Bancor V3 supported on Nansen Portfolio
Bancor v3 is now supported on Nansen Portfolio. Nansen Portfolio enables crypto investors to rapidly create an unlimited number of portfolio dashboards by connecting any number of cross-chain wallets — instantly unlocking critical data and aggregated insights for their on-chain holdings and activity.
The integration allows Nansen Portfolio users to check their Bancor positions on their single dashboard.
Post Ethereum Merge Update
The Ethereum Merge was successfully completed on September 15th.
As of the time of writing, no issues have been detected and reported post Merge. Updates will be shared if any. We are thrilled to see this historic update shipped!
Proposal Review Time Updated to 4 days
The proposal to update mandatory community review time requirements from a minimum of two days to four days has passed. Proposals will now require a minimum review time of four days on Discourse before going up for vote on Snapshot. All proposals shall include a planned time and date for the vote to begin, and cannot be sooner than four days from the time of its publication.
A best practice workflow that details the steps is below:
First DAO Discussion Call: vBNT vs BNT Burn
The first live DAO Discussion was held on Discord. The topic of the call was whether to conduct a trial burn of BNT that has accumulated in the v3 fee wallet. A majority of DAO participants who attended the call came to agreement on burning BNT once the 1M milestone has surpassed. A proposal should soon follow.
If you missed the call, listen to the recording here. You could also check out the original proposal to evaluate the effect of directly burning BNT here.
Bancor DAO Discussions is a new weekly DAO/Community call on Discord hosted by Jen Albert and Mark Richardson, focusing on current proposals on the Bancor Governance. All members of the Bancor DAO/Community are encouraged to join and let their voices be heard.
Simulator Tutorial Session 1–3
The first 3 sessions of the Bancor Simulator Tutorials have now been completed. If you have missed them, check out the recordings on the Bancor YouTube channel where a playlist has been created for the tutorials.
Nine live tutorials will be scheduled at 12PM EST Monday, Wednesday, Friday from the week of 12 September for 3 weeks, around the “Fundamentals of Bancor V3 Simulations” with Mark Richardson and Mike Casale, allowing everyone to learn how to use the simulator and create their own simulations.
The vBNT burn continues with almost 17k of vBNT being burnt daily on average so far in September. Cumulatively, over 254k vBNT have been burnt already for September and over 2.7M vBNT for all of 2022. It is important to note that the protocol has purchased ~832k worth of BNT in v3 that has not yet been swapped for vBNT to be burnt.
To help rebalance token reserves on the protocol, the Bancor DAO previously increased the rate at which fees are used to buy $BNT and burn $vBNT. 90% of fees on Bancor v3 are being used to buy $BNT (as of July 20th), while 100% of fees on Bancor v2.1 are being used to buy $BNT and burn $vBNT.
The chart below shows the amount of vBNT burnt per month from network fees collected in Bancor v2.1. Network fees collected in the destination token as part of a swap are used to buy BNT, swap BNT for vBNT, and burn vBNT. The figure below does not include the Bancor v3 vortex which is currently only collecting network fees and buying BNT (happens atomically as part of a trade on v3).
The cumulative amount of vBNT burnt year to date from network fees collected in Bancor v2.1:
The chart below shows the BNT that has been bought from network fees collected in Bancor v3. Since the Bancor v3 vortex is not yet implemented, this BNT has yet to be utilized for swapping to vBNT and then burning the acquired vBNT.