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Episode 142 - Is old dawg Bancor DEX teetering on death spiral now too?
Manage episode 332828223 series 2987037
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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://home.bancor.network/ https://blog.bancor.network/?gi=744b99dc45ce
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