How We Could’ve avoided The Bored Ape Apocalypse

Bored Ape Apocalypse pic of ape #6068
Bored Ape Apocalypse pic of ape #6068
Royalty free usage of bored ape 6068

If you are interested in colossal tech debuts and those who have epic failures, Yuga labs is easily on the top ten list after the bored ape apocalypse they created with the debut of otherside, on April 30th, 2022.

What is Yuga labs, how are bored apes involved?

If you aren’t in the NFT scene, Yuga labs the owners of Bored Ape Yacht club had a new mint for what they call the otherside, which included land for those who aren’t bored apes, allowing more people into their profitable eco-system.

How did things go wrong with The Otherside mint?

Like any gigantic project bringing tons of people in, you need to plan how to do this without driving up the fee for transactions on the ethereum network drastically and how to ensure you don’t crash the network.

Gas hit an all time high of 6000 gwei, if you don’t know what that means it was over 45 thousand dollars for some people to just pay the fee to have the privilege to pay more money to mint. This is basically a tax of using the ethereum network, or at least it is the easiest way to explain it, as our articles are aimed for everyone.

Why did it cost so much Ethereum?

The code for people to buy land was poorly written for lowering cost, this code is commonly known as a smart contract. 3 or 4 tweaks plus using a raffle or wave system to create rounds of people to mint, to avoid spiking the price of gas could’ve saved over 80 million dollars in fees to all the end users, which at the time this tweet thread was written would’ve cut the costs of minting down to 20 million from the then current amount of 100 million. In this scenario safemint wasn’t needed, and erc721enumerable, which is used to track ownership of nfts on chain, wasn’t needed. We never use erc721enumerable, ever.

There are many efficient ways without using the commands above to make a mint safe, and how to track ownership, yet yuga labs instead burned at the point in time when this was written 80 million dollars. Some estimates say by the end of the mint it was 160 million dollars, which could’ve been cut down to only 40 million dollars lost, but if the wave system had been introduced, I hazardly guess 10 million or less would’ve been lost. Of course, if they had also used 721a, far less money would’ve been lost as well despite it being somewhat bloated, it is the best free contract out there.

Why didn’t Yuga labs fix this? They have tons of employees, how could they lack the skills?

That is where things start to get worrisome from a legal standpoint, Yuga labs made an announcement, that basically can be boiled down to “we broke ethereum, we need to create a competitor” when literally less than 2 dozen characters changed would’ve saved up to 140 million dollars. It wasn’t a fault with the network, it was a fault with their code, which created a lot of people asking if this was intentional, did they plan this as a promotion for their own network? If so, this could potentially fall under the UK and US laws against abusing systems, which has jail time and fines.

We don’t write these words lightly, in fact, we wish it wasn’t necessary but after the display and their statement on what happened, it looked like they intentionally destroyed up to 160 million dollars while crashing the Ethereum network, which could lead to legal action if anyone involved decides to take it.

What is happening now?

The rich and careless with their money are blaming others for complaining about the insane mint price, since the land is now worth more than what they minted at. These people don’t even mention that it cut out the people who didn’t have the money for mint, and refuse to keep yuga labs accountable for the loss of their money that wasn’t needed for what occurred to happen.

What are influential people saying about the bored ape metaverse land mint?

Gary Vee is praising them for innovation without directly mentioning them, yet he knows that gas optimization isn’t hard or innovative, it is the rich and careless with their money glossing over the fact that a ton of money was destroyed.

While Gary Vee is on point with much of his commentary, he completely missed the point here.

This will be updated if need-be, but we believe this sums up the chaos of the bored ape mint and the money lost that shouldn’t have been.

Update: Forgot to mention some of the tweaks were raffles and waves

15 thoughts on “How We Could’ve avoided The Bored Ape Apocalypse”

  1. OlpseD says:

    Want to make the most of your money? Look no further than binary options trading. Our platform offers access to a wide range of assets, and our tools will help you make informed predictions. Invest with confidence, and start earning returns of up to 85% in just minutes.

    WARNING! If you are trying to access the site from the following countries, you need to enable VPN which does not apply to the following countries!
    Australia, Canada, USA, Japan, UK, EU (all countries), Israel, Russia, Iran, Iraq, Korea, Central African Republic, Congo, Cote d’Ivoire, Eritrea, Ethiopia, Lebanon, Liberia, Libya, Mali, Mauritius, Myanmar, New Zealand, Saint Vincent and the Grenadines, Somalia, Sudan, Syria, Vanuatu, Yemen, Zimbabwe.
    Sign up and start earning from the first minute!

  2. PhillipKeype says:

    Howdy! [url=]best ed pills non prescription[/url] excellent internet site

  3. PhillipKeype says:

    Hello there! [url=]online ed pills[/url] excellent internet site

  4. PhillipKeype says:

    Hello there! [url=]otclevitra[/url] excellent web page

  5. ThomasdiC says:

    [b]Big update of secure browser with antidetect methods[/b]

    [url=] Download antidetect browser discount now [/url]

    [i]Ximera’s work is based on the principles of cryptography, which make it possible to confuse digital fingerprints and prevent
    sites from collecting and compiling information about the activity of their visitors[/i]

    Our advantages!
    – Profile data can be stored in a convenient way for you. The choice is a database or your own device.
    – Data on different devices are synchronized with each other.
    – The possibility of fairly accurate manual settings – you can change proxy settings, time zone, browser identification strings and much more.
    – Access to create multiple work environments.
    – Protection of the system from hacking and leakage in case of incorrect password entry.
    – Cloud storage of encrypted profiles
    – Multiplatform versions of Windows or Linux browser
    – Automatic fingerprint generation of the digital fingerprint of the device and much more

    When contacting support only until the end of this month, a 50% discount is provided for new users

    And there is also an affiliate program for all users with a payment of up to 40% of each payment of a new user!
    Join our friendly community, feel safe with the Ximera browser
    Your promo code for registration is 394379

  6. PhillipKeype says:

    Hi! [url=]cheapest ed pills online[/url] very good website

  7. PhillipKeype says:

    Howdy! [url=]over the counter erectile dysfunction pills[/url] great web site

  8. Холодная погода наступает, а значит пришло время задуматься о том, как обеспечить теплом свой дом. Как знать, может быть у вас уже есть система отопления, но она старая и неэффективная, либо вы еще не сделали выбор в пользу определенного типа обогрева. В любом случае, компания “Теххолод” предлагает вам решение проблемы – газовые напольные котлы для домашнего отопления.
    Почему мы рекомендуем газовые котлы? Во-первых, это самый эффективный способ отопления. Газовые котлы имеют высокую степень эффективности, что значит, что большая часть газа, который вы используете, будет превращаться в тепло, а не уходить в атмосферу. Это означает, что вы экономите деньги на счетах за газ и одновременно получаете более комфортную температуру в доме.
    Во-вторых, газовые котлы очень удобны в использовании. Они требуют минимального ухода и обслуживания, что значительно экономит ваше время и силы. Кроме того, у газовых котлов низкий уровень шума и они не выделяют запаха.
    Ну а почему именно напольные котлы? Существует несколько причин. Во-первых, они лучше распределяют тепло по всему дому, так как находятся вблизи распределительной системы отопления. Во-вторых, такие котлы не занимают много места, что очень важно для небольших помещений.
    газовые котлы отопления напольные цены в ростове на дону. Компания “Теххолод” предлагает широкий выбор газовых напольных котлов различных производителей и мощностей. Мы гарантируем вам качественный продукт и наша команда опытных специалистов проведет инсталляцию быстро и качественно.
    Заключение – если вы ищете надежную, эффективную и удобную систему отопления, то газовые напольные котлы от компании “Теххолод” являются отличным решением. Не откладывайте покупку на потом, забронируйте свой заказ уже сегодня и наслаждайтесь комфортной температурой в своем доме в любое время года!

  9. JordanApone says:

    [url=]crypto exchange rates[/url] – crypto currency converter, crypto trading

  10. PhillipKeype says:

    Hi there! [url=]top rated ed pills[/url] great internet site

  11. Валерий says:

    Самый лучший сайт который я встречала xn--62-mlcmn2b1b3b.xn--p1ai

  12. Im very pleased to discover this great site. I want to to thank you for your time for this particularly wonderful read!! I definitely loved every bit of it and i also have you bookmarked to look at new stuff on your blog.

  13. gate io says:

    I may need your help. I tried many ways but couldn’t solve it, but after reading your article, I think you have a way to help me. I’m looking forward for your reply. Thanks.

Leave a Reply

Your email address will not be published. Required fields are marked *