lost half their ETH and/or LINK and who were not compensated for it, do you really think that the Bancor brand name has any long-term viability?
This situation is obviously not something we wanted to be in and it's rough to see people losing money by withdrawing but I do think long term viability (read:years) we can rebuild, yes.
So hold LPs ILP hostage until bancor figures there shit out
If you wanna see it that way, okay
Not held hostage, Just have to make a decision on haircut or wait. Big difference.
I refered to ILP being hostage
The alternative is worse. So wait or dont wait. Each has to make their own decision.
Wait for what? Avi is saying it's going to take years yet there's not even a proposal on how to fix the situation
Anybody who says they know how long this will take is lying.
Do you think there's a magic quickfix?
To start allowing LPs to exit albeit in a metered way to not crush bnt price
And maybe thats the plan. We dont know. Have to wait or not wait. Those are the choices until a plan is announced.
Foundation uses funds to incentivise LPs who left to return to protocol. ILP is reintroduced over a long-term timeframe (ie. locked for a year and then progressive withdrawal) which means that TVL is preserved.
Go try to get this put up as a proposal then.
I'm looking into getting more information about the Foundation, but what if what you are proposing won't happen? what do you think the protocol should do to gradually reduce the deficit, without putting selling pressure on BNT via ILP, which causes more losses by rebalancing
The Dao is smoke and mirrors
Proposals to help have already been put forward, voted on and are being implemented. Dont have to wait for the team.
I don't know. I have thought about it and I just don't know how the protocol can generate revenue again without third party intervention and direct compensation. As you lose trust, you lose TVL, as you lose TVL, you lose fees. That's why I am pushing for more information on the Foundation, and particularly when the 2017 raise was so substantial.
We had too much TVL actually. There is a point when more TVL doesn't get you the optimal amount of fees anymore
Well that is a flaw that could be fixed I guess. But now there's a potentially fatal issue on the other side of it.
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