For what its worth, I wanted to give a non-technical progress report from what I see. Hopefully this is helpful for everyone involved in generating ideas, working on the code or writing proposals. Sometimes when things are moving in all directions, its hard to see how things change.
First, I get the sense that within the past week or so the routine visitors and contributors here are all aligned for the good of the protocol. There was a time where things went sideways due to people who (I think) were posting just to add chaos out of anger. It seems to me that even in the more heated discussions of the past few days, they are out of good faith. Solutions are created out of those environments, so there’s utility in disagreements, but to reiterate, I think most everyone here is facing the same direction.
Second, zooming out, there have been some incredible ideas created and implemented in honestly a short amount of time. The three proposals of how to handle fees (Protection, DAI and Yield Throttling) were well thought out and are very encouraging on how quickly solutions can come about. Not to mention the vortex is ready to go at 90% already. I’ve been keeping an eye on the Guthub and all those guys are working their asses off; very much appreciated!
Third, seeing projects reaching out to deposit and be involved in Bancor, even with the current situation, is really encouraging and a testament to all the hard work over the past few weeks. Remember all of the discussions in the Telegram/Discord of how people would “never” trust Bancor again? “Never” comes quickly sometimes. Granted for anyone involved in those projects, correct me if I’m reading too much into things, but I’m glad you’re here.
Finally, I don’t know what’s going on behind the scenes in terms of additional revenue generation and that idea development, but if I’ve learned anything over the past weeks/months is that the upside risk is massive if you’re betting against that team. On that note, (full disclosure & NFA) I’ve been buying BNT. There will be volatility ahead, but I’m of the mind that the worst is behind us.
I wanted to get all that down because its hard to see progress if you’re in the middle of it and highlighting how far things have come is important to frame where we can go. The focus on long-term solutions and thoughtful implementation is how the road to repair is paved, which has been a clear trend in this forum. To that end, I think that the probabilities of a thriving protocol are going up, regardless of what the day-to-day macro environment may reflect.
Thanks to everyone’s time and effort invested in all of this, I greatly appreciate it.
Sure does feel like we’re gaining momentum doesn’t it?
