We are super excited to announce that $MONA token reached quorum on snapshot voting this week to be whitelisted for whitelisting on Bancor AMM!
Thank you to the Bancor community for supporting the project and whitelisting $MONA. The MONA-BNT pool will soon be live, allowing for $MONA holders to stake single sided with impermanent loss protection.
Our co-investment limit is 150K BNT which will allow for roughly ~$600K (assuming $4 BNT price) in single sided $MONA deposits. At full capacity, this should equate to a pool that has 1.2M in depth and providing additional liquidity for $MONA.
The impairment loss protection starts linearly vesting immediately when $MONA is deposited into the pool and can be utilized after the 30-day cliff is reached. At 30 days, $MONA Liquidity Providers will have 30% IL coverage, and the complete impermanent loss protection is activated once the $MONA token is pooled for more than 100 days.
Bancor is the only AMM with single sided staking and the most innovative impermanent loss protection solutions. This is just the start of an exciting new journey for all of us as we continue navigating Fashion x DeFi and we are grateful that Bancor is one of the first communities that we get to set off on this phase with.
A step-by-step will be posted for staking in the $MONA-BNT pool once the pool is live!
