Proposal to set funding limit to 0 on CROWN Bancor 3 pool

[alphavalion]

Expected on Snapshot on July 2, 2023

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

Proposal to start sunsetting Bancor V3

By now, it should be clear to the entire community that ILP is never coming back and no BNT holder will ever vote for reenabling such a feature ever again. Since the release of Carbon, it is quite clear that this is the future of Bancor for now until more products are released (yes, I think this is just the beginning). To that extent, this proposal is seeking to start sunsetting V3. Via https://analytics.bancor.network I was able to pull a CSV file of all the current V3 data. From that CSV I fi…

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

TL;DR

• CROWN pool on Bancor v3 has a surplus
• This proposal is looking to set the funding limit to 0

Summary

This is fairly simple and straight forward. Setting the funding limit to 0 on a Bancor 3 pool means that it no longer trades as there is no BNT liquidity allocated to it. Any BNT liquidity currently allocated to the pool is burned.

For

Set the funding limit to 0 on the CROWN pool if it is currently in surplus. Otherwise, if at any point in time within 30 days of this proposal passing the pool goes into surplus then the funding limit can be set to 0.

Against

Do nothing.

[lesigh]

@alphavalion I’ve spoken to the CROWN team and they wanted to know if it’s possible to delay this vote. They are currently constructing a plan that could allow them to migrate to Carbon.

[DylanShub]

Hi thanks for bringing this up for us. Indeed we only just heard the news and were even surprised to be included in all of this since our agreement with the Bancor DAO happened post the liquidity debacle. Our pool has never been in deficit and we supply our own impermanent loss insurance.

That said we understand the spirit in which this is all being done and the tremendous efforts that have been made to make Carbon a superb product. We are now reviewing options with contributors to possibly get what we need done on Carbon instead.

[foxsteven]

@DylanShub

We are now reviewing options with contributors to possibly get what we need done on Carbon instead.

If you need some time to explore if Carbon suits your needs, you have my support to wait on this.

Thoughts @alphavalion ?

[DylanShub]

@alphavalion the Crown governors have discussed the situation:

We would ultimately like to migrate CROWN liquidity to Carbon, however, there are several circumstances that currently prevent this:

1. CROWN is distributing its token through a staking program - which is not currently supported on Carbon.
2. The CROWN pool is currently receiving BNT rewards that are being distributed over 2 years.

We ask to delay the pause of the Crown liquidity pool until August 2024, at which point we plan to migrate CROWN liquidity to Carbon.

[HwH]

I wish to delay the pause of the CROWN liquidity pool until August 2024 aswell.

[VeniVidiVici]

I agree with the new concept, let’s delay until August 24.

[yorknh]

Another Crown holder in agreement with delaying until August 2024.

[Shawnuff]

I’m aligned with and request we delay the pause of the Crown LP until August

[bluemoon]

I am also in agreeance with the proposal to delay the pause of the Crown liquidity pool until August 2024

[alphavalion]

I am not sure about August 2024 as the DAO has been disabling all pools that are in surplus. The proposal is now on snapshot and Bancorians can make a decision given the information provided in this thread.