This article was first published on Bancor - Medium
Bancor V3, mining rewards & DAO updates
Bancor hosts weekly community calls with core contributors, every Sunday 1pm UTC in Bancor’s Telegram voice chat. A big thanks to Bias and Milo for writing the summary notes for today’s call.
Dev Update (12:25)
- Last week V3 was announced, which will be by far the largest and most significant upgrade for Bancor.
- V3 incorporates community feedback and a core discovery (details TBA), a killer feature that will not be easy to replicate because it relies on Bancor’s unique protocol design.
- Capital efficiency is an important topic in the AMM space (Uniswap V3, etc) but this efficiency also leads to high risk of impermanent loss.
- Concentrating liquidity hurts passive LPs and helps those with the best algorithms such as trading firms.
- Bancor V3 will allow for higher capital efficiencies without requiring active management or 3rd party automatic LP tools.
- We think that fees under V3 will be a lot higher while LPs will stay fully protected from IL.
- The features and design of V3 are set, coding is happening now!
- In terms of L2, we are designing V3 on Ethereum L1 and once it is complete, we can rapidly deploy it to L2.
- Our three core principles driving V3:
- Get as many assets on Bancor as possible, including streamlining whitelisting
2. Deliver the best APYs and tools for passive LPs. Low costs and low friction.
3. Drive more trade volume through a world-class trading UI and advanced trading functionality.
- We want to put professional financial tools in the hands of everyday users. ...
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Bancor - Medium