BIP17: Bancor 3 Initial Whitelist, BNT Funding Limits, and Swap Fees

DAO Archive (SUBMITTED)
1

This proposal is expected to appear on Snapshot for voting on April 12, 2022 (UTC) . Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

Voting instructions

To support the proposed initial Bancor 3 whitelist, funding limits, and swap fees, vote FOR

To oppose the proposed initial Bancor 3 whitelist, funding limits, and swap fees, vote AGAINST

Summary

  • This proposal seeks to establish the Bancor 3 whitelist and BNT funding limits for each whitelisted asset.
  • The whitelist has been grandfathered from v2.1, including assets that have yet to bootstrap themselves.
    • Tokens with an active pause on deposits are treated as having a
  • The initial BNT funding limits were determined as follows:
Poolv2 = {
    'deposits enalbed' = True
    'v2.1 funding limit' = 12345,
    'v2.1 balance' = 12345,
    'swap fee' = 0.002
}

Poolv3 = {
    'swap fee' = 0.002,
    'v3 funding limit' = 0
}

Poolv3['swap fee'] = max(Poolv2['swap fee'], 0.002)

if Poolv2['deposits enalbed'] == True:
    Poolv3['v3 funding limit'] == max(Poolv2['v2.1 funding limit'], Poolv2['v2.1 BNT balance'], 20000)
else:
    Poolv3['v3 funding limit'] = 0
  • This arrangement allows all liquidity on Bancor v2.1 to migrate to Bancor 3 without impact on the slippage of any pool, and without affecting the total BNT contract supply.
  • This is only an initial setting; all trading liquidities and pool fees on Bancor 3 are under DAO control.

The Whitelist, Funding Limits, and Pool Fees

base token symbol base token address Funding limit v3 Swap Fee
AXS 0xbb0e17ef65f82ab018d8edd776e8dd940327b28b 0 0.20%
TRB 0x0ba45a8b5d5575935b8158a88c631e9f9c95a2e5 0 1.00%
RSR 0x8762db106b2c2a0bccb3a80d1ed41273552616e8 0 0.30%
RGT 0xd291e7a03283640fdc51b121ac401383a46cc623 0 0.50%
CREAM 0x2ba592f78db6436527729929aaf6c908497cb200 0 0.20%
TRIBE 0xc7283b66eb1eb5fb86327f08e1b5816b0720212b 0 0.20%
SPELL 0x090185f2135308bad17527004364ebcc2d37e5f6 0 0.20%
1INCH 0x111111111117dc0aa78b770fa6a738034120c302 200000 0.20%
1ONE 0xd5cd84d6f044abe314ee7e414d37cae8773ef9d3 150000 0.20%
AAVE 0x7fc66500c84a76ad7e9c93437bfc5ac33e2ddae9 3500000 0.20%
ALCX 0xdbdb4d16eda451d0503b854cf79d55697f90c8df 250000 0.20%
ALEPH 0x27702a26126e0b3702af63ee09ac4d1a084ef628 20000 0.20%
ALPHA 0xa1faa113cbe53436df28ff0aee54275c13b40975 1000000 0.20%
AMP 0xff20817765cb7f73d4bde2e66e067e58d11095c2 2000000 1.00%
ANKR 0x8290333cef9e6d528dd5618fb97a76f268f3edd4 100000 0.20%
ANT 0x960b236a07cf122663c4303350609a66a7b288c0 106310 0.50%
APW 0x4104b135dbc9609fc1a9490e61369036497660c8 250000 0.20%
ARCONA 0x0f71b8de197a1c84d31de0f1fa7926c365f052b3 1000000 5.00%
ARMOR 0x1337def16f9b486faed0293eb623dc8395dfe46a 250000 0.20%
AST 0x27054b13b1b798b345b591a4d22e6562d47ea75a 50000 0.20%
AUC 0xc12d099be31567add4e4e4d0d45691c3f58f5663 100000 0.20%
BAL 0xba100000625a3754423978a60c9317c58a424e3d 20000 0.20%
BAND 0xba11d00c5f74255f56a5e366f4f77f5a186d7f55 20000 0.20%
BAT 0x0d8775f648430679a709e98d2b0cb6250d2887ef 2421139 0.50%
bBADGER 0x19d97d8fa813ee2f51ad4b4e04ea08baf4dffc28 20000 0.30%
BBS 0xfe459828c90c0ba4bc8b42f5c5d44f316700b430 102612 0.20%
bDIGG 0x7e7e112a68d8d2e221e11047a72ffc1065c38e1a 91634 0.25%
BMI 0x725c263e32c72ddc3a19bea12c5a0479a81ee688 500000 1.00%
BNB 0xb8c77482e45f1f44de1745f52c74426c631bdd52 20000 0.20%
BOBA 0x42bbfa2e77757c645eeaad1655e0911a7553efbc 50000 0.20%
BOND 0x0391d2021f89dc339f60fff84546ea23e337750f 1000000 0.20%
BOR 0x3c9d6c1c73b31c837832c72e04d3152f051fc1a9 20000 0.50%
BORING 0xbc19712feb3a26080ebf6f2f7849b417fdd792ca 200000 0.30%
BUSD 0x4fabb145d64652a948d72533023f6e7a623c7c53 20000 0.20%
BZRX 0x56d811088235f11c8920698a204a5010a788f4b3 20000 0.20%
CEL 0xaaaebe6fe48e54f431b0c390cfaf0b017d09d42d 304203 0.20%
CHZ 0x3506424f91fd33084466f402d5d97f05f8e3b4af 50000 0.20%
COMP 0xc00e94cb662c3520282e6f5717214004a7f26888 2000000 0.20%
COT 0x5c872500c00565505f3624ab435c222e558e9ff8 20000 3.00%
CRO 0xa0b73e1ff0b80914ab6fe0444e65848c4c34450b 20000 0.20%
CRV 0xd533a949740bb3306d119cc777fa900ba034cd52 20000 0.20%
CTSI 0x491604c0fdf08347dd1fa4ee062a822a5dd06b5d 50000 0.20%
DAI 0x6b175474e89094c44da98b954eedeac495271d0f 5355642 1.00%
DAO 0x0f51bb10119727a7e5ea3538074fb341f56b09ad 200000 0.20%
DAPP 0x939b462ee3311f8926c047d2b576c389092b1649 500000 0.20%
DATA 0x8f693ca8d21b157107184d29d398a8d082b38b76 50000 0.20%
DDX 0x3a880652f47bfaa771908c07dd8673a787daed3a 300000 1.00%
DEXE 0xde4ee8057785a7e8e800db58f9784845a5c2cbd6 200000 0.20%
DIP 0xc719d010b63e5bbf2c0551872cd5316ed26acd83 200000 0.20%
DRC 0xa150db9b1fa65b44799d4dd949d922c0a33ee606 50000 0.20%
DUSK 0x940a2db1b7008b6c776d4faaca729d6d4a4aa551 50000 0.20%
DXD 0xa1d65e8fb6e87b60feccbc582f7f97804b725521 20000 1.00%
DYDX 0x92d6c1e31e14520e676a687f0a93788b716beff5 1000000 0.20%
EDEN 0x1559fa1b8f28238fd5d76d9f434ad86fd20d1559 2000000 0.20%
ELF 0xbf2179859fc6d5bee9bf9158632dc51678a4100e 20000 0.20%
ENJ 0xf629cbd94d3791c9250152bd8dfbdf380e2a3b9c 3608873 0.50%
ENS 0xc18360217d8f7ab5e7c516566761ea12ce7f9d72 200000 0.20%
eRSDL 0x5218e472cfcfe0b64a064f055b43b4cdc9efd3a6 500000 0.20%
ETH 0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee 50710507 0.20%
EWTB 0x178c820f862b14f316509ec36b13123da19a6054 20000 0.30%
FARM 0xa0246c9032bc3a600820415ae600c6388619a14d 637223 0.20%
FODL 0x4c2e59d098df7b6cbae0848d66de2f8a4889b9c3 250000 0.20%
FOX 0xc770eefad204b5180df6a14ee197d99d808ee52d 100000 0.20%
FRM 0xe5caef4af8780e59df925470b050fb23c43ca68c 300000 0.20%
FTX Token 0x50d1c9771902476076ecfc8b2a83ad6b9355a4c9 350000 0.50%
FXS 0x3432b6a60d23ca0dfca7761b7ab56459d9c964d0 100000 0.20%
GNO 0x6810e776880c02933d47db1b9fc05908e5386b96 127235 0.50%
GRT 0xc944e90c64b2c07662a292be6244bdf05cda44a7 1000000 0.20%
GTC 0xde30da39c46104798bb5aa3fe8b9e0e1f348163f 200000 1.00%
GUSD 0x056fd409e1d7a124bd7017459dfea2f387b6d5cd 20000 0.20%
HEGIC 0x584bc13c7d411c00c01a62e8019472de68768430 500000 0.20%
HOT 0x6c6ee5e31d828de241282b9606c8e98ea48526e2 800000 0.20%
HY 0x9b53e429b0badd98ef7f01f03702986c516a5715 100000 0.20%
ICHI 0x903bef1736cddf2a537176cf3c64579c3867a881 2163946 0.30%
IDLE 0x875773784af8135ea0ef43b5a374aad105c5d39e 250000 0.20%
INDEX 0x0954906da0bf32d5479e25f46056d22f08464cab 200000 0.50%
INST 0x6f40d4a6237c257fff2db00fa0510deeecd303eb 900000 0.20%
JRT 0x8a9c67fee641579deba04928c4bc45f66e26343a 74566 0.20%
KNC 0xdd974d5c2e2928dea5f71b9825b8b646686bd200 20000 0.20%
KTN 0x491e136ff7ff03e6ab097e54734697bb5802fc1c 150000 0.20%
LINK 0x514910771af9ca656af840dff83e8264ecf986ca 43799226 0.50%
LPL 0x99295f1141d58a99e939f7be6bbe734916a875b8 355690 1.00%
LQTY 0x6dea81c8171d0ba574754ef6f8b412f2ed88c54d 150000 0.20%
LRC 0xbbbbca6a901c926f240b89eacb641d8aec7aeafd 300000 0.30%
MANA 0x0f5d2fb29fb7d3cfee444a200298f468908cc942 1000000 0.20%
MASK 0x69af81e73a73b40adf4f3d4223cd9b1ece623074 100000 0.20%
MATIC 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0 1000000 0.20%
MFG 0x6710c63432a2de02954fc0f851db07146a6c0312 51101 0.30%
MFI 0xaa4e3edb11afa93c41db59842b29de64b72e355b 100000 0.20%
MKR 0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2 2000000 1.00%
MLN 0xec67005c4e498ec7f55e092bd1d35cbc47c91892 348012 0.30%
MONA 0x275f5ad03be0fa221b4c6649b8aee09a42d9412a 350000 0.20%
MPH 0x8888801af4d980682e47f1a9036e589479e835c5 700000 0.20%
MTA 0xa3bed4e1c75d00fa6f4e5e6922db7261b5e9acd2 1000000 1.00%
NDX 0x86772b1409b61c639eaac9ba0acfbb6e238e5f83 250000 0.20%
NEXO 0xb62132e35a6c13ee1ee0f84dc5d40bad8d815206 250000 0.20%
NMR 0x1776e1f26f98b1a5df9cd347953a26dd3cb46671 500000 0.50%
NOIA 0xa8c8cfb141a3bb59fea1e2ea6b79b5ecbcd7b6ca 159235 0.20%
OCEAN 0x967da4048cd07ab37855c090aaf366e4ce1b9f48 2750000 0.50%
OMG 0xd26114cd6ee289accf82350c8d8487fedb8a0c07 138462 0.50%
OPIUM 0x888888888889c00c67689029d7856aac1065ec11 150000 0.20%
PATH 0x2a2550e0a75acec6d811ae3930732f7f3ad67588 50000 0.20%
PERP 0xbc396689893d065f41bc2c6ecbee5e0085233447 20000 0.20%
PHTR 0xe1fc4455f62a6e89476f1072530c20cf1a0622da 801950 1.00%
PLR 0xe3818504c1b32bf1557b16c238b2e01fd3149c17 50000 0.20%
POOLZ 0x69a95185ee2a045cdc4bcd1b1df10710395e4e23 50000 0.20%
POWR 0x595832f8fc6bf59c85c527fec3740a1b7a361269 250000 0.20%
PSP 0xcafe001067cdef266afb7eb5a286dcfd277f3de5 250000 0.50%
QNT 0x4a220e6096b25eadb88358cb44068a3248254675 1000000 0.20%
QUICK 0x6c28aef8977c9b773996d0e8376d2ee379446f2f 200000 0.20%
RAIL 0xe76c6c83af64e4c60245d8c7de953df673a7a33d 75000 0.20%
RARI 0xfca59cd816ab1ead66534d82bc21e7515ce441cf 250000 0.20%
REN 0x408e41876cccdc0f92210600ef50372656052a38 3000000 0.20%
renBTC 0xeb4c2781e4eba804ce9a9803c67d0893436bb27d 1500000 0.20%
renZEC 0x1c5db575e2ff833e46a2e9864c22f4b22e0b37c2 20000 0.20%
REQ 0x8f8221afbb33998d8584a2b05749ba73c37a938a 1750000 1.00%
rETH 0xae78736cd615f374d3085123a210448e74fc6393 250000 0.20%
RLC 0x607f4c5bb672230e8672085532f7e901544a7375 200000 0.20%
RNB 0x2a039b1d9bbdccbb91be28691b730ca893e5e743 200000 0.20%
ROOK 0xfa5047c9c78b8877af97bdcb85db743fd7313d4a 2500000 0.50%
RPL 0xd33526068d116ce69f19a9ee46f0bd304f21a51f 1000840 0.20%
RUNE 0x3155ba85d5f96b2d030a4966af206230e46849cb 600000 0.50%
SAO 0x3ef389f264e07fff3106a3926f2a166d1393086f 100000 0.20%
SATA 0x3ebb4a4e91ad83be51f8d596533818b246f4bee1 50000 0.20%
sBTC 0xfe18be6b3bd88a2d2a7f928d00292e7a9963cfc6 20000 0.20%
SFI 0xb753428af26e81097e7fd17f40c88aaa3e04902c 285459 0.20%
SHEESHA 0x232fb065d9d24c34708eedbf03724f2e95abe768 250000 0.20%
SMARTCREDIT 0x72e9d9038ce484ee986fea183f8d8df93f9ada13 75000 0.20%
SNX 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f 9000000 1.00%
SRM 0x476c5e26a75bd202a9683ffd34359c0cc15be0ff 20000 0.20%
STAKE 0x0ae055097c6d159879521c384f1d2123d1f195e6 32753 1.00%
sUSD 0x57Ab1ec28D129707052df4dF418D58a2D46d5f51 20000 1.00%
SUSHI 0x6b3595068778dd592e39a122f4f5a5cf09c90fe2 200000 0.20%
SXP 0x8ce9137d39326ad0cd6491fb5cc0cba0e089b6a9 20000 0.20%
TEMP 0xa36fdbbae3c9d55a1d67ee5821d53b50b63a1ab9 500000 0.20%
TOMOE 0x05d3606d5c81eb9b7b18530995ec9b29da05faba 20000 0.20%
TRAC 0xaa7a9ca87d3694b5755f213b5d04094b8d0f0a6f 1000000 2.00%
TRU 0x4c19596f5aaff459fa38b0f7ed92f11ae6543784 250000 0.20%
UMA 0x04fa0d235c4abf4bcf4787af4cf447de572ef828 500000 0.20%
UNI 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984 2000000 0.20%
UOS 0xd13c7342e1ef687c5ad21b27c2b65d772cab5c8c 150000 0.20%
USDC 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 5674363 1.00%
USDT 0xdac17f958d2ee523a2206206994597c13d831ec7 5276720 1.00%
vBNT 0x48fb253446873234f2febbf9bdeaa72d9d387f94 1186633 1.50%
VISION 0xf406f7a9046793267bc276908778b29563323996 100000 0.20%
VITA 0x81f8f0bb1cb2a06649e51913a151f0e7ef6fa321 500000 0.20%
VLX 0x8c543aed163909142695f2d2acd0d55791a9edb9 152251 0.20%
WBTC 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 64127511 0.20%
wNXM 0x0d438f3b5175bebc262bf23753c1e53d03432bde 3349431 1.00%
WOO 0x4691937a7508860f876c9c0a2a617e7d9e945d4b 1720838 0.20%
wstETH 0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0 200000 0.20%
WXT 0xa02120696c7b8fe16c09c749e4598819b2b0e915 200000 0.20%
xSUSHI 0x8798249c2e607446efb7ad49ec89dd1865ff4272 200000 0.20%
YFI 0x0bc529c00c6401aef6d220be8c6ea1667f6ad93e 5000000 0.20%
ZCN 0xb9ef770b6a5e12e45983c5d80545258aa38f3b78 924132 0.50%
ZRX 0xe41d2489571d322189246dafa5ebde1f4699f498 20000 0.50%
2

One comment.

I proposed that INDEX switch to a 0.5% fee for Bancor3 (Snapshot)

Rather than a modification to the proposed structure above. I’m wondering if it makes sense (/is easier to implement) to roll INDEX over at 0.2% fee as per v2.1 along with the above, and then adjust the fee along with the first batch of routine protocol adjustments (Whitelisting, funding limit, fee changes etc.) once B3 is fully live.

1 Like
3

Easy change - happy to make that edit in the final version. However, I think it needs a little more justification. Can out outline here, in the comments, why you want it to be changed?

4

I assume that the fee rates are being carried over unchanged from v2.1. This may not be the place to ask this, but I know that we have been experimenting with raising fees, and I was wondering if we have arrived at any conclusions and will we have a rubric for systematically evaluating fees with respect to: competition, pool popularity, trading volume, etc. If there is a discussion going on about this somewhere else, please point me in the proper direction.

2 Likes
5

I think there’s definitely room to discuss the process behind picking the right fee per pool but I would suggest to push these discussions to post v3 launch, as there are so many moving parts now and we should probably pace things out.

2 Likes
6

Just to note that I’ve cleared this up with @mbr (The January discussion around INDEX had slipped through the net when drafting BIP17).

2 Likes
7

@OverAnalyser:
I have made the change from 0.2% to 0.5% for the INDES pool fee, consistent with the proposal that was successfully passed by the BancorDAO.

1 Like