It’s been three years since the death spiral. I’ve been patiently waiting out any news of recovery for the major pools still in deficit and personally have large bags stuck in them. I’m having trouble figuring out if any active initiative is being made to make holders whole.
I’ve been lurking in Discord, lurking on this governance forum, monitoring tweets from the official Bancor account. Nothing substantial, just a steady stream of integration announcements and nothing about the deficit.
I know there’s Carbon and fees, maybe some other new things recently - but I check on the Dune deficit dashboard every month and the situation is never better. So clearly nothing is being done about the deficit or nothing is helping much. I’m sure there are others who have just been waiting all this time as well. For me, I’m about ready to throw in the towel. I’m tired.
But before I do, I want to make my voice heard. Bancor needs to take responsibility for the false IL protection promises or come clean about how reparations are never happening. It’s impossible to find information about what the team is working on and if this is even still on their radar. Hell, I don’t even know who the Bancor team is now, if they still exist. Is anyone owning the recover plan for the deficits?
I’d like to begin seeing a monthly report or something clarifying the progress that is being made.
Also, it’d be great to understand the capacity of the current team and then perhaps create a private channel where only verified users with funds stuck can privately discuss ideas of how we might get the pools out of deficit.
If we leave this much longer I suspect this governance discussion room will become a ghost town and nobody will be left with any hope.
Surely if we band together, we can come up with some strategies to begin moving the needle.
Would love to hear feedback from all team members rather than just one spokesperson please.
Hi Imbald,
very similar situation with mine. Probably, just different amount of sinked money.
Passed 3+ years, and deficit only increasing. Im a bit sorry that I didnt take what was possible at the first days - I would had more than a half that I put in Bancor.
But yes, there very occasional post about that Bancor team doing (or not doing anything). And the solutions / steps are almost always to complicated to understand cleary for me - Im more of xperienced user only. Terminology also heavy.
Totally agree on this → Bancor needs to take responsibility for the false IL protection promises or come clean about how reparations are never happening. It’s impossible to find information about what the team is working on and if this is even still on their radar. Hell, I don’t even know who the Bancor team is now, if they still exist. Is anyone owning the recover plan for the deficits?
i think we took a gamble, and lost. i think ethereum won. we can access our immutable bnt contract forevermore like a taylor swift fling. me and the internal revenue service don’t see eye to eye, but that don’t rhyme
The private channel is a great idea. This forum is not a good place for talking about ideas and communication with the team because frankly it’s already a ghost town. Now it’s just a matter of getting someone who is a representative for the Bancor team to acknowledge the gaps here and help us. Whether anyone on the Bancor team will even see this post is another question.
The team are still there and seeing this. They’re still working on carbon etc and regularly posting content on X so things are still happening and I invite them to comment here with an update on their plans and projections.
also probably one of the biggest LP in the ETH pool here, we have all been super patient with this. but at some point the team needs to find a solution to end this once and for all (probably involves some kind of migration to a new token) and get a fresh start with the new product.
If you think the code is law, you should reinitiate the BNT mint. can’t keep ppl hostage without any meaningful progress for years just to protect your token.
I am a long-term LP, along with these others here. This situation is unacceptable.
I have been a liquidity provider on Bancor since 2021, and like many others, I have just returned to find the state of the platform profoundly disappointing. My frustration is not simply that of an LP, but also of a former governance delegate who still holds governance tokens. This thread is a testament to the immense frustration felt by the community, and it is a discussion that should never have had to happen in the first place.
The core promise of the Bancor platform was a form of protection against impermanent loss, a promise that was central to our decision to participate. The fact that this protection was disabled, coupled with the broken website and general lack of progress, is a profound breach of trust. This lack of progress is compounded by a profound communication deficit. While information may be shared on other platforms, the fact that the team is effectively absent from these governance forums—which were created for the express purpose of facilitating transparent discussion—is a clear sign that this community’s concerns are not being prioritized. Furthermore, the fact that the team has seemingly wandered off and started working on Carbon DeFi—completely ignoring this outstanding issue—is entirely unacceptable. This now-long-standing problem should have been resolved before any new projects were launched.
We were promised a solution, yet years later, the situation has only worsened. My portfolio, like countless others, has been in limbo, and the deficit has grown. The lack of clear communication and accountability from the Bancor team is entirely unacceptable.
We need more than promises, and we need to hear from more of the team than just one spokesperson. We need a concrete, actionable recovery plan with a clear timeline; a roadmap back to proper handling of this project. A good start would be to redirect some of the funds currently being sent to the vortex burner and use them to make LPs stuck in this situation whole again. We need transparency regarding what happened, why it happened, and how the team plans to rectify it. Anything less is a disservice to the community that trusted and supported this project.
The time for waiting has passed. We deserve an end to this uncertainty and a clear path forward.
That was my goof, I’ll read more before flying off the handle next time. It’s been years since I’ve been able to look at this. I’ve spent the past couple of days re-familiarizing myself and catching up; “waking up”, as it were.
At a minimum, the website should work; that it is broken for Chrome, which represents a large portion of browser use, is really not a good thing. With the current state of things, even though I want to, I cannot re-stake my BNT or my vBNT and have my voice heard on-chain, or really interact with the protocol in any meaningful way. Fixing this issue would be a great step forward for everyone affected.
I’d say it’s a fair bet that, like myself, the LPs who are still here are interested in staying here even beyond recovery, because we fundamentally believe in the platform and the principles it was founded on; we have no interest in leaving, we want to turn things around and make this project succeed, because we believe Bancor is the future. But the discussion needs to happen, loudly, publicly, at length, here–not on some social media platform, or messaging app, that is one of the cancers killing the web; not on X, not on Discord, not on Telegram (seriously, it is a dumpster fire).