Spores IDO — Anti Bot Result Summary
Spores’ IDO on Cardstarter that took place on July 27th has been completed without any issues. Once the IDO concluded, $SPO was available to be bought and sold freely on Uniswap, of which we have achieved great success to this day. $SPO is now listed on Coingecko, Coinmarketcap, and more.
Part of what made Spores’ IDO and Uniswap listing so successful was our ability to solve the sniping bot problem that’s been plaguing Uniswap listings for months. To provide a little background, using sniping bots to buy up the tokens of a project as soon as it is listed on Uniswap or any other AMMS is an easy, automatic way to obtain a large number of tokens before the general public ever could. This process in turn will limit the initial liquidity and interfere with the natural price discovery of a token.
We believe that this is unfair to those who don’t possess a bot, so Spores enlisted the help of 111PG with their anti-bot solution to provide anti-sniping bot protection for Spores’ Uniswap listing. Here’s how it worked out so good:
- The sniping bots were prevented to buy $SPO token
- In the case that they were able to snipe some $SPO tokens on Uniswap, they are unable to sell or move them
In evidently, those who leveraged the sniping bots to buy $SPO tokens looking for a quick flip, or otherwise disrupt the natural price discovery process, are stuck.
Here are the 3 sniping wallets that were caught; as you can see, the $SPO tokens are stuck in each of their wallet:
As you go through their transactions, these wallets have been serial offenders, sniping every single Cardstarter IDOs and quickly dumping at the expense of the community that truly believes and supports the projects. In addition, it can be seen quite clearly that two of the addresses were either operated by the same person or by the same bot, given the same gas fees were used to snipe IDOs.
Since we’ve explicitly provided sufficient warning regarding the use of bots in our earlier announcement, it is safe to say that the aforementioned wallets will not be profiting from their ETH spending. While it is perfectly acceptable practice for us to either lock these tokens sniped up by bots indefinitely or simply revoking without any refund, as a gesture of goodwill, we have decided to refund these $SPO purchases at the purchase price, refund the original purchase amount and revoke the purchased $SPOs.
We’re excited to announce that these revoked tokens — totaled 2,379,266.79 will be used to support our community with 50% be added as a staking reward pool over the next 24 months and the other 50% as rewards to our communities and creators through various airdrops and competitions.
Spores Network aims to become the forefront and leading example for fair practices, bringing the best possible experience to our community members and enrich the crypto community as a whole.
Stay tuned for more updates and many exciting events that are coming to Spores Network!
Spores Network founders believe that crypto will lead to decentralization of ownership and frictionless redistribution of capital. Their mission is to create an NFT ecosystem that is creator-centric, community-driven, frictionless, and borderless. To that end, Spores has built a cross-chain DeFi-powered NFT marketplace defining decentralized pop culture, sharing NFT content across gaming, esports, animation/anime, digital fine arts, music, and film/TV. Spores co-founders include Duc Luu (Nasdaq IPOed serial entrepreneur ), Eric Hung Nguyen (former senior investment analyst at a top-10-worldwide hedge fund), and a diverse team of advisors across blockchain and entertainment.
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