The vortex continues burning vBNT and locking BNT in the protocol forever. This week we saw roughly ~85K in vBNT that was burned by the vortex.
| time | burnedamount |
| 9/5/2021 0:00 | 15674.62085 |
| 9/6/2021 0:00 | 5102.025767 |
| 9/7/2021 0:00 | 15087.82258 |
| 9/8/2021 0:00 | 21069.53259 |
| 9/9/2021 0:00 | 5271.034755 |
| 9/10/2021 0:00 | 11150.30059 |
| 9/11/2021 0:00 | 11640.22637 |
| Sum | 84995.5635 |
This was an increase from ~1.051m to ~1.136m from 9/5 to 9/11. At current BNT prices (~$4.00) this equates to $340K worth of $BNT locked forever. 🔒
📊 Key Metrics
7-day total cumulative fee revenue: ~$1.8m
30-day total fee revenue: ~$6m
Source: token terminal
📈 The average daily revenue for the past 7 days has been at around ~257K. 30-day trading fee revenue is up over 43% for the previous 30 days. Annualized, that’s around ~$73m in annual trading fees paid to LPs.
💰In terms of protocol revenue, Bancor is the second largest DEX on Ethereum, with around $2.87m in monthly revenue earned by $BNT holders. It is ranked the 7th lowest by Price to Sales (P/S) ratio compared to other crypto projects.
Source: token terminal
🔌Integrations and Updates
- Instadapp pool ($INST) was whitelisted last week and it is currently awaiting to be seeded. We expect that this pool will be funded very soon and we are excited to announce its activation as a whitelisted pool shortly.
- Harvest Finance pool ($FARM) had its LM extended and it continues to be the highest volume $FARM pool in the DEX ecosystem. It is delivering good APRs to its stakers, make sure to take a look. Stake in the farm pool
- Mask Network ($MASK) was whitelisted last week and that pool is currently growing. A bounty was deployed by Mask that would integrate Bancor directly into the Mask trading plugin. Stake in the MASK pool
- iExec RLC ($RLC) pool was whitelisted last week and quickly became the deepest pool in the market (over 1.6m in depth as of writing). There is no more space at the moment for single sided deposits on the token side. There is currently a proposal to increase the fees on this pool from .1% to .2% in order to generate more fees for LPs. Stake in the RLC pool
- Digitalax ($MONA) pool had a co-investment increase last week in order to add more space for single sided deposits. Current pool depth is sitting at around ~1.1m. Stake in the MONA pool
- Marginswap ($MFI) pool was whitelisted last week and the pool has already grown to a depth of over ~500K. Stake in the MFI pool
💃BNT-LINK Tee Giveaway
Did you vote on the DIGITALAX proposal last week? The latest Bancor x Chainlink DRIP was given away to three voters 🆓
If you are address is listed above, see below for how to claim your BNT-LINK tee!👕 👇 👇
Another week gone by, Bancorians keep on the grind in the social channels.
The beauty of our platform is that we are capital efficient by letting LPs put their tokens to work and not have to worry about putting up 50% of their capital to LP 50–50 in a pool. Some might not even fathom the idea of selling half of their stack so that they can LP in a DEX and potentially get REKT when their token 🚀 🌕. Seems like $RLC holders agree with the 💰 proposition of our platform and quickly filled up their pool.
A round of applause 👏 for this fellow and his tweet storm. Quite an epic and must read thread. Sir, we salute you 😆 😄 😆 go show him some ❤️ 👇
Nate and Yudi are back from the dead 😱💀😱…don’t miss out on your chance to grab these cool Crypto Plebes NFTs…if you are lucky 🍀 😈
More integrations on the pipeline…looks like we just keep winning 😎. Now where is my V3? 😏
If you missed it, our lead researcher Mark was hosted by Saffron finance as part of their academy podcast. Give it a 👂 👇
Kris Kray is on point with his 📹 content. Watch him explain the 💪 behind our single sided deposits 👀
🎩Bancorians in the Wild
In the jungle, the mighty jungle…OK OK 😆 you know how it goes. Sometimes we can’t contain our big brains and must let loose