Over the past few weeks, several community members have raised concerns about bots and multi accounting. A delicate balance is needed to keep the platform free of suspicious or adversarial behavior, while honoring the nature of the platform: open for all to join. In order to get a clearer picture of our current state, we have kicked off a number of work streams around business intelligence, better data warehousing, analytics tools, and bot detection/monitoring. These tools will help us understand the current bot behavior. How widespread is it? What end points/behaviors are getting botted? What are the signatures of the current bots, etc.?
These questions will take some time to understand. Knowing that this issue is of immediate concern to the community, here is what we’re planning to implement to help prevent the problems that have been observed:
- Implement a captcha system that triggers if a high frequency of transactions is detected
- Potentially implement a queued transaction system (each subsequent transaction has to wait until the prior transaction is completed). This would remove any pure “speed” advantage that a bot might have over a human.
- New coin launches: longterm, deploying a Fair Launch system that allows everyone to purchase at the same price for a set amount of time. In the interim, we’ve designed a “pseudo fair launch” system where the creator can designate transaction maximums, a cooldown timer between transactions, and how long these limits are set for.
- To prevent multi-accounting, the goal is to move toward a graduated system where more substantial transactions are limited by KYC, while balancing increased security with the goal of maintaining a smooth transaction experience.
- A graduated system could begin without any KYC for transactions below a certain threshold, with a next step being to require a user to provide a mobile phone number at a certain threshold, and finally requiring KYC for certain transactions, including purchases over a certain amount, converting from Creator Coins to $RLY, or sending Creator Coins to another user.
Thanks to everyone who flagged the concerns and brainstormed possible next steps.
In order to build a platform that’s useful for creators, we always want to think about feedback from the creators themselves, and our community. If you have any ideas or suggestions, please make sure to voice them in here in the Forums. Thank you!