Bancor Announces BNT Governance via 2.1 Upgrade

Bancor – a DeFi Automated Market-Maker (AMM) – showcased token-based governance as well as additional features for the AMM promising to eliminate impermanent loss in its v2.1 upgrade.

The upgrade introduces a governance token wrapper – vBNT – generated by staking BNT in specific whitelisted Bancor liquidity pools. The v2.1 upgrade will change the tokenomics of the existing BNT token by introducing an elastic supply used to enable single-sided exposure & impermanent loss protection.

Existing AMM pools generally require users to take on exposure to assets outside of a user’s native holdings, inevitably incurring impermanent losses. While there have been many approaches to liquidity provider incentivization, it’s fair to say that no one has solved the puzzle of impermanent loss quite yet. Bancor’s new announcement looks promising and seems to be a fresh take compared to what is currently live on the market.

How Does It Work?

In Bancor’s new model, liquidity providers would accrue liquidity protection over time while collection fees from swaps, theoretically making the prospects of being a long term liquidity provider much more attractive.

Bancor will use its protocol token, BNT, as the counterpart asset in every pool, starting with 60 possible whitelisted pools, half of which have already been whitelisted today.

To learn more about the new governance token and upgrades made to the AMM check out Bancor’s blogpost here.

If you’re interested in staking BNT to receive vBNT and partaking in Bancor governance, check out their detailed staking guide here.

What’s Next

In order for any of the exciting changes covered above to occur, BNT holders must vote in favor of the Bancor v2.1 proposal. Voting on the proposal began today and last for 3 days. A quorum of 20% of staked vBNT will be required to approve the proposal.

You can join the discussion on Bancor v2.1 on their Discord governance channel or their Telegram Group.

To stay up with Bancor, follow them on Twitter.

The post Bancor Announces BNT Governance via 2.1 Upgrade appeared first on DeFi Rate.

Boardroom Raises $2.2M Seed Round for Governance Management

Boardroom – a governance management platform – has closed a $2.2M seed round led by Standard Crypto to create a cross-platform governance aggregator.


Boardroom believes that crypto networks will overtake traditional forms of management and ownership structures. It aims to provide the tooling & infrastructure necessary to scale the new ownership economy through a trusted governance dashboard by supporting protocols like Compound, yEarn Finance, Powerpool, Rarible, Yam, Aave, Balancer, and Curve.

The seed round comes with participation from VariantCoinFundIDEO CoLab VenturesFramework Ventures, and Slow Ventures along with community-based organizations and angels MetaCartel VenturesDivergenceThe LAOStani Kulechov (Aave), Kain Warwick, Jordan Momtazi (Synthetix), Tarun Chitra (Gauntlet), Spencer Noon (DTC), Bollinger Investment Group, and Free Company.

Why Boardroom?

Managing governance across multiple protocols is becoming increasingly more complex as different standards and voting frameworks are being introduced every day.  The Boardroom Hub gives users a simple way to participate across various protocols all through one dashboard, offering extensions and context on proposals to easily inform decisions and delegating voting power to trusted individuals.

Besides building tools for high-value digital stakeholders to scale their governance participation across various protocols, Boardroom also aims to serve as an aggregator of fragmented data relating to governance. The Boardroom SDK will give builders an easy way to access standardized governance data across protocols. This data can be integrated into any native UI, providing a foundation on which others can continue to build on top of.

Company Origins

Boardroom started as a hackathon project named Kora Governance, the first minimum viable version of Boardroom was launched 4 months ago. Since then, the idea has been able to greatly improve the product with the help of feedback from proven builders and industry leaders such as Stani Kulechov, Kainwarick, Tarun Chitra, MetaCartel Ventures, and more.

The Boardroom team has made it clear that their doors are open if any builders want to chat about governance systems and UX. If you’re interested in participating in giving feedback on Boardroom or otherwise engaging with the team, join their Discord here.

The raise goes to show that governance is continuing to grow in DeFi as platforms like Snapshot and Boardroom offer tools for teams to quickly plug into voting tools to better engage token communities in a simple, intuitive fashion.

To stay up with Boardroom, follow the project on Twitter.

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