Yeah, no problem with that!
Let‘s go and put some Gov funds to use
Is 100k POOL the max. amount we can deposit into Bancor V3?
With the POOL price being down I would be OK to deposit $100k worth of POOL into Bancor. We would benefit from the Dual LM rewards up to $100k.
Btw. How does Nexus Insurance work, the insured value is always calculated in DAI? So if POOL price goes up again and over $100k, we would still only get the insured $100k, right? I‘m fine with that, just wanting to clarify.
If we buy $100k now but POOL price is less like now, do we still get $100k? Does it make sure to over insure? We are buying $100k insurance but only deposit $70k worth of POOL atm.
Sorry, for asking all this questions, the Gov thread activity isn‘t that high anyway, so can‘t hurt I guess ^^
Would be nice to have some site somewhere where the community can track the LP status, accured rewards, Impermenant Loss (which thankfully Bancor protects) etc. I guess the Bancor site shows that somewhere.
There is no MAX to the amount that can be deposited, but 100K is a decent starting point. Surely when we decided 100K POOL the price was higher and if we decided now we could increase the amount of POOL. But given that this has already been voted, I’d say to start with 100K and if it gives a good result, increase it later.
Regarding insurance at Nexus, you can do it in DAI or ETH value. If we get insurance for 100K DAI but we only deposit a value of 50K DAI, the compensation can only go up to 50K DAI. It will never be higher than the amount deposited. That’s why it doesn’t make much sense to over insure unless we want to cover for POOL upside value.
Given current market conditions, I think we can probably lower down the insurance value to 70K DAI or so. We can always buy extra coverage if needed.
Sad to see Bancor is currently struggling, hopefully you guys recover fast.
Agree with @BRONDER that it’s better to pause while Bancor is doing some stuff behind the scenes and while IL protection is disabled and then we can reevaluate