Hi guys, I iniated withdraw yesterday before this news of

Question

Hi guys, I iniated withdraw yesterday before this news of

halting the IL protection. Does this really mean that I only get about 50 % of my initial investment back? So I lost half of my money? This is a rumor that is circulating in several Discord- and Telegram -groups.

#bancor #blockchain #cryptocurrency #english

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20.06.2022

19 ответов

14 просмотров

Cee (defisuomi.fi) Автор вопроса

Jen
If you choose to continue with your withdrawal, th...

But shouldn’t I get also some BNT if the actual pool behind the scenes was for exampole ETH-BNT?

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20.06.2022

Jen

Cee (defisuomi.fi)
But shouldn’t I get also some BNT if the actual po...

Impermanent loss protection has been temporarily disabled

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20.06.2022

Jen

If you staked eth?

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20.06.2022

Cee (defisuomi.fi) Автор вопроса

Jen
If you staked eth?

Yes, if I staked ETH Then the pool should be ETH+BNT. 50/50. Now you are saying that I only get the ETH part back (50%). That is basically a soft rug pull.

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20.06.2022

Jen

Cee (defisuomi.fi)
Yes, if I staked ETH Then the pool should be ETH+B...

It's the result of the ILP being temporarily disabled

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20.06.2022

Cee (defisuomi.fi) Автор вопроса

Jen
It's the result of the ILP being temporarily disab...

Ok, thanks for the answer. In this market situation, with all the trust evaporated from the market, this is the worst decision Bancor could make. Some of my friends lost 80 % their funds in Terra crash and put their 20 % to Bancor because it was the OG of the crypto market. The yields were low but it was ok because it was trusted protocol. Now they lost yet again -50 % of their funds. I find it really hard to claw back from this hole as a defi platform. Sad to see this end like this.

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20.06.2022

Jen

Cee (defisuomi.fi)
Ok, thanks for the answer. In this market situatio...

With all due respect- the worst decision we could've made was to ignore the issue at hand and pretend there was no issue. The decision made was not an easy one- but a necessary one.

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20.06.2022

Jason Parser

Jen
With all due respect- the worst decision we could'...

i would have loved to have been a fly on the wall in the private discussions around this

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20.06.2022

Donald

Cee (defisuomi.fi)
Ok, thanks for the answer. In this market situatio...

Tell them open 50x short on BNT right now. Make it all back one trade.

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20.06.2022

Cee (defisuomi.fi) Автор вопроса

Jen
With all due respect- the worst decision we could'...

I agree, but it is not binary choise between continue vs. halt everything. I can come up with at least 2-3 other avenues and potential options. But it is too late now. Well, I hope the team maanges to kepp nose above the water. Good luck for you guys!

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20.06.2022

Jen

Jason Parser
i would have loved to have been a fly on the wall ...

It was basically the same discussion we had publicly tbh

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20.06.2022

Jason Parser

Jen
It was basically the same discussion we had public...

I had conversations with multiple bancor team members and the only one who was willing to admit there was a problem was you tbh.

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20.06.2022

Jindo

Jen
With all due respect- the worst decision we could'...

I've been dm'ing the admins here for awhile about this . Now I'm getting screwed again by not receiving the ILP which is owed to me Kinda not handling this situation well You guys need 1 person to review the withdraws that initiated prior to the new rule, and grandfather the ILP for the good acting wallets not associated with the bad actors. Please relay this to Richard

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20.06.2022

Cee (defisuomi.fi) Автор вопроса

Jindo
I've been dm'ing the admins here for awhile about ...

I agree on this one. It is not fair to “punish” people who withdraw funds before closing the IL protection. I wanted to withdraw my eth pool to invest those funds to another Bancor pool, but now I am losing 50 % haircut in this.

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20.06.2022

Jindo

I guess we can write a proposal to the Dao.. I'm just missing 300 vbnt to be able to write a proposal 25k vbnt needed

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20.06.2022

Jen

Jindo
I guess we can write a proposal to the Dao.. I'm j...

If you have an idea for a proposal, please put your ideas in the community chat in the governance forum so they don't get lost here.

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20.06.2022

Cee (defisuomi.fi) Автор вопроса

Jen
If you have an idea for a proposal, please put you...

Before I do, was there any discussion previously about veBNT or similar locked tokens model that would accrue most of the swap fees and bribe markets etc?

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20.06.2022

John Smith

Jen
If you choose to continue with your withdrawal, th...

The team needs outline a path and say exactly who/what the 'threats are' and what's the game plan (A, B, C) Everyone I have spoken to is ok with the 50%+ loss. The IL factor isn't scaring people to stay put. Aka we have already lost 80-90% what's another 50% lol

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20.06.2022

Jen · Accepted Answer

Jen

If you choose to continue with your withdrawal, then you'll be accepting the IL.

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20.06.2022

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