We’ve got an exciting opportunity on our hands! We currently have a surplus of liquidity totaling around $4 million USD, and we have the chance to fill the deficit in our top five pools. Among them, Chainlink (LINK) stands out as my preferred choice. Here’s a breakdown of the deficit pools:
Now, let’s focus on Chainlink (LINK). I understand that it comes with its fair share of volatility, which brings some risk into the equation. However, I strongly believe that allocating a portion of our surplus liquidity to LINK is a smart move with potential rewards.
LINK is a leading decentralized oracle network, known for its wide adoption and impressive track record. By supporting LINK, we not only enhance our protocol’s ecosystem but also align ourselves with one of the most influential projects in the blockchain space.
Of course, we need to be mindful of the risks associated with LINK’s price fluctuations. Here’s my proposed plan to mitigate volatility:
Allocate a reasonable portion of our surplus liquidity to Chainlink to ensure diversification.
Keep a close eye on LINK’s price movements and establish an exit strategy if it reaches a predetermined threshold.
Explore potential hedging strategies and seek insights from the Chainlink team to mitigate risks within their ecosystem.
Now, I’m eager to hear your opinions on this matter. Do you agree with my preference for Chainlink (LINK), or do you have another pool in mind? Let’s have an open discussion and work together to make an informed decision.
Thanks for your attention, and let’s dive into those deficit pools!
There is already a vote taking place to spend the surplus on eth, and this vote is likely to pass on july 20th. I COMPLETELY disagree and am unhappy with the RASH decision made to allocate the surplus funds. Although I still prefer Eth over Link. Simply look at the link/btc chart. Of course link will have its moments and time to shine, but not worth it IMO.
The wbtc pool must get replenished and shut down asap prior to any btc bull run. When BTC rallies hard, there is no coin that can hold up against it ( yes alts will shine afterwards, some more than others )
I brought up many issues with the vote taking place on snapshot in the other thread, and … crickets… OP and the other 3 individuals had NO comments and NO answers.
To clarify, the proposal was to convert the surplus to ETH while the DAO decides next steps. To my understanding, this does not imply favoring any pool over any other pool.
Personally, I would prefer to treat all pools equally.
The surplus was bancors piggy bank and one of the most important things so far ( other than carbon ) that can be used towards repairing the deficit.
By converting all to eth, bancor took the stance that eth was the greatest way forward at repairing the deficit. The same can be said if bancor converted all the surplus to wbtc… or link… or whatever.
Yes afterwards the DAO can decide what to do with the eth. most likely put it into a strategy that will hopefully outperform simply hodling.
I’m just pissed that this HUGE decision was made, and the ones on whom decided it, didn’t take into consideration SOO many crucial factors. Had this vote been grinded out thoroughly. I’d be okay with it. But rather, it feels like it was decided on by either a few eth maxi’s or individuals stuck in the eth pool.
Like it or not, this decision can be seen in a light which favors the ETH pool. Because now… potentially… if the DAO decides on it… the eth pool deficit can shrink by the surplus amount. ( im not saying this is what’s happening, I’m just saying bancor now holds that much eth, which can effectively do that )
If ETH outperforms, I will gladly eat my words and take sht for all my negative feedback. But if wBTC outperforms due to something like an ETF approval… or if bancor trades the surplus into eth prior to an altcoin bull run… then the ones who decided on this @alphavalion@PaperStreetCapital … you guys should take all the sht for not taking more time into this big decision.
Literally this is the LARGEST amount of funds that we have had to play with EVER SINCE all this sh*t happend… and when no one was paying attention… without a community call with a larger audience to discuss this IMPORTANT topic… you guys simply said… meh… all surplus to eth… we talked about it, but didn’t actually think it through… good enuf… lets goo
I hope that you guys are right, and I hope I take all the negative criticism for posts like this later. So I’m rooting for you guys to be right.
But really… we’re all traders now that carbon came out…right? we know how market cycles work and generally play out… right? was this the most ideal time to go all in on eth… right? thats the decision we made… and the 12 wallets voted and agreed upon … including foundation… team… and the couple people paying attention + sheep. Bancors governance is merely just an illusion of decentralization that the foundation and team can hide behind. Its a joke… and the notion that this vote was thoroughly discussed or well planned is also a joke.
I didn’t read this. You decided to not pay attention for the nearly 30 days of discussion, say nothing, then show up the hour of the snapshot to complain, to then not vote at all.
Then on the back end you come in drunk and angry to blame people, to preemptively shift all responsibility away from yourself, as you’ve taken no responsibility for your inaction for the past month. I have no sympathy for you. I won’t be reading what you rant after this either.
Yes I took a break for a month, not knowing that Bancors ENTIRE piggy banks fate would be decided upon by you and one other person. And no, I showed up days before the snapshot and brought up issues that you guys didn’t take into consideration. Also I didn’t vote because my vote would not have made a difference.
If there was talks of a community call discussing this pressing matter, then myself and far more other individuals would have heard it and contributed our thoughts and opinions. YOU and the other guy literally made the decision without a well thought out plan and KNOWING that literally NO ONE read your thread, NO ONE commented or contributed and after I pointed out the glaring mistakes, you literally thought meh we already made our decision.
Anyways, hope you 2 are right, and I want to be wrong here. But the fact that you can’t admit that you two completely chose to make this decision for everyone without a well thought out plan just shows your character.
The response you should have given, would be okay Jindo, you’re an asshole, but yes we can discuss some of the issues that you brought up because… hmm… yeah…kinda important… rather … you always just had the same response since days before the snapshot… OOO we talked about this a month ago, shame on you for not payn attn… fk off
I will oppose any and ALL proposals that will look to use the surplus to fill X pool vs another pool. This is unfair too all LPs in the protocol. The ultimate destination for any surplus should be to buyback BNT and burn as it treats all LPs equally.