Bancor hosts weekly community calls with core contributors every week in Bancor’s Telegram voice chat. The next call is scheduled for Monday, June 21 at 1pm UTC.

This week, Nate hosted the call with input from Mark, Yudi, and Steven. Here is a summary of the ecosystem and development updates from that call.

A recording of the call can be found here.

Governance Update (3:05)

  • There has been a huge uptick in governance activity spurred by the debates over liquidity mining rewards for our largest pools.
  • We’ve seen more debate and more whitelists recently on gov.bancor.network
  • SUSHI and GTC were recently whitelisted but require seed liquidity.
  • Pools need at least 1000 BNT…


Bancor hosts weekly community calls with core contributors every Sunday 1pm UTC in Bancor’s Telegram voice chat.

A recording of the call can be found here

This week, Mark hosted a call for the Bancor community while Nate is at the Bitcoin Conference in Miami. Here is a summary of the ecosystem and development updates from that call.

Governance Update (0:50)

  • This was an interesting week due to the massive mobilization from the Bancor community who wanted to preserve the Liquidity Mining Rewards for ETH/LINK/wBTC/stablecoins. These were overwhelmingly reinstated after most of them failed to pass their votes last week.
  • This is a welcome reminder for community members to stay involved in…


Vote delegation allows community members to nominate other community members to vote on their behalf.

The vote delegation option can be accessed via the Bancor Snapshot UI; it appears in a dialogue box to the left of the current proposals.

After clicking on the ‘Delegate’ menu item, you are brought to a splash page with two input fields. The first, ‘To’, asks for the address of the delegate (the address to which you would like to assign your voting power). Snapshot supports both ENS domains, and regular ethereum addresses. The second input field asks for the specific Snapshot space, which…


Releases

  • New protection contract — improves the transferPosition functionality for 3rd party integrations

Contracts

  • Fixed solidity coverage report
  • Started migrating tests to typescript
  • Migrated the test deployment script to hardhat so it runs as part of the tests
  • Added more monitoring tools
  • Gas optimizations research
  • Research hardhat deployment plugins
  • Refactored test tokens
  • Removed the whitelist contract
  • Removed unneeded packages
  • Refactored tests and reduced verbosity

Governance

  • Added vote delegation strategy

Front-End

  • Fix 25% => 50% withdrawal bug
  • Increase limit orders to 30 days
  • Dependencies updated
  • Withdraw modal fixed
  • EOS remove liquidity fixed
  • Slippage warnings added
  • Withdrawing position UI improved

Track front-end updates at: https://github.com/bancorprotocol/webapp/issues

Executed Governance Proposals:


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.

A recording of the call can be found here

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…


Releases

  • Trader NFT competition — distributed the first NFT trophies to winning wallets

Contracts

  • Protection — updated transferPositionAndCall with more structured data
  • Fixed tests that didn’t handle specific revert messages
  • Integrated gas reporter plugin
  • Restructured tests based on new contracts structure

SDK

  • Added support for TokenRateUpdate event
  • Fixed ropsten support
  • Fixed terminology inconsistencies
  • Fixed documentation

Front-End

  • Enhanced slippage warnings
  • Add manual withdrawal functionality
  • Upgraded packages
  • Fixed documentation

Track front-end updates at: https://github.com/bancorprotocol/webapp/issues

Executed Governance Proposals:

New Governance Proposals:

Community


Contracts

  • Completed work for the trader NFT competition
  • Completed hardhat migration
  • Replaced custom re-entrancy guard with OpenZeppelin version
  • Moved the contracts out of the solidity directory
  • Added abi files to the npm package
  • Deprecated non standard pool converters
  • Fixed terminology inconsistencies
  • Added bytes32 representation of the registry contract names to the docs
  • Added staking rewards to the test deployment script
  • Removed remaining liquid token references from the codebase
  • Analytics script automation (WIP)
  • Created a script for extracting the list of LPs + their share in a pool

Backend

  • Fixed handling of pool removal from the registry
  • New process for harvesting historical data…


We’re thrilled to announce the launch of a new trader rewards program that awards Bancor traders with limited edition NFTs throughout the month of May.

Once a week—for the next several weeks—one limited edition NFT trophy will be randomly awarded to a bancor.network trader in each of the following 5 categories:

The Trophies

  1. HIGH VOLUME BANCOR BULL — One random winner selected out of the top 20 highest volume trades on bancor.network.


In April, Bancor continued to see rapid growth in trade volume, # of LPs and whitelisted assets.

  • $3.2B monthly trade volume (ATH)
  • 20,000+ active liquidity providers
  • $2B+ TVL
  • 15 newly whitelisted assets
  • $167M+ in BNT rewards paid to LPs (76% re-staked)
  • 61,000+ vBNT burned

This progress report is broken down into the following sections:

  1. Key releases
  2. What’s being worked on
  3. Governance
  4. Release breakdown
  5. Protocol health
  6. Community content
  7. Looking forward

1. Key releases

  • vBNT Burner 🔥 5% of all swap fee revenue is now being burned for vBNT (more)
  • Limit orders: users can now perform gas-free limit orders on bancor.network
  • xBNT: a stake-and-forget solution…


Releases

  • Limit orders
  • New protection contract
  • New Fiat providers: Simplex, Banxa, Ramp
  • New landing Page

Contracts

  • Truffle to hardhat migration (WIP)
  • Normalized ETH/reserve token usages (new ReserveToken contract)
  • Refactored token utils
  • Allow unregistering factories from the converter factory
  • Added transferPosition & transferPositionAndCall in the protection contract
  • Moved unused contracts into the legacy contracts repo
  • Merged StakingRewards contracts into the main contracts repo
  • Fixed an issue that caused APR of new positions to remain at 0 in the first few days
  • Moved price deviation check in the protection contract to an early time in the process
  • Fixed price deviation check on add liquidity…

Bancor

Bancor is an on-chain liquidity protocol that enables automated, decentralized exchange on Ethereum and across blockchains.

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