This proposal is expected to appear on Snapshot for voting on 2022-01-02T12:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
To pass, this proposal requires 40% quorum and 66.7% supermajority on the Bancor DAO
TLDR
- This proposal seeks to increase the trading liquidity limit from the default (20K BNT) to 250K BNT for the IDLE-BNT pool.
- Idle DAO is looking to deposit a portion (~$600K of $IDLE) of their treasury on Bancor (contingent on their DAO voting for this proposal). Opening space in the pool will allow for these funds to be deposited on Bancor if the Idle DAO proposal passes in their governance.
- A larger IDLE-BNT pool will reduce price impact and therefore attract more trades from retail users, aggregators, and professional market makers to Bancor.
Rationale
- The space in the pool is full at the moment and opening up space will allow the Idle DAO to deposit a portion of their treasury in addition to allowing their $IDLE holders to add single-sided IL protected liquidity as well.
Abstract
There is currently ~15.6K BNT and ~18K IDLE tokens in the BNT-IDLE pool. This has resulted in a pool that has roughly ~112K in liquidity. At the moment, we won’t be able to support the Idle treasury and they won’t be able to provide single-sided liquidity since there is not enough capacity. This proposal is seeking to increase single-sided capacity in the IDLE pool by increasing the trading liquidity limit to 250K BNT .
For
Increase pool trading liquidity from 20K BNT to 250K BNT.
Against
Keep the pool trading liquidity limit at the default 20K BNT BNT.