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🚨 Thread : What is happening at @prjx_hl regarding the points campaign poses a real transparency issue 🚨
Context : The campaign planned to distribute 1 million points per day and, during the first month, a multiplier reserved for the daily Top 100 users. In other words, a limited window that favors high rankings so why not in order to attract whales to your project ?
1️⃣What has changed 🚨 . The Top 100 boost was supposed to end a few days ago. It was ultimately extended by the team, officially until the launch of phase
A decision that accentuates the capture of rewards by a handful of wallets instead of broadening the base. this diluting even more most of the users ⚠
🧮 Details : Thanks to a calculation shared by on-chain researchers notably @Rouplouplou1 : the daily Top 10 averages around 500k points per day with a 2.6 boost.
➡️Without the boost, it would be closer to 211k. Approximately 290k points come solely from the boost. This design mechanically favors those who already dominate the rankings.
Especially since the ratio of 1 million points per day is fixed and the bonus is included in these point !
➡️ So basically, we're moving from a system where users outside the top 10 should share around 800k points to a system where they are still only sharing 500k. 💀😂
2️⃣ This follows a second warning sign.🚩
The second wallet in the top 10 is racking up hundreds of thousands of points with an abnormal pattern. About 4 trades per second. This pace resembles wash trading and is not organic usage.
➡️Definition of wash trading as a reminder: quasi-simultaneous buy-sell transactions that distort real activity.
Here is a link if you want to look at it : debank.com/profile/0xefd3…
3️⃣Transparency is declining 📉. After the community highlighted the suspicious activity, it became more difficult to publicly track points per wallet.
Less traceability, more opacity. This is a bad signal for trust in the project 🚩
What @prjx_hl should do now 👇
• Be more transparent on their methodology for calculating points and anti-manipulation rules, with examples.
• Audit the Top 10 and maybe the Top 100, remove controversial boosts, and exclude any wallet with a suspicious pattern.
• Commit to a clear end date for the Top 100 boost and explain the rationale for any extension.
BOBBY@BOBBYBIGYIELD
We’re extending the top 100 point boost until phase 2 goes live. If you want to catch up on Project X points, this is your chance. Best way to earn points is by LPing.
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