Episode 470 - Is old dawg Bancor DEX teetering on death spiral now too?

Eureka Street Creative Podcast

English - June 28, 2022 13:30 - 33 minutes - 77.6 MB - ★★★★★ - 1 rating
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Previous Episode: Episode 141 - Celsius under investigation - What is Parity Substrate and how does Polkadot use it?

Next Episode: Episode 143 - Is Coinbase doomed to fail or is this an undercover buying opp?

Good morning! This morning I go through a CryptoSlate article that coevrs the current issue of Bancor freezing their impermanent loss protection service. This service, along with their tempting rewards are why many people jumped participating into Bancor's DEX LP's in the first place. Two of these participants are most likeley Celsius and 3AC who are going through a death spiral themselves. Their death spiral is possibly causing havoc on Bancor's liquidity along with an anonymous large shorter of the BNT token. Bancor is shutting off deposits and pausing impermanent loss protection while they strategize how to best resolve the situation. Is this all a shell game or an honest and ethical pause? You decide for yourself!

Sources:

https://cryptoslate.com/whats-going-on-with-bancor/

https://twitter.com/hasufl/status/1538774433359441920?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1538774433359441920%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcryptoslate.com%2Fwhats-going-on-with-bancor%2F

https://home.bancor.network/ https://blog.bancor.network/?gi=744b99dc45ce

Twitter Mentions

@hasufl