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Bancor pauses impairment loss protection citing 'hostile' market conditions
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Bancor, a decentralized finance protocol often credited as the pioneer of the DeFi space, paused its impairment loss protection (ILP) function on Sunday, citing “hostile” market conditions.In a blog post on Monday, the DeFi protocol noted that the ILP pause is a temporary measure to protect the protocol and the users.
The blog post read:When a user gives liquidity to a liquidity pool, the ratio of their deposited assets changes at a later moment, potentially leaving investors with more of the lower value token, this is known as impermanent loss.
Read more on cointelegraph.comAbout this in other media
Bancor pushes the pause button, but does that really work for BNT ambcrypto.com /5 days ago
Bancor Pauses Protection Mechanism Due to ‘Hostile Market Conditions’ cryptonews.com /6 days ago
Bitcoin crashes to lowest level for two years as Celsius pauses withdrawals finextra.com /1 week ago
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