Preventing a future black swan event:

[DFV]

Make BNT outside of the protocol deflationary & limit newly minted BNT

Whatever the solution is it must be actually be unperturbed by market forces. Think maker/uni/aave. What happens when there’s a big short on dai, how do they deal with it? The risk with printing Bnt is that if there’s exist a way to print without limits, we can expect that to be exploited. (Ie. With shorts) How does bancor limit that, perhaps it has a IL/deficient cover limit correlated to fees earned rather than time. Because IL and fees are not as correlated with time, which seem to be a w…

Tldr bancor needs to tie more deficit to fees rather than time (because with time, fees earned during bear market =/= during bull market).