In conflict with Uniswap, developer creates $ 11 billion in fake volume
To understand what happened, you have to go back a bit. The Delta Financial protocol makes it possible to adjust volatility during options trading, by stabilizing liquidity (rebase). But when Delta interacts with Uniswap’s liquidity pool, its protocol gets more and more expensive, making it seem like many exchanges are taking place, hence a high volume.
This had been a problem two days ago: Delta had officially launched its DELTA token, which had increased Uniswap’s trading volume up to $ 7 billion — a record. For comparison, the previous record reached $ 2 billion. Uniswap therefore decided not to count the volume of DELTA. And this is what aroused the dissatisfaction of the Delta Financial teams.
A token whose volume is skyrocketing on Uniswap
Uniswap creator Hayden Adams has confirmed that the DELTA volume will go under the “untracked” category:
Not wash trading but not “real” volume either.
Soon will be considered untracked volume on
“ It’s not wash trading, but it is not “real” volume either.. It will soon be considered untracked on http://uniswap.info. “
The story could have ended there, but an anonymous developer, who is part of the Delta Financial team, came to put his grain of sand. He created a way to show fake volume on Uniswap, with a token that displayed $ 11.7 billion in dummy volume yesterday:
Everyone can now create $ 20b volume on a custom token! Attack will continue until DELTA trading history is reinstated, and we get a apology from uniswap for abusing centralized power. 0xRevert on Twitter
“ Anyone can now create $ 20 billion in volume with a token! This attack will continue until the DELTA trading history is reinstated, and we receive an apology from Uniswap for abusing their centralized power. “
Threats and reactions
The developer threatens to publish the smart contract today, in order to question the integrity of the published data. He wishes “ create billions of dollars in liquidity on statistics aggregators “.
For his part, Hayden Adams considers that it is not a problem of centralization, explaining:
“ http://Uniswap.info has always filtered out the fake volume of transactions, it’s an analytical interface, not a decentralized protocol. “
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