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BNT Liquidity Mining was recently approved by Bancor governance, with weekly BNT rewards currently being generated by liquidity providers staking in the 8 selected rewards pools.

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View returns from BNT liquidity mining rewards on bancor.network

LPs who stake in qualifying pools earn BNT rewards retroactively when liquidity mining eventually goes live in the coming weeks.

Now it’s time to vote for the next tokens to receive BNT Liquidity Mining rewards. We are proposing 12 tokens for the community to vote on.

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TVL is climbing as LPs take advantage of Bancor’s new features, including impermanent loss protection, single-sided exposure and BNT liquidity mining. Source: DeFi Pulse

How to Vote

  • Go to Bancor’s Discord and vote for the next 2 tokens to receive BNT liquidity mining rewards.
  • Following a 72-hour voting period, the 6 tokens with the most Discord votes move to on-chain voting, where a YES/NO proposal will be created for each selected token. …
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We propose a BNT Liquidity Mining (LM) program aimed at achieving two primary goals:

  1. Attract new liquidity into Bancor pools
  2. Create stickiness to incentivize long-term liquidity provision

With more liquidity, Bancor stands to win more conversions in the market, which generates more fees for liquidity providers (LPs) and results in increasing APY and protocol revenue.

Users who are initially drawn to yields from BNT Liquidity Mining rewards will hopefully become acquainted with the unique benefits of Bancor v2.1, including impermanent loss protection and single-asset exposure.

High-Level Structure:

The following structure is pending community approval via Bancor governance:

  • BNT liquidity mining will start with 8 pools representing 6 Large-Cap and 2 Mid-Cap tokens. The first round of tokens proposed are the…

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We are excited to announce that OCEAN is among the first tokens to be whitelisted on Bancor v2.1!

Ocean Protocol is a decentralized data exchange protocol that makes it easier for people to publish, auto-price, and sell their data. The recent release of Ocean V3 features datatokens, Ocean Market and IDOs (Initial Data Offerings).

With the whitelisting of OCEAN on Bancor v2.1, users can now stake their OCEAN and earn swap fees while maintaining 100% exposure to OCEAN and with protection against impermanent loss.

This means safer and better returns for liquidity providers, without splitting your OCEAN into a separate reserve asset (like ETH) and without living in fear of price movements reducing the value of your initial stake. …

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This guide outlines a simple process for keeping the Bancor community and core development team in sync as new BIPs are launched.

Step 1: Initial discussion — Begin an initial discussion on your proposal in the #gov-general Discord channel.

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Explain your initiative, rally the community and get into detail about what needs to be done.

Step 2: After gathering community feedback, create an initial draft of your BIP on gov.bancor.network based on the criteria and format outlined in BIP3: “i) BIP Documentation Requirements”.

Step 3: Once your initial BIP draft is live on gov.bancor.network, present it to the Bancor community on Discord in #gov-general. Then ping @Mods requesting a new BIP channel be created for focused discussion on the proposal. …

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In order for a token to be whitelisted and made eligible for Bancor v2.1 features (impermanent loss protection and single-sided exposure via elastic BNT supply), a whitelisting proposal must be submitted to Bancor Governance and reach a 40% quorum.

Step 1: Create an initial draft of your whitelisting proposal on gov.bancor.network based on the criteria and format outlined in BIP3, section 20 (also outlined in the footer of this blog), which requires the following details:

  • Token contract address
  • Project website
  • Discussion
  • Tokenomics
  • Community and Communication
  • Available Audits
  • Market and Trading Data
  • References

Step 2: After drafting your whitelisting proposal, present it to the Bancor community in the token-whitelisting Discord channel. From here you can request that a separate BIP channel be created for focused discussion on your whitelisting request. …

Step 1: Go to bancor.network and click “Add Liquidity”.

Note: The blue shield to the left of each pool indicates if a pool is “whitelisted” and therefore protected against impermanent loss and available for single-sided staking.

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Step 2: Under the Single-Sided Protection option, click “Stake and Protect”:

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Step 3: Select if you want 100% exposure to the base ERC20 token (in this case, LINK) or to BNT. Click the dropdown menu to toggle between BNT and LINK.

Input the amount of tokens you wish to protect. Clicking “Balance” will select the full balance.

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Click “Stake and Protect” and confirm the transactions in the app and in Metamask(x2).

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Your protected single-sided liquidity stake should now appear in the Protection screen. (If it doesn’t, click refresh).

ROI indicates your individual returns, while APR indicates the overall pool returns for all LPs based on 1 day and 7 days of activity.

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Questions?

Reach out to us on telegram: t.me/Bancor

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v2.1 introduces impermanent loss protection & single-sided exposure. Now is the time to stake, protect, vote!

Bancor v2.1 is a protocol upgrade introducing impermanent loss protection and single-sided exposure to AMM liquidity pools via elastic BNT supply.

Since Bancor v2.1 changes the protocol’s tokenomics, it is necessary to gain community approval in order to push the upgrade live.

Voting Begins: 13:00 GMT October 15, 2020

Voting Ends: 13:00 GMT October 18, 2020

Between now and October 18, you must stake tokens on both sides of a whitelisted pool using the base ERC20 token (“TKN”) + BNT.

On Oct 18, approval of v2.1 may proceed and you will be given protection against impermanent loss for the staked tokens. …

A simple guide on how to stake in 50/50 Bancor liquidity pools.

Step 1: Go to app.bancor.network/eth/pool and connect your Metamask (or other Web3 wallet)

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Step 2: Click “Join a Pool”…

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…and then select which pool you would like to add liquidity to.

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Step 3: Input the amount of tokens you would like to supply. The widget will automatically calculate how much BNT and TKN you need to supply on both sides of the pool.

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Step 4: Click “Supply”…

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… review and “Confirm” the transaction in the pop up window.

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… and then “Confirm” the Metamask transaction.

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Once the transaction confirms you will receive pool tokens representing your stake in the pool.

Other Helpful Guides

Once you stake pool tokens into protection, you will receive vBNT equivalent to your stake.

See this guide to learn how to stake your pool tokens into protection.

The following steps will explain how you can stake and use vBNT for governance purposes.

Step 1: Go to the voting interface at: https://app.bancor.network/eth/vote/

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Step 2: If your wallet is connected, you will see your your vBNT balance.

Click on the “Stake Tokens” button to stake your vBNT into the voting contract so you can use them with the governance interface.

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This will open a popup that allows you to select how much vBNT you would like to stake. …

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Today we are hosting a community governance call on Bancor V2.1!

The core Bancor team will discuss the Bancor V2.1 improvement proposal, answer questions from the community and brainstorm on growth plans.

Come with any ideas and questions.

Here are the times for the call:

  • San Francisco: Wed Oct 14, 6am
  • New York: Wed Oct 14, 9am
  • Central Europe: Wed Oct 14, 2pm
  • Singapore: Wed Oct 14, 9pm
  • Sydney: Thurs Oct 15, 12am

You can join the call using Zoom, and there will be an online recording posted to YouTube shortly after.

Zoom Link

Meeting ID: 993 6474 2662
Password: 812983

Further reading on Bancor V2.1

About

Bancor

Bancor is an on-chain liquidity protocol that enables automated, decentralized exchange on the Ethereum and EOS blockchains.

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