Bancor DAO mulls proposal for self-arbitrage bot to cover $26 million deficit

Desperate to cover the $26 million deficit, the Bancor community is now considering plans for a self-arbitrage bot. The post Bancor DAO mulls proposal for self-arbitrage bot to cover $26 million deficit appeared first on The Block.

Timeline of Bancor

Crypto analytics firm Santiment says that an Ethereum (ETH)-based altcoin with one of the highest supply on exchanges will see increased price swings after trading sideways for some time.

There's no denying the fact that the global macroeconomic landscape has continued to deteriorate rapidly over the past year or so, thanks, in large part, to the Federal Reserve's quantitative easing measures (such as interest rate hikes).

Due to “hostile market conditions,” pioneer DeFi trading platforms, Bancor, terminated its temporary loss insurance program over the weekend. This prompted accusations that it wasn't truly decentralized.

Decentralized Finance (DeFi) protocol Bancor, often considered a pioneer in the DeFi space, has come under fire after it paused the impermanent loss protection program. The pause was done citing extreme market conditions and comes at a time when liquidity providers need the protection the most.

Bancor, a decentralized exchange on Ethereum, has paused the Impermanent Loss Protection to protect liquidity providers (LPs) as the crypto market slump continues. The DeFi protocol cited large sales of Bancor (BNT) tokens for its action.

Bancor Protocol has ‘paused' impermanent loss protection, blaming hostile market conditions for the move.  The post Bancor (BNT) End Impermanent Loss Protection, Blame ‘Hostile Market Conditions' appeared first on BeInCrypto.

The Bancor team noted large centralized entities have recently sold large amounts of Bancor tokens. The post Bancor DEX pauses impermanent loss protection amid market instability appeared first on The Block.

The DeFi protocol Bancor on Monday said it has paused the Impermanent Loss Protection to protect liquidity providers (LPs) amid extreme market conditions. It will be reactivated once the crypto market stabilizes.

 The crypto town is now showing optimistic numbers, after a turbulent weekend. The market capitalisation of the business has grown close to 8.22% over the day. Which has helped the numbers soar to $874.11 B at the time of press. However, the fear in the community refrains to abate. This time around investors of BNT …

After the launch of Bancor 3, over 100 pools are currently live on Bancor 3 including AAVE, BAT, ENJ, MATIC, SNX, USDC, wNXM, WOO and YFI. This is in addition to the 4 tokens “initially launched, ETH, DAI, LINK, BNT.