Bancor Network Token
BNT
Signals
Bancor Network Token
Adam Abrams, Head of CommunityThree months after Bancor launched single-sided liquidity & impermanent loss protection, we have released a report analyzing the growth and overall health of the protocol. Read the report: medium.com/@bancor/bancor-v2-1-protocol-health-report-january-2020-83338c904de0 Highlights π ==== Total network liquidity increased almost 1000%, driving $4.48M USD in annualized swap fees. ==== The value of fees earned by the protocol exceeded the total cost of impermanent loss compensation by more than 5X. ==== About 30M $BNT was emitted by the protocol to match single-sided liquidity deposits. This BNT is not minted onto the external market. Instead, it is minted into the protocolβs pools, where it sits earning fees for the protocol until the BNT & accrued fees are eventually burned. ==== Increases to co-investment limits, as governed by the DAO, were correlated not only with rising liquidity & fees, but also increased APY. This suggests that in certain areas of the network, fees are growing faster than liquidity as pools become more competitive in the market. ==== New proposals currently in the late-stages of development by the BancorDAO are worthy of attention. This includes the proposed "Bancor Vortex", which seeks to enable users to stake BNT without taking on exposure to BNT volatility. More: gov.bancor.network/t/bip9-proposing-the-bancor-vortex/354
Bancor Network Token
Adam Abrams, Head of Communityπ Bancor contracts have deployed on Arbitrum testnet @OffchainLabs! π Swaps @ethereum L2 are faster, lower latency & πππ± ππ‘πππ©ππ«! πΌ L1 Swap (200,085): etherscan.io/tx/0xa6f8b3199dba3f93f56412539311dd3e0b691dbabaf96b9d8e583747b92ad005 vs β« L2 Swap (3,961): explorer.offchainlabs.com/#/tx/0x1b3627527efdb7ec4667564d43bf95672cfc71c499aa322c9fcd8b8f687bd445 Interface to test L2 swaps coming soon! twitter.com/Bancor/status/1346127865067294730?s=20
Bancor Network Token
Adam Abrams, Head of CommunityBancor is ending 2020 with a record-breaking month! βοΈ December Highlights βοΈ βοΈ TVL & Volume at ATH βοΈ $BNT listed @Coinbase βοΈ @WEF selects Bancor as a leading crypto βοΈ Integrations @matchaxyz & @zapper_fi βοΈ Rewards added to $SNX & $AAVE pools More: blog.bancor.network/bancor-progress-update-december-2020-1c67316f29a9 The Bancor ecosystem is now beginning the New Year with a π₯! What's next? β Cross-chain @Polkadot β« L2 on Arbitrum @OffchainLabs π² Admin fee via $vBNT πΊ New Roadmap π₯ Team expansion ... and more! See you in 2021!
Bancor Network Token
Adam Abrams, Head of CommunityWe recently shipped a smart contract update that significantly reduces gas costs on staking & swaps. β½ In the example here: twitter.com/Bancor/status/1340649374288916481?s=20 ... the gas on a $USDC π $YFI swap is reduced by 36%! Try it out π bancor.network
Bancor Network Token
Adam Abrams, Head of CommunityVote on-chain for next tokens to receive $BNT liquidity mining rewards! 2 tokens with most YES votes + 66.7% majority will be approved for rewards. Tokens: π³ $JRT @Jarvis_Network π³ $SNX @synthetix_io π³ $OMG @omgnetworkhq π³ $ENJ @enjin π³ $AAVE @AaveAave π³ $NXM @NexusMutual To vote: π‘ Stake $BNT in a protected pool on bancor.network π Receive $vBNT π³ Use $vBNT to vote on vote.bancor.network twitter.com/Bancor/status/1340658305518219264?s=20
Bancor Network Token
Adam Abrams, Head of CommunityExcited to share the first report of @WEF's Global Future Council on Cryptocurrencies featuring Bancor ( $BNT ) among 30 leading use cases of #cryptocurrency powered networks. π Read the report: www3.weforum.org/docs/WEF_Cryptocurrency_Uses_Cases_2020.pdf twitter.com/Bancor/status/1339885599256436736?s=20
Bancor Network Token
Adam Abrams, Head of Communityπ³ BIP8 β a proposal to increase insurance limits on $ETH & $LINK liquidity pools β has been approved by Bancor governance with a 70.96% majority vote & 52.28% quorum. twitter.com/Bancor/status/1339927235268997126?s=20
Bancor Network Token
Adam Abrams, Head of CommunityBancor (BNT) is launching at Coinbase.com and in the iOS and Android apps within the next 5 minutes. twitter.com/coinbase/status/1338971448782827522?s=20
Bancor Network Token
Adam Abrams, Head of CommunityBancor (BNT) is launching on Coinbase Pro! twitter.com/CoinbasePro/status/1338590636069580802?s=20
Bancor Network Token
Adam Abrams, Head of Communityπ₯ Bancor's TVL has crossed $100M! π₯ TVL is up 7X since October as LPs discover the unique benefits of Bancor v2.1: π§ single-asset exposure π§ impermanent loss insurance π§ $BNT liquidity mining πββοΈ Jump in the pools π bancor.network Guide: bankless.substack.com/p/how-to-protect-yourself-from-impermanent