50531102]

>>50531011
Curious, what was your yearly return for this risk? And I am just saying, if you are going to get scammed, at least have it happen in a more sophisticated one like a DEX or something. You would have been better off staking on Binance at that point. You chose centralization AND lack of reputation and track record.

Also, the Bancor jeets don't care about reputation or their product, they got what they wanted, which is to exit scam when the ponzi popped off. They made their exit, you hold the bag. Take it as a lesson to DYOR

[Anonymous No.50531113]

>>50531090
What's the link too it?

[Anonymous No.50531154]

ACK!

[Anonymous No.50531157]

>>50531102
If you must know I put in 1k link and it went essential went 20x (at current prices) Naturally I have since lost 50% of those gains.

[Anonymous No.50531168]

>>50531113
I'm on my phone. Hit up spudlink in the dao or the lp telegram

[Anonymous No.50531237]

>>50530394
Easy three-step Bancor recovery
>1. Bunch of idiots deposit into Bancor
>2. Bancor gambles big and wins
>3. Bancor doesn’t keep the winnings for themselves

[Anonymous No.50531348]

Just took the haircut. Been psyching myself up for weeks and this thread pushed me over the edge. Thanks. I needed this frens. At least I have what's left of my stack. I've still got enough to make it. I will still make good income from staking. But man I feel gutted right now. I lost so much. This haircut was fucking big. I feel like such a fucking idiot for trusting these fucks.

At least I am back to being confirmed gonna make it though. Just not gonna make it as hard as I would have. I swear I will never trust anything in crypto ever again that doesn't literally have Sergey as CEO. DAO's are a scam. Dex's are a scam. DeFi is a scam. Yield is a scam. AMM's are a scam. Cex's are a scam. unironically literally everything but Link, ETH and BTC are scams. I will never fucking lend my Linkies ever again. They are going in a Link staking node and staying there till Sergey makes me whole again.

Also gonna sue the shit out of the foundation with Link staking gains. What are the realistic chances of successfully suing the foundation?

[Anonymous No.50531394]

>>50531348
I feel you bro. Right there with you.

[Anonymous No.50531425]

fuck rick barber that scamming fuck stole 60% of my link stack
40 heckin K chain link coins
I got circumcised by these bloody grubby kikes

[Anonymous No.50531450]

>>50531425
they call him rick barber because he gives link retards the best haircuts

[Anonymous No.50531453]

>>50531394
I lost about 2 years worth of accumulation. I'm an OG. I lost all the Link I accumulated from about mid 2019 till early 2021 when it got too expensive for me to continue buying.

Fucking hell, gonna have to start accumulating again. I don't browse /biz/ as much anymore because too many shills, what is the general consensus on the market and on staking this year? It's just beta staking and it's not truly gonna enter the singularity until proper staking next year with CCIP right? So I've got a year to try and claw some of it back?

[Anonymous No.50531464]

>>50531425
>lost 40k Link in the haircut.

Jesus fucking christ. I'd literally shoot up Israel in a mass shooting spree if I lost that much.

[Anonymous No.50531474]

>>50531348
My links are in celsius so I'm probably turbo fucked, be glad you got half back

[Anonymous No.50531509]

>>50531474
I am. It hurts but at least I still have my first 2 years of accumulation left.

Sorry for you Link fren. Fucking Celsius is so evil for causing all this. It really does seem like all of DeFi is just a giant scam. I will never trust it again. I heard those fucks are bailing themselves out before their customers too. Just absolute kikery. I bet this shit leads to the space getting regulated. I swear we can't have freedom unless we ban kikes from participating because they just take advantage of it and fuck everything up. It's like the only reason you even need government and authority is purely to ward away fucking kikes so they don't fuck you over with some scam.

[Anonymous No.50531513]

Make no mistake about it
Rick barber is a shabbos goy and same with that dime piece Jen but I would love to nut in her ass tho ngl

[Anonymous No.50531536]

>>50531474
You got holocoasted bro. Sorry for your loss.

[Anonymous No.50531579]

>>50531513
>>50531536
I'm so fucking mad about this frens. Read pic related. Gonna share it because fuck kikes. Getting really anti semetic feelings welling up inside me lately since Bancor rugged me.

[Anonymous No.50531678]

>>50531348
>I've still got enough to make it
How much?

[Anonymous No.50531686]

>>50530394
WITH JEWS YOU LOSE

[Anonymous No.50531727]

>>50531678
It was always 10k to make it and 1k as a suicide stack.

[Anonymous No.50531828]

Lol these fucking kikes just banned me on the DOA forum for insulting them. Fuck these Jews.

[Anonymous No.50531926]

sorry for your losses frens

[Anonymous No.50531973]

>>50531926
>pic

I want to strange these lying fucking Bancor shills. They have destroyed not only my trust in Bancor but in literally anything that isn't Chainlink. I thought all I had to look out for was Pajeets and Bulgarians.

[Anonymous No.50532064]

>>50531727
So the haircut is 50% right? You lost 10k linkies? That has to hurt.

[Anonymous No.50532237]

>>50532064
I don't want to say exactly since wallets can be tracked. But I lost more than 10k Linkies. It hurts hard. I don't know if I will ever recover from the amount of cubes I lost.

But at least I have more than 10k Linkies remaining. I will still make it, just slower and not as hard. Fuck Bancor.

[Anonymous No.50532278]

>>50532237
What would you have done if you lost everything?

[Anonymous No.50532313]

>>50532278
I didn't put all my Link in either. I kept a make it stack in the side just in case as well thank fuck. But had I lost all that I put in, I'd have just used every bit of Link staking to make Bancor members lives hell.

They gave me a deep haircut. I was thinking about giving them a haircut the way native Americans gave people haircuts as paypack. At least I got 50% back, now I will just sue the fucks. But was unironically considering violence for a while.

[Anonymous No.50532314]

Honestly just gonna save up a 10,20,30k and put a price on Nate’s head. Make the foundation either turn on ILP, pay out of pocket, or let the contract go through. In Minecraft of course. Take everything and see what people have to lose. It’s not much money and will make this space more exciting.

[Anonymous No.50532350]

>>50532314
BASED. Put one on Mark and Galia's head too. These DeFi fucks need to realize there are consequences to scamming people. I hate that in the modern world consequences don't apply for the rich anymore. They always pull some kike lawyer to legalese their way out of consequences. And then they scam again. Our system is so fucked.

[42 No.50532390]

Hello frens real 42 here from the Schizo Corporation with another paid post proudly brought to you by Bancor V3!

Dont seeth cope and dilate get your LINK and LPL over to Bancor V3 and enjoy 100% impermanent loss protection guaranteed!

>this paid post was brought to you by Bancor V3 42 and Dont Cope Seeth and Dilate are registered trademarks of the Schizo Corporation, All Rights Reserved

[Anonymous No.50532393]

>>50532313
You feel this way about losing your linkies, do some research on taxes are and how they are used. You will begin to go down a rabbit hole.

[Anonymous No.50532474]

>>50532393
I already know, before Bancor fucked everything up, my biggest worry was how to avoid paying too many taxes and get out of the west fast to a tax haven.

I wonder if I can use the Bancor haircut as a tax write off. No way I am taking another haircut for taxes.

>>50532390
>pic

Moloch shit above them. Fucking kikes. The more I learn, the more I hate.

[Anonymous No.50532496]

You fell for a con.

[Anonymous No.50532691]

>>50532496
Yeah we know.

[Anonymous No.50532808]

this thread makes me sad. it's like finding out one of your old classmates ended up a homeless drug addict. you guys got what you deserved but i still wish things had turned out different.

[Anonymous No.50532835]

>>50530740
Unironically, we are. We are getting lawyers organized now, but it takes time. When lawyers 're ready we will post more info to let everyone join the class. In the meantime make sure you have all previous interactions with protocol catal9gwd nd losses calculated. Also save any evidence of fraud nd save convos with mods.

[Anonymous No.50532879]

>>50532808
None of us deserved it. I never lent my Linkies to anyone before v3 came out. I was literally insta justed the moment I lent them out for the first time.

I just wanted some yield so I could move out of the literal garage I've been living in for the past 6 years. I bought the meme that I wouldn't be able to stake all my Link at first anyways because of Linkpool BS and not having enough LPL. Was gonna use some of the Bancor gains to accumulate LPL before real staking too. Fucking hell it all went so wrong. Fuck these kikes man.

[Anonymous No.50532908]

>>50532835
Based and thank you. I will check /biz/ once a day and just control F for Bancor. I don't want to browse regularly anymore otherwise it's too depressing. But I am awaiting your thread. Once Link staking is out I am happy to help fund any lawyers too. I want my fucking cubes back.

I made posts on the DAO and almost all got deleted though, but I did screencap my losses when I took the haircut. Any other recommendations?

[Anonymous No.50532948]

>>50532879
lpl isn't a scam but its a fucking meme, its literally just people who bought linkpool early wanting bragging rights who push it as the only staking option. I don't think they shill to sell either, its just a "I have it and you don't haha" type thing. Staking is going to be competitive, and linkpool is drastically overvalued relative to link right now, the only way for linkpool to be a better value would be for link to somehow stay extremely low in price for years and staking rewards to be like obscene (20%, higher?), along with absolutely no competition from other staking options, its just not realistic at all.

[Anonymous No.50532976]

>>50532948
The idea of needing to purchase an additional third party token in order to stake is comedic.

[Anonymous No.50533030]

>>50532879
not your keys not your coins. you may not have deserved it from a morality standpoint but you did from the decisions you made. anyways i hope those fucks at bancor get what they deserve too.

[Anonymous No.50534697]

>>50530394
>They shot down suggestions of IOU's to let LP's get out and become whole later with repayments too.
Their plan is to have the doubters take the haircut and leave, since that reduces the debt.
They already know they lost the trust of the people who want to leave, so there's no point letting them leave freely.

[Anonymous No.50534891]

>>50530740
>Every faggot there only cares about the Bancor protocol's survival and the BNT's tokens survival.
BNT holders will naturally favor the course of action that minimizes risk to them, even at the cost of fucking over LPs.
LPs are locked in and can't do anything besides FUD and make toothless threats against Bancor.
If most of the LPs take the haircut and get rid of Bancor's debt, there's at least the hope of newfags buying in next bull run.

>>50531348
The kikes won.
Thanks for the money, goyim.

[Anonymous No.50535297]

>>50530937
>if LINK starts moving this year with staking and CCIP.

[Anonymous No.50535635]

>>50531450
kek

[Anonymous No.50535686]

serves you motherfuckers right. this was the reason why link performed so weak during the bull and was suppressed so hard.

[Anonymous No.50535698]

Legitimately, no. It will never recover. Hopefully all of you recover the max amount you can and sue these parasitic scammers but the protocol itself is dead.

[Anonymous No.50535712]

>>50530394
lol. haircut time faggot. bnt is trash and you get what you get.

[Anonymous No.50535723]

>>50532976
>he has never heard of CRV

[Anonymous No.50536219]

i've been reading these types of seethe threads for years now after people got scammed and rugpulled and it's always the standard death threats and suing threats. seems to me like every crypto scammer gets away with it in the end anyway. nothing will happen to the bancor devs and this will all be forgotten in the next hype phase. a new set of retards will appear who wants to make money doing nothing so they give away they're tokens kek

[Anonymous No.50536350]

It just might but I wouldn't bank on it
The team is wholly incompetent at PR, blaming the customers for their flawed design
But crypto memory is very short and if we enter a bull market in a year anything is possible
This has taught many anons the lesson of risk management and position sizing - what is a maximum percentage that you can stomach losing due to smart contract risk?
But Sergey isn't free from blame either, he publicly told us that if you are not earning yield on your funds (in defi) you are missing out
I'm happy that assassination smart contracts just came this much closer to being a reality, it will definitely change the relation executives have to their constituents (in a good way for the consumer c: )

[Anonymous No.50536705]

>>50530394
>They all just care about BNT price and don't give a fuck about LP's at all.
Well, if they can make bnt say a 4-5 dolla token, they can save the lps by selling bnt, but this is pure fantasy.

[Anonymous No.50536785]

>>50535698
This, it cant "recover". It can only be bailed out, the foundation has plenty of money to do this but for obvious reasons will not.

[Anonymous No.50536807]

>>50536219
This, particularly bancor, this is a fully self doxxed massively funded construct that is based legally with the mountain jews.
There is zero recourse.

[Anonymous No.50537150]

These kikes have banned me on TG and Discord for hurting their feelings. Absolute shady bunch

[Anonymous No.50537288]

>>50537150
Same. I actually believed in this project and the team until I saw how shady they’ve been in response to this shit. I wasn’t planning on taking the haircut but I’ve been out for a couple of weeks now. I don’t know if Scamcor will survive but I’m definitely never using them for anything ever again. I guess I learned an expensive lesson. Never staking my shit anywhere ever again.

[Anonymous No.50537405]

Thank you Bancor supporters. Hopefully you are in good health. Some updates are on the way. I understand there is pain and disappointment. We are working very hard to make this right. Please shut the fuck up, sit the fuck down and wait.

And yes there is chance it's all over. Next time don't invest more than you can lose.

[Anonymous No.50537444]

>>50537405
Fuck you and fuck your mother, Mark.

[Anonymous No.50537477]

I saw Bancor V3 had unlimited deposits so the moment they opened it up I sent my stack which had been sitting on my wallet for years doing nothing. Then I realised they didn't even open up staking rewards so that APR% at the homepage is just a theoretical yield to bring in new people like me into their system. Now IL is removed but at least I can withdraw most of my tokens and treat it as a withdrawal fee.

[Anonymous No.50537730]

I'm kind of watching my loss increases everyday but I'm still hanging out. Not a great feeling but I'll at least give them a few more Sundays. I'm hoping for some better news on telegram today.

I'm still besrish in general so that helps but I'm losing my bear resolved because there's no good reason for us to be pumping like this when this week is besrish as fuck.

[Anonymous No.50537960]

>>50532314
>>50532313
you;ll both do nothing :)

[Anonymous No.50538086]

>>50537960
how about everyone crowdfunds 10 link into a chainlinked bounty smart contract for the heads of the ones involved
For someone, somewhere, it will eventually become game theoretically optimal to do the needful

[Anonymous No.50538143]

>>50538086
ok go do it lmao

[Anonymous No.50538166]

So with the haircut deal does Bancor simply not have the tokens to give back or are they holding all the haircut tokens out of greed?

[Anonymous No.50538204]

>>50530740
>sue
can you sue a company which has gone bankrupt (which they will do)? It literally means there's no money there to sue for. I don't think you can sue anyone personally for it, only the company. I'm not a lawyer, though.

[Anonymous No.50538363]

>>50530394
>They all just care about BNT price and don't give a fuck about LP's at all.
that's the most important aspect of the platform, high price attracts users
but money doesn't come from nowhere, especially in a bear market, so if I have to choose between the price of the token and making LPs happy, I'm choosing the price of the token
I know from personal experience that once LPs start panicking nothing will work to restore positivity
I wish I had taken action sooner to protect the platform's capital from them instead of trying half-hearted measures to try to pacify them

[Anonymous No.50538400]

>>50530740
>I think their plan is to just reduce the deficit by doing nothing and waiting for LP's to take the haircut
thanks for taking the haircut OP, get fucked

[Anonymous No.50538433]

>>50530639
i know you love to fud your own bags but jesus christ

[Anonymous No.50538556]

>>50538204
how can they declare bankruptcy with all the cash they're sitting on and no debt? this path is viable specifically because they have the money to recover all pools and choose not to use it

[Anonymous No.50538813]

>>50536350
>assassination smart contracts
Assuming this ever comes to fruition, would this really change anything? Because the question of how an assassin would get away with it remains the same. Let's say target A is eliminated and payout is automatically distributed, how does this change the question of how the assassin will escape being captured/killed?

[Anonymous No.50539427]

>>50536350
>I'm happy that assassination smart contracts just came this much closer to being a reality, it will definitely change the relation executives have to their constituents (in a good way for the consumer c: )

>be anon dev
what now, nigger?

[Anonymous No.50539442]

>>50531348
>>50530394
>>50530645
>>50530740
>>50531090
>>50532237
>>50532314
>>50537405
>>50538813

Reminder: the team is made up of real people, with real addresses, with real and regular sleeping schedules.

[Anonymous No.50539505]

I'm on their call right now and honestly it's all sounding totally clueless. It's like there was a brain drain

[Anonymous No.50539524]

>>50530394
two more weeks!!!!!!!!!!!!

[Anonymous No.50539555]

>>50531348
LMFAO SCAMMED LOL RETARD

[Anonymous No.50539568]

Their big idea is to create a list of ideas?

[Anonymous No.50539576]

>>50531453
hahahahahahahahahahahhaha
>>50531509
these are centralized exchanges not defi you fucking retard no wonder all you retards lost everything you dont even know what defi stands for haahhhaha

[Anonymous No.50539597]

>>50532237
hhahahahahhhahhhahhahahahahhaahhahahah

[Anonymous No.50539606]

>>50530975
>hallucinating
do you not know what that word means?

[Anonymous No.50539610]

>>50532879
>None of us deserved it.
you literally gave your link to strangers hahahahahahahhaha

[Anonymous No.50539620]

>>50537730
>I'm kind of watching my loss increases everyday but I'm still hanging out.
HOLY FUCK IS THIS A REDIT THREAD??? ahahahhaahhahahahahahhahahhhhahhahahhhahahahahah

[Anonymous No.50539639]

>>50532313
Accumulate as much as you can at these prices. You've still got a good stack to add to

[Anonymous No.50539664]

>>50539620
It's really kind of hit a plateau so I'm just watching cautiously. At the current point I don't see any reason in withdrawing yet.

[Anonymous No.50539789]

https://twitter.com/Here2DeFi?t=HO6iY_oD3Q_a230lGfrzcg&s=09
This is who is running the spaces call for some ungodly reason. It's over

[Anonymous No.50539882]

>>50539442
you won't do shit
SBF is still alive and raping the shit out of the market daily

[Anonymous No.50539974]

>>50539882
>you won't do shit

Why would I? I didn't get rekt in bancor. If I lost 40k link because of some bullshit an exchange did, I would be uninstalling minecraft.

[Anonymous No.50540740]

Biggest piece of shit has to be that Mark Richardson. He lied to people that the protocol was profitable and even now says that it’s going to be okay. He’s a literal piece of shit liar; sad as we thought he was a good guy.

Fuck you Mark.

[Anonymous No.50540993]

Can I get a QRD? What went wrong? And why is everyone losing their stinkies

[Anonymous No.50541056]

Holy SHIT.
I actually prayed to God to guide me and enlighten me and bless me after studying Judaism all night, and that night I had a dream about Bancor.
Thats what made me start paying attention to Bancor threads and notice what was happening.
It all makes sense now.
This is the one.

[Anonymous No.50541156]

>>50540993

Basically they claimed that Bancor’s IL was mostly being outpaced by trading fees and that the system could handle withdrawals.

When withdrawals happened the protocol collapsed and became insolvent. They blamed Celsius, but it was also revealed the team had lied - the system was always insolvent as IL mostly outpaced trading fees. Therefore even a normal % of withdrawals in a bear market would have had the same effect.

They lied and got rich. Mark Richardson made it worse by LARPing as a good, intelligent guy who’s an advocate for DeFi. He’s actually one of the biggest retards I’ve seen. Just a technical autist. He’s a disingenuous piece of shit. If you’re reading this Mark, you should just mill yourself.

[Anonymous No.50541168]

>>50541156
kill yourself *

[Anonymous No.50541554]

Bancor is such a tragic comedic sight.
If I was an lp staker, yes, I would take those 700 linkies dposite them on a lending protocol, short them and use the money to murder Bancor foundation employees and their families

[Anonymous No.50541946]

>>50541554
>going to jail over 700 linkies

[Anonymous No.50542029]

>>50530394
Imagine buying the coin after 2017

[Anonymous No.50542083]

>>50541946
that is a yearly middle class income in 80% of the world

[Anonymous No.50542112]

>>50538813
poison
>>50539427
start with the public ones and work your way up

[Anonymous No.50542136]

>>50542112
>poison
If it was this easy, why aren't more people getting assassinated with poison right now?

[Anonymous No.50542157]

>>50542136
the economical incentives aren't there yet

[Anonymous No.50542223]

>>50542083
>link is held by shitskins

[Anonymous No.50542262]

>>50542136
technical implementation for proof of kill is pretty easy as well
It's similar to how they did VRF but you need deco or TC. The prospective assassin signs a transaction (with some collateral) with his planned kill date encrypted by his private key (some tolerance here, maybe 1 day in both directions) which gets escrowed by a smart contract. After the kill is confirmed by the oracle network, he decrypts the encrypted date stored in the smart contract, proving that he knew the date ahead of time, and is allowed to withdraw the bounty+ his escrowed collateral
killers who fail get their collateral added to the bounty

[Anonymous No.50542283]

>>50542223
most diverse token in the market, happily promoting and propagating the schwabian new transhumanist liberalist feudalism

[Anonymous No.50542678]

Mark Richardson, eat a dick you alcoholic Aussie.

[Anonymous No.50542688]

>>50531348
I think it was you who posted he was putting his 50k Link into Bancor v3 and I called you awfully keen at the time... Sorry bro.

[Anonymous No.50542793]

>>50538204
>sueing is just about money
they will be sued so that they can rot in jail
so that they will have what little remains of their youth wasted behind bars, not getting to escape to israel and live out the rest of their days happily without a care in the world

their suffering (legally or in minecraft) is extremely important

[Anonymous No.50542837]

>>50530394
After a month of nothingburger announcements and the discord being heavily censored... yes, it's over.

[Anonymous No.50542871]

>>50542688
No I never posted here about putting my Link in bancor at all. I've mainly just been lurking for the last 2 years.

[Anonymous No.50543000]

>>50538363
And this is why I will never LP again.

There are fundamental incentive misalignment that cause every actor to always side against the LP's. The Yield reward is simply too small to be worth it, and the risk of LP'ing anywhere is massively understated. Dex's are a failed scam until a method that doesn't involve LP'ing exists.

[Anonymous No.50543026]

>>50539442
>>50536350
People have been talking about this for years though. What is the hold up? Assassination contracts really would go a longway to help this space though. Literally every single crypto and DeFi dev needs to have a contract put up against them just by default with some low amount, to fucking light the fire under their ass and prevent them scamming. Then if they actually do still scam, load up the open public bounty fund until someone goes to claim it.
>>50538813
That's the assassin's problem not the smart contracts problem. IRL assassins still exist, people still get murdered all the time and cops can't solve/catch who did it.

[Anonymous No.50543034]

>>50543000
synthetics. gns trade

[Anonymous No.50543139]

So many times I would say that the BNT token was unironically not needed and the entire protocol was useless, Bancor could disappear out of nowhere one day and the whole crypto sphere would still function as usual. Bancorlets would rage and call me a faggot but who’s the faggot now, get rekt

[Anonymous No.50543173]

didnt this rugpull like 5 years ago? why are retards still holding it? they are worse than the gme baggies

[Anonymous No.50544651]

>>50531926
holy fucking shit that pic

[Anonymous No.50544927]

What kind of fucking retards put their money into retarded schemes like this?

[Anonymous No.50544930]

>>50538433

[Anonymous No.50544990]

>>50530394
Yes, hold out.

[Anonymous No.50545017]

>>50531453
>when it got too expensive for me to continue buying
When I hear anons mention this, I know for sure they still don't understand chainlink
There is NO price that's too high for LINK, all that matters is whatever the price is, you buy as much as you can.
The price is irrelevant, passive staking returns is the goal.
Thread disregarded, you deserve to lose your LINK while you were warned, sold out other marines for an APR that was too good to be true
enjoy your haircut
>pic related

[Anonymous No.50545032]

>>50545017
are you a bot or just so justed that you larp as if you made it?
>>50545013

[Anonymous No.50546768]

>>50531926
>>50544651
I've been out of the loop for a while, can I get context?

[Anonymous No.50547364]

>>50546768
i was telling people to get their shit off bancor for a while and bancor employees called me a retard

[Anonymous No.50547413]

>>50547364
thanks

[Anonymous No.50549109]

>>50530394
If you are not a Bancor team member or good friends with one I'd guess you are fucked. Obviously they will make sure they are are ok though.
I'm curious is the haircut the same for all pools or is there just a shortage in certain pools?

[Anonymous No.50549128]

Can someone give me a quick rundown on this, why are people losing money?

[Anonymous No.50549240]

is there a way to see which pools have the worst deficits?

[Anonymous No.50549365]

test

[Anonymous No.50549786]

>>50549128
Because it was a stupid ponzi, like literally everything in defi. It's just that blockchain allows the addition of a few extra steps that muddy the definition of a traditional ponzi.

In Bancors case, their claim was they "solved IP" through the incredibly genius method of - printing BNT tokens and giving them to poolers who suffered IL. GENIUS. Who could have ever thought? But it doesn't matter, people buy Bancor right? They need it to pool tokens with.

It works alright until hard times hit, and a lot of people want to exit the system, then suddenly the rug is pulled and the floor disappears from beneath peoples feet. Everyone is selling bancor to scrape back their horrible IL from bad market conditions, and the lower it goes the more BNT needs to be printed to offset IL, until once again you get into a death spiral and the project collapses.

Its the exact same bullshit that keeps happening over and over again, albeit in slightly different forms. It turns out everyone is fucking retarded, and you can just change one or two things or add an extra step, and nobody can see its a ponzi anymore.

[Anonymous No.50549811]

>>50549786
What they will try next is probably an algo stablecoin. So instead of printing worthless BNT, they can give people a "stable" with a fixed dollar value. How is the stable going to be collateralized? Who cares you gay nerd, its not stopped Iron/Titan or Terra/Luna.

[Anonymous No.50549909]

>>50549786
That's not entirely true. IL is paid out in TKN as long as there isn't a deficit in the pool (lol). Their primary mistake was the change from individual positions with individual IL protection based on holding time in their pursuit of gas minimization

[Anonymous No.50550067]

>>50542262
>After the kill is confirmed by the oracle network
Oracle networks will all break in this circumstance, as they are not operated by criminals, and the incentive for making correct judgments of reality is the expectation that this judgment will be regarded by the community as the legitimate one. A judgment resulting in payment of an assassin will not be regarded as legitimate, the people staking on it are mostly doing so publicly and won't be willing to be party to a serious crime.

[Anonymous No.50550579]

>>50549786
every last ponzi needs to die and every retard needs to leave before chainlink moons

[Anonymous No.50550916]

>>50550067
incorrect
the same feeds could be used to trigger life insurance payouts, data is neutral

[Anonymous No.50550931]

took the haircut after this thread. Lost 500 link so not much compared to other here but fuck them anyways

fucking jews

[Anonymous No.50550939]

>>50550067
Furthermore through deco, you could obscure which smart contracts are utilizing this specific oracle service, the node operators wouldn't have to know that they are providing data for assassination contracts

[Anonymous No.50551191]

>>50550931
it's the best thing to do

[Anonymous No.50551216]

>>50550931
what is the haircut? you just take impermanent loss like you'd have taken in any other LPs, or there's something more?

[Anonymous No.50551221]

>>50539664
>It's really kind of hit a plateau so I'm just watching cautiously. At the current point I don't see any reason in withdrawing yet.
if you stayed in this long, then yeah, but it also depends on how much you can tolerate loosing.
There is a very real chance whatever you have remaining will go to zero. I do think the foundation won't let it fail totally, they just won't bail out the current debacle, but i could be wrong, they might just say fuck it, it failed totally and abandon it and start over.
The only thing that would prevent this really is that the devs themselves likely hold massive amounts of BNT that if they could somehow save is likely worth many 10's of millions for them.
I capitulated and pulled my bnt stake(85k) and converted it to eth. At times that stake was worth considerable money but I feel(100%) that eth doesn't have a top over the next few years, it will probably break through 10k within 12 months, so fuck it.

[Anonymous No.50551248]

>>50538166
>So with the haircut deal does Bancor simply not have the tokens to give back or are they holding all the haircut tokens out of greed?
both.
replace greed with fear of total failure though, i don't think its quite as simple as that.
there were claims here, with no evidence, that "known dev wallets" had pulled stakes prior to the ILP kill action, but unclear if this is real.

[Anonymous No.50551265]

>>50538556
>how can they declare bankruptcy with all the cash they're sitting on and no debt? this path is viable specifically because they have the money to recover all pools and choose not to use it
the ways of the lawyer are crooked and difficult.
for sure they could make this happen.

[Anonymous No.50551273]

>>50538166
bancor never had the tokens, they always printed out to cover the value of the impermanent loss. until big players started to abuse the system and it started to hurt the price severely. hence "extreme market conditions"

[Anonymous No.50551290]

>>50538166
>>50551273
i mean it worked pretty analogous to UST. they just shut it down in time before it could destroy bancor like UST destroyed LUNA, but it's not like they have a way out of this and can ever actually re-enable it in the future.

[Anonymous No.50551307]

>>50545017
>>>when it got too expensive for me to continue buying
>When I hear anons mention this, I know for sure they still don't understand chainlink

This. So what if the price is $50 when you know the price will be $50,000? That's still a x1000 gain.

[Anonymous No.50551315]

>>50541156
>Basically they claimed that Bancor’s IL was mostly being outpaced by trading fees and that the system could handle withdrawals.
this was obviously never true, dune analytics was showing for months at a time 2.1 was trading like less than 1k a day lol.

>When withdrawals happened the protocol collapsed and became insolvent. They blamed Celsius
you skipped a step, it was celsius market dumped the very very very substantial bnt rewards they had accumlated on there mega stakes that started the protocol collapse.
THEN they withdrew those mega LP's of the big 6, wbtc, eth, link, tether, dai, usdc.
All of which had catastrophic IL, the protocol was always doomed when there were zero cap deposit limits...

[Anonymous No.50551342]

>>50551290
>ut it's not like they have a way out of this and can ever actually re-enable it in the future.
if they wait long enough, they can, it literally could be years though.
Or they have to liquidate the protocol treasury(plainly described in the white paper) which they claim does not exist...

[Anonymous No.50551387]

>>50551342
>if they wait long enough, they can, it literally could be years though.
how? IF the prices of the LPs in question start to diverge even harder, the ILs will only ever grow. IF they get lucky and the ILs shrink i guess whatever but that assumes a lot. it also probably assumes serious amount of new funds are gonna be deposited to bancor before the existing accounts are reperated

[Anonymous No.50551423]

>>50551387
if enough LP's leave, then problem solves itself.
whenever it turns back on, there will be lots of limits and guardrails in place.
you underestimate greed...

[Anonymous No.50551685]

>>50551423
>they will turn it back on, because as time advances more and more people will be forced to accept the loss and remove their funds
ok...

[Anonymous No.50551779]

>>50551685
there will be a tipping point.
i got out of this thing basically flat after 18 months of staking, i just don't think it will fail totally, its going to go on eventually.
a few years falls off the calendar fast, this will literally all be forgotten in a few years tops.
im not saying its right...but the lure of free money will never go away, the whole curve/celsius/nexos/voyager cycle will happen again, gauranteed.

[Anonymous No.50552119]

>>50551216
just il, but instead of having two token, you have one and get double fucked

[Anonymous No.50552420]

>>50531579
>Read pic related
what a load of nonsense. can't believe retards like you believe any bs they read as long as it fits their agenda

[Anonymous No.50552460]

>majority of LINKtards failed to predict something as obvious as the fall of celsius and bancor

Really makes one question their far-fetched theories about the importance of LINK, doesn't it?

[Anonymous No.50552491]

>>50531348
You are a low conviction pussy and will never truly make it.