Quick update:
The new Fast Lane contract is expected to be live on Monday, December 11th.
The POL auction is also expected to start on Monday.
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Can we get confirmation if both are still going live tomorrow?
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Yes, this is still the plan
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The contract has been updated and trading enabled.
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Thanks!
Is there somewhere one can watch the show and follow whatās going on?
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Read Functions: https://docs.carbondefi.xyz/contracts-and-functions/read-and-write-functions/read-functions/carbon-defi-pol
Write functions: Carbon DeFi POL - Carbon Dev
The majority of the initial sale that swapped ETH to BNT happened yesterday. You can see the TX(s) in this contract:
if you want to visualize some of this occurring, then there is a Dune dashboard here that has this info
https://dune.com/queries/3302196/5529956
A screenshot of the dashboard data is here:
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Hello friends, Happy New Year to everyone, I am coming hear to spark up the conversation on speeding up the POL ETH to buy back and burn BNT process.
A couple points would be:
can we agree on what length of time would be considered āsafeā to minimize front running of the buy backs
Would it be an 8 day decay, 6 day, 4, 3, etcā¦would be interested in the game theory or mental models based around this
I think there is a high level of urgency right now to speed up this process, the few tokens that we have in size on Bancor V.3 have a lot of historical upside and could increase dramatically in price while $BNT remains stagnant
Which would then delay the process of making liquidity providers whole and progressing with the future of Bancor
So what do we think about speeding up this process friends? Please chime in with your thoughts
and if there is a more appropriate discussion page for me to post this please let me know
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Hey Spyda,
What is the goal here?
What do you think would be better with a different decay?
To support the value of $BNT relative to the rest of the market, so that we can make liquidity providers whole faster and move on with the future of Bancor on Carbon.
If not we risk watching coins like dramatically LINK increase in price and delaying this whole process
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Okay, so your saying you suggest to speed up the deficit reduction in case a token like LINK rises soon.
What exactly does this mean?
To reiterate my view on the whole process:
So through that objective, Iām perfectly fine with the current process. In my view this is a means to realign the token structure to the new and developing business models, and a clean-up from the previous business model that resulted in large amounts of token minting. So this better sets the stage for future protocol success.
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Run a integration hackathon for two weeks, most hackathon are focused on startup projects, maybe fresh ideas integrated stops a lost cause.
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My understanding is that the reason for the 10 day decay is so that the buy back of BNT is not pumped pre buy back and then dumped immediately after (front run)
So Iām asking how short of a decay period can use to balance speeding up the process, while also preventing/ limiting the chance of a front run and dump
Can you expand on new and existing models?
The direction of the protocol seems quite murky.
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I really like this idea.
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Another chunk of the POL ETH was converted to BNT on 12/31/2023:
to date there has been around ~187 ETH used in total and ~572K BNT acquired.
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Another chunk was converted on 1/9/2023:
followed by another chunk on 1/19/2023:
and the last most recent chunk on on 1/29/2024:
to date there has been around ~471 ETH used in total and ~1.5m BNT acquired.
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As there still isnāt any impact on the price from the POL sales I would suggest stopping this process and creating a treasury with the remaining ETH.
I donāt really see the benefit in the POL sales, it is just a way for individuals to dump their BNT on Carbon. And we all know who earns BNT monthly, the contributors who voted for thisā¦
When POL sales started, people in the Telegram group suggested we should evaluate the impact of the sales regulary but it looks like out of the dozens of paid contributors no one cared to do that. So we just continue to sell the POL blindly, not even knowing if it has any impact at all.
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yeap. Waiting for 2 years for my ETH. Would made some bucks staking on lido or ledger or binanceā¦kraken in these 2 yearsā¦ 
Though would be miracle even to get back my initial depostiā¦
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