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I want to support this grant!
I would love supporting wallet infrastructure but I don’t see the numbers adding up. Arbitrum support was only launched last month and the request is to get 812,600 ARB to get 3000-15000 users to monitor their wallets… and how will you avoid getting sybil attacked?
It’s too much of a stretch for me sadly… I hope that Round 2 happens and you can ask for less ARB, cause I really do want to support this very very important work.
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We love you too for wanting to support this! We are requesting this because it comes out to about $4/month per user we’re onboarding which is way below our a) cost for supporting them and b) incentivizing them to want to stay safe, which is part of our proposal. We won’t be Sybil attacked as we do require user verification of email and/or phone number to be a part of our program. Hope this helps, and that we can earn your vote. And, most importantly, have you as a user so you can experience the magic of Webacy.
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We appreciate Webacy’s efforts to enhance the security of decentralized finance users by assessing the risk of wallets and sending notifications to users via SMS or email. However, even though the KPIs in your proposal are clear, we believe the suggestion is highly susceptible to a sybil attack regarding the distribution of incentives. We do not think we can approve the proposal in its current state.
appreciate this feedback! We have a strict distribution algorithm and a verification method that defends against sybil attacks – as we mentioned in the grant, we’d provide this algorithm on request (you have not requested to view it). I would also mention that the vast majority of these proposals fall prey to the same type of attack vectors – as one of the only safety/security focused proposals here, it’s imperative to be able to bring these types of services to the Arb network!