Latest PREMINT Collector Pass News

The web3 allowlist platform PREMINT now supports Polygon, per their tweet today.

What It Means

If you've used the PREMINT platform before, you've likely encountered some of the mechanisms around the entry requirements for signing up for a project's raffle or allowlist. Sometimes it requires you to follow the project's twitter account, or retweet a tweet. 

Other times, it requires you to maintain an ETH balance above a certain amount. For projects building on Polygon, this presumably will allow them to dictate their requirements around Polygon token ownership, rather than Ethereum token ownership. And the 3.5m+ wallets that have already used PREMINT before are instantly compatible.

❗ Why It Matters

Polygon has been gaining steam in the last couple of months. Not only has Polygon partnered with major Web2 brands like Starbucks, Disney, Adidas, and Mastercard, but notable projects like DeGods/y00ts have also made plans to bridge to it.

While it's unclear as of now how exactly PREMINT will integrate Polygon (i.e. will having a certain MATIC balance now satisfy and/or replace ETH balance requirements?), it's clear that PREMINT - and all of web3 for that matter - is taking notice of Polgyon.

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• PREMINT Adds Allowlist Tracker
• To Stop Bots, PREMINT Makes Changes

Brenden Mulligan, the founder of PREMINT, announced that the platform is adding a new feature to the Collector Dashboard that will allow users to track which of their NFTs are eligible for an allowlist opportunity according to a recent tweet.

Not only will the new feature track allowlist opportunities for projects that a user owns, but it will also track presale opportunities for each Discord the user is in.

As seen below, when the feature is out users will see the NFTs in their wallet on the Collector Dashboard and below the NFT collection is a list of allowlist spots the user is eligible for. 

There is currently no date set for the release of the new feature.

PREMINT is making a few changes to its process in order to combat botting issues on its platform, according to a tweet Monday. 

Raffle entries that fall below a pre-set ETH balance and those with re-used PREMINT passes will be "auto-disqualified," the platform tweeted Monday. Projects can now set a required ETH balance by raffle.

"If a raffle requires 1 eth, the bot needs 1 eth + 1,000x gas to enter 1,000 times," PREMINT tweeted.

The other change will discourage bots from transferring PREMINT passes to other wallets and registering multiple times with one pass. As a result, If a person buys a PREMINT NFT and enters the same raffle, then only the registration from the PREMINT holder will be valid, the project said. 

"There's no silver bullet when it comes to de-botting, but we will keep trying to make it harder and harder," PREMINT said.

This is a test trial, and if it goes well, the team will roll out the feature to all projects (optionally at first), according to a tweet from the project's official Twitter page.

"Safety and security in web3 is complicated, and there's no silver bullet," said Brenden Mulligan, the founder of PREMINT. "But we think KYC'ing creators will keep Collector Pass holders a bit safer."

In mid-July, PREMINT suffered a breach that led to more than 300 NFTs being stolen from users wallets. They refunded the victims of the incident, which cost them $482,000, or 310 ETH. The most expensive stolen item was a Bored Ape Yacht Club NFT worth 91 ETH.

"We're continually trying to make improvements that raise the bar on safety," Mulligan continued. "Knowing the whole time that there's a lot more to do."

The PREMINT Collector Pass NFT collection's floor price remains unchanged since the announcement, according to Lucky Trader's Project Rankings.

The snapshot took place at 11:51 a.m. ET on July 25. Holders can sign into the Gallery.so website and share their NFTs in the Gallery social feed. Non-holders can explore the platform including collections such as the Unofficial 3AC Gallery, which features the NFTs allegedly owned by Starry Night Capital, a fund from the now-bankrupt Three Arrows Capital. 

Interested users can purchase Gallery membership cards on the secondary market.

PREMINT has acquired Vulcan Authentication, an application used in discords that helps users prove wallet and NFT ownership, according to a recent tweet.

Vulcan has been used by notable NFT projects such as Moonbirds and RTFKT to help provide extra security to holders.

This acquisition comes just days after the PREMINT website was compromised which resulted in users losing more than $400 thousand worth of assets.

PREMINT has since stated that it will fully reimburse users who had their wallets compromised.

PREMINT announced it will be compensating victims of an incident where users were exposed to a malicious "set approval to all" function when signing a transaction through its site July 17.

The allowlist platform released a spreadsheet containing wallet addresses and a list of 321 NFTs stolen in the attack. PREMINT said it will be transferring ETH equivalent to the floor price of the NFT in the "next 7 days." The platform is planning to refund about 310 ETH or $482,000.

PREMINT released a new feature to eliminate the need for collectors to connect their wallets to its website when they register for giveaways and presales. 

The most expensive NFT stolen in the hack was a Bored Ape Yacht Club, for which the user has already received 91.9191 ETH from PREMINT.

Following yesterday's security breach, PREMINT announced a new feature that will eliminate the need for collectors to connect their wallets to its website every time they register for an allowlist opportunity. 

The announcement shows an image featuring the new flow, which allows a user to link their wallet to a social account. Once the wallet has been linked, the collector can then use social login to enter raffles through PREMINT. Supported options for social login include Twitter and Discord. 

Yesterday morning, PREMINT had suffered an exploit where users were exposed to a malicious "set approval to all" function when signing a transaction through the site. As a result, several members of the PREMINT community had lost NFTs and/or funds in the breach. 

After bottoming out at 0.85 ETH following yesterday's incident, the current floor price of the PREMINT Collector Pass collection sits at 0.92 ETH.

Update: An unknown third party manipulated a file that led to users being presented with a malicious signing prompt according to a PREMINT update at 2:14 p.m. ET on Sunday. Four separate Ethereum addresses were flagged on OpenSea for stealing assets from PREMINT users' wallets. The issue appears to have affected users who connected a wallet via a malicious dialog after midnight PT. 

PREMINT is still working on getting a full list of wallets that were impacted. If you were affected by the hack, please add your wallet details and information to the following Google Form. 

The PREMINT website will stay offline until additional security measures can be put in place.

PREMINT reported it is investigating user reports of a potential compromise of its website.

During the early morning hours of Sunday, users started reporting that when signing transactions to complete project raffles on premint.xyz, they were being asked to sign a potentially malicious "set approval for all" function. 

Twitter user, @SpiritAzuki shared an image documenting the activities. If users sign the "set approval for all" function, it would potentially allow the attacking party to access their funds and NFTs. 

At 4:13 a.m. ET, PREMINT urged users who feel they may have been affected or any users who had signed transactions in the hours leading up to the tweet to revoke permissions or move their NFTs to a new wallet. 

Always exercise caution when signing transactions. For more on ways to stay safe from NFT scams, refer to our guide.