Bancor Progress Update (March 2021)

This article was first published on Bancor - Medium

In the last month, the total value locked in the Bancor Protocol has more than doubled, exceeding $1.6 billion. Bancor broke into the top 10 projects by TVL and now generates the fifth highest revenue of any protocol on Ethereum.

Bancor’s traction in the DeFi world is developing rapidly. LPs are increasingly reluctant to risk their capital under the threat of impermanent loss on competitor protocols. The cosy climate inside the Bancor ecosystem is in high-demand, manifesting in exciting new token listings and a surge in governance activity and community engagement.

Meanwhile, development in the core offering is moving faster than ever. This update covers recent progress and upcoming plans, including:

  • Full Vortex: With phase one of the Vortex roll-out complete, the next step towards Full Vortex is the introduction of a flat protocol fee that uses swap fees to buy and burn vBNT. (Target: 1–2 weeks)
  • Gasless Voting: The vote to transition DAO operations to Snapshot was approved, with gasless voting expected to go live next week.
  • Shadow Tokens: A new pool design will allow for limitless stablecoin pools, with minimal impermanent loss.
  • Origin Pools: A collateralized token launch system to support DeFi gems on the Bancor Network is in the final design stages. Origin pools are designed to offer an IL-protected liquidity solution to new token projects without exposing the protocol to excessively high risk.
  • Fiat Ramp: Users can now exchange between Fiat currencies and ETH directly on the web app, via the MoonPay payments infrastructure.
  • Limit Orders: Strategic integration with KeeperDAO will permit limit-order functionality to be introduced to Bancor AMMs.
  • Trader Incentives and UX: A trader-centric user experience is being developed for the explicit purpose of increasing Bancor’s volume share, and profitability for liquidity providers. The new UX will coincide with the launch of a limited trading ...

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Bancor - Medium

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