Proposal to disable BNT deposits in Bancor 3

DAO Archive (SUBMITTED)
1

Expected on Snapshot on October 22, 2023

This proposal is split from the discussion that has happened in this thread

and Bancorians should read that post to have an understanding about this proposal

TL;DR

BNT is now a governance token of the Bancor protocol. Users can stake their BNT in the new governance contract to get voting power. BNT should no longer be allowed to be staked into the Bancor 3 protocol which is being sunset.

Summary

This is a fairly simple and straight forward proposal. Bancor 3 is a protocol in the process of being sunset and to be shutdown. Bancorians should NOT have any dependency on Bancor 3. This proposal is looking to disable BNT staking into a protocol that is being sunset.

Bancorians should be able to stake BNT on the new Bancor site and be able get voting power in governance. How will BNT staking be disabled from Bancor 3? That I will leave to the devs, the only thing that’s important is that it happens safe manner.

For

Disable BNT deposits into Bancor 3

Against

Do nothing.

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If this proposal passes then bancorians have to wait for the new BNT site to be active

I will leave that to the DEVs for when the changes are made as disabling BNT staking in bancor 3 has to be done after the new site is live.

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This has now been done

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Is there a new site available for staking BNT? Will that be coming soon?

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Yes, being worked on now - stake BNT to governance

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Will we be able to stake and vote if we live in the USA?

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it will be no different than the current system for vBNT

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