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

[alphavalion]

Expected on Snapshot on August 6, 2023

The guidelines in the Bancor due process

A Guide to BancorDAO Due Process

This document covers: The creation and publication of new proposals. Submitting proposals to a vote on Snapshot. Obligations to the Bancor DAO Anyone can create a new proposal for consideration by the Bancor DAO; there is no requirement to hold BNT or vBNT. The guidelines for proposal creation are obligatory, and were written into DAO law with the passing of BIP3 on 24 October 2020. These guidelines have since been updated to reflect the DAO decision making process on Snapshot, and were acce…

have this caveat which I am invoking to have this proposal go up for vote on this upcoming Sunday

Similarly, urgent matters requiring immediate action can expedite the sufficient time requirement.

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

• wstETH 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 wstETH pool if it is currently in surplus. Otherwise, if at any point in time within 365 days of this proposal passing the pool goes into surplus then the funding limit can be set to 0.

Against

Do nothing.