Proposal: Whitelist THORChain (ERC-20 RUNE) + 600k Co-Invest
The Voting Automaton will vote FOR whitelisting status of RUNE. The customary tweet has been sourced.
Proposal: Co-investment limit Increase on ETH
The Voting Automaton will vote FOR additional co-investment in the ETH pool.
Could the Automaton please elaborate on why it ranked Polygon first in the Temp Check? Iâm curious to understand itâs decision-making process on that one.
It was the crowd favorite at the time it voted.
Gracias señor! I think it is still the crowd favorite depending on the crowd 
Proposal : Whitelist NEXO - 250K Co-Invest
At the time of this post, there has been little or no Twitter activity from the NEXO team and/or community surrounding the whitelist proposal. A BancorDAO member tagged the Nexo_CE account, with no response. The Voting Automaton is voting AGAINST the Nexo whitelist status as a result.
Proposal : Whitelist Perpetual Protocol (PERP)
PERP Tweet confirmed.. The Voting Automaton is voting FOR the PERP whitelist status.
Proposal : Whitelist ANKR - 100K Co-Invest
ANKR Tweet conformed. The Voting Automaton is voting FOR the ANKR whitelist status.
Draft Proposal: Add LM Rewards to BOND
The Voting Automaton votes conservatively for liquidity mining proposals. In general, there should be a strong reasoning, strategic advantage, and/or competitive motivation for using Bancorâs LM program before the Voting Automaton will support it. In this case, the value of activating liquidity mining is obscure; this view is shared by other DAO members who have voiced their opinions in the comments section of this proposal. Barnbridge is undoubtedly an AAA+ project and community, but its pool on Bancor may not be the best use of the liquidity mining at this specific point in time. The Voting Automaton will vote AGAINST this liquidity mining proposal this time around, but welcomes future LM proposals for the $BOND token (perhaps after staking incentives have diminished elsewhere in the ecosystem).
Reduce the swap fee on ETH to 0.1%
The Voting Automaton will vote FOR the decreased pool fee on ETH.
Proposal: Whitelist Idle (IDLE) Plus 200k BNT Co-investment
Pending an acknowledgment from the IDLE team and/or community that the Bancor whitelist proposal is being voted on, the Voting Automaton will vote FOR the whitelist status of this pool.
Proposal: Whitelist TrueFi (TRU) Plus 250K BNT Co-Investment (Attempt #3)
Pending an acknowledgment from the TRU team and/or community that the Bancor whitelist proposal is being voted on, the Voting Automaton will vote FOR the whitelist status of this pool.
Proposal: Whitelist Lidoâs wrapped staked eth (wstETH) Plus 350K BNT Co-Investment Limit
Pending an acknowledgment from Lidoâs team and/or community that the Bancor whitelist proposal is being voted on, the Voting Automaton will vote FOR the whitelist status of this pool.
TrueFi.io Tweet confirmed. And a very courteous recognition paid to our own DAO member @glenn for assistance with the proposal.
Proposal to whitelist Arcona XR Metaverse
The obligatory tweet from the Arcona AR Metaverse Twitter account satisfies the main criteria of the Voting Automaton. Due diligence also returns nothing of concern. ARCONA is a microcap project, and the tiny proposed co-investment (5K) is reasonable. Arcona integrated the first version of Bancor, 7 months before the launch of Uniswap. The ARCONA community rallied together to create the existing pool, and which was applauded by the team. On the business side, the token enters routine periods of hot speculation, and should drive user traffic towards Bancor. The Voting Automaton will vote FOR the whitelist status of the Arcona token.
Proposal: Extend LM Rewards on Aave Pool
Proposal: Extend LM Rewards on SNX Pool
Extend LM on the BAT pool
The Voting Automaton should be predictable. In general, it is conservative with liquidity mining, requiring a sound argument for why the program should be extended. At the moment the logic is looking like this:
LiquidityMiningProposal():
if PriorLM == False and StrategicPool == True:
FOR
Elif PriorLM == True and TKN == 'LINK', 'WBTC', 'ETH', 'USDC', 'DAI', 'USDT':
FOR
Else:
AGAINSTThis is obviously imperfect, but the goal is predictability. Delegators should be able to anticipate the actions of the Voting Automaton and vote manually if they disagree with it. It is noteworthy that voting manually does not require the delegation to be rescinded; you can simply vote and it will override the choice made by the Automaton.
In this case, @glenn has provided supporting arguments, citing similar staking APR natively and a persistent need to grow the pool compared to competing DEXes. Owing to the importance of AAVE in the Defi ecosystem, these considerations carry slightly more weight than they might in another context. However, to maintain consistency and predictability, the Voting Automaton will vote AGAINST extending the liquidity mining program on AAVE, SNX and BAT.
Proposal: Activate LM Rewards for Compound (COMP) with a Six Week Duration + 2M Co-investment Limit
Following the bootstrapping of the COMP pool to activate its long-standing whitelist status, there has been some attention garnered from Twitter (here and here). There is some evidence that there may be some cultural overlap between LINK, BNT and COMP; see Tweest from @Chainlinkcrypto (e.g. here, here, and here). COMP is a Defi veteran, and is certainly a worthy candidate for liquidity incentives. The Voting Automaton will vote FOR liquidity mining incentives on the COMP pool, and its co-investment increase.
Proposal to Whitelist Token Pillar (PLR) with 50K BNT co-investment
Pillar integrated with Bancor in March of 2020 as part of their product roadmap. See examples of the Twitter announcements from that era here, here, here, here, and here (among others). Our own @nhindman was recently on a podcast with the PLR community. At present, it doesnât seem as though the Pillar Twitter account has acknowledged the whitelisting proposal yet; however, @Amberr from the Pilar team has stated that the project will make an announcement and promote the pool if the vote is successful, which is good enough. The Voting Automaton will vote FOR the whitelist status of PLR.
Proposal: whitelist WXT - 200K BNT co-investment - to be pushed to Snapshot on July 12
No noise as of yet from the Wirex team or community, although it appears that they have prepared the proposal themselves. A voter incentive was also mentioned, although the details are unclear at present. After the social media awareness requirements have been met, the Voting Automaton will vote FOR the whitelisting status of WXT.
Proposal to activate Liquidity Mining rewards on Quant Network (QNT)
While not explicitly stated in the title, this proposal is similar to the COMP LM proposal in that it is simultaneously asking for a co-investment increase (to 350k). Community sentiment for QNT on Bancor has been notable; see relevent Twitter activity here, here, here, here, here, here, here, here, here, here, here, here, among many others. This is something of a statistical outlier. There is a demonstrable demand from QNT holders to stake their tokens, and communicated with clarity via their Twitter accounts. The Voting Automaton will vote FOR the increased single-sided staking capacity, and liquidity mining incentives on QNT.
Proposal: Whitelist Alchemix (ALCX) + 250k Co-Invest
The Alchemix community and team have shown strong support for the whitelisting proposal. The obligatory team tweets have been confirmed. Community engagement has been good, with higher than usual Twitter attention (e.g. here, here, here, here, here, here). Sentiment is highly positive, with $ALCX holders announcing their intentions to stake on Bancor leading up to the commencement of the voting period. The Voting Automaton will vote FOR whitelisting status of ALCX.
Proposal : Targeted LM Campaign for FARM to capture Buyback Mechanism
The Voting Automaton logic for liquidity mining proposals is admittedly rather crude, but is designed to give delegators the means to anticipate the behavior of the Automaton, without constantly referring to this page. At present, the logic is:
LiquidityMiningProposal():
if PriorLM == False and StrategicPool == True:
FOR
Elif PriorLM == True and TKN == 'LINK', 'WBTC', 'ETH', 'USDC', 'DAI', 'USDT':
FOR
Else:
AGAINST
In this case, there is a clear strategic value to activating liquidity mining incentives on the FARM pool. A representative of the FARM community was a guest on this weekâs Bancor community call, and spoke of cooperation and community building above almost anything else. The team has said that they will help to promote the pool and communicate the benefits of staking on Bancor within their sphere of influence. The Harvest Finance Twitter account has actively discussed liquidity provision on Bancor, and there is every reason to assume they will continue to support awareness after the LM schedule is approved. The advantages from a community-building perspective are clear.
Apart from being well-aligned with Bancorâs philosophy of community-owned liquidity, the objective of this LM campaign is stated with clarity by @tenzent:
Importantly, this proposal offers a unique, short-term and low-emission strategy, that also serves to make possible future extensions easier for the BNT community to wear. This is an important point, as the Voting Automaton should preserve a conservative outlook when choosing which pools should be incentivized. In sum, there is little argument to be brought against the proposal, and it is structured in a way that allows the Voting Automaton to vote FOR the incentives program while maintaining its predictable voting behavior.
Proposal to Whitelist DRC (Digital Reserve Currency) - 30 000 BNT Co-investment
The obligatory tweets from the Digital Reserve Finance Twitter account have been confirmed (here, here, here, here, here, and here). The proposed co-investment is smaller than usual, representing minimal risk exposure for the protocol and BNT holders. The team have also offered a rare NFT, which will be awarded randomly to any voter in this proposal:
The Voting Automaton will vote FOR whitelisting status of DRC.
Proposal: Whitelist xSUSHI with 200k BNT Coinvestment
The xSUSHI token has been a polarizing influence for whitelisting discussions since the inception of the DAO last October. The Voting Automaton is unemotional, and will apply the same logic as it has in previous rounds. For whitelisting proposals, this is predominantly determined by community engagement as judged by Twitter traffic. At the very least, there should be some recognition that the vote is occurring by either the SUSHI main Twitter account, or in lieu of that, at least some prominent SUSHI community members. At the time of writing, no such activity has been noted. However, the Voting Automaton will wait for later in the voting period to give xSUSHI holders some time to react.
Proposal: whitelist HY - 100K BNT co-investment - push to snapshot
The Hybrix Twitter account has acknowleged the proposal, and offered a voting incentive:
The proposed co-investment is high, but not unreasonable. The proposer, @Agent725, has stated explicitly that the co-investment limit was chosen so as to make Bancor the deepest source of HY liquidity in the ecosystem. The Hybrix product is very interesting, and it is clear that the project is sincere in its commitment to furthering the development of Defi. The Voting Automaton will vote FOR the whitelisting status of the HY token.
WBTC co-investment limits increase
The Voting Automaton is liberal-leaning for co-investment increases, especially on capstone pools such as ETH, LINK and wBTC. The Voting Automaton will vote FOR an increase in single-sided staking space for wBTC.
Proposal to whitelist TRIBE token with 200k BNT co-investment
The TRIBE community has acknowledged the whitelisting proposal on their own Discourse page. TRIBE community members are actively seeking to support the pool with funds from their own treasury (as is becoming something of a trend). This satisfies the Automatonâs engagement requirement; however, it is still preferable to see the Fei Labs Twitter account acknowledge the proposal. The high-co-investment is justified by the community ambition to establish liquidity for their token with treasury funds. The project is very high-quality; it is noteworthy that while the project as a whole is predominantly focused on establishing a scalable stablecoin, FEI, the TRIBE token is a regular governance token and can be expected to experience regular volatility with the rest of the cryptocurrency markets. The Voting Automaton will vote FOR whitelist status of the TRIBE token.
xSUSHI Twitter activity relating specifically to the proposal has been quiet, relatively to the scale of the token. Some xSUSHI holders have voiced their support after the proposal went live (here, here), and the subject of xSUSHI whitelisting has also been discussed positively prior to the proposal (here, here). The main SUSHI Twitter account has not yet posted anything; however the timing is also awkward. The ETHC Conference is on now, and SUSHI has been busy publicizing their new Trident product. Even so, this account retweeted other SUSHI-related governance matters from other projects, so the lack of attention is still conspicuous. In sum, the Voting Automaton will vote AGAINST xSUSHI whitelist status, for failure to meet the engagement requirement. This will not impact the outcome of the vote - quorum is already at 47%, and 90.22% in favor.
Proposal: Lower BAT-BNT Fees to 0.2%
The Voting Automaton votes for changes in pool fees according to the following logic:
if pool = ETH and 0.05% < proposedFee < 0.15%:
vote = FOR
elif pool != ETH and 0.1% < proposedFee < 1.0%:
vote = FOR
else:
vote = AGAINST
The Voting Automaton will vote FOR the proposed change in the BAT pool fee for this reason; however some additional commentary may be helpful here. At ETHCC, during one of the presentations Bancor was cited as being a must for integrations with trade aggregators, and the BAT pool was specifically highlighted as one of Bancorâs strongest pools (even with a 0.5% fee). As @glenn has pointed out, the drop to 0.2% is likely to be a worthwhile endeavor as any trade route involving ETH will be reduced to 0.3% over two legs. This is a great opportunity to learn about the effects of the swap fee.
Whitelist APY.vision (VISION) Token - 100K Co-Invest
The team has acknowledged the proposal on their main Twitter account. Moreover, the Bancor community has voiced an interest in working with the APY.vision team to create an impermanent loss interface, similar to fees.wtf. Such a tool could be used to further Bancor marketing efforts and drive more LPs to Bancor. Therefore, in addition to the basic requirements of the Automaton, there is also a nice overlap of interests between our projects, and an opportunity to work together on new products. The Voting Automaton will vote FOR the whitelist status of APY.vision.
Proposal: Increase Co-investment Limit to 500K BNT on QNT (Quant) Pool
The Voting Automaton is liberal with co-investment increase proposals. The QNT pool is an excellent candidate, regardless of the Automatonâs preset behavior. Traction on social media for staking QNT has been notable. A survey of occaisonal random tweets shows a general positive reception among the QNT community. More importantly, QNT won an unofficial opinion poll on a community memberâs Twitter account for liquidity mining interest. The official Bancor tweet about the pool in March also had a lot of engagement. Further to the proposal authorâs point, there is good reason to believe that there is a strong, latent interest in staking on Bancor within the QNT community, and increasing the single-sided staking capacity is a justifiable ambition. Importantly, the QNT token is an unlikely source of unusually high IL - its market movements look about par for crypto in general. The Voting Automaton will vote FOR the increase in QNT capacity.
Proposal: Extend LM Rewards on wNXM Pool
The Voting Automaton is conservative of liquidity mining decisions. It applies the following logic in all cases, to maintain predictable behavior:
LiquidityMiningProposal():
if PriorLM == False and StrategicPool == True:
FOR
Elif PriorLM == True and TKN == 'LINK', 'WBTC', 'ETH', 'USDC', 'DAI', 'USDT':
FOR
Else:
AGAINST
Therefore, the Voting Automaton will vote AGAINST extension to the wNXM liquidity mining program. Users who have delegated to the Automaton, but wish to support the LM extension, are reminded that there is no need to undelegate - simply vote the way you want on whichever proposals you like, and those actions will override that of the delegate.
Proposal: LM extension on Stable pools, (DAI, USDC, USDT)
As per the logic provided above, the Voting Automaton will vote FOR extensions to the stable coin liquidity mining programs. It is noteworthy that the recent reduction in the LM emissions on stable coins makes the decision easier.
Proposal to Whitelist $MONA (DIGITALAX) - 150K BNT Co-Investment
The DIGITALAX team have done extraordinarily well promoting the proposal. The most recent post asks users to get their vBNT staked in preparation for the vote. Prior to that, there were multiple announcements both on Twitter, and their blog. The promotional material surrounding their proposal has been amazing. For example, an infographic was created from a meeting with Bancorâs BD manager, Steven Fox, intended for consumption by the MONA community:
The MONA team are also incentivizing voter participation with an exclusive collectible NFT item:
DIGITALAX has also created a range of Bancor apparel, which was also featured on their main Twitter feed.
From the perspective of the Automaton, the engagement levels are astronomical, and the regular criteria are satisfied. As an aside - it is important that tokens proposed for the whitelist serve a clear purpose, and have an identifiable value and community following. The blending of fashion and cryptocurrency, NFTs, and globally decentralized design makes for a very interesting use case. As alluded to on our community call by a representative of the project, the NFT fashion game is much larger than many people expect. Ownable digital skins for in-game usage is the predominant source of revenue for many free-to-play gaming platforms, and is competitive with subscription or paid license business models. On top of that, fashion is about 2% of global GDP, or about 3 trillion dollars. Marrying this into a cryptocurrency project is probably a solid value proposition, and a sustainable one.
The Voting Automaton will vote FOR whitelist status of MONA.
Proposal: Whitelist DAPP Network (DAPP) w/ 500k Co-Investment and External IL Protection
The LiquidApps team and community have been very proactive on the engagement front. The Twitter activity is second-to-none (see here, here, here, here, here, here, here, here, here, here, here, here, here, here, among others). These include in-depth discussions of Bancor, how to stake, how to vote, Bancorâs use of LiquidApps tech for the Polkadot bridge - there is substance to these social media posts that reflect a true appreciation for the Bancor product and its community. This more than satisfies the engagement requirement of the Voting Automaton.
The voter incentives are intriguing. "vBNT holders voting on this proposal will be incentivized with an NFT which may have a future utility that allows it to be staked by DAPP LPs to amplify their mining rewards on Bancor. "
Most importantly, the LiquidApps team has created and open-sourced a method for providing IL protection in their own token. This is a profound change with benefits for both communities. As discussed on the community call, if DAPP appreciates in value significantly, this causes BNT to be drawn into the protocol through economic forces (arbitrage, basically). Under normal circumstances, the BNT IL protection mechanism is used to compensate LPs at withdrawal; however the system that LiquidApps has proposed will intercept the BNT reimbursement, burn it, and provide its LPs with the DAPP token instead. This means that the flood of BNT into the pool becomes a source of economic deflation for our token if DAPP moons. Since the IL is paid in DAPP, not BNT, the inflation pressure is completely removed from the equation, while giving the LPs absolute certainty that their token positions can be withdrawn in 100% DAPP tokens, at any time. There are no trade-offs; this is only positive.
Everything considered, this is an exciting development for Bancor and LiquidApps. Of course, the Voting Automaton will vote FOR the whitelisting status of the DAPP token.
Dear Mr Automaton - I would like to suggest a change to your voting patterns.
If a token requests LM - I think you should vote no unless they commit to bringing real value.
For example -
Committing to using Bancor pools for buy-backs (like harvest)
Committing to use Bancor pools for any on-chain swaps - I would like MLN to commit to this before they get hundreds of thousands of dollars of LM.
It already does; it doesnât vote FOR all LM, just LM with a purpose, and votes AGAINST all LM renewals, except for LINK ETH WBTC and stables. The conditional logic is copied below.
Remember the goal is to be predictable - delegators should be confident in their ability to anticipate the automaton voting behavior.
Fee Change on FTT (FTX TOKEN) to 1%
The Voting Automaton uses the following logic to vote on proposed changes to fees:
if pool = ETH and 0.05% < proposedFee < 0.15%:
vote = FOR
elif pool != ETH and 0.1% < proposedFee < 1.0%:
vote = FOR
else:
vote = AGAINST
As the proposed fee change is out of range (i.e. is not less than 1.0%), the Voting Automaton will vote AGAINST the fee hike.
Proposal: Whitelist $KTN (Kattana) - 150K BNT Co-Investment
The Kattana Twitter account has not yet acknowledged the whitelisting proposal. There are currently zero tweets featuring $KTN or âKattanaâ with âBancorâ or $BNT. If engagement remains low, the Voting Automaton will vote AGAINST this proposal.
Proposal: Whitelist $BORING (BoringDAO) - 200K BNT Co-Investment
The BoringDAO team was a guest on this weekâs community call, which they announced via Twitter. However, there is not yet any mention of the whitelisting proposal. There are currently zero tweets featuring $BORING or âBoringDAOâ together with âBancorâ or $BNT. The team previously acknowledged the proposal for $BOR, the predecessor to $BORING, via Twitter on two occasions (here, and here). If engagement remains low, the Voting Automaton will vote AGAINST this proposal.
There are two proposed changes in this proposal, liquidity mining rewards and a co-investment increase. The Voting Automaton is conservative for liquidity mining proposals, but liberal for co-investment increases. As the two are taken together, AND conditional logic is used (i.e. the Automaton must be in favor of both changes to vote in favor). The co-investment is fine; it is the liquidity mining aspect that requires more attention.
The proposal was submitted by an asset manager at Enzyme, @ThePerpetual, and has voiced a sincere-sounding ambition to strengthen ties with Bancor.
The MLN buyback scheme satisfies the âstrategic poolâ aspect of the Voting Automatonâs logic (similar to the FARM proposal). The discussion is slightly non-committal; however, if Bancor does become the deepest source of MLN liquidity, it stands to reason that the buyback mechanism will follow. The Voting Automaton can certainly vote FOR the MLN staking incentives; however, the opacity is a little problematic. The Enzyme main Twitter account has acknowledged the liquidity incentives, and it seems pertinent that the Bancor community makes an effort to open a dialogue in the near future. I have reached out to Enzyme over Twitter. If a slightly more authoritative stance can be ascertained ($FARM set an excellent example here), the Voting Automaton will vote FOR this proposal.
Proposal: Whitelist OriginTrail (TRAC) + 100k Co-Invest
The OriginTrail main Twiiter account has acknowledged the proposal. The co-investment limit is sound, based on the depth of the Uniswap pool. There are no liquidity incentives for $TRAC on Uniswap or anywhere else. The Voting Automaton will vote FOR the whitelist status of the $TRAC token.
Whitelist APY.vision (VISION) Token - 100K Co-Invest (Second attempt at quorum)
The first vote was highly supported by the Bancor community, and only failed to reach quorum. The Voting Automaton will vote FOR whitelist status of $VISION, as it did previously.
Proposal: Increase Co-Investment Limit to 50K on ARCONA Pool
The ARCONA community have demonstrated a sincere commitment to their pool. The Arcona Metaverse team have previously distributed valuable NFTs randomly to voters, regardless of their voting behavior, and have announced their intention to do the same this time. The current co-investment is a diminutive 5k BNT, and has grown to $600K in liquidity regardless. This indicates that community members have bought and staked 77,000 of their own BNT. This is precisely the behavior that fosters confidence. There is presently 0 space of ARCONA single-sided staking, and a co-investment in this case is easy to justify. The Voting Automaton will vote FOR the increased capacity.
The Ultra Twitter account has not yet acknowledged the whitelisting proposal. There are currently only two tweets featuring $UOS or with âBancorâ or $BNT (here and here). If engagement remains low, the Voting Automaton will vote AGAINST this proposal.