(BIP) Increase Vortex Burner to 20% - Active Immediately

Perfectly calm - a bit excited to see you participate.

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Mark is the guy that’s going to do the work that goes into actually putting proposals up for voting. He’s got to be the biggest supporter of the DAO operations., if you don’t want his help you can always put the proposal up yourself only takes 25K vBNT.

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It causes direct economic harm to non-BNT LPs.

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I have educated myself and am fully prepared to put the proposal up on my own - although help would be nice - and wasn’t granted when I initially reached out for it.

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For what it is worth, I think a 20% burn rate is a good target. I am just worried we might be jumping the gun a little. But as you rightfully point out - it is up to the DAO to judge.

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I have prepared a thread re: how to put stuff on Snapshot. Let me know if you need any assistance.
Instructions are in here:

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I have been following this guide:

A few suggestions:

  1. Remind proposers that they will be hit with 24h limits to required replies on their thread.
  2. Update it to point out that level 1, and advancement to level 2 is required in the discussion forum before posting to snapshot.
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Yeah, I need to update it. Thanks for the reminder, I’ll get on it soon.

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The time for overshooting is with LM active - not after.

With just 24 weeks left in LM - its heavily disappointing to see blanket “12 week extensions” on all major pools

LP’s are going to be in for a massive shock when they are hit with the eventual drop to 0.

Would have loved to see more data and a slow decrease as we enter the final 6 months.

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What if APYs are too low after LM Rewards finish creating a wave of loss of liquidity?

That would certainly hurt the protocol and BNT holders in the long term.

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LM is a big issue, for sure. And the Vortex was developed partially to counteract its effects.

First, thank you @tfns for the time and effort to compile the analysis, always impressive work!

This point should cannot be stressed enough. As volatility wanes, trading volumes will revert to the mean and APRs will normalize.

This is misleading. Numerous high yielding LPs have space available.

I’m relatively new to the Bancor ecosystem, and thus far my experience with the community has been enjoyable. I appreciate the civil and courteous discourse. This is the the first contentious and borderline hostile thread I’ve read on Bancor’s Discourse. While I don’t like the tactics used to present this BIP to the DAO, I do think an increase the vortex burner rate is supported by the data that Tiago was gracious enough to prepare. However, any increase should be gradual given the high probability that the swap fees will decline significantly in the comings months compared with May. In addition, on several community calls the team has mentioned that LM Rewards will begin to wind down soon, which will also have a significant impact which is unknown at this time.

For full disclosure, I voted FOR a 10% increase in the poll posted above.

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I am talking about pools that bring revenue to the network, not the rounding error pools.

Mainly stablecoins, link, wbtc, and especially the vBNT pool is particularly hard to enter.

While I appreciate your participation - this poll will have no sway to my opinion.

You are welcome to create your own thread and then snapshot proposal if you wish to engage the DAO’s decision making process.

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Don’t let it bother you. It’s an inescapable part of DAO operations, unfortunately. But it’s healthy - people getting upset means they care. Some of the DAO veterans know the proposal’s author well, and there might be some lingering bad blood from the early days. This is also not a bad thing; we need polarizing forces to break groupthink.

I love and appreciate you @BurnVictim

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I’ll grant you that the stables have been full, but I have been able to stake on occasion. Your point is valid. On the other hand, I’ve been able to stake to wBTC without issue. I don’t own any LINK so cannot comment on that LP.

Let’s put it to a vote then, and let the DAO decide.

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I would wager a significant sum that this board would be a lot more civil if vBNT were required to post. I would go out on a limb to say that it seems the ones who make the most noise have vortexed all of their voting power away.

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Its curious that a lot of new accounts were created these last 2 days after one Ethereum address unstaked all their BNT from the pools and swapped it for vBNT at the best rate since Vortex implementation

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Repetitive chin scratching may lead to development of a rash. Please stop spamming my thread. I’ve already asked moderators to take a look at your posting yesterday.

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There is no need to be upset. Did you swap all your BNT for vBNT then?

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It’s times like these when I wish moderators would actually exercise their power.

This user DarkKnight has made no effort to argue for or against the increased fee in the vortex.

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