Bancor

For this proposal to pass, it requires a minimum of 35% quorum and 66.7% supermajority.

Voting Instructions

Voting FOR this proposal supports launching V3 with the ETH, LINK, DAI and BNT pools. Additionally, a standard rewards program is proposed on the BNT pool.

Voting AGAINST this proposal supports the requirement for all 150+ whitelisted tokens to become available immediately at the conclusion of the Beta testing program.

Summary

The Bancor DAO recently passed a proposal to end the Bancor 3 Beta.

This new proposal proposes that upon the release of V3, V3 starts with only the ETH, LINK, DAI and BNT pools that were included in the Beta.

The reason is simple. Security. Security is the most important aspect of the Bancor Protocol.

This will give additional time to researchers, DAO members and white hats to continue to monitor V3 and highlight anything unexpected.

It is for this reason that it is proposed to release V3 without any limits on those pools and continue to monitor until another proposal is posted in the coming days/weeks to release all other whitelisted pools.

Anyone who has been in DeFi and Crypto for any significant amount of time will understand the risks that the Bancor DAO is seeking to protect itself and LPs from.

Auto Compounding

In order for BNT auto compounding rewards to be live, the protocol needs to own a sufficient amount of BNT (which are acquired when tokens are staked by users).

With a slower pool release schedule, this is likely an impossible program until more pools are added following a subsequent proposal.

In order to ensure an efficient migration of BNT liquidity, this proposal proposes that a total of 35,000 BNT be used for a standard rewards program running for 1 month.