ULTI.ORG

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ULTI.ORG

ULTI.ORG

@0xULTI

#PureDeFi: No admin/VC/ICO/founder privileges Scarce, Meritocratic, Longtermist, Everywhere.

Onchain Katılım Şubat 2024
0 Takip Edilen2K Takipçiler
ULTI.ORG
ULTI.ORG@0xULTI·
The UI is fully accessible again we had time to collect a lot of data and assess the risk for users. Beyond the using the UI and to level the playing field, we'll probably build and open source a kit: contract + bot similar to the ones used by top extractors. Stay tuned!
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ULTI.ORG
ULTI.ORG@0xULTI·
🚨 The UI is fully functional for anyone wanting to compete for the 1.9k ETH in the contract. Typical pattern observed by top extractors: 1) sell 2) deposit 3) buy 4) programmatic pump extraction 5) rinse & repeat If you deposit with top players you may extract with them.
ULTI.ORG tweet media
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ULTI.ORG
ULTI.ORG@0xULTI·
For the more technical folks who want to dig deeper, here is an example of sophisticated account that has been performing some of techniques mentioned above by deploying dedicated contracts with targeted block inclusion: etherscan.io/address/0x3437…
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ULTI.ORG
ULTI.ORG@0xULTI·
Different techniques have been observed: A) Sell-the-pump: contract that pumps, sells B) Sell-the-pump sandwitch: MEV over A) C) LP sandwitch: contract that adds LP across a few ticks around the price, pumps, removes LP D) Arbitrages: manual or automated swaps, limit orders or LP plays E) Price/LP spoofing: psychological plays to get others to part ways with their ULTI or ETH. Additional notes: 1) The above techniques all require some ULTI. 2) You never know how well capitalized are other participants. 3) ULTI price is likely to keep falling sharply overtime. 4) Contract-based approaches use MEV-optimization services like Flashbot. In our estimation, this will lead to a race to the bottom where different participants with similar techniques may end up in a gas fee bidding war in order to include their transaction before any competitors. If that were the case, most of the value could end up in Ethereum validators' pockets. 🚨 Reminder: all of these play are non-trivial, risky, adversarial, partially efficient, and slow (years). It's still strongly recommended not to engage with the contract if you have little understanding of what it does. As a matter of fact, there is now a bit more ETH in the contract that back in January.
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ULTI.ORG
ULTI.ORG@0xULTI·
🚨 As outlined in January, the price spiraling down while the ETH deposited slightly increased. ~10 participants/bots are currently trying to farm/arbitrage ULTI. The most sophisticated ones are trying to extract value, explained below. #transparency x.com/0xULTI/status/…
ULTI.ORG@0xULTI

1/9 Unfortunately, ULTI v1 is a failed experiment. The tokenomics are critically flawed, likely causing the price to decline indefinitely. We strongly advise against depositing or buying ULTI any further!

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Martin-Arrey-Eno
Martin-Arrey-Eno@EnoMartinArrey·
@0xULTI That's great news. I hope everything works out. Would you consider running an Ulti v2 test net before launch?
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ULTI.ORG
ULTI.ORG@0xULTI·
ULTI V2 Airdrop: The current plan is to allocate some portion of the v2 supply to v1 early depositors (if they deposited before/around Jan 4 2025, split into 2 time-limited batches: 1): proportional to v1 deposits, no strings attached 2) depending on the participation in early v2 ULTI V1 Recovery In parallel, we're still studying recovery options. There are a few interesting ones on the table. There are all non-trivial, risky, adversarial, partial, and slow. It's preferable to set expectation low. It's important to note that focusing on v2 growth could likely to pay off faster. What about ULTI v1 holders? No specific plan at this stage. It's advised not to speculate either way. 🚨 Reminder, any airdrop information that does not come from this account can be dismissed. Don't trust, verify.
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ULTI.ORG
ULTI.ORG@0xULTI·
@todddacod We'll have to find a fine balance, indeed. The most committed will get the most overtime, that's the philosophy of the protocol: contribution, patience and consistency.
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ULTI.ORG
ULTI.ORG@0xULTI·
@luuk_pls Actually, since we'll have a airdrop that needs to be tested, It would be nice to have early v1 depositor compete relative to their individual starting point and get more of the airdrop accordingly. This makes everything transparent onchain, and directly available at launch.
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ULTI.ORG
ULTI.ORG@0xULTI·
@luuk_pls We'll see if can come up with a similar model we had during the competitive testing phase as long as it's relatively sybil resistant.
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ULTI.ORG
ULTI.ORG@0xULTI·
Even higher standards for V2: - X community page - designed/implemented publicly - latest code public before deployments - 2+ incentivized testing phases on Sepolia tesnet - 2+ independent frontends available before mainnet - 3+ top security audits - 1+ top economic audits
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ULTI.ORG
ULTI.ORG@0xULTI·
@claushein55 Do you have any suggestions beyond this? x.com/0xStef/status/…
Stef@0xStef

@oxedra @Seba369x As I said, there are multiple legs: 1) Recover by incentivizing users help migrate ETH to v2 2) Repair and show good faith with my personal funds 3) Rebuilt by delivering an even better protocol In all fairness, #3 is the minimum requirement but #1 & #2 would be a big boost.

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tiltingupwards
tiltingupwards@thefoxatnight·
@0xULTI why are early depositors getting refunds if they sold on profit , only holders who held before a certain time should be snapshotted and airdropped
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ULTI.ORG
ULTI.ORG@0xULTI·
The current proposal covers that, no? The basic heuristic is the reward 1) those who contributed the most 2) those who continue to contribute. Airdropping the latter group more is indeed better for increasing the success of V2. Guardians will get a fair amount of 1) and assuming they didn't go all in on v1, they can get a fair amount of 2) as well.
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thinking
thinking@ShareTera·
@0xULTI I think active v1 Guardians would be less likely to just dump the airdrop and go away.
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ULTI.ORG
ULTI.ORG@0xULTI·
@NatoCrypto1 @royalflushens We donated most of it, initially. After that, a few users also added ETH walls in LP before low the initial price. We'll also look into that but most of the focus will be on deposits value.
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ULTI.ORG
ULTI.ORG@0xULTI·
2k ETH of value is in the contract. 99.9% of users did not extract any value. The handful of people in profits are a handful of traders made money off the 40X price on day 1. Those would sold ULTI after the announcement and go a bit of ETH back (between 1-5% of their initial investment) got it from the ETH supplied in LP. If you have you evidence of value extraction, please provide on-chain data and we'll look into it.
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Nato Crypto
Nato Crypto@NatoCrypto1·
@0xULTI @royalflushens Does this mean proportional to “all” v1 depositors? If so then why would those who deposited and sold extracting value be treated the same as those who deposited and didn’t sell?
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ULTI.ORG
ULTI.ORG@0xULTI·
@royalflushens The referral part is a very nice idea, we'll definitely consider it. 👍 We're doing our best to bounce back. We also hope that each participant can take accountability for their actions and the risk they have personally chosen to take. Don't trust, verify. Don't go all-in. DCA.
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royalchad.eth
royalchad.eth@royalchad·
@0xULTI Every coin has that disclaimer in the space, The devs is what we trust and put money on. Anyways you should also consider compensating for our referrals relative to their invested amount because it's our reputation we put on stake and it was tarnished.
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ULTI.ORG
ULTI.ORG@0xULTI·
@Daeman38 Feedback noted but no specific plan at this stage. It's advised not to speculate either way.
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ZeroDae
ZeroDae@Daeman38·
@0xULTI A snap shot at the time of your critical flaw post would seem appropriate with wallets holding Ulti receiving v2 airdrop. Should be straight forward.
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