Bancor pauses impairment loss protection citing ‘hostile’ market conditions
Veteran DeFi protocol Bancor came under heavy scrutiny for pausing the impairment loss protection program at a time when liquidity providers need it the most. Bancor, a decentralized finance (DeFi) 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:“The temporary measure to pause IL protection should give the protocol some room to breathe....
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