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

[alphavalion]

Expected on Snapshot on August 20, 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

• USDC pool on Bancor v3 might have a surplus in the future
• This proposal is looking to set the funding limit to 0 if it goes into surplus in the future

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 USDC pool if it is currently in surplus. Otherwise, if at any point in the future of this proposal passing the pool goes into surplus then the funding limit can be set to 0.

Against

Do nothing.