bancorprotocol / bancor-contracts-solidity-legacy Goto Github PK

Hello,

1st of all, thanks a lot for the work you've been doing since the creation of Bancor !
Trying to learn about DeFi by studying the smart contracts of the biggest protocols. Started with Uniswap v1 and now focusing on Bancor v1 and v2. Would it be possible to provide me with more details (any blogs or whitepaper or external references would be nice) so that I understand the following:

• What's the meaning of "beta" . Ex: available as a temporary mechanism during the beta. Does it mean "beta launch"? (Hence, a temporary protection mechanism)
• stakedBalances : Since the staked balance is higher than the reserve balance. does it mean that liquidity providers cannot all withdraw their reserve tokens at once? (sorry, maybe the question is too naive)
• AMPLIFICATION_FACTOR: what's the purpose of amplification. Could you please also explain the formula in amplifiedBalance() function?
• What's the purpose of oracleDeviationFee ? I see that it is setup by the owner. How to come up with the right configuration without harming the users?
• If I understand correctly, one of the main difference with LiquidityPoolV1Converter is that the reserve weights are dynamic and recalculated with effectiveReserveWeights correct? what are the benefits of having dynamic reserve weights?
• Can you explain the balancedWeights and balancedWeightsByStake in bancorFormula ? I don't understand the origination of this formula x = W(t / r * q / p * log(s / t)) / log(s / t)
• How do you come up with crossReserveTargetAmount in bancorFormula ? Is it a combination of purchaseTargetAmount (reserve1 --> main token) and saleTargetAmount ? (main token --> reserve2)
• Can you explain why rebalancing pushes the current primary reserve token balance to its staked balance?
• I understood that with bancor v2, LPs are protected against impermanent loss. Does removeLiquidity() guarantee LPs to get back at least the same amount of reserve token they provided in addLiquidity() ?

thanks a lot for your help

This limiter appears to be causing problems.

I want to upgrade my old legacy pool to v2.1 but i cannot do any transactions without a reversion.

I have been discussing this with Glenn in length on discord and you a little but I think I may have pinned down the issue.

If this needs to be updated for the USDB system from the Top level yudi, you'd have to be the guy to upgrade the prices to accounting for the high GWEI costs these days in gas.

Fortunately you built in a way to fix it:
/**
* @dev allows the owner to update the gas price limit
*
* @param _gasPrice new gas price limit
*/
function setGasPrice(uint256 _gasPrice)
public
ownerOnly
greaterThanZero(_gasPrice)
{
gasPrice = _gasPrice;
}

I do not think this is a Per-converter thing, but a protocol systemic limit.  Thus only the private key owner for the system [I believe this is you Yudi] can change this limiter.

Please upgrade this so i can finish my converter upgrade? I am stuck halfway through with it!

Thanks!