acc01ade

super shadowy coder

[acc01ade @acc01ade]

https://t.co/ST1rWx1eQT

[acc01ade @acc01ade]

Relating to the recent @LayerZero_Labs announcement to punish sybil/farmer accounts on the airdrop allocations. I thought it would be important to discuss the issues that this raises, other than the $ZRO airdrop itself. First of all, will LZ update their protocol metrics and filter out all of the transactions that were sybil/farming related? What about all the revenue that was directly derived from the actions of this ostracized group? Will they be refunded? I believe that LZ was aware of the farming, and was planning on excluding them from the airdrop from the start. But it is a dishonest behavior to reveal these details only after the snapshot. We all know that sybils and farmers would have just avoided this protocol and this would have been a non-issue. But instead LZ intentionally chose to farm the farmers, and now doesn’t want to reward them for the value they brought the protocol directly through their actions.
Speaking of value, here’s a Dune dashboard I made. It shows the amount of money that LZ made behind the scenes from all the bridge transactions.

https://t.co/vRaZkFQn61

@PrimordialAA Would love some feedback on this.

DISCLAIMER: I did not farm or sybil LZ, so I am not asking these questions for personal airdrop interests.

[acc01ade @acc01ade]

Relating to the recent @LayerZero_Labs announcement to punish sybil/farmer accounts on the airdrop allocations. I thought it would be important to discuss the issues that this raises, other than the $ZRO airdrop itself. First of all, will LZ update their protocol metrics and filter out all of the transactions that were sybil/farming related? What about all the revenue that was directly derived from the actions of this ostracized group? Will they be refunded? I believe that LZ was aware of the farming, and was planning on excluding them from the airdrop from the start. But it is a dishonest behavior to reveal these details only after the snapshot. We all know that sybils and farmers would have just avoided this protocol and this would have been a non-issue. But instead LZ intentionally chose to farm the farmers, and now doesn’t want to reward them for the value they brought the protocol directly through their actions.
Speaking of value, here’s a Dune dashboard I made. It shows the amount of money that LZ made behind the scenes from all the bridge transactions.

https://t.co/vRaZkFQn61

@PrimordialAA Would love some feedback on this.

DISCLAIMER: I did not farm or sybil LZ, so I am not asking these questions for personal airdrop interests.

[acc01ade @acc01ade]

@heart_ kek

[kethic @kethcode]

Not going to pretend it's healthy, but coffee plus nicotine really does give you superpowers.

[acc01ade @acc01ade]

@heart_ If you live in a Euro city and work online/home, there’s no point to own a car. Been living without a car for six years now. Just walk or Uber when going out. Quite a big difference from when lived in US. Can’t survive without a car there.

[acc01ade @acc01ade]

@33b345 100% agree

[acc01ade @acc01ade]

@nayibbukele Enjoying the taste of freedom, and a promise of a better tomorrow ☕️

[wassieloyer @wassielawyer]

The next stage of industry maturity is when people realise that “USD stablecoin” does not mean 1 USD.

It translates to “token representing dollar claim on the issuer that may or may not be honoured by the issuer which may or may not be solvent”.

[acc01ade @acc01ade]

@0xbluedot @DefiIgnas @0xngmi Seriously getting tiring how every protocol blames NK for the hack.

[acc01ade @acc01ade]

@Polygon1993 Beautiful 😍

[acc01ade @acc01ade]

1 milly 🥳

[acc01ade @acc01ade]

@holographxyz 1 milly 🥳

[Holograph @holographxyz]

Holograph introduces a new crypto primitive ✨

✧ Holographic Assets ✧

Holographic assets enable composable cross-chain value transfer at scale

✓ Maintains data across blockchains
✓ Enforces universal token standards
✓ Composable with any messaging protocol

[POLYGON1993■ @Polygon1993]

I'm excited to announce that "ａｚｕｒｅ" will be my first ever FREE open edition mint with @holographxyz TOMORROW (July 11th) AT 9AM PST for 72 hours across 6 different blockchains on https://t.co/Pmgtomj2x0 ✨

More info below 🧵⤵️

[GonSoku.eth I CMA ❤️ Memecoin @GonSokuCMA]

I wouldnt call greed for fast money ‘young smart builders’.

In the recent NFT/crypto bull cycle, it has become easier than ever to get substantial amounts of money without losing equity, simply by using buzzwords and outsourcing artwork.
Many individuals with strong marketing skills and connections but lacking moral values
(not to generalize all builders in this space, but certainly the majority in the NFT PFP and shitcoin scene)
seized the opportunity to chase after quick profits making grand promises without any solid long-term plans for a sustainable business model.

It seemed more like a strategy of collecting money first, taking a percentage or salary, and then figuring out what to build later. In certain NFT projects or shitcoins it was even common to allocate 30-40% of the funds directly to the founder team and surprisingly no one said something against it.
In my opinion, there were fewer genuine builders and more skilled marketers driven by greed for fast cash.
Many of them lack the ability to work and build something for the long term or to utilize their funding effectively.

Anyone with even a basic understanding of technology and some experience in this field could have launched such projects.
There was a surge in the number of courses available on social media platforms teaching people how to launch an NFT project.
With a bit of luck, momentum, effective marketing, and connections (the so-called "crypto influencers," which are the cancer of the crypto space) minting out new projects was new issue at all.
And if the first project didn't gain momentum, they would simply copy and paste the next one until they found a successful one.

I always asked myself,
"Why should I launch another NFT PFP project if I don't have a long-term business model or any innovative aspect that goes beyond collecting royalties from trades, which will eventually diminish when the next bear market hits?"

The only plausible answer would have been to generate fast cash by selling people big dreams, taking their money and satisfying their gambling desires, all for my own profit, while riding the NFT hype wave as long as possible. However, morally, I couldn't bring myself to do that.

Those who genuinely wanted to build something could have easily raised 100k to 200k in their initial NFT sales round and used that to develop a prototype or a small-scale working business model. From there, they could have attracted larger sales to the public to secure funding for scaling.

At one point p2e guild was making six-figure profits per month, and I received numerous investment inquiries and questions about launching a token. However, I always maintained that the current P2E system was a ticking time bomb, and I didn't want to take external capital or the associated responsibility, knowing that this bomb would eventually explode. But other guilds did, not because of a grand vision, but simply to accumulate even more money. Even though P2E was already highly profitable for larger guilds, especially with the low shares they offered their players, I still questioned why they needed external capital.

Once again, I want to emphasize that I'm not generalizing all builders in this space. However, objectively speaking, what is the purpose of launching the 15th PFP project featuring different animals or anime art?
What innovative concept is behind it, aside from the buzzwords like "building community" and choosing some extras from the options pool, such as staking rewards or token drops, without any long-term thought process?

Currently, we can clearly see which projects are making an effort to execute their long-term vision and potential business models with the funds they've raised. I'm genuinely happy for them, as this represents the positive side of the easy funding available through crypto. It has also supported individuals with big visions who may have never had access or contacts to traditional funding, but crypto made it possible.
It's just unfortunate that this unique funding opportunity was exploited by so many greedy individuals and attracted the masses seeking to gamble on these questionable projects.

Of course, projects or ideas can fail it's part of the game.
However, the founding team must take full responsibility just as customers who bought into the hype of crazy animal NFTs with the hope of selling them to other gambling addicts for a profit.

To generalize NFT builders, defend them collectively, and portray them as trapped victims is completely wrong, at least based on how your tweet reads to me, especially the last sentence.

When they decide to quit, they should be now at least honest enough to admit that they were in it for the fast cash, and it didn't work out as they had anticipated.

Honesty is sorely lacking in this space.

[Holograph @holographxyz]

Holograph is now live on @arbitrum One✨

Deploy, mint, & bridge natively multichain digital assets for pennies on one of the fastest growing L2s on Ethereum

[acc01ade @acc01ade]

@Hypemoon It’s gonna keep dipping.

[acc01ade @acc01ade]

@L0_Corner With Holograph you can mint on any chain. Break out of the mindset of having to choose and stay on one chain only.

[acc01ade @acc01ade]

I love data 🤓