I still have chainlink on bancor. will I ever be

Question

Bancor Protocol

Jonathan Frakes

I still have chainlink on bancor. will I ever be

able to withdraw my whole stack?

#bancor #blockchain #cryptocurrency #english

0

06.03.2024

22 ответов

26 просмотров

Skiznilly

BNT has to significantly outperform any token it's paired against in order for the deficit in that token's pool to be fixed, including LINK.

0

1 месяц назад

Jonathan Frakes Автор вопроса

Tylusmoore AmaZix
Hi Jonathan. Are you on V2 or V3? Your tokens were...

It might have been before your time but if you staked chainlink in the past there was a so called impermanent loss protection which was suddenly turned off and led to stakers not being able to withdraw their full stack

0

1 месяц назад

Jonathan Frakes Автор вопроса

Tylusmoore AmaZix
Hi Jonathan. Are you on V2 or V3? Your tokens were...

I never said they were locked

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1 месяц назад

Jonathan Frakes Автор вопроса

Skiznilly
BNT has to significantly outperform any token it's...

Thanks a lot for that answer. Weird that even the admins could not give an honest answer. Appreciate you

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1 месяц назад

Jen

Jonathan Frakes
Thanks a lot for that answer. Weird that even the ...

I can clarify and assure you @AmaZix_tylusmoore isn't looking to be dishonest in any way but simply making sure you're aware tokens not locked. As for bringing all pools into surplus, that's the priority and has been since the BNT distribution mechanism was shut off.

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1 месяц назад

Jonathan Frakes Автор вопроса

Jen
I can clarify and assure you @AmaZix_tylusmoore is...

That’s a way better way to frame it

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1 месяц назад

Jonathan Frakes Автор вопроса

Skiznilly
BNT has to significantly outperform any token it's...

sounds rational. but it cannot get worse from here right?

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1 месяц назад

Skiznilly

Jonathan Frakes
sounds rational. but it cannot get worse from here...

If tokens continue to outperform BNT, it can; that consistent outperformance is what got us to the point of protocol-wide ATH deficit 🤷🏻‍♂️

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1 месяц назад

Jonathan Frakes Автор вопроса

Tylusmoore AmaZix
Hi Jonathan. Are you on V2 or V3? Your tokens were...

Also weren't we forced to move to V3 to at least withdraw anything in the past?

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1 месяц назад

Jonathan Frakes Автор вопроса

Skiznilly
If tokens continue to outperform BNT, it can; that...

I mean the potentially withdrawable amount of $Link wont be less than now right?

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1 месяц назад

Skiznilly

Jonathan Frakes
Also weren't we forced to move to V3 to at least w...

Correct, any withdrawals from v2 were shut down for several months, without any insight provided on the state of an LP's position. If they wanted to withdraw (or even know what their deficit was), they were forced to migrate to v3.

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1 месяц назад

Skiznilly

Jonathan Frakes
I mean the potentially withdrawable amount of $Lin...

Yes it can, if LINK outperforms BNT. LINK consistently outperforming BNT is the reason why you can't withdraw all the LINK you put in after Bancor cancelled their ILP guarantee. If BNT goes up 10%, but LINK goes up 12% in the same time period, that means less LINK available for you to withdraw.

0

1 месяц назад

Jonathan Frakes Автор вопроса

Skiznilly
Correct, any withdrawals from v2 were shut down fo...

this is what I remember! thanks for that. why dont the admins here tell me that lol

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1 месяц назад

Jonathan Frakes Автор вопроса

Skiznilly
Yes it can, if LINK outperforms BNT. LINK consiste...

wow ok thats so frustrating

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1 месяц назад

Jack Jack

Jen
I can clarify and assure you @AmaZix_tylusmoore is...

Jonathan is totally right makes a legit point here, actually tokens have been locked in v2, to withdraw we needed to migrate to v3 to unlock.

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1 месяц назад

Jen

Jack Jack
Jonathan is totally right makes a legit point here...

That’s not true actually. They’re not locked and migration hasn’t been an option for quite some time. After a lengthy discussion on governance the DAO passed a vote quite some time ago

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1 месяц назад

Jen

Jack Jack
Jonathan is totally right makes a legit point here...

If you want to read the discussion and proposal https://vote.bancor.network/#/proposal/0x9f80570a9133c733e81cb6578980a571be242904c9dc2dc61c2a12f8546fdd2d

0

1 месяц назад

Jonathan Frakes Автор вопроса

Jen
That’s not true actually. They’re not locked and m...

But it’s true that there was a time where we needed to migrate from V2 to V3 to be able to withdraw

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1 месяц назад

Jen

Jonathan Frakes
But it’s true that there was a time where we neede...

And yes. There was. V2.1 withdrawals required migration to v3 because otherwise more technical changes would have been involved in a time of emergency. Any changes to the contracts could have exposed the protocol to unforeseen vulnerabilities and possible exploits. This was the delay and part of the DAO decision.

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1 месяц назад

deezn

Skiznilly
Yes it can, if LINK outperforms BNT. LINK consiste...

Or is the reason why he can't withdraw all the LINK HE PUT IN is because the devs stopped minting BNT as IL protection as promised?

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1 месяц назад

glenn🗿

deezn
Or is the reason why he can't withdraw all the LIN...

BNT liquidity protection was disable on 6/19/2022 as an emergency action and later on ratified by the Bancor DAO. What this means is that if you are trying to withdraw today and your position is in deficit that you will only receive a portion of your tokens at withdrawal (the withdrawal screen will tell you exactly how much you will receive).

0

1 месяц назад

Tylusmoore AmaZix · Accepted Answer

Tylusmoore AmaZix

Hi Jonathan. Are you on V2 or V3? Your tokens were not locked and withdrawable anytime. Make sure to read the full disclosure before doing so.

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1 месяц назад

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