Friday, December 8, 2023

A GitHub repository created by Yearn Finance developer @Bantg apparently listed the crypto wallet addresses connected to users of, a social platform on the Base network that lets holders buy “shares” of the people of any account on X, formerly known as Twitter. The shares grant the holders privileges, such as the ability to send private messages to the sellers.

The list, which is no longer visible, purported to show over 100,000 addresses and their corresponding X accounts. The growth correlates with the huge revenues made by the platform since its Aug. 10 launch, with over $25 million in fees generated, as per DefiLlama.

A Dune Analytics dashboard corroborates the finding, pegging the number of unique users to at least above 80,000, with 15,000 users added since Sunday.

While the GitHub repository itself has created concerns about users viewing blockchain transactions linked to these wallets, some developers suggest that the wallet addresses going public doesn’t matter and isn’t an immediate cause of worry.

“For most tech-savvy users it was obvious that Twitter and deposit addresses can be linked,” said @AlexSmirnov. “I think should have made it more explicit and notified users that their deposit address will become public and will be traced by Twitter profile.”

However @Bantg, the Yearn Finance developer, suggested in a Monday tweet that users had given permission to post on X on their behalf – which could open up a possible attack vector.

Meanwhile, is quickly going viral. The platform has made over $1.04 million in fees, set at 5% of the value of each transaction over the past 24 hours. That’s banked the platform some $709,000 worth of ether in revenue (what the platform takes after paying out gas fees and other costs), data from DefiLlama shows.

A slew of personalities outside of crypto circles on X joined Richard “FaZe Banks” Bengtson II, co-founder of the influential esports community FaZe Clan, joined the platform late Sunday and saw his share prices quickly become among the most expensive. Elsewhere, NBA player Grayson Allen saw shares surge quickly in mere hours after joining.

See also: Is a Friend or Foe? A Dive Into the New Social App Driving Millions in Trading Volume

Edited by Sheldon Reback.

Source #Gains #100K #Users #Quickly #Depths #Bear #Market

Banner Content
Tags: , , , , , , , , , , , , , , , , , , , , , , , , , ,

Related Article


Leave a Reply