I created a proposal in the Bancor Governance forums that would add liquidity mining rewards on the COMP-BNT pool:
It would be great for any BNT holders in this community or members in general to show their support. Voting will go live tomorrow on snapshot at 2021-07-12T12:00:00Z. For anyone not familiar with Bancor, there are two key things that differentiate it from other AMMs:
Single-Sided Exposure: LPs can provide liquidity to a pool with single-sided exposure, either in an ERC20 token (“TKN”) or in BNT.
Impermanent Loss Insurance: Impermanent Loss Insurance accrues over time, by 1% each day, until 100% protection is achieved after 100 days in the pool. There is a 30-day cliff, which means that if a liquidity provider decides to withdraw their position before 30 days passes, they’d incur the same IL loss experienced in a normal, unprotected AMM. If an LP withdraws any time after 100 days, they receive 100% compensation for any loss that occurred in the first 100 days, or anytime thereafter.
If the Bancor DAO approves Liquidity Mining rewards then single sided LPs in the COMP pool will also get BNT in addition to fees (payed in COMP) generated from trading in the pool.
Some large votes came in overnight and quorum has been reached. At this stage, it is going to be very hard to defeat this proposal. The proposal has 22 hours remaining.
Just a quick note that there will be a renewal proposal for the Compound pool brought up to the Bancor DAO at week 5. The renewal will seek to extend liquidity mining rewards for an additional 8-12 weeks and chances are that the Bancor community will vote in favor given the large turnout for the initial proposal. If other renewals extensions for other communities such as SNX and AAVE that were recently passed are any indication then my guess is that these rewards will be renewed.
