Accordingly, bidders must cancel their bids before accepting lower bids, which take effect tomorrow, and phase 1 of bid spoofing filters will go online later this week.
We previously tweeted about filtering season 2 bid spoofers. Bid spoofers are usually bots that accept frontrun bids. They do this without taking any risks on farm points.
There are many ways to detect these spoofers, and phase 1 of filtering them will go live this week.
— Blur (@blur_io) May 11, 2023
Bids on the platform are now accepted without regard to the seller’s own bids. This discourages self-trading, but makes it difficult for other traders to determine what the actual highest bid is. Bid acceptance will no longer bypass the seller’s own bids with the latest update. To sell at lower bids, sellers must cancel their bids.
As for the anti-cheater implementation, there are several methods to detect these spoofers, and phase 1 of filtering them will go live this week.
The recent bear market has partially affected the NFT as well as people’s declining interest in NFT related platforms.
While Blur’s trading volumes more than doubled, the number of unique wallets trading NFTs increased by just 24.5% over the same period. There were 13.9 million subscribers in the first quarter of 2023, up from 11.2 million in the fourth quarter of 2022.
Blur has introduced Blend, a peer-to-peer NFT lending platform that allows traders to rent out their NFTs to collectors who want to purchase blue-chip NFTs with a lower initial deposit. Holders looking to earn extra cash can place their NFT, accept loan offers, and then transfer their token to the tenant for a specified amount of time through a smart escrow contract – similar to a digital pawnshop.
Blend’s debut on May 1 helped drive total NFT lending volume to new highs, totaling more than $70 million during the week. Blend loans accounted for 75% of that total, outpacing competitors such as NFTfi, Arcade, X2Y2 and BendDAO.
A Dune dashboard indicates that the platform, which allows users to borrow crypto against digital assets forever, has seen 55,712 ETH in loans since its launch two weeks ago. More than 3,400 individual Blend loans have been issued to date.
DISCLAIMER: The information on this website is intended as general market commentary and does not constitute investment advice. We recommend that you do your research before investing.