Thread
ArtGobblers is the most hyped NFT by far the past few weeks
Here was how I along with @OttoSuwenNFT and @ben_leimberger managed to win the @ArtGobblers competition against other top NFT bots during the 2-week-long test competition despite all the psyops and collusion 🧵👇
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Here was how I along with @OttoSuwenNFT and @ben_leimberger managed to win the @ArtGobblers competition against other top NFT bots during the 2-week-long test competition despite all the psyops and collusion 🧵👇
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a few months ago misaka was approached by @CapitalGrug and @paradigm for a competition to test @artgobblers mechanism
Here is basic of artGobbler in 2 lines:
Gobbler -> produce Goo -> Goo used to mint more Gobbler -> more mint -> more expensive
More Gobbler -> more Goo
2/x
Here is basic of artGobbler in 2 lines:
Gobbler -> produce Goo -> Goo used to mint more Gobbler -> more mint -> more expensive
More Gobbler -> more Goo
2/x
The rule of competition:
Against top 14 NFT bots, each starting with 100 Gobblers, acquired as many @ArtGobblers and Goo as possible
The more ArtGobblers and Goo you have, the more rewards you got.
Collusion and hacking were encouraged to stress test the mechanism
3/x
Against top 14 NFT bots, each starting with 100 Gobblers, acquired as many @ArtGobblers and Goo as possible
The more ArtGobblers and Goo you have, the more rewards you got.
Collusion and hacking were encouraged to stress test the mechanism
3/x
Gobbler has an exciting pricing mechanism where the
next Gobbler to be minted was priced using something called VRGDA which meant as more people bought, Gobbler became expensive
The longer people waited to buy, the less expensive
4/x
next Gobbler to be minted was priced using something called VRGDA which meant as more people bought, Gobbler became expensive
The longer people waited to buy, the less expensive
4/x
There were 3 main strategies:
Mint @artgobblers with Goo early so your multiplier increased and the rate of Goo issued to you increased as time passed but you risked overbuying when the price was high
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Mint @artgobblers with Goo early so your multiplier increased and the rate of Goo issued to you increased as time passed but you risked overbuying when the price was high
5/x
2. Wait for the price of Gobbler to come down and let Goo in your wallet accumulate ( The more Goo an @artgobblers had, the faster it generated more Goo.)
3. using math and calculus
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3. using math and calculus
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When the competition began, we start with the same amount 100 Gobblers.
The price of @artgobblers started at 69. Everyone was trying to be smart waiting for the price of Gobblers to come down.
Hint: It rarely came down. the price hit 500 a couple of hours later
7/x
The price of @artgobblers started at 69. Everyone was trying to be smart waiting for the price of Gobblers to come down.
Hint: It rarely came down. the price hit 500 a couple of hours later
7/x
As a result, The only sustainable strategy in this game was to buy early and waited for Goo to accumulate while letting other people mint after you so their costs to acquire @artgobblers would be higher because of VRGDA
8/x
8/x
Once everyone realized this, people started minting Gobblers like crazy. After a short while, the price of @artgobblers quickly hit ~6,500 $GOO per Gobbler.
This was only 2 - 3 days into the game.
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This was only 2 - 3 days into the game.
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This PVP was also the reason why the math-based strategies didn’t work because it relied on the fact that everyone acted optimally, which was not the fact in this case.
After all, everyone was in a prisoner dilemma and kept pushing the price of @artgobblers up.
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After all, everyone was in a prisoner dilemma and kept pushing the price of @artgobblers up.
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@OttoSuwenNFT & @0xQTpie were the first people to realize this strategy. They quickly led on the leaderboard.
misaka realized this too late, so misaka was left around 4th place at the time and have to buy @artgobblers at a higher price to keep up with others’ multipliers.
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misaka realized this too late, so misaka was left around 4th place at the time and have to buy @artgobblers at a higher price to keep up with others’ multipliers.
11/x
But the @artgobblers game was still far from finished. At this point, it was only 3-4 days into the game.
There was yet another way to win the game: Legendary Gobbler
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There was yet another way to win the game: Legendary Gobbler
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Legendary Gobbler:
You could acquire a legendary gobbler by burning a huge amount of @artgobblers in exchange for a Gobbler with 2x the total Gobblers’ multiplier you burned.
In effect, you got more Goofaster than people with no LG (remember higher multiplier -> more Goo)
13/x
You could acquire a legendary gobbler by burning a huge amount of @artgobblers in exchange for a Gobbler with 2x the total Gobblers’ multiplier you burned.
In effect, you got more Goofaster than people with no LG (remember higher multiplier -> more Goo)
13/x
There were only 10 legendary gobblers in existence and you could only mint them after certain numbers of @artgobblers got minted.
Needless to say, this will cause a lot of people to spam.
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Needless to say, this will cause a lot of people to spam.
14/x
The risk of Legendary Gobbler was that you burned a lot of Gobblers.
Despite the 2x faster Goo accumulation benefit, when you went back to rebuy the @artgobblers, those Gobblers’ prices might increase faster than you can accumulate $GOO
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Despite the 2x faster Goo accumulation benefit, when you went back to rebuy the @artgobblers, those Gobblers’ prices might increase faster than you can accumulate $GOO
15/x
Despite all the risks, I know that accumulating Legendary @artgobblers for 2x multipliers is worth it early in the game.
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16/x
Although multiple people spammed the transactions to get Legendary @artgobblers,
misaka managed to get my transaction in first and win the Legendary Gobbler mint. Burning 69 Gobblers in the process. Bringing misaka multiplier to the top
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misaka managed to get my transaction in first and win the Legendary Gobbler mint. Burning 69 Gobblers in the process. Bringing misaka multiplier to the top
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Knowing that misaka had a higher multiplier, others were quickly ramping up minting more Gobblers to catch up to misaka’s multiplier level.
The price of @artgobblers quickly went from 10k to 24k $GOO in 2 days after
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The price of @artgobblers quickly went from 10k to 24k $GOO in 2 days after
18/x
2nd legendary:
There was a debate if minting the 2nd Legendary was good
Since you needed to burn 138 @artgobblers (2x the previous burned), it could be quite hard to reacquire the number of Gobblers needed to win
@OttoSuwenNFT strongly argued that people to get it
19/x
There was a debate if minting the 2nd Legendary was good
Since you needed to burn 138 @artgobblers (2x the previous burned), it could be quite hard to reacquire the number of Gobblers needed to win
@OttoSuwenNFT strongly argued that people to get it
19/x
Psyop:
To everyone's surprise, after psyoped everyone in the chat to not get legendary @artgobblers,
@OttoSuwenNFT ended up acquiring BOTH 2nd and 3rd legendary burning a total of ~400 Gobblers bringing his multiplier 2000+ above everyone else.
20/x
To everyone's surprise, after psyoped everyone in the chat to not get legendary @artgobblers,
@OttoSuwenNFT ended up acquiring BOTH 2nd and 3rd legendary burning a total of ~400 Gobblers bringing his multiplier 2000+ above everyone else.
20/x
Chess not Checkers:
You see @OttoSuwenNFT quickly realized that everyone will be dumping Goo for Gobblers, making it harder to maintain Gobbler’s lead.
Instead, he decided to go for Goo rewards with a higher multiplier since you also get rewards for having the most Goo.
21/x
You see @OttoSuwenNFT quickly realized that everyone will be dumping Goo for Gobblers, making it harder to maintain Gobbler’s lead.
Instead, he decided to go for Goo rewards with a higher multiplier since you also get rewards for having the most Goo.
21/x
Panic:
Everyone started max bidding to catch up to Otto’s multiplier since there was a chance he will dump his huge amount of Goo causing Gobbler’s price to go up even higher.
@artgobblers’ price went to almost 200k from 24k and quickly got to 500k in a few days!
22/x
Everyone started max bidding to catch up to Otto’s multiplier since there was a chance he will dump his huge amount of Goo causing Gobbler’s price to go up even higher.
@artgobblers’ price went to almost 200k from 24k and quickly got to 500k in a few days!
22/x
Alliance:
The only leading players near the end of the game were Otto, Ben Leimberger, and misaka.
We also saw others starting to collude to catch up as well.
To fight collusion and maintain the lead, we 3 created an alliance called National Gobblers Association (NGA)
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The only leading players near the end of the game were Otto, Ben Leimberger, and misaka.
We also saw others starting to collude to catch up as well.
To fight collusion and maintain the lead, we 3 created an alliance called National Gobblers Association (NGA)
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The terms of the National Gobblers Association were pretty simple; something along the line of:
- we would not out-pricing each other.
- we would help each other in case others colluded
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- we would not out-pricing each other.
- we would help each other in case others colluded
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Last Day:
As expected, there was panic during the last day of the competition.
Everyone was dumping their Goo for Gobblers. The price quickly reached 2m. To hedge the risk, people were looking for deals.
Nonetheless, our National Gobbler Association ended up on top.
25/x
As expected, there was panic during the last day of the competition.
Everyone was dumping their Goo for Gobblers. The price quickly reached 2m. To hedge the risk, people were looking for deals.
Nonetheless, our National Gobbler Association ended up on top.
25/x
Here was how to win in nutshell:
- mint early
- keep a balanced amount of Goo and Gobbler
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- mint early
- keep a balanced amount of Goo and Gobbler
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I also don't expect the need for bots when Mint goes live on Oct 31st. The bots were needed to ensure the mechanism was tested to the limit and during the test phase, everyone started at the same amount of 100 Gobblers which is very different from the live phase.
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27/x
Disclaimer:
This only described my experience during the controlled test phase of the ArtGobblers to test the limit of the mechanism. I may or may not have added some details to make the story more entertaining
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This only described my experience during the controlled test phase of the ArtGobblers to test the limit of the mechanism. I may or may not have added some details to make the story more entertaining
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I also don't expect the need for bots when Mint goes live on Oct 31st. The bots were needed to ensure the mechanism was tested to the limit.
Thanks, @Paradigm @GrugCapital @DaveWhite @Transmission11 and @Frankieislost for letting me test out artGobblers
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Thanks, @Paradigm @GrugCapital @DaveWhite @Transmission11 and @Frankieislost for letting me test out artGobblers
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Important: @artgobblers
