Reenable ILP for small set amount of $ Value

Community Chatroom (DISCUSSION)
1

Idea: We reenable the full 100% ILP for a set amount dollar value withdraw per day.
Meaning:

  • LP can withdraw up to (example) 5k $ value once per day in his staked token and recieve full ILP.

  • Everything over this set amount of dollar value is not protected.

  • The withdraw fee of 0,25% is applied.

  • This possibility is only open for LP who deposited before the ILP got disabled.

  • This way there cant be a bankrun, the worst happening is a slow decline in the price of BNT, which should be mitigated by future usecase implementations for the BNT Token

  • Small LP have the possibility to get “whole” again → good sentiment. Bancor will get finally some good tweets out → more attractive for new LP in the future

  • V2.1 LP have more motivation to migrate their position to v3 → reducing the overall defcit
    -LP who would withdraw might actually stay knowing they can get, at least slowly for bigger fishes

  • enable this solution only for people staked before 19.6.22 prevents whales creating multiple small wallets and withdraw all at once this way

Im neither a technical person nor do i have any clue if this is a good idea. Just some random thhoughts in another sleepless night.
Any comment / improvement is appreciated

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2

Hey first of all I wanted to say thanks for posting this.

My main issues with this are that it would probably have to be be first-come-first-serve, and that it somewhat favors smaller positions.

1 Like