Impermanent, Loss Protection
“Due to hostile market conditions, Bancor’s Impermanent Loss Protection is temporarily paused.”
Bancor is a DEX on Ethereum whose claim-to-fame has been providing protection from impermanent loss on liquidity. Impermanent loss, more accurately called divergence loss, is the difference between the value of your LP token and what the value would have been if you had held the LP’d assets outright.
Bancor uses its BNT token to “protect” LPs from IL by minting tokens to cover the loss LPs experience.