External Coverage of ILP on Bancor

We are seeking approval for depositing $30,000 worth of tokens into Bancor’s External Impermanent Loss Protection contract, as stated in the Bancor whitelist proposal. This will encourage investors who believe in our vision, but are afraid to suffer losses in case it succeeds. In addition, it will display our own trust in the project, and bring more attention to it.

In addition, we take this opportunity to report that in accordance with the last DAO decision, we have transferred a total of 3,201,000 tokens to the Ethereum ⇔ EOS bridge, and we hope to transfer twice that amount in the current quarter.

To vote on this proposal, you will need to stake BBS tokens and lock them in the BBS staking system for at least one additional quarter beyond the current one, with each extra quarter raising your voting power by 25%.