I agree, Impermanent Loss during a bear market is pretty harsh. Adding this kind of protection will motivate LPs to stay longer and ensure them they will not go broke based on a temporary evolution one way or the other. Still, it requires better tokenomics for the involved DeFi asset(s).
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Bancor ended up facing some issues because of the features they implemented. Let's wish for better things for ThorChain. If there were some complex mechanism to pool multiple assets into a single pool where users can contribute only one asset, it would be amazing. But that would be a massive task to accomplish.
!PIZZA