Gmonad, recently I observed an interesting phenomenon: on the @monad_xyz test network, many people reported that the test tokens were not enough. I couldn't help but wonder what transactions require so many test tokens? So I researched a few people's addresses and found that a complete $MON circular system has already formed.

Description of the phenomenon:

1. Users receive test tokens

Users painstakingly receive a small amount of test tokens from the faucet.

2. Minting strange NFTs

Then, for some unknown reason, they go on to mint some bizarre NFTs, some of which I've never heard of, and the prices are not low, ranging from 1 to 10 $MON.

3. Token flow and redistribution

The tokens collected from minting these NFTs are distributed to some specific addresses. After receiving the tokens, these addresses will continue to mint new NFTs.

My guess and analysis:

I thought about it and roughly understood the “routine” behind this, which may be a cycle like this:

1. User initiation

Users receive test tokens from the faucet, but the amount is limited. Then, for some unknown reason, they go mint NFTs released by other users, which are not cheap (1 to 10 $MON).

2. Actions of NFT publishers

The publishers who receive the minting fees are likely to sell the tokens to other users or continue to release new NFTs, while raising the minting prices.

3. User actions again

Users find that the tokens are not enough and have to go claim more, but the faucet often does not provide enough. Thus, some people start to buy $MON directly.

4. Price increase and vicious cycle

The purchase volume is limited, and the NFT publishers take the opportunity to raise the minting prices again. Users see the price has increased, complain about the faucet lacking tokens, while buying more tokens and continuing to mint.

5. Birth of a perpetual motion machine

Thus:

Users: while claiming tokens, they also send them out (mint NFTs), buy tokens, and complain about not being able to claim enough.

NFT publishers: while releasing new NFTs, they sell tokens, and raise minting fees.

Monad officials: while fixing the faucet, they are scolded for having “no water,” and are suspected of secretly selling test tokens.

Summary:

Everyone is very busy, but it seems they don't know what they are busy with. 100 $MON can indeed generate a “GDP” of 10,000, making it a veritable perpetual motion machine for the test network. #monad