Proposal to Determine Whitelisting Status of SAO on Bancor V3

This proposal is expected to appear on Snapshot for voting on June 19, 2022 (Lisbon) . Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision. To pass, this proposal needs a quorum of 35% and 66.7% FOR votes.


  • BIP17 allowed for the migration of all active V2.1 pools to V3
  • The DAO’s whitelisting requirements are here
  • There are certain cases in which tokens were whitelisted before these requirements were in place.
  • This proposal is for the DAO to vote specifically on some of these pools where the token contract may add significant risk.
  • NOTE: These exceptions are only possible for tokens that were whitelisted in V2.1.
  • Other tokens that were not whitelisted on V2.1 have no such exemptions as they were not live on Bancor before the whitelisting requirements were in place.


Voting Instructions:

To whitelist SAO on Bancor V3, vote FOR this proposal

To do nothing, vote AGAINST this proposal

Just want to note here that this token has been bridged via the wormhole. All wormhole tokens behave this way and it is not specific to SAO. That is, they all have the owner set to the wormhole bridge:

You can verify this with another token such as Wormhole USDT, Wormhole USDC, etc…

Essentially, if another token from Solana is bridged over to Ethereum then it will also have the same properties (not something that is specifically being done by the team).

There are few teams (mean finance ATM but other NFT projects as well) on Solana that are very interested in building up liquidity on mainnet Ethereum (and more will come) and in my opinion, we should look at the merits of these projects and their trustworthiness in addition to any potential security concerns that are out of their control (technically, some of these teams can launch a native ERC 20 token on Ethereum but a lot of them are not native to Ethereum in the first place).

If the Bancor DAO does decide that we don’t want to allow any wormhole bridge tokens, then we are closing ourselves to a large set of legitimate projects that are building on Solana. In my opinion I don’t think this is the right path to take.

Adding the latest onboarding proposal for anyone that might have questions about the project: