Red Cross reward system

@Lanzer this account was hiding the 100 boats they bought (they had affirmitively hidden the purchase in their OpenSea profile), but just a minute ago they unhid it, probably due to all the chatter: https://opensea.io/0x72Dfe429A75B59105B23a9DB916B259dCDA03F32

Because TSB refuse to acknowledge it, the trust is already gone. In the absence of information, everyone is now assuming it was a rugpull.

I think Iā€™m lost on the particulars. What is the significance of ā€œthemā€ buying 400 of 502 boats? Iā€™m not sure who ā€œthemā€ is

Nobody knows who ā€œtheyā€ is, thatā€™s the million dollar question. There are three options: 1) investor that is bad at math, 2) someone who really wants to give the Red Cross money in an obscure way, 3) TSB rugpulling

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what everyone is asking isā€¦ if itā€™s TSB they should at least come clean and give their reasons

two other optionsā€¦ :stuck_out_tongue: 1) launderingā€¦ i think this would be like one of those mixer things where you put dirty coins in, get clean coins outā€¦ or 2) tax writeoffā€¦ put on your taxes you spent $50K on charity donation, donā€™t declare the coins that come back :slight_smile:

Canā€™t it just be someone who really wants to buy the boats? Why does it have to be illegal or shady for someone to want to buy so many

Sure, but give me a reason someone would want to spend $5000 on 100 boats? Speculate :slight_smile:

There are also a lot of sales of the other nftā€™s in the past few hours or days, I think the sales of the past week are almost 50% of all sales of those nfts

Ooooo. A thought experiment! I love thoseā€¦

  1. The person wanted to register a charitable event and it didnā€™t matter how they did it or who they hurt in the process.
  2. They are very into the Red Cross
  3. They love boats and think thereā€™s some sort resale or they intend to give it away to other people to earn a little bit of payout
  4. They calculated the payout wrong and somehow thought that this was going to earn them money

I can actually kind of understand the last one, the description for payout details for Red Cross were a bit confusing to me

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Iā€™d love to understand whatā€™s going on as well, preferably evidence based and without much speculation.

This concerns the SIP that was passed: https://snapshot.box/#/s:sandboxdao.eth/proposal/0xbbb6a38fd1adf144c383d5af8b1282377bef03cf7da8c183e7c640269e43f91a

So hereā€™s what I understand so far:

  1. The DAO is sponsoring the PRIZE POOL of 200k SAND and not the event itself.
  2. Yobike, the studio thatā€™s organising the event, is going into liquidation.
  3. TSB is supposedly fronting this since its mainly advertised by them.

Soā€¦ is the DAO still giving Yobike the 200k SAND for distribution?
Is there a possibility that it may be seized by the liquidation firm once its transferred?
Does any of these tie in with whats going on with the NFTs? Insider info etc.

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@Lanzer Can you tell me when Is the end of the eventi? When the screenshot Will be taken?
3rd Feb, ok, but what Is the correct time in hh:mm?

The reasons why so many NFTs have been purchased in recent days is quite logical.

Last week NFT sales were around 350 for Quad, Boat and Ambulance. So if someone buys 10 NFT of each and 10 Mug, heā€™ll spend 80 SAND x 10 x 4 or 3,200 SAND and potentially earn this:
Reward QUAD: 10/360 x 40,000 = 1111 SAND
Reward BOAT: 10/360 x 40,000 = 1111 SAND
Reward AMBULANCE: 10/360 x 40,000 = 1111 SAND
Reward Bonus 3NFT : 13/250 (estimated number of triplets) x 40 000 = 2 080 SAND
Reward Bonus 4NFT : 10/150 (estimated number of quadruplets) x 40 000 = 2 667 SAND

Total Reward (estimate) = 8,080 SAND for 3,200 SAND spent (thatā€™s a great deal)

Even today, with all the sales that have been made, it should still be profitable (see estimate calculation below). So I think that those who bought NFTs in the last few days just made calculations and estimated that they werenā€™t going to lose any crypto in any case. In addition, of course, to doing a good thing for the Red Cross.

Reward QUAD: 10/682 x 40,000 = 587 SAND
Reward BOAT: 10/784 x 40,000 = 510 SAND
Reward AMBULANCE : 10/651 x 40 000 = 614 SAND
Reward Bonus 3NFT : 13/500 (estimated number of triplets) x 40 000 = 1 040 SAND
Reward Bonus 4NFT : 10/350 (estimated number of quadruplets) x 40 000 = 1 143 SAND

Total Reward (estimate) = 3,894 SAND for 3,200 SAND spent (still reasonable)

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@Johan That makes sense. 100 boats though = ??? SAND

If that math checks out, it makes sense to me why someone would find it reasonable to spend 3.2K SAND to receive 3.8K SAND in rewards.

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@Lanzer and in fact, they spent somewhere like 100,000 SAND, so their reward will be reasonably significant still if those numbers are correct

Buying only 100 Boats is not interesting if 50% of the Boat NFTs have been bought, but if he has also bought other NFTs (Mug, Quad, Ambulanceā€¦), then it can be a good deal.

The end of the Event will be : 11h59 PM the 3rd Feb (GMT+1)

yeah, they only bought boatsā€¦ so, who knows what that was aboutā€¦ at least, unless they move them to another wallet at the last second :slight_smile:

I would like to give my two cents here,
I do understand all parties; however, this is web3.
The foundational elements of it are decentralization, anonymity, and freedom to do whatever a person wishes.
Whatever logic a person has to spend 5K on an NFT is their own and could be for any reason. Similar to someone spending 120K on a meme coin on Pumpfun that got rugged within 24 hours (I personally saw that); People can do whatever they want.

Now, there is an event and rewards. In my opinion, thereā€™s only one party responsible for its organization. The rest can do whatever they want. As long as the rules to be granted rewards are laid out clearly, then participants can do whatever they want.

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Thanks for the explanation. For me it was not clear that someone can have multiple rewards from triplets/quadruplets.

May I ask when the snapshot of NFTs will be taken? with event end (Feb 3rd 11:59pm GMT+1) or later? Thanks!