BLUR - the second season of farming
How big players earn and leave you crumbs
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Introduction
Today I want to tell you something interesting about farming BLUR points.
As many of you know, BLUR gave away a huge amount of money in the first season of airdrop in exchange for the points you received using their site, which led to a huge number of farmers after the announcement of the second season and the upcoming new airdrop.
I know that there was an investigation about how the big players teamed up to farm points for the future airdrop season 2, but that investigation concerned exclusively the farming of points for bids, I'll tell you about the situation with farming for loans, because I recently sent 6 ETH to BLUR to earn some points for the future airdrop 2 by providing loans, and I found out how large wallets kill the competition.
What is farming for loans?
The scheme of points for loans is very simple: you get the ETH on loan in exchange for providing security in the form of an NFT that you own. The list of available NFTs for loans is posted here. For example, milady collection.
On the collection page, you need to select the loans section and configure your offer. Depending on the amount of ETH and APY provided (the closer the number of ETH is to the current floor and the lower the APY, the more points you can get).
It would seem that everything is simple: set values, got points and earned a drop. But only big players can really earn money in this game, and that's why.
Actions of big players
As soon as you put up the optimal offer, which theoretically will give more points, your competitor dumps it.
1) For example, the biggest player with the nickname hanwe.eth definitely has software working.
If he offers loan with 2.2 ETH with APY 120 for 1 milady, as soon as you beat his offer, he will automatically beat yours by 0.1 percent.
It will look like this. My offer, which I just put up with APY 119:
Literally in seconds he offers 0.1 percent less than me:
Thus, he will always get the most BLUR points and there is not much point in fighting with this.
2) But if there are fewer questions about the software (the ability to write software does not make a person a villain), there are players who simply use dirty tricks. This applies to those who own NFT, as collateral for which they also simultaneously offer their ETH.
as soon as you start pushing in the so-called glass of offers, starting to offer more favorable conditions and beating the offers of big players, they start losing points, but operating with millions, they simply accept your offer.
For example, hanwe.eth, if he sees that you are interfering with the work of his software anyway, he accepting your offer for 1-2 hours, after which he returns the ETH (often does it from its main wallet). Thus, he knocks down a competitor, continuing to farm the largest number of points, while paying a small percentage of ETH for a few hours of using yours ETH. And if you can't be near with the PC regularly, or you don't have software, as a usual, you won't be able to put the offer again for some time, even after your ETH returns in your wallet.
So, here he got tired of me beating the offer and he just accepted it, returning the ETH after half an hour, for which he earned a lot of BLUR points. He just borrowed from me an amount of no more than 2.2 ETH with 119 APY, a screen about which I posted a little higher in the article.
The interesting thing is that he just bought the NFT just for this action:
But there are other players who use the same mechanism, but with disguise.
After BLUR started flagging accounts as suspicious, many such players decided to reduce the risks. They transfer NFT, for which they put up offers for a loan, to other wallets. As a rule, there is nothing on these wallets except a small amount of ETH and the NFT itself. As soon as you start interfering with a big player with your offer, he accepts your offer as if from an unrelated wallet, getting the result he needs, continuing to farm as many points as possible with his main wallet, and you are content with crumbs.
And there are a lot of whales who use software and accept your offers to earn points, just try to put an offer like me or open the top and you will see that the largest recipients of points are doing just that.
Conclusion
In my opinion, everything I have described kills the main meaning of the loans tool that BLUR came up with, because people don't need ETH for NFT collateral, they need BLUR points and a future airdrop.
Anyway, this article was not created to complain. In any case, I and many other players are really just trying to earn BLUR points, simultaneously helping BLUR develop NFT market. I was interested to see how the system works, and I decided to share my observations with you, and I wonder if the BLUR team pays attention to this.
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