No Risk, No Reward: Blur Points System To Be Adjusted
The points system on Blur will be adjusted to reward users who properly take risks, per a tweet from @PacmanBlur.
🔙 Back It Up
Pacman addressed the topic when NFTstatistics.eth brought up that the #3 wallet on the Blur leaderboard hadn't bought an NFT in 6 days but has been able to earn roughly 3,000 bid points, and that the #2 wallet earns 4,200 bid points a day without having bought an NFT in a day.
This doesn't break the current rules, but is against the spirit of rewarding users who take risk. We'll adjust the points system so that users who take risks are properly rewarded (eta next week). https://t.co/zwVUbEVl5g— Pacman | Blur.io (@PacmanBlur) June 2, 2023
❗ Why It Matters
Ever since the $BLUR airdrop back in February, many in the community have been hyper-focused on accruing Blur season rewards, whether through bidding points, lending points, or whatever it takes.
The latest tactic is placing bids below the threshold and using a bot to remove bids once the bidder sees that someone sold. The bid farmer avoids risk by placing large bids that are more than 60 NFTs below the top since sellers can only sell 60 NFTs at once, or 181+ deep since single blocks can only fit 180 sales, per NFTstatistics.eth.
How Blur reworks the point system to counteract this type of bid farming, in which the bidders have no intention of their bids ever being accepted by using bid depth to their advantage, remains to be seen. But the risk of getting "skulled" and losing all Blur points will likely be enough of a deterrent.
🎤 Community Quotes
I don't think this breaks the current rules. or would warrant a skull, as the bidders are just adjusting to actual sales that happen as opposed to front-running w MEV strategies. Given the Blur goal is to reward risk-takers, hopefully the policies get adjusted.NFTstatistics.eth
🔜 What’s Next?
A timeline for the modification to Blur's points system is "eta next week".
Perhaps related, or perhaps on a separate front, Blur teased in a tweet today that "important announcements are coming soon".