Thread by @R3d_Herring

1/15
We noticed something shady going on and once again we are going to call it out.

Based on our analysis, we have reasons to believe @staderlabs is not acting in good faith again. They were previously called out for showing "fake"/higher returns back in Terra Classic.

🧵

@staderlabs 2/15
This morning we got kicked out of the active set by a new validator (North Star) and we tweet about it here -

https://twitter.com/R3d_Herring/status/1535092200257662976?s=20&t=1mnMnOmrrs3cog1Hkf17fg

Long story short, @staderlabs redelegated 121k $LUNA to North Star pushing them into the active set.

@staderlabs 3/15
It sounds perfectly fine until you look closer at the details. The delegation to North Star is way oversized and not balanced/spread out evenly with the other validators that has an average of 33k. This screenshot was taken in the morning, it looks even more ridiculous now.

@staderlabs 4/15
These are the transactions which explains why those validators had less than 33k $LUNA:
1. Redelegate from FreshLUNA.com
finder.terra.money/mainnet/tx/5F8…
2. Redelegate from TERRA-FIRMA
finder.terra.money/mainnet/tx/DFF…
3. Redelegate from NITAWA
finder.terra.money/mainnet/tx/27A…

@staderlabs 5/15
2 hours later, North Star got kicked out of the active set when Kucoin came into the picture.

However, 1 hour after that, North Star was able to rejoin the active set again. Guess what? With the help of @staderlabs where they redelegated another 201,500 $LUNA.

@staderlabs 6/15
These are the transactions:
4. Redelegate from @Allnodes
finder.terra.money/mainnet/tx/8C2…
5. Redelegate from @forbole
finder.terra.money/mainnet/tx/A48…
6. Redelegate from BlockNgine
finder.terra.money/mainnet/tx/81E…
7. Redelegate from MANTRA DAO
finder.terra.money/mainnet/tx/C51…

That's not all...

@staderlabs @Allnodes @forbole 7/15
8. Redelegate from @AuraStake
finder.terra.money/mainnet/tx/C5A…
9. Redelegate from @orbital_command
finder.terra.money/mainnet/tx/E17…

Why is @staderlabs putting in so much effort in helping this new and unknown validator?

@staderlabs @Allnodes @forbole @AuraStake @orbital_command 8/15
This is how the delegations look like now. Oversized delegation to North Star with an average of 1.8k $LUNA to the rest of the validators except @SmartStake. I guess SmartStake will always have a special place in everyone's heart. lol.

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake 9/15
Is this how @staderlabs should be acting when they said they would be helping to decentralize the network? Whatever they did to push North Star into the active set is shady as hell. The only logical conclusion we can arrive at is this is their own validator...

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake 10/15
If this is indeed their own validator, I believe the community would have been supportive had they been transparent and upfront about it. Definitely not when they are trying to hide things in this manner which looks really bad.

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake 11/15
@staderlabs takes a cut by providing liquid staking services and is requesting for the builder grant/fund. Are they trying to take more cut by setting up their own validator? Regardless, we feel they have sort of betray the trust of the community if that is indeed the case.

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake 12/15
Unless @staderlabs can clarify/provide an explanation, I will recommend #LUNAtics to unstake and not use $LunaX. Instead consider community project such as @LiquidSteaking that serve similar purpose of auto-compounding staking rewards with no additional fees through $STEAK.

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake @LiquidSteaking 13/15
Right now North Star has 1.3m $LUNA delegated to them with just 10 unique delegates. One of the wallet (suspected to belong to @stablekwon) even redelegated 1m $LUNA.

Anyone has any clue why/how North Star is getting all these support?

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake @LiquidSteaking @stablekwon 14/15
To be honest, with all these discovery, we feel discouraged. This feels like a whale/connection game that we simply can't win.

As much as we would like to remain optimistic, we need ~172k $LUNA to get into the active set now which is almost impossible.

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake @LiquidSteaking @stablekwon 15/15
Hence, we have decided that if we can't get into the active set or anywhere near it by the end of the month, we will cut our losses. Thank you for those that supported and staked with us so far. As for the giveaways, we will definitely still honor them.

@staderlabs @Allnodes @forbole @AuraStake @orbital_command @SmartStake @LiquidSteaking @stablekwon Please do check out our pinned tweet for our stories/plans -

https://twitter.com/R3d_Herring/status/1531098724515971072?s=20&t=forH8d_RUiBIXBy6mtRIwQ

We are also running an ongoing giveaway🎉 hoping to get into the active set -

https://twitter.com/R3d_Herring/status/1531603647821250560?s=20&t=P_-ECf1nk6GPl09np7HHGA

To delegate/redelegate, simply head over to this link - station.terra.money/validator/terr…