Proposal: Flexibility in the Bancor v3 Beta

The DAO has previously approved a rewards schedule, and capacity limits for the Beta testing period of Bancor 3, which are detailed in BIP16. It is important to remember the Beta has a singular purpose - to observe the behavior of the contracts in a real-world setting, and confirm the system is behaving precisely as described in the BIP15 document.

The TVL increases were proposed to increase in 4-day brackets, approaching a cumulative $63M target over 28 days. This proposal seeks to establish a slightly more pragmatic interpretation of the TVL schedule, that is, at best, ambiguous in the original wording of BIP16, and abjectly counter-productive to the objectives of the Beta testing period at worst.


The TVL limit increases are expected to double at a singular moment in time, every 4 days. This can be expressed as:

TknMaximumCapacity = 2**(day//4)*171875

The floor function in the exponent essentially means that the maximum capacity cannot be changed before the end of the 4-day cycle.

Requested Leniency

As an exchange, it should come as no surprise that trading activity is an important aspect of the system that requires monitoring. Periods of low volatility, or to test the deposit logic during opportune periods in market movements, it can be advantageous to increase the capacity limits sooner. To this end, it is requested that the capacity limits can be increased within a cycle, to a maximum level defined by the lack of the floor in the exponent in the above expression:

TknMaximumCapacity = 2**(day/4)*171875

In other words, the capacity limits can be adjusted between the blue and the orange line in the following chart:

A Note on Expedited DAO Processes

The time-sensitivity of this proposal seems fit for an expedited DAO decision, as outlined in BIP3.


Allow capacity limits to be increased within a cycle to the previously defined maximum at the end of each 4-day cycle.


Do nothing.


Makes sense, the point of the beta is to test the system - IMHO, do what you need to do to test it.

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