In this week’s Community Call recording, Bancor shared the development updates above and answered questions from the community. Additionally, the call featured BBS Network who outlined a proposal to onboard BBS Token on Bancor with external IL protection.
BBS Network with Eyal
“BBS is like a Reddit forum with moderators, now decentralized to run on any website. The network itself is the collection of all the BBS boards, wherever they are. Anyone can create a BBS, on any subject, and run it on their own domain. Every post is actually an NFT that users can create, buy, sell and collect revenue from the ad space on posts they own.”
BBS Network is the second project to propose external IL protection on Bancor as part of its whitelisting bid.
Treasury liquidity on Bancor
The ideas of DAOs depositing their treasury liquidity on Bancor in order to support liquidity for their own token is a novel one — it has motivated their participation on LM-rewarding projects such as Curve and Tokemak. However, we believe that projects will ultimately pay much less for a better service on Bancor.
When we interact with other projects, they are invariably excited to provide liquidity on Bancor given the unrivaled ease and the value proposition. With the launch of Bancor3, all of the known composability-related barriers preventing us from integrating with other projects will disappear.
Will the infinity pools allow for infinite trading liquidity where all the BNT in the omnipool is available for trading liquidity on the other side?
Not quite — the trading liquidity limit will be defined, but the pool itself can accept any amount of TKN. The Bancor network will pivot towards a general market-making strategy where the DAO has control over the % of liquidity staked that’s available for swaps.
If in Bancor3, the protocol can accept TKN deposits without necessarily using them for trading liquidity at all times, then what else is it doing with them?
Many strategies will be running on Bancor simultaneously to serve as new sources of yield for stakers, details of which we will be revealing with Phase 2 of Bancor3.
If we have infinity pools, how do we accommodate so much TKN without infinite trading liquidity? And what if the TKN liquidity exceeds the $ value of the BNT omnipool?
Bancor3 is a brand new design — it looks nothing like any other DEX. Token liquidity is handled separately to the trading liquidity side. Excess TKN can be used in different strategies to earn yield even if it’s not available for trading liquidity. We’ll be releasing Bancor101 posts to get people familiar with it.
- Are there tokens you’re holding that we should whitelist on Bancor? DM @FoxSteven about it or connect us with any community leaders/core contributors on the project. Steven leads all our BD efforts and will connect with the team and work with them to get whitelisted or build a deeper pool.
- We have content grants active at all times. Any users that want to create videos or guides, please reach out to Nate Hindman (@NateHindman on Twitter or telegram).
- We have analytics grants. If you want to work on Bancor data projects or if you are good with working on blockchain data and APIs, we can always use your help!
- As always, we have rolling developer grants for those who want to build and innovate on Bancor’s infrastructure.