Bancor Community Call | July 1, 2021

Published on: 03.07.2021

Bancor introduced Community Call of July 1, 2021 about BancorV3 progress & LP migration, Protocol activity: the number of unique LPs and traders continues to rise & more.

Marketing focus group

They are in the midst of re-positioning the Bancor brand to more effectively spread awareness. From new messaging to new designs, collateral and growth programs, our goal is to make Bancor easier to understand and to better communicate unique value proposition across key channels to target customer segments within DeFi and beyond.
Anyone interested in joining a marketing focus group aimed at co-creating and executing on Bancor’s go-to-market strategy, please contact @NateHindman on Telegram.
They’re eager to get the community’s feedback, and want to make sure the DAO is behind new brand.

V3 Update

They’re making great progress on the V3 contracts.
Even with all that’s happening in the AMM space, no one has produced anything similar to Bancor V3.
They’re confident they will have the best LP product of any protocol like them and continue building a moat around Bancor’s unique offering.
They’re working on a mechanism that will allow LPs to migrate their liquidity from v2.1 to V3 without needing their vBNT.
This is will remove friction in the migration process for users who have swapped their vBNT into other tokens.

Protocol Activity

Even as the market continues to trend downwards, they‘ve seen usage on the network increasing, with steady growth in the number of unique LPsand traders.
Viewing protocols stats like volume in terms of USD can be misleading since the USD value of most tokens has dropped significantly.
For more reliable indicators, check Dune metrics in ETH or BTC terms
vBNT burning, which is directly correlated with volume on the network, is picking up, with over 550,000 vBNT burned to date.
They’re seeing more and more whitelist proposals directly from token teams, as well as their respective DAOs investing their treasury in Bancor pools. One such example is the BarnBridge DAO, which is providing its treasury tokens to the BOND pool.

As of late, some pools standout in terms of performance. The following APR metrics only include earnings from swap fees and do not include APR from BNT rewards: ENJ (13.34% APR), SNX (6% APR), AMP(13+% APR), ROOK (12%+ APR), BOND (10+% APR), AXS (30+% APR), LQTY (30+% APR)
Communities where they need your help spreading the word about Bancor: FARM, GTC, AAVE, MKR, BAT, SNX, HOT, GRT. Hop in their channels when appropriate and educate them on Bancor!

Other Ecosystem News:

Bithumb listed BNT, which will bring more attention to Bancor in Asia.
Korpi published another killer article on Bancor — this one comparing profits from staking on Bancor vs. Uniswap

Governance Update (22:00)

The community did a temperature check on Snapshot regarding which L2 Bancor should launch V3 on first — Abritrum was the clear winner (73%), with Polygon coming in second (24%).
Whitelists that have passed this week include: RUNE, PERP, NEXO, UNN, ANKR.
They need your help getting the word out in these communities! Hop in their channels and let them know there is a new yield opportunity available on their token on bancor.network.
The ROOK co-investment passed — this is the first time we’ve had to pass a 40% quorum for a co-investment.
There is a proposal to use multiple choice voting for liquidity mining campaigns and other purposes like determining the level of co-investment. They are also looking at Snapshot’s quadratic voting function.