While the ultimate solution to botters should be on-chain, Strata provides an overview of existing solutions built by protocols on Solana to fight against bots.
Rage Against the Machine
Token builder Strata analyzed why Solana experienced partial outages in the last months and offered possible solutions.
As Web3Wire previously reported, the Mainnet Beta lost consensus on May 1, after many inbound transactions flooded Solana. Later on the same day, Strata Protocol wrote a thread on Twitter explaining how bots have been spamming the network to flip Non-Fungible Tokens (NFTs) in public mints. By submitting millions of transactions, bots improve their minting chances and leave consumers out of the game.
“These mints have a fixed price with a positive EV. The same as concert tickets get sniped and scalped, bots are profiting on Solana,” tweeted the protocol. “As you might imagine, there’s a lot of competition to get these NFTs. How do you win this competition? More transactions.”
Solana developers are working on implementing two changes to the network – QUIC and fee prioritization. The former is a protocol built by Google already live on testnet that limits the bots’ bandwidth. The latter bumps the highest paying transactions in front of the minting queue.
Network changes like these take time and shouldn’t be rushed, but Strata suggests what can be done in the meantime:
Strata’s dynamic pricing: transaction spam raises NFT mint prices, discouraging bots. Check out this article from Web3Wire for more details.
Projects can give out whitelist tokens ahead of the mint, meaning only whitelisted users can participate.
NFT marketplace Solport built an on-chain antibot contract involving layers of obstacles that hinder their ability to participate.
GenesysGo offers a solution that moves NFT mints to isolated sidechains.
While Solana devs work on rolling out QUIC (Solana tweeted on May 6 that it’s coming to Mainnet Beta), launchpads must start adopting these solutions because most mints happen through them.
Check out Solana’s recent blog that dives deeper into QUIC and fee prioritization.
What is Strata Protocol:
Strata Protocol provides an intuitive platform built on Solana to launch social tokens around a person, idea, or collective in minutes. Strata also enables you to bootstrap liquidity by selling tokens with a dynamic price discovery mechanism. This type of sale begins with a high price that gradually decreases and increases with each purchase.
Where to find Strata Protocol:
Source : web3wire.news
