[ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem

[DigitalNinja]

Judgment day. Lets see how the pricing works. Alot of people couldnt get in. It will cost dumpers dearly. This is going to be interesting.

[DigitalNinja]

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Ah ffs

[Shahrul09]

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Ah ffs

By the devs in telegram,
For those whose frustrated.



Some background for those who want more info... We run extensive tests to identify systemic flaws, including various issues from front-running to other mechanisms that can be used in an attempt to manipulate the price of the smart token. Over the past weekend, together with our auditors we managed to find a very rare edge case in which under certain circumstances a trader could in theory exploit the formula. There are a number of band-aid solutions that would allow us to release today (from limiting transaction size to adding a very small fee to make the exploit unprofitable), however, we prefer to solve the issue at its source. We actually deployed a fix last night that seems to work, however given the scale of this project and the expectations we all have of the Bancor protocol, we want to re-run all our tests. This shouldn't take long, but better to be safe than sorry.

[tobeaj2mer01]

Bancor would be huge, guys!

[Dvd1989]

Judgment day. Lets see how the pricing works. Alot of people couldnt get in. It will cost dumpers dearly. This is going to be interesting.

Judgement week :-)

[paulmaritz]

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Ah ffs

By the devs in telegram,
For those whose frustrated.



Some background for those who want more info... We run extensive tests to identify systemic flaws, including various issues from front-running to other mechanisms that can be used in an attempt to manipulate the price of the smart token. Over the past weekend, together with our auditors we managed to find a very rare edge case in which under certain circumstances a trader could in theory exploit the formula. There are a number of band-aid solutions that would allow us to release today (from limiting transaction size to adding a very small fee to make the exploit unprofitable), however, we prefer to solve the issue at its source. We actually deployed a fix last night that seems to work, however given the scale of this project and the expectations we all have of the Bancor protocol, we want to re-run all our tests. This shouldn't take long, but better to be safe than sorry.

I am glad they're looking out for our interests. It is better to be late than to come out guns blazing and get shot in the face.

[Trustor]

Pretty nice they dont release the tokens if everything is not ready.
It's better things go smoothly 

[inck]

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Great decision! We don't want BANCOR to be the next DAO.

[paulmaritz]

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Great decision! We don't want BANCOR to be the next DAO.

Exactly. Better safe than sorry.

[dishku]

don't be stupid. not accurate at all.

Who exactly claimed it is an accurate price? Don't be an asshole on the back of your own assumptions. We're happy because it got listed.

It's not really listed is it? Only on HitBTC

It's IOU token even this token is listed on Bittrex and Liqui but they are waiting to hear from the team for activation of this token. I hope it will be over $10 when this market will open these exchanges.

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

[Dvd1989]

don't be stupid. not accurate at all.

Who exactly claimed it is an accurate price? Don't be an asshole on the back of your own assumptions. We're happy because it got listed.

It's not really listed is it? Only on HitBTC

It's IOU token even this token is listed on Bittrex and Liqui but they are waiting to hear from the team for activation of this token. I hope it will be over $10 when this market will open these exchanges.

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Is it true that there is a big chance the whales will dump their tokens for max profit? That will make sure the IOU price will take a hit

[vroomfundel]

How does the activation affect us anyway? It will allow trading against ETH at a fixed rate of 100:1, guaranteeing a price floor, but other than that - not much if I understand correctly.

[DigitalNinja]

don't be stupid. not accurate at all.

Who exactly claimed it is an accurate price? Don't be an asshole on the back of your own assumptions. We're happy because it got listed.

It's not really listed is it? Only on HitBTC

It's IOU token even this token is listed on Bittrex and Liqui but they are waiting to hear from the team for activation of this token. I hope it will be over $10 when this market will open these exchanges.

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Is it true that there is a big chance the whales will dump their tokens for max profit? That will make sure the IOU price will take a hit

Because of how bancor works any one dumping lots of tokens is going to lose money hand over fist. IMO alot of prople couldnt get in and and will purchasde new tokens from the reserve fund/exchanges. How ever lots of ppl will trade on the exchanges and not within bancor itself so we could so some nice arbitrage opps.

[burner2015]

How does the activation affect us anyway? It will allow trading against ETH at a fixed rate of 100:1, guaranteeing a price floor, but other than that - not much if I understand correctly.

Where did you read fix rate?

I think it can go up, but hard to go down?

[22naru]

How does the activation affect us anyway? It will allow trading against ETH at a fixed rate of 100:1, guaranteeing a price floor, but other than that - not much if I understand correctly.

Where did you read fix rate?

I think it can go up, but hard to go down?

exactly for 2 years they guaranteeing a price floor of 1 BNT = 0.01 ETH. but it depends were you want to sell... by smart contracts or on exchanges. the price will be higher because will be big demand and use.... but can go down aswell if some bugs or issues appears.
check https://blog.bancor.network/

[Shahrul09]

How does the activation affect us anyway? It will allow trading against ETH at a fixed rate of 100:1, guaranteeing a price floor, but other than that - not much if I understand correctly.

No the smart contract price will not be fixed at 0.01 eth. That absurd.
The price will go up and down according to the number of token produce and destroyed, along with the influences of arbitrage balancing price from the exchanges;

[Shahrul09]

How does the activation affect us anyway? It will allow trading against ETH at a fixed rate of 100:1, guaranteeing a price floor, but other than that - not much if I understand correctly.

Where did you read fix rate?

I think it can go up, but hard to go down?

exactly for 2 years they guaranteeing a price floor of 1 BNT = 0.01 ETH. but it depends were you want to sell... by smart contracts or on exchanges. the price will be higher because will be big demand and use.... but can go down aswell if some bugs or issues appears.
check https://blog.bancor.network/

Woo. They have a limited fund (120k eth) for the buy back at 0.01 when its available. Not for fully 2 years.

When the fund run out, it can go down below ico within the 2 year period.

[Freaks]

How does the activation affect us anyway? It will allow trading against ETH at a fixed rate of 100:1, guaranteeing a price floor, but other than that - not much if I understand correctly.

Where did you read fix rate?

I think it can go up, but hard to go down?

exactly for 2 years they guaranteeing a price floor of 1 BNT = 0.01 ETH. but it depends were you want to sell... by smart contracts or on exchanges. the price will be higher because will be big demand and use.... but can go down aswell if some bugs or issues appears.
check https://blog.bancor.network/

Woo. They have a limited fund (120k eth) for the buy back at 0.01 when its available. Not for fully 2 years.

When the fund run out, it can go down below ico within the 2 year period.

AFAIK they will buy back their own platform where members will get opportunity to exchange these tokens to other listed tokens and with ETH too. Maybe I missed to read that information can you share the link of info?

[Shahrul09]

How does the activation affect us anyway? It will allow trading against ETH at a fixed rate of 100:1, guaranteeing a price floor, but other than that - not much if I understand correctly.

Where did you read fix rate?

I think it can go up, but hard to go down?

exactly for 2 years they guaranteeing a price floor of 1 BNT = 0.01 ETH. but it depends were you want to sell... by smart contracts or on exchanges. the price will be higher because will be big demand and use.... but can go down aswell if some bugs or issues appears.
check https://blog.bancor.network/

Woo. They have a limited fund (120k eth) for the buy back at 0.01 when its available. Not for fully 2 years.

When the fund run out, it can go down below ico within the 2 year period.

AFAIK they will buy back their own platform where members will get opportunity to exchange these tokens to other listed tokens and with ETH too. Maybe I missed to read that information can you share the link of info?

have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows:
20% will be allocated to the BNT Ether Reserve, to further improve the liquidity of BNT, which increases stability while reducing conversion costs (price slippage) for all.
80% will be locked for two years in a smart contract that will buy back BNT for 0.01 ETH (the initial price) whenever it is available, according to its calculated price. The purchased BNT will be added to the Foundation’s long-term budget, and after a 2-year period, any remaining ETH will be allocated pro-rata according to the “Use of Proceeds” chart in our Token Creation Terms.



https://blog.bancor.network/the-community-of-the-currency-9770087fde17

[Fredomago]

Token Activation Update: https://blog.bancor.network/token-activation-update-285ba81995b1

Great decision! We don't want BANCOR to be the next DAO.

Exactly. Better safe than sorry.

its really hard but its good rather than to fail for the future of this coin project, decision needs to be done and taking it for the
benefits of both the project and investors is a must, lets wait for more updates coming from the dev,