Sybil attackers are those who create many pseudonymous identities or addresses and use them to gain unfair influence over a product.
@HopProtocol 3/ The Hop team felt that distributing tokens to such attackers would be unjust to genuine users of the protocol and restrict them from executing a healthy distribution.
@HopProtocol 4/ As a result, the team spent two months crunching data and managed to identify 10k Sybil attackers out of the 45k eligible addresses in the Hop drop.
Here’s a fascinating thread on the team’s methodology to identify Sybil attackers 👇🏻
@HopProtocol@richardchen39@zachxbt 8/ • The rest of the tokens are distributed proportionately among the legitimate eligible users, increasing their $HOP allocation.
2. Redistributes the recovered tokens among genuine users
3. Gets the whole Web3 community involved with a work-to-earn opportunity to find the remaining attackers.
@HopProtocol@richardchen39@zachxbt 12/ This is truly amazing and a token launch mechanism that will surely be adopted by other projects, starting with Optimism!
Optimism announced that it removed an additional 17,000 Sybil addresses and recovered over 14 million OP tokens.
Welcome to our ELI5 series, where we explain crypto native topics in the simplest of terms.
Today we will be exploring what Whales are! 🐋
A mini thread! 🧵
1/ What are whales ❓
These are addresses that control a significant amount of crypto assets.
While there isn't an exact definition of what constitutes a whale, it's safe to say that any wallet that has the potential to move market prices substantially qualifies.
2/ Why are whales important ❓
They can move the prices of tokens massively. This is a recent, e.g., highlighted by @crypto_condom, where one whale smashed the price of @ConvexFinance (billion-dollar market cap. protocol).
Alright! We've waited long enough to reveal this! 🥁
A Paradigm Shift in Multi-Chain Transactions! 😤
We’re proud to announce that @etherspot and @lifiprotocol have made a huge breakthrough in the cross-chain user experience.
Curious? 🧵 👇
1/ Problem: Every time a user wants to explore a dApp on a different chain, they'll have to bridge to that chain and switch the RPC network on MetaMask.
Eg: If a user is on a dApp on Polygon but has funds on Gnosis, they'll have to swap, bridge, RPC switch, switch websites, etc.
2/ However, with Etherspot’s SDK that is powered by @lifiprotocol's cross-chain any-2-any swap functionality, users can now perform any action on any EVM compatible chain without worrying about changing their RPC network on MetaMask or where they have their funds!
And that's a WRAP! Thank you @EFDevconnect & @ETHGlobal for another amazing event: ETH Amsterdam was madness :)
If you weren't bullish before, you couldn't leave Amsterdam with the same mindset. Supercycle confirmed.
So here's a rundown of our time there 👇
1. Frens! First of all, it was an epic IRL team meeting, which we all loved and is super inspiring to our team and project spirit. Remote work is great, but still cannot beat the IRL relationship building. LFG frens! Let's keep #buidling.
2. Panels: Panels and Workshops were very educational, and we are bringing a lot of new knowledge home with us.
Topics included DAO governance, Zero-Knowledge programming, decentralized storage, StarkNet, Light Client tech and more.