Our work “ARTEMIS: Detecting Airdrop Hunters in NFT Markets with a Graph Learning System” is accepted by ACM WWW’24

Airdrops have become a standard tactic in Web3 business operations, with Decentralized Applications (DApps) distributing tokens to encourage user engagement based on smart contract rules. This practice has led to the emergence of “airdrop hunters,” individuals who collect wallet addresses to claim these generous token giveaways by interacting with the contracts. While airdrops are beneficial for attracting early DApp users, the self-trading activities of hunters to appear as active participants threaten the ecosystem’s integrity and challenge the decentralization goals of DApps. DApp teams face the challenge of detecting airdrop hunters without disadvantaging genuine users.

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Our paper “Economic Analysis of Decentralized Exchange Market with Transaction Fee Mining” received the Best Paper Award from ACM BSCI’22!

In this paper, we establish the DEX market with transaction fee mining and formulate our model based on the Hotelling model. Besides, we propose a two-stage game to formulate the interaction between DEXs and users and derive the equilibriums under different conditions of two parameters: the transaction cost difference and users’ stickiness. We show that though the service provider with a lower transaction cost can win the market, users’ stickiness can offset the market advantage. Thus, incentivizing users with transaction fee mining has become a crucial strategy in the duopoly competition.

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