# WITHDRAWN due to misattribution
**URL:** https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123
**Category:** OLD GOV (LEGACY)
**Created:** [March 6, 2021, 7:20pm UTC](https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123 "2021-03-06T19:20:30Z")
**Posts on this page:** 6
**Page:** 1
### Author:  [@mbr](https://gov.bancor.network/u/mbr)
#### Post date: [March 6, 2021, 7:20pm UTC](https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123/1 "2021-03-06T19:20:30Z")
A proposal to whitelist ArmorFi tokens was posted here on March 7.
I created the post on behalf of the ArmorFi team, due to new user account restrictions that limits the number of hyperlinks that can be included in a single post.
After the proposal was published, community members raised the issue that the original authors should be posting under their own name; there is a transparency and attribution problem associated with posting from different accounts.
In response, I have replaced the text from the original document with this short cover note, and changed the title of this post to avoid duplication, pending the creation of a new topic by a member of the ArmorFi community.
---
### Author:  [@ArmorKnight](https://gov.bancor.network/u/ArmorKnight)
#### Post date: [March 6, 2021, 7:43pm UTC](https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123/2 "2021-03-06T19:43:37Z")
Thanks for posting this for us, Mark!
---
### Author:  [@scrtisland](https://gov.bancor.network/u/scrtisland)
#### Post date: [March 6, 2021, 7:55pm UTC](https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123/3 "2021-03-06T19:55:16Z")
Is armor already providing coverage for positions on bancor? Is the yes vote required for that or is that independent of this?
---
### Author:  [@ArmorKnight](https://gov.bancor.network/u/ArmorKnight)
#### Post date: [March 6, 2021, 8:05pm UTC](https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123/4 "2021-03-06T20:05:45Z")
Armor is already staking on Bancor through Nexus Mutual to provide coverage capacity to Bancor users and will continue to do so; this vote has no direct bearing on that. However, you may have noticed that Bancor coverage is currently sold out because of limited staking. If this vote passes, it would help Armor scale better, and increase coverage capacity on Nexus much quicker, which in turn means Bancor users can have additional coverage available to them sooner.
---
### Author:  [@tenzent](https://gov.bancor.network/u/tenzent)
#### Post date: [March 6, 2021, 10:45pm UTC](https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123/5 "2021-03-06T22:45:30Z")
Yes ! We need more things like this, love it, send it.
---
### Author:  [@glenn](https://gov.bancor.network/u/glenn)
#### Post date: [March 6, 2021, 11:54pm UTC](https://gov.bancor.network/t/withdrawn-due-to-misattribution/1123/6 "2021-03-06T23:54:10Z")
Disclosure: I am an NXM holder
I am for this proposal, just like I was for the NXM proposal even though some of the other community members have bashed this pool for not having enough volume. The reason for this, is because Nexus Mutual and Armor play an important role for Bancor (and in DeFi) in that it incentivizes those communities to stake against the Bancor smart contract.
Before we whitelisted and worked with Nexus Mutual on the liquidity mining program, the premium that you had to pay for Bancor insurance on Nexus Mutual was over 30%. It is now 2.6% which benefitted our community greatly. The active coverage amount for Bancor right now is roughly 27M which means that members in this community have been purchasing insurance to cover their positions:
**Active Coverage for our Competitors**
| Project | USD | ETH |
| --- | --- | --- |
| Uniswap V2 | 48021750.82 | 29182.61918 |
| Bancor | 27876205.56 | 16940.25472 |
| 1Inch (DEX & Liquidity Pools) | 24416473.95 | 14837.79014 |
| Balancer V1 | 21217634.44 | 12893.86861 |
| SushiSwap V1 | 10425679.66 | 6335.642369 |
Only uniswap has a larger amount of active coverage than we do at the moment but that’s partly because you can’t buy insurance on Nexus Mutual for Bancor as it is sold out and requires more staking (there is demand from our members). Nexus Mutual members have staked more in the uniswap smart contract than ours:
**Amount Staked for our Competitors**
| Project | USD | NXM |
| --- | --- | --- |
| Uniswap V2 | 29887369.35 | 474924.1642 |
| Bancor | 23383366.46 | 371572.541 |
| Balancer V1 | 22002848.76 | 349635.4742 |
| SushiSwap V1 | 19196934.03 | 305048.1874 |
| 1Inch (DEX & Liquidity Pools) | 18654299.81 | 296425.4779 |
Note: The active coverage (they also have more available) amount for uniswap is roughly 2x what has been staked against their smart contract. This is because they have a capacity factor of 4 as compared Bancor which is currently at 2. Capacity factors were Increased recently for Uniswap and other projects ([link1](https://app.nexusmutual.io/governance/view?proposalId=118) [link2](https://forum.nexusmutual.io/t/update-capacity-factors/323/7)) and there is no reason why they wouldn’t do so for Bancor as well, as long as we keep working with these communities. Full list at the bottom.
Armor is just a reseller for Nexus Mutual (no KYC) and also happens to be the largest staker of smart contracts in the Mutual:
We can incentivize that community (by passing this proposal) to stake in the Bancor smart contract which ultimately benefits us (it will open up coverage for our members). The project is relatively new (launched in late January) and they have been trying to [bootstrap liquidity](https://medium.com/armorfi/introducing-armor-14cccb5d1699#e72d) in uniswap,sushiswap,1inch, and balancer but not in Bancor. This is a great strategic opportunity for us to engage with that community and bring them over to Bancor (as opposed to other AMMs).
**Recently Updated capacity factors**
| Protocol | Current Factor | Suggested Factor |
| --- | --- | --- |
| Set Protocol V1 | 2 | 4 |
| RenVM | 2 | 4 |
| Argent | 2 | 4 |
| UMA | 2 | 4 |
| Curve All Pools (incl staking) | 2 | 4 |
| Synthetix | 2 | 4 |
| Yearn Finance | 2 | 4 |
| Aave V1 | 2 | 4 |
| MakerDAO MCD | 2 | 4 |
| Balancer | 2 | 4 |
| Compound V2 | 2 | 4 |
| Uniswap V2 | 2 | 4 |
| Gnosis Multi-sig | 2 | 4 |
| Tornado Cash | 2 | 4 |
| Gnosis Safe | 2 | 4 |
| Uniswap v1 | 2 | 4 |