Bancor 3 Beta Update
Bancor 3 Beta Status Update: Cycle 1
Bancor 3 Beta has been live since April 19th and will be sharing Beta Updates with each new cycle leading up to the full release planned for May.
Per the BIP16 Beta proposal, capacity for token deposits are being gradually increased and roughly doubled every four-day cycle.
$1M TVL Reached
- Capacity for token deposits is being filled quickly following cap adjustments.
- Current TVL is ~$1m across BNT, ETH, DAI and LINK.
Cycle 2
- With today’s cap increases, Cycle 2 has officially begun.
- The target TVL during Cycle 2 is $1.96m. Note that projected target liquidity and APR may change slightly based on token prices.
Next
- As caps are gradually raised, keep an eye on the smart contracts to see when space becomes available. Contract addresses can be found here.
- Caps will be fully removed for the full release planned for May, enabling unlimited Single-Sided Staking.
- At any point during the proposed 28-day program, the Bancor DAO may vote to end the Beta restrictions, and begin the launch of the Bancor 3 full version.
The Bancor Beta commenced on April 19th, following approval of BIP16 by the Bancor DAO. The Beta is a trial; this is the first time the contracts have been available for users to interact with.
The purpose of the trial phase is to observe the system, and ensure that it is behaving as designed. Bancor 3 has a number of nuances that represent a significant leap forward from conventional AMM behaviors.
A more detailed explanation of the first days of the Beta details and information can be found in this post. Check it for yourself
ABOUT Bancor
Bancor is a decentralized network of on-chain automated market makers (AMMs) supporting instant, low-cost trading, as well as Single-Sided Staking and 100% Impermanent Loss Protection for any listed token.
