Wednesday, June 19, 2024

Scam Rebuttals

Poly Maximus Announced After Successful Perpetuals Launch

Poly Maximus is a trustless HDRN pool for bidding on HSI Hedron stakes at auction as a team in order to “bid like a whale.”

After the successful launch of the perpetuals (TEAM, BASE, TRIO, LUCKY, and DECI), Dip Catcher is back with a new play on tokenized HEX stakes that will be coming up for auction.

Problem

The smaller 5555 HSIs minted for may end up being worthless due to gas fees. People who joined HEX after 2021 have a 15 year disadvantage in HDRN since they bought at 100-1000x higher hex price and staked at a 2.5x higher T share price than year 1 HEX stakers.

These small HDRN holders who can only afford the small HSIs in auction are at risk of holding the bag on HSIs that have gas costs exceeding a large percent (or all) of the value of the HSI.

Solution

Bid like a whale in HSI auctions by teaming up in a Poly Maximus trustless HSI auction pool. POLY Token is redeemable for the HEX and HDRN from the HSI stakes won by the pool.

In effect, Poly Maximus converts baskets of HSIs into Maximus Stake Pools.

User benefits

  • Gain more T shares per bid by competing for larger stakes
  • 99% gas fee savings on ending stake by spreading end stake gas cost across all Poly holders
  • Cash out whenever – either redeem your unused HDRN or sell your token

How it works

  1. Mint 1 POLY per 1 HDRN pledged to contract
  2. POLYMATHS help identify high value HSIs
  3. An executor is appointed to strategically bid on HSI's, perhaps the executor must put collateral up to insure against poor bidding performance. Executor is not in possession of the HDRN and can only run the bid function, nothing else.
  4. When the HSI is ended, the HEX +HDRN is redeemable by burning POLY tokens, just like MAXI

Risks and remedies

  • Risk: getting outbid on A HSI
    • Remedy: Users simply get their HDRN back.
    • If user was bidding on their own, they also have a chance of losing an auction, so this isnt introducing a new risk
  • Risk: Overpaying for an HSI
    • Remedy: Rules to prevent paying above an existing bid, only allowing high value hsis to be bid on
    • If user was bidding on their own, they also have a chance of overpaying, so this isnt introducing a new risk

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