Hassan Maishera
The Bancor team announced via Twitter on Monday that it has temporarily paused Impermanent Loss (IL) Protection due to the current market conditions. As a result, withdrawals performed during this unstable period will not be eligible for IL protection, the team added. IL protection will be reactivated on the protocol as the market stabilizes. This is a temporary measure to protect the protocol and its users.
Bancor is a decentralized exchange protocol that allows for the creation of liquidity pools to trade assets. BNT is trading at $0.514 at press time, up by more than 4% in the last 24 hours.
