Proposal to Determine Whitelisting Status of sBTC 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.


  • As outlined in the recent blog post there are 9 tokens that will be each brought up specifically for the DAO to vote on a white listing in V3.
  • This proposal is for sBTC
  • sBTC’s token contract allows for burning of aBTC in any account, including the token vault contract on Bancor V3.
  • Link to contract: $21,036.82 | Synth sBTC (sBTC) Token Tracker | Etherscan

Voting Instructions:

To whitelist sBTC on Bancor V3, vote FOR this proposal

To do nothing, vote AGAINST this proposal

I think my comments are broadly the same as for sUSD. (link)

Unless we have some idea of when Synthetix would burn, and whether we are going to get sBTC deposited, then I’m thinking of voting NO.

The only benefit compared to sUSD, is that any sBTC might see less IL costs to Bancor (but maybe less volume?).

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Literally nobody staked…

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