Bugfix incoming for DVS delegation payouts
(Edited)
So yesterday was interesting, things got a little crazy and more than the usual amount of DVS was was minted for delegations.... Things were going so nicely too (I think)
So the payout bot is currently paused, and undergoing a little re-write. Shouldn't be overly long. A rolling average would be better.
As for what to do about the rest of it, well not 100% sure tbh. Feel free to lash out, or give advice in the comments below.
EDIT: I"m a few days deep into some covid, and was a little slow on finding out what happened.
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Possible solutions:
Buy up some of the access at this discount and give out to DHEDGE holders or use for payouts before minting new DVS.
Rolling average for mint price.
First of all, probably everyone deserves a clear explanation what just happened. It did NOT just simply get crazy!!! It was made crazy!
By the maddogtime - watchlist account network:
1., He tested couple of days ago the system, based on what the daily airdrops go out after HP delegation.
2., Found out, what was confirmed today, the DVS token drop based on the current min. sell on the market.
3., He delegated HP from his other vote harvester accounts to dhedge
4., He fullfilled all the buys just few minutes before daily airdrop yesterday and put a 0.01 HIVE sell order. so that's why everybody received approx. 110x times more DVS a day before.
5., He started to unload immediately a bunch of those new DVS tokens (what min. doubled the circulated DVS anyway) and unfortunately could sell plenty to people who were unaware, what is going on.
6., He started to stake part of the fresh DVS tokens on his vote harvester accounts, so it will push down the vote % very fast for all the other people (except the few big delegators)
it was all tested, all planned. it's crystal clear...
So the first question. What are you going to do with that? I mean this abusive big HP delegator network?
Do you care only the few big one? or do you care the 100s of smaller other delegators, who are mostly real persons, at least that much?
are you willing to remove this market manipulator, abusive network or not?
everything comes after this decision, and i suppose, everybody deserves a clear answer for that. (they also deserved a clear explanation, what just happened...)
People who don't know, don't understand what just happened buying DVS for 1-1.1 HIVE right atm...
I'll start with a caveat: I did not research whether there is this "watchlist account network". To me this account simply was someone who set up a bot to trade DVS which was quite profitable due to the large spread in the order book. As I pointed out in another post, I think everyone who delegated to dhedge had an incentive to do the things you describe - it doesn't really require a group planning to do this. In fact, I was one of the people who tried to set such a low sell order 2 days ago since it was profitable to do so. To me this is simply market capitalism. However, I also see that these actions based upon a flaw in the code are clearly not in the best interest of the token stability/community. I think a rolling average for the payouts would easily fix this problem.
I think something like this makes sense. Hope you get well soon!
Well, i see you pulled all your sells, and anyway you were not the one who abused the system, manipulated the low volume DVS market since the beginning.
Actually, I think it differently. Far not everyone had incentive to do this. only the top 10-15 delegators. definitely nobody, who bought any DVS. we can't really talk about 'market capitalism' in case of something what has $50-100 daily volume... we can talk about pyramid game, ponzi-scheme, scam. i naively supposed, it's protected by those possible moves. Now i am not sure, not the hole thing built for that purpose... because whoever posted from this dhedge account, just bullshting
this one won't solve anything, exactly the opposite, make it worse. from my point of view, and other similar relatively new users 100%. it will just shut those mouths up who are around longer time. not 100% about that, as i didnt look into dhedge & dvs holders coverage.
anyway, it was still a cheap lesson. learnt to avoid all the scam 2nd layer tokens and probably Hive itself, too. there are dozens of real, 100 times better projects out there. pointless to waste time and money here, where the very few users constantly think on that how they can pull out few more bucks from others' pockets... :) that's the Hive reality!
the greed level here is incredible!
like __ ?
well, obviously i won't write any small one, front of these kind of humanoids. Try to fck people with their $10-50k on Monero or Litecoin. Anyway, there nobody does doggy things like this. All have, not just basic morality, but basic respect towards blockchain, other users, projects.
I knew only 1 similar case there, the guy was forced away pretty fast by all of the others, not like this where people try to set it up as normal, okay, and even throwing sht to me because I told them, how they got robbed... or ask me to explain them on discord (how we had to do the DVS trades in the last 1 month to avoid the watchlist taxman), because they afraid that one of the psycho gets offended... only what i see, not a bit more... that's the Hive 'community'!!! :) :) :)
pokermaria's summary is right in many ways but re 4 he fulfilled all the buys...
that is not what happened. i was buying at the time and the trades in that time period were all in the range of 1.06 to 1.13 but one maliciously timed trade was executed at a price of .01 with watchlist as both buyer and seller, since the volume was low extreme precision in timing was not required. so presumably he placed a buy order first and when the time was right he fulfilled it. in a proper market this would be impossible. the ability to be on both sides of a trade must be stopped.
the 72h rolling average fixes this
the ability to be on both sides of a trade is a flaw that needs to be fixed regardless of this particular abuse. consider the possibility of a bot to make 10000 such trades in a 72 hour period at 0.00001. in a low volume market what is the average??
It checks the market book, not the history, so he can trade a million times to himself it won't matter
ok. i don't know the difference between the market book and the history but that is good news
your summary is right in many ways but re 4 he fulfilled all the buys...
that is not what happened. i was buying at the time and the trades in that time period were all in the range of 1.06 to 1.13 but one maliciously timed trade was executed at a price of .01 with watchlist as both buyer and seller, since the volume was low extreme precision in timing was not required.
i just checked here, 10 min after. it looked like that, it all happened within 5-10 minutes.
https://cfoxon.github.io/?p=market&t=DVS
i won't search it back. i don't care anymore. the enough is enough, basically it was part of the reason why i didn't put more money in dhedge, generally hive. it looks like too 'scammy'. this was the 6th 'project', i got involved. the 3rd what involved some scam, similar doggy business.
and now the dhedge acc. buying it back from him.... Jesus Fucking Christ!!!!!
and doing drops based on average won't solve anything, he will do it with that, too. maybe need 5-10x more money, so not 50-100 bucks, but couple of 100s. anybody could do that. but if this parasite doesnt disturb anybody else... well this place is not for me!!!
FUCK HIVE and dhedge!!!!
i am just waiting to get back delegated HP and unstake, and leave!!!!!!!
@tipu curate
Upvoted 👌 (Mana: 59/69) Liquid rewards.
how is it possible for watchlist to be the buyer and seller of the same trade. this is not how a market should function. i don't have a screenshot of the time of the extreme overpayment event but if I'm not mistaken the fiasco occurred when watchlist sold to himself at a price of .01 hive when all the other trades before and after were priced between 1,06 and 1.13 hive. check the record of trades on hive-engine for the time period. that one 'trade' by watchlist for .01 was perfectly timed to be the price on which the payments were based.
it is not sufficient to merely average out the price over time. this buying and selling to oneself must be stopped, and not just for DVS but all trades on hive-engine.
also there could be a limit to how much, in percentage, any individual can delegate to dhedge. before the introduction of DVS the highest delegation was 8 - 10000. the fourth highest was 1600. now there is one delegation of 155,000 and two over 80,000. this is too much concentration.
and some serious consideration of establishing a blacklist of some sort where those who abuse the system are prohibited from participating. i don't know how that could work but it seems like it is necessary.
@taskmanager
i am making a List of Tip Token, So everyone can check how many Calls can be made with their Holding/Staking.
found only, that i need at least 100 DHEDGE, but saw, that other onse have 3 Calls left, 16 Calls left... So how are the Levels? Or is it 1 Call per 100 DHEDGE?