# Collateral Onboarding Call #29: Bancor - Wednesday, April 7 18:00 UTC

Collateral Onboarding Call #29: Bancor - Wednesday, April 7 18:00 UTC

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Zoom call
Passcode: ONBOARD


An open discussion where we discuss projects and potential assets for MCD, open for anyone to join.

If you’d like to present, check out this thread.


Intro by @JuanJuan

Bancor by @markrichardson -

MIP6: [BNT] MIP6 Collateral Onboarding Application

Bancor is an on-chain liquidity protocol that enables constant convertibility between tokens.”

Attn: @amyjung, @longforwisdom, @aaron_bartsch, @hongbiao_li, @asaf_shachaf, @mikeabundo, @daniel_kelly, @hichem_fetoui, @tom_bo, @kod, @stephen_smith, @smaugho, @elprogreso, @aburban90, @monet-supply, @joshua_pritikin, @planet_x, @jordan.jackson


Is this mostly a technical discussion or one about economics of implementation? New here and trying to see where I can actually provide some value to the project

Welcome, PaperImperium :slight_smile:

These are usually not extremely technical, but they can be. Whether the emphasis falls on any particular aspect depends on those presenting and on those asking questions. You can watch previous Community Collateral Onboarding calls here to get a feeling of how they can go.

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Watch the replay here: Collateral Onboarding Call #29: Bancor - April 7, 2021 - YouTube


Collateral Call Summary - Episode #29

April 7th, 2021


  • 00:00: Intro with Juan Guillén.
  • 00:35 Bancor with Mark Richardson, Nate Hindman, Asaf Shachaf, Yudi
  • 46:42: Outro




Juan Guillén

Agenda and Preamble


  • Welcome to another MakerDAO Collateral Call. I’m very happy to have Bancor and its team with us. I’m also joined by a bunch of enthusiasts of Maker.
  • Mark, do you want to tell us a bit who you are and your role in Bancor?
  • Discussions about collateral happen in the Forum.


Mark Richardson, Nate Hindman, Asaf Shachaf, Yudi



01:41 — Juan Guillén: For those who don’t know Bancor, could you describe it in a couple of paragraphs?

11:41 — Juan Guillén: I was wondering: if BNT is going down and potentially Bancor is minting more tokens to subsidize this impermanent loss — wouldn’t that create a spiral in which BNT keeps going down and then you need to mint even more?


38:32 - Juan Guillén: I was wondering: usually our Risk team has to do an evaluation and propose what we call the debt ceiling, which is the maximum amount of Dai that can be minted out of a specific token for any kind of given reasons. Would you propose any figure or is there any number that you’re ambitious to start at?

40:26 - Juan Guillén: The use case is quite interesting. Do you think that any user that’s going through this process is mainly to do leverage on their position or is it some other use case that you envision?

43:30 - Payton Prose: I was curious if you knew how many other protocols or platforms have integrated BNT already in terms of borrowing or lending?

45:43 - Frank Cruz (in the chat): In our market, what would be an approximate yield for Dai assuming it would drift downwards? Also, does Bancor support dual-sided liquidity for pools with rewards?

48:11 - Juan Guillén: A question maybe a bit more technical for the Smart Contracts team: is BNT a standard ERC20 token? Is it upgradable? Is there anything they should look for?

49:33 - Payton Prose: In Maker we are exploring Optimism and other L2 solutions. I’m curious if you on your end have been looking into any of that in terms of helping with the gas fees?

52:54 - Juan Guillén: Going back a little bit to the market, if I remember correctly you said that there was 1.7 billion TVL. So, that divided by two would be the amount of tokens that are BNT. And you said that around 30% was kind of free. That’s 255 million. I was trying to size the market…

Closing Comment

Juan Guillén




  • @blimpa produced this summary.
  • Everyone who spoke and presented on the call, listed in the headers.

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