Ten Questions for LayerZero Co-founder: How to deal with wash trading and how to calculate token incentives?
Written by: Nan Zhi, Odaily Planet Daily
LayerZeroWitchThe review is still in full swing. According to LayerZero co-founder Bryan Pellegrino, the final results are expected to be announced before the end of June.WitchFinal list of addresses. Today, BryanWitchThe review and processing calculation methods of attacks and low-value transactions were answered one by one on the X platform. Odaily Planet Daily compiled the full text in the form of QA as follows.
Review criteria and ultimate goal
Before answering the user's question, Bryan Pellegrino first defined what spam transactions are (referred to as low-value transactions in this article) and how to handle and incentivize these transactions. The original text is as follows:
Here's how we think about eligibility right now from a broad perspective. The focus is obviously on real users, and the most consistent, most persistent users that are the fairest and most widely distributed.
This is largely inspired by the results of the witch process, and any real final definition will come directly from LayerZero, not me.
initialwallet6 million, 3 millionwalletIf the number of transactions is less than 5, then thesewalletThis is something that needs to be seriously considered. All transactions below $1.00 will be downgraded to 80%, but will still be calculated at 1/5 of normal transactions, and the same applies to all "worthless NFTs".
Here, the definition of valueless NFT is "market value" or "total transaction volume" is less than 0.00001 ETH. For example, gas drop type transactions are also counted as valid transactions.
Then according to the specific agreement fee (rather thanexchangeAt the bottomBlockchainThe transaction is normalized by the fee of the transaction. The minimum value of the processed data is the qualification standard, and there is also an upper limit. Finally, a multiplier will be obtained based on early usage.
In general: eliminate witches, eliminate junk transactions, capped semi-linear rewards, reward early users, reward persistent users, reward all non-standard protocol interactions such as LP through RFP, etc.
(Odaily Note: RFP is a distribution protocol launched by LayerZero that allows each project toTokenAllocate and establish your own allocation standards. All those who have OApp, OFT or ONFT on the main network contractProjects are eligible to apply for RFP.
QA Collection
Bryan Pellegrino answered some of the detailed questions one by one, and the key points are summarized as follows:
Liquidity Provider Incentives
Q: Liquidity pools are important and they should be rewarded. If someone adds LP for more than a week, there is a 99% probability that it is not Sybil.
A: The incentives (for liquidity providers) will be taken care of by the RFP.
Definition and processing of valueless NFT
Q: I created a nft, cost me 0.003 eth, which is a worthless NFT, obviously it has no price. But I like the NFT I created, and I was one of the first people to try to use L0 cross-chain NFT.
A: These transactions were initiated to use our cross-chain system, and if it were easy to distinguish this from the millions of "worthless NFT" transactions, I would be happy to do so.
I want Holograph to reward creators in the RFP. That's why we have an RFP process.
(Odaily Note: This answer means that this category still belongs to "low-value NFT" and is not within the scope of LayerZero's official direct airdrop. At most, it can be incentivized through RFP.)
Gas Drop Calculation
Q: To be honest, you have integrated more than 50 chains, but the Refuel fee of 90% is less than 1 USD, and the value of each tx is reduced by 80%, and you have punished many users.
A: I think this is a perfectly valid criticism, and it’s part of the reason I made the comment publicly. The original post talked about Stargate and OFT transfers, and each Sybil cluster we reviewed had countless txs from $0.001 to $0.25. I don’t know much about Gas Drop data, but we have to evaluate.
(Note: Gas Drop is Gas refuel, which is usually the cost of replenishing Gas to other accounts at a low cost. This section means that Gas Refuel operations will be included in the incentive scope, but will usually be calculated at a discount.)
Discount calculation method
Q: If I have about 130 Layerzero transactions, of which I have about 10 worthless NFT transactions, is the entire address discounted by 80%, or is the 10 worthless transactions partially discounted?
A: Only those 10 trades, not all of them.
Valueless NFT Definition
A: Market value or total transaction amount at the time of snapshot (lifetime traded value)
How to deal with worthless NFTs and high protocol fees?
Q: If I spend money on a worthless NFT transfer, will it be discounted?
For example, I transferred 5 worthless NFTs and I paid a $50 fee to the protocol; is my fee now $10?
A: Valueless NFTs are 20% traded normally, so you can think of the $1 fee as now worth $0.20 in the entire model.
What does downgrade calculation mean?
Q: What does dweight 80% mean?
A: A normal transaction costs $1 in fees worth $1. If you send $0.01 back and forth across the chain, then each transaction is calculated as 0.01 20%.
LayerZero contractHow are deployers incentivized?
A: There are nearly 60,000 contracts deployed, which is what the RFP is built for and why there is a dev split in the RFP process.
(Odaily Note: This means that you must apply through the RFP to receive the incentive.)
Agreement Fee Meaning
Q: If you bridge STG via stargate, there will be no protocol fees?
A: There are no Stargate protocol fees, but there are LayerZero protocol fees (for DVN and executors). That is what the fees are, not Stargate or other application fees.
How to measure trading volume?
Q: Isn’t volume an important part of all the previous discussions? Why was it removed?
A: Transaction volume is the criterion for a Stargate RFP or OFT, but from a LayerZero perspective, all messages are more or less equal. That’s why sending $100 or $100,000,000 in OFT costs exactly the same.
Q: Think about it, if we assign the same value to a transfer of $100 and $100,000,000, then even a transfer of $0.000001 should have the same weight because "all messages are more or less equal."
A: Yes, in an ideal world of equal use, this is not needed, especially with a lot of low-value transactions of the $0.001-$0.20 type just spinning in circles, and a lot of worthless NFT transactions just to generate tx. I think anything with a legitimate use should be treated as a normal transaction, and anything "obviously" inorganic should be weighted less.
in conclusion
In a nutshell, NFT transactions with a transaction amount of less than $1 and a value less than 0.00001 ETH will be considered low-value transactions (Spam), and the weight will be reduced to 20% when calculating incentives, but it will not affect the weight calculation of other normal transactions. Finally, a semi-linear distribution (semi-linear with upper bound cap) is performed based on the protocol fees paid.
In addition, early users will receive additional incentives, and non-standard LayerZero transactions such as providing liquidity will be handled separately by RFP.
The article comes from the Internet:Ten Questions for LayerZero Co-founder: How to deal with wash trading and how to calculate token incentives?
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