
xiyu|Apr 21, 2025 02:34
Go through it from beginning to end, what happened to @ MagicEden last week.
One sentence: The team's carefully designed mouse pod airdrop event
Keywords: fuzzy rules, extremely low staking weight, chaotic transaction data
1. Background:@ MagicEden announced the issuance of a staking reward of 10 million tokens for the first quarter to ME stakers in accordance with the original staking rules.
2. Root cause of the problem: The lack of clear airdrop rules by the official has led to vague rules and fostered the motivation for "rat traps" (internal or specific users profiting in advance).
3. Rule design issue: The original airdrop was based on two indicators: staking power and seasonal trading volume, which the CEO and team have repeatedly clarified.
In actual reward distribution, the staking weight has been significantly reduced, with an estimated weight of no more than 10%, while the trading volume weight has been significantly increased. This dilutes the rewards for stakers, with trading volume becoming the main determining factor.
4. Data controversy: The official inclusion of historical transaction data from 2024 (excluding the first quarter data) in the calculation of transaction volume for the first quarter has resulted in new transaction shares being "seized" by old data.
5. Unexpected benefits: Some players, due to their historical transaction data being included, unexpectedly received high rewards (such as hitting the "rat trap") even if they did not complete their season tasks.
6. The pledger is disappointed: the staking reward is virtually non-existent and has actually become "transaction mining", and the pledger's efforts have not received corresponding returns.
7. Unfair transaction mining: Even in transaction mining, the rules are unfair to new traders because old data squeezes out the reward share of new transactions.
8. Community response: The community is generally angry because most users' airdrop rewards are meager and even insufficient to compensate for the asset wear and tear in the first quarter.
9. Official response: The official explanation states that there was a "mistake" in the distribution of rewards, but the community generally does not trust this explanation.
10. Follow up measures: CEO @ 0xLeoIRio promises to introduce compensation measures. However, the airdrop has already been distributed, and additional compensation may lead to further selling pressure, which I personally believe is not an ideal solution.
11. Summary: Due to the lack of transparency in airdrop rules, the dominance of staking rewards by trading volume, and the occupation of new trading shares by historical data@ MagicEden's first quarter reward distribution has sparked community dissatisfaction. Although the official acknowledges the mistake and promises compensation, the crisis of trust and potential pressure issues have prevented the incident from being properly resolved.
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