glenn (B, 3) Profile picture
Mar 21 9 tweets 5 min read
@Bancor #B3 beta going live in first week of April with four pools. $BNT, $ETH, $DAI, and $LINK.

140K in $BNT rewards have been set aside for incentivizing the beta which will last roughly 4 weeks.
@Bancor /2
We are estimating that the first audit with @peckshield will be complete when the #Bancor B3 beta goes live in April.

At the same time we will begin our second audit with @OpenZeppelin shortly after.
/3
While the #Bancor B3 beta is live, we will have an ongoing bounty program for $1m.

The public code will be made available for everyone to review at this point in time.
/4
The #Bancor B3 beta will have caps on the four pools that will gradually increase throughout the 4 week period.

You can expect a $60m cap in the beta for the participating pools.
/5 Anyone will be allowed to participate in the #Bancor B3 beta and instructions will be made available when it is on mainnet.

There will not be a frontend made available, every interaction will have to be done through etherscan.
/6
The #Bancor B3 beta will be running the full production code and this will be upgraded to PROD once the beta period is over.

If you participate in the beta, then you won't have to unstake/restake when Bancor B3 PROD goes live.
/7
Full release for #Bancor B3 appears to be last week of April first week of May.

We will have the new front end go live with the prod release of B3 in addition to LM rewards from the Bancor side and third-party projects.
/8
The current audit is going as planned and there have been no major bugs found. Everything that has been discovered has been minor.

Pending at the moment is a formal proof for the withdrawal logic in #Bancor B3.
/9
We ask for the community to be patient as we are proceeding with caution while we roll out #Bancor B3.

We appreciate your continuing support in the roll-out of the best AMM in the history of DeFi💪

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More from @PrimalGlenn

Jan 7
I have seen a lot of large $LINK stakes come through recently on @Bancor this week. PSA, If you are an LP in another AMM, as the price of $LINK starts to run up against $ETH you will end up with less $LINK and more $ETH (the less valuable TKN)

A short 🧵👇
2/
The Uni V2 $LINK - $ETH pool is the second largest by depth on Ethereum (~23m ATM). LPs in the past 30 days, are down by ~22%❗after you subtract the loss due to IL from the fees collected.

More recent LPs are down as much as ~50%‼
3/
It's a similar picture for the $ETH - $LINK pool on sushiswap🍣. LPs that entered a position in the past 30 days are in the red at the moment.

With all the positive chainlink news, I think that $LINK will outperform $ETH this year. This means many 💔for LPs.
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