BlocksInform
The grifter season is here: scams and opportunists are running amok, and it is harder than ever to find out who to trust.
Crypto Spider, an influencer of the pseudonym “Crypto Spider,” was found to have pumped-and-dumped a meme coin, $SELON – while claiming that he had taken a loss.
step 1: @linkpadvc make a Doge fork called Shibe-Elon
step 2: give themselves a ton of it
step 3: burn 1 of their top address to induce FOMO
step 4: rug
I knew it from instinct, but thanks for @mathieu_ouioui for verifying this onchain. pic.twitter.com/wVOHVHMpb8
— CL (@CL207) May 2, 2021
Were I unwittingly helping a scammer? I'd been given his name by a trusted colleague. The reason being is that I quoted Crypto Spider in a piece from January. We spoke about an algo stablecoin project, which now seems to be a ploy to hack the Cointelegraph platform.
The project's developers seem smart and intrepid, but they are working in a potentially doomed vertical (although FEI and OHM may still try it), as I outlined in my profile. While my report was unlikely to lead someone astray, seeing Spider exposed as a fraud was still jarring.
Spider himself made the point that it's harder to know who to trust out there. He emailed me at the weekend to share a Tweet thread from his alleged co-conspirator, saying that he promoted the project and then sold.
It also struck him that he was quickly becoming “the target of anyone who shilled or made meme coins.” A liars and institutions are deceitful, and greed remains regardless of how much money flows into the sky.
No rewrites were found Would you mind clearing up some misinformation about SELON and CryptoSpider1's involvement?
1. Wanted to clear up some misinformation surrounding SELON and @CryptoSpider1 's involvement. This token was meant to start out as a joke with a friend on twitter who approached me. I was asked to make the website for my friend and he deployed the token.
— Sheel Patel (@iamSheelPatel) May 2, 2021
A later Alameda comment said the new stock was just an overthe-counter purchase, rather than a longer-term "strategic investment."
Not even institutions are exempt: Alameda Research invested $20 million in Reef, part of what would have been a larger $80 million deal — but the two companies cut ties over a disagreement regarding Alameda transferring the tokens they purchased to Binance, presumably to sell. Watch who you listen to and what you invest in — I know I’ll be even more careful as time goes by.
Nevertheless, here's one principle that hasn't led me wrong: anonymity by nature fosters both the best and the worst in crypto. An anon with integrity can be a guiding light through these uncertain waters.
While Uniswap's blog asserts that their site has migrated to displaying v3 statistics, their top pools are still for Uniswap v2. However, it may take a while before it gets its sea legs.
We are thrilled to announce that Uniswap v3 is now open-sourced on Ethereum mainnet and that the unified protocol has been upgraded to support v3. https://t.co/liqYXtQoM2 recently updated to support version 3.
While Uniswap's blog asserts that their site has migrated to displaying v3 statistics, their top pools are still for Uniswap v2. Aside from the interface slip, there is presently insufficient liquidity to handle any significant swap.
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We are thrilled to announce that Uniswap v3 is now live on Ethereum mainnet!https://t.co/liqYXtQoM2 has been updated to support v3.https://t.co/VeR2ueZfEk
— Uniswap Labs (@Uniswap) May 5, 2021
Yet the lingering liquidity issues may soon be resolved. The majority of liquidity is in bread-and-butter trading pairs such as ETH/stable pairs, but specifics are hard to come by; while a blog post from Uniswap says that their info site has migrated to displaying v3 statistics, their top pools are still for Uniswap v2.
A long list of Uniswap v3 pool positions, which are represented as NFTs, are now available on Opensea. Hayden Adams boasted about the, the first-ever v3 position held at Uniswap. There should be an interesting market for early pool positions over the coming days, and the first positions in culturally significant pools may eventually have significant value.
What is the current value of NFT, the first EMN-DAI position? As multiple Twitter observers pointed out, Uniswap is making it simple to migrate liquidity pools to v3 — including Sushiswap LP positions in what some have dubbed a “reverse vampire attack.”
Perhaps coolest of all however is that a long list of Uniswap v3 pool positions, which are represented as NFTs, are now on sale on Opensea. Uniswap founder Hayden Adams bragged about his, the first-ever v3 position. The grifter season is here: scams and opportunists are running amok, and it is harder than ever to find out who to trust. For example, an influencer by the pseudonym “Crypto Spider” was found to have traded the meme coin, $SELON, going down — but publicly claiming that he had pulled the same against his followers.
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Proud owner of @Uniswap v3 NFT #1
Mini thread on v3 NFT positions which are SVGs generated entirely on-chain and derived from the properties of the underlying position https://t.co/PLrrlUNHyd pic.twitter.com/JBD9rlxxZn
— Hayden Adams (@haydenzadams) May 5, 2021
In all, a mixed-review launch. Since I cited Crypto Spider in a piece from January, I am using that reference.
The paleozoic era of DeFi capital efficiency begins today with the launch of v3
Once we get to cross-margined derivatives via @futureswapx / @synthetix_io and undercollateralized loans via @useteller this year, DeFi's capital efficiency will be as good/better than CeFi https://t.co/1opmve5szf
— Vance Spencer (@pythianism) May 5, 2021
Major stories this week
Balancer and Gnosis team up for Uniswap v3 rival Cowswap
Inverse Finance acquires Tonic in possible first-ever protocol merger
