What Is a VAMPIRE ATTACK? SUSHISWAP Saga Explained
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- Опубликовано: 2 июн 2024
- So what is a vampire attack? And how was SushiSwap able to use a vampire attack to attract over $1B of liquidity in less than a week? You’ll find answers to these questions in this video.
On the 28th of August in the midst of new DeFi projects popping up pretty much every day, a new project called SushiSwap launched. The project quickly gained more and more traction in the DeFi community as it aimed at directly competing with Uniswap by forking the project and siphoning out liquidity with a process later called a vampire attack. The main goal of the project was to create a community-governed automated market maker and fairly distribute its token - SUSHI.
The concept of a vampire attack, although quite simple, is quite ingenious in its nature as it creates very strong incentives for liquidity providers to migrate their liquidity to a new platform. Let’s see what a vampire attack is all about.
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So Binance listed a not audited, not transparent and a shady governance token like that? How much Sushi paid to be listed on Binance?
This is way better than netflix. Thanks for creating this!
Hah thanks! You're welcome
"it's just a prank, bro"
Great explanation. New defi coins are full of unexpected events because they're incomplete projects that offer promises for your money. If it's new and not audited, you better research the hell out of it before investing.
But I like living on the edge and YOLO is always the best strategy 🥲
@@jonathanmarvens you meant gambling...
Thank you so much for making such a complex concept into simple and plain english♥️Can you please also make a video on Harvest finance?
Btw when you said "11th of August" I think you meant "11th of September". 9:03
Yes, thanks! I added a correction in subtitles
Thanks for your time and effort!
i m yield farming in the lend-eth and sushi-eth pools and also bought a bag of sushi. love the drama, love the community to back the project, now we have a team of devs dedicated to sushiswap. this will be a winner. my opinion only.
I’m digging sushiswap
yeah i m balls deep into sushi
I waited so long for this video 😁 Thanks
You’re welcome!
Thanks for covering the Sushiswap drama and simplifying it.
You're welcome! It was a tricky one to make as the situation keeps changing
This is one of the most fascinating stories in crypto and you did it justice. Thank you sir!
Wow great video, from one who has staked from the beginning and enjoying watching this whole sage play out on Discord (and my Metamask wallet!!)
Thanks Daniel! Yeah, the whole saga is better than Netflix ;)
I love your channel. Thank you.
Thank you for the educative video…
great channel, well explained! sub
thanks! welcome aboard :)
amazing story great insight!
Fantastic explanation with lots of twists and turns.
Thanks!!
Great video. A little correction, ‘In the beginning of *September’ min 9:10. Thanks for your videos!
Thanks! Nice catch. Will try to add a text correction
Love your video mate!
Thanks!!
I ve watched all these videos about LP and I am still a bit confused. What kind of information an LP token holds that I can move it from one pool to the other?
Excellent series and well explained videos:) will this channel explain NFT?
Thanks! I will explain NFT at some point for sure, this will be probably in the DeFi context
uniswap should get a coin...... problem solved!
looks like this is coming soon! :)
They got one! UNi
lmao
When does the additional incentive fall off? Should be interesting to see if the project says around.
In less than 2 hours! :)
DeFi is crazy space and this sort of thing brings more innovation and progresss
Never a dull day in DeFi :)
Seems like Sushi will survive if the funds returned by Nomi are distributed to the token holders.
Awesome informational video! Thanks for keeping the community in the light.
sideBETonME
Cute video and voice 😊
can you make a video on how to earn tokens as a beginner?
Sushi wasn't an experiment although we have learned from it. It was a scam by chef nomi to get rich. He was a vampire of the entire ecosystem he built. Anyone that thinks he was actually sorry for dumping on his entire user based is naive. He's a scammer pure and simple. That said, we've got 15-20 new swap DEX about to launch, and 80% of them are better than sushi and uni. So no, no one will stay with sushi. There's no reason to do so.
Sushi is worth $8 now. I guess it became legit.
@@Psylent 14 now :) And working as intended
Why did Chef Nomi refund the Dev fund? Would he have been prosecuted otherwise?
How’d that go for ya?
your comment did not age well.
Check Sashimi now going up
good
I’d love to see your thoughts about Thorchain. They seem to be the best AMM in my opinion out there due to how long they’ve been around and their highly communicative team.
What software to make videos like this .. I want to make video like this in my language to make it understable for my people
There's lots to choose from, just google whiteboard animation. He's most likely using VideoScribe www.videoscribe.co/en/sign-up
Sushiswap is now a legit decentralized exchange. Nomi the founder returned the coins to the community. And they airdropped to LP providers. It’s been crazy. Now it’s got more credibility
If this guy returned 14M dollars, he has big balls. LOL
Money Rulus hes probably a whale already
Is sushi still sustainable and viable now that this is all over?
How Sushiswap token price determined?
In general it's just supply and demand. The rate of printing new SUSHI tokens changes today, so let's see how it will impact the price.
So Binance listed a not audited, not transparent and a shady governance token like that? How much Sushi paid to be listed on Binance?
You speak as if that's the first time binance has ever listed a dodgy asset
@@JordyValentine It was a question. I don't know actually.
i like to imagine sushiswap is binance. When in a war, fund both sides.
Please make a video on Chainlink.
Yeahh please do!
I think most of these new platforms have become much too convoluted for adoption beyond their current niche
Smells fishy to me! SUSHI 🍣
LiquidDeDe 🥴
Got 14M from dev fund, returned 40M. Good one, though.. :D
So why did he take the 14 million out of the dev fund?
Hmm...in a regulated environment would he not be in jail?
Your accent is perfect for talking about vampires lmfao.
I'm trying to work out your accent. I pick up French, Irish.
Cream finance explained:
ruclips.net/video/40CP7iBG7KQ/видео.html
I think this should be made illegal (Vampire Attacks). these protocols are open sourced for building trust, not so you can fork one and siphon money into your project. It makes rug-pull scams so much easier to pull-off.
I don't understand very well the concept of the vampire attack, basically the copied the whole code and incentivized everyone to switch to uni, but did they use any sophisticated code to start buying tokens from uniswap?? seems like just a copy paste and trying to lure people into their product.
Easy, cheap and fast trading with JulSwap to the moon sushiswap killer
Was this not a sophisticated pump n dump?
More sophisticated than that. It was an attack of Ethereum. Watch ruclips.net/video/MO_Kcw2KVfg/видео.html
Master exit scam chef
Alternative Ponzi scheme.
The whole Economy is just a ponzi itself, where the ponzi is in the money value.
vampire attack is very unethical in my opinion
I keep getting rich from dumb noob speculators