Bancor Update — June 29, 2022

It’s been an extremely challenging time for the Bancor community following recent emergency actions. On June 19th, we were faced with a decision that nearly every DeFi builder dreads: Stand by and do nothing as liquidity providers face potential catastrophe, or intervene and protect users. If the protocol collapses, most users get nothing. If the … Read more

This Week In DeFi – June 24

To the DeFi community, This week decentralized derivatives platform dYdX decided to create its own applicaiton-specific standalone chain, as part of the Cosmos ecosystem. The move will also complete the decentralization of the platform – marking an important milestone for dYdX once the transition is complete. dYdX developers reasoned that no L1 or L2 solution … Read more

Market Conditions Update — June 19, 2022

Due to hostile market conditions, Bancor’s Impermanent Loss Protection is temporarily paused. IL protection will be reactivated on the protocol as the market stabilizes. This is a temporary measure to protect the protocol and its users. There is no ongoing attack and funds on the protocol are secure. Withdrawals performed during this unstable period will … Read more

This Week In DeFi – May 13

To the DeFi community, This week, TerraUSD took center stage for unfortunate reasons, as the third-largest stablecoin lost its peg – sending Terra’s native LUNA token into a “death spiral”. Kick-started by an apparent attack on the system, a significant de-pegging of UST to the dollar resulted in a rush to the exits by token … Read more