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The moment has arrived.
@PudgyPenguins #5686 acquired.
Having joined numerous Pudgy events, it’s clear that there’s no community like this one.
Billions will Huddle.
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ry4n
11.2K posts
ry4n
@cryptory4n
degen, founder & trader 𖧹 @AbstractChain Obsidian OG 𖧹 @pudgypenguins
somewhere on the blockchain Katılım Haziran 2024
918 Takip Edilen2.9K Takipçiler
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I want to once again show my support for @0xCygaar
No matter what the team does, they keep getting hit with a wave of criticism
I can’t imagine what it’s like to work in that kind of environment
We’re in a bear market, and that’s clearly part of why reactions are so intense right now
There aren’t many truly exciting things happening on any blockchain at the moment
Even so, the Abstract team keeps building and shipping in these conditions
Appreciate that, and don’t let emotions take over
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Since you guys keep QTing this post, I'll address some points here:
- We made slight adjustments to the XP given to top NFT collections (by onchain activity, volume, market cap). We updated the calculation for many of the longtail collections because we received many reports of people mass holding super cheap NFTs to farm large amounts of XP. NFT projects that are no longer active were diluting the rewards for active NFT builders - this is not the behavior we want.
- We will introduce a more dynamic system for NFT holdings designed to reward the most active collections starting next week. This system will adjust week by week and look at trading volume + onchain activity + overall ecosystem participation (ex. building interesting apps with your IP).
- For memecoin holdings, we were basing the XP given based off of inflated trading volume and price data. A lot of this was done to soften the blow from the steep price decreases seen throughout crypto since October. We have since updated our internal values to be up to date which resulted in a decrease in memecoin XP. Starting next week, we will ramp up the XP given to memecoin teams actively building their IP and growing their holder base.
- As communicated to our app builders previously, there will be an influx of XP given to teams creating onchain usecases, onboarding new users to Abstract, and building innovative mechanics. Several of these teams will be launching new apps and mechanics in the coming weeks.
- We originally didn't want to change the calculation for holdings too much, which is why I tweeted the below tweet 3 weeks ago. However, after doing a deep dive into the XP distributed to inactive projects as well as going through the reports our community had flagged to us about XP abuse, we had to make changes to better reward those that are still active onchain participants in the ecosystem.
cygaar@0xCygaar
Since a couple people have asked - the calculation for holding onchain assets (tokens and NFTs) will not change too much
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I see lots of doom on the timeline
Let’s not forget crypto is the easiest industry to go from 0-hero ever created
Trading is dry but that points to building and creating being your port of call
Anyone can yap, complain and doom
But who can build the next $1bn+ product?
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@cryptory4n @AbstractChain @Abstract_Eco @LucaNetz This is me ry4n >
I'm way, way behind you buddy!
But still happy enough where I am.
My score for this week was pretty low so just posted my Total XP.
The new weekly XP adjustments seem to have spooked a few folk looking at the chat... hmmm
Anyway, onwards and upwards!
😺
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