I wanted to put some numbers here for the community to get a clear picture. With $BNT at a current price of .85:
- 800K in $BNT trading liquidity is roughly $680K or roughly a $1.36m deep pool if it fills up completely.
- 150K in $BNT for external IL protection is roughly $127K or 19.5K $ICHI tokens assuming a price of $6.5 per $ICHI
- External IL being contributed will roughly be 150K $BNT/ 800K $BNT = 18.75%
The above, I think generally seems like a good starting point and we can reassess any future increments in trading liquidity based on how much IL the pool has suffered and the remaining amount of tokens in the external IL protection vault.
I think @eldude brings up a good point about the trading fee for this proposal:
which I think should inherit from the v2.1 pool (1%). Perhaps @NIX can run a report on the v2.1 ICHI pool for us to get an idea of the profitability of the 1% fee? Note that the fee was changed as part of Proposal: Change the fee in the ICHI pool from 0.3% to 1%
On the following:
I don’t think this shows long-term commitment to the Bancor community. These tokens are going to ICHI LPs to cover them for IL and not to BNT token holders.