No, I do not. Hence, why I am clarifying how the protocol functions. The statements being made are without merit and don’t accurately reflect the truth at hand. That is, there is no team that is giving away your money.
1 Like
Here is my comment to people like you from Telegram:
“What I see in the forum and here is that the team always defends itself, never accepts any mistake, and protects the Foundation. Moreover, even they tease us. This shows that they will never pay our money.”
This is the truth.
This is your opinion and you are entitled to it. I am here to clarify any misconceptions to the best of my knowledge so that the community has correct answers.
No, this is not my opinion. This is the fact. How come you don’t shame even a little? Your team broke its promise and seized my money. And you speak arrogantly. Are you a human being? No apology. arrogance. teasing. All of these are behaviors of the scammers. Yes, I was scammed 1-2 times and the admins of all those projects behaved like you.
Allowing BNT LPs to withdraw without a haircut is an act of bad faith by all involved. The surplus enjoyed by the BNT pool is a result of selling off TKN LP deposits in exchange for more BNT, as the latter has been outperformed by nearly every asset.
Why should BNT LPs be afforded the right to leave and take a cut of the surplus clearly intended to cover IL on TKN LPs?
I propose BNT LPs be allowed to leave with their original stake – no IL, but also no extra capital – to prevent further draining of what little funds the Bancor protocol has at its disposal to help heal the considerable deficit.
Right now, BNT LPs are withdrawing and selling, as is their right, but it’s widening the IL deficit. Why give them additional ammo for this purpose?
1 Like
They are leaving with their original deposit because $BNT price went down relative to other tokens (a negative feedback loop was forming before it was stopped). If a TKN pool was in surplus then those LPs would also be leaving with their original deposits. This is how the protocol functions, and there is no difference between TKN and BNT LPs when a surplus exists in a pool, they both leave with their original deposits (and any fees that they accumulated).
To be clear, just because a pool is in surplus does not mean that you get any extra tokens from the surplus. The protocol up until the emergency actions on 6/19 always ensured that you got back your original deposit (a portion in BNT when there was a deficit until BNT distribution was disabled) plus fees. This has not changed and a pool being in surplus does not mean you get more than your original deposit (plus fees accrued while you LPed).
See @TheOneJM response here. This will most likely achieve the opposite of the outcome that you are looking to achieve:
Note that 45% of $BNT is already on outside markets. This will not stop 45% of those $BNTs from being sold.
This is not valid reasoning. Emergency action like the one on 6/19 to seize our money can be taken and then can be ratified.
They seized my money. No shame. Yes, teasing. Then since I complained about Bancor to the owners of major exchanges by calling them scammers as a result of their behaviors, they banned me from Telegram 
Hey @abduraman , Can you please move this to the community chat room?
I feel the ideal process is ideas like this are built out on the chat room and later moved to Level 1 as they are more defined and clear
I am moving this to the community chatroom until it is in proposal form (ready to be voted on)
BNT is used to make the TKN users whole in case of deficit. Currently, multiple pools are in deficit. ILP was shut off, while BNT withdrawals are still live. If BNT is still allowed to be withdrawn, users can and will withdraw it to sell it, which will actively slow the recovery of BNT, if it ever does recover. Shutting off another faucet would allow BNT to become less scarce, and allow the protocol to get back to having a working ILP system.
1 Like
This proposal doesn’t reflect reality.
You need to understand that if this were put to a vote:
- All BNT LPs would withdraw and sell their BNT before the end of the vote
- This would significantly increase the deficit for tokens
- No one would buy BNT
- No vBNT holder would vote to freeze their own assets
3 Likes
Dumping goes on and unless the foundation and/or BNT holders take responsibility, it will go on like an avalanche.
Update: 10.4 of 19.04 ETH
Update: 10.11 of 19.04 ETH
~1 ETH more has gone just in two weeks.
Update: 9.9 of 19.04 ETH
Closing topic. User has been banned for spamming across multiple social media channels and creating fake accounts in this forum.
3 Likes