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🤖-the-arena 2024-11-01

Summary​

In the chat, Shaw and Ferric | stakeware.xyz engaged in an intense discussion on building trust within their community to combat scammers who exploit pump-and-dump schemes. They agreed that a genuine measure of influence is needed beyond follower counts, suggesting time contributed to the DAO as a potential metric for reputation. Shaw proposed using analytics to identify and discourage market manipulators by tracking their recommendations' impact on people they advise. Ferric | stakeware.xyz highlighted that without real consequences for shilling, even with trust metrics in place, scammers could repeatedly build anonymous reputations and exploit the system. The conversation also touched upon Rick's announcement of a new patchouli knowledge resource related to SOL on pump.fun, indicating an active engagement within their community around blockchain technology advancements.

FAQ​

  • What is the proposed solution to stop scammers from playing pump n dump games in the community?

  • [ferric | stakeware.xyz]: The suggested approach involves implementing a trust metric combined with fostering a strong, genuine community. This would help identify and discourage bad actors by emphasizing long-term contributions to the DAO rather than short-term gains from scamming activities.

  • How can we establish real consequences for shilling and dumping in the marketplace?

    • [ferric | stakeware.xyz]: One idea is to create a system where reputational risk becomes significant, possibly by making anonymity less effective. This could involve developing mechanisms that track and penalize individuals who consistently engage in shilling and dumping practices, even if their wallet addresses are unknown.

  • What metrics can be used to measure genuine influence within the ecosystem?

    • [bAIknoiz06]: The concept is to create an environment where trust and reputation serve as true indicators of influence. This could involve considering factors such as time spent contributing to the DAO, providing value consistently over a period, rather than relying solely on external followers or influencers who may have ulterior motives.

  • How can we differentiate between genuine and scammy accounts in terms of influence?

    • [ferric | stakeware.xyz]: One approach is to focus less on external factors like the number of followers an account has, which could be easily manipulated or bought. Instead, emphasizing internal metrics such as time spent contributing to the DAO and providing value consistently can help identify genuine influencers who are invested in the community's well-being rather than those looking for quick gains through scamming activities.

Who Helped Who​

  • ferric | stakeware.xyz helped shaw with understanding community dynamics by sharing insights on a good person to talk to within their community, which led to a discussion on trust and reputation in marketplaces.

  • Shaw helped the group understand the importance of real trust metrics by proposing an idea where KOL (Key Opinion Leader) shills could be analytically determined based on their market recommendations rather than follower count alone.

Action Items​


## Action Items Summary:

- Technical Tasks
 - Investigate the implementation of a trust metric and long tail community strategy (mentioned by Shaw)
 - Explore ways to apply analytics to identify KOL shills based on market recommendations without wallet address knowledge (suggested by Shaw)
 - Consider time contribution as a measure for DAO member reputation, aiming to reduce scam activities (proposed by Ferric | stakeware.xyz)

- Documentation Needs
 - No specific documentation needs were explicitly requested in the conversation provided.

- Feature Requests
 - Develop and integrate a system that can assess reputational risk for individuals who engage in shilling and dumping (highlighted by Ferric | stakeware.xyz)

- Community Tasks
 - Engage with community members to build genuine trust and reputation measures of influence, potentially through DAO contributions (mentioned by bAIknoiz06)