2022-07-26 01:01:40
After suspending the “Limited Impermanent Loss (IL)” feature, Bancor was met with a lot of criticism from the community. In addition, recent data is not very positive for this project.
TVL continuously dropped
After the liquidity crisis broke out in early June, Bancor suspended the “Limit Impermanent Loss” feature. The project explains that this step is necessary to protect the Bancor community, especially after Celsius repeatedly withdrew liquidity from the DEX because of liquidity and debt-related issues.
>> See more: Bancor discontinues the feature “Limit Impermanent Loss” – Twitter community continues to wave
At the time of writing, according to data from Defillama, it is 165 million USD, down ~30% since the project announced the decision to suspend IL Protection.
It is worth mentioning here that most of the other DEXs have recovered in the TVL index in parallel with the market trend. However, Bancor has not yet seen the end of the fleeing wave.
The largest amount of money withdrawn from Bancor (after the IL Protection feature was suspended) came from 2 assets, Ethereum and LINK.
Latest update from the team
This morning, Bancor’s Twitter page also posted the latest updates on many changes in the near future.
Bancor Update – Week of July 18, 2022
-Protocol recovery models
-Fee-burning and liquidity optimizations
-Evaluating fee-generating integrations and products
-Protocol analytics dashboard
-The surge in DAO participationDetails:https://t.co/zMM6q7XS68
— Bancor (@Bancor) July 22, 2022
“A few changes for the week of July 18, 2022:
Protocol recovery model
Mechanism of burn fee and liquidity optimization
Reassess products and integrate features that generate more revenue
Set up data tracking tables
Deploy the DAO governance model more effectively.”
As can be seen, Bancor is prioritizing the burning of BNT tokens from the amount of fees collected, but the price to pay is that the amount of fees for the liquidity provider (LP) will be reduced.
Synthetic CHK
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