In the same month, SushiSwap, a fork of Uniswap, was launched. SushiSwap conducted a “vampire mining” attack to migrate liquidity away from Uniswap by introducing the SUSHI token to incentivize users. Not to be outdone, Uniswap did a UNI token airdrop in September 2020, resulting in a windfall profit for all users who interacted with the Uniswap pr... See more

In late September, Mirror introduced a separate race for projects that have their own token, and it switched to "quadratic voting," which balances out for whales and attempts to reward regular people who get votes from the broader community. But a new problem emerged: bots were flooding in and influencing the results.

However, a hard fork would run counter to what many in the Bitcoin and Ethereum communities felt was the power of a decentralized ledger. Forcefully removing funds from an account violated the concept of immutability. This was exacerbated by the fact that a centralized set of players was making the decision. Many complained of moral hazard, and tha

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Next, we will strip out inflation, giving us network REV (Real Economic Value):

REV = Network Fees + MEV Tips

REV excludes issuance, as that is not real value generated.