Rudy Kadoch, the CEO and founder of the Mass of the Web3 platform, defended the company’s decision to temporarily block users from five countries, including the Philippines, to complete the verification of knowledge of knowledge (KYC), which is part of its incentive program.
He folded in previous comments that refer to Airdrop exploiters such as “Web3 Vampires”, citing internal data as justification.
Mass CEO provides proof
In an X publication, Kadoch reclaimed That thousands of users of Nigeria, Indonesia, Bangladesh, Pakistan and the Philippines had flooded the mass platform during a two -day window, participating in a search for “free money” that rewarded users with 5 $ mass, the native project of the project, at the end of the end of KYC.
According to the CEO, these users contributed little or no value, instead of addressing the rewards system without committing to the main characteristics of the application.
“It’s time to remove the curtain on web3 and unmask all projects that boast of their ‘hundreds of thousands of users … Last week, we run over a massive wave of’ farmers’ downloading the application mainly from the countries below, and the statistics are terrifying … do we leave the tap that runs for two days, we imagine if we leave it for six?
Rudy Kadoch, Executive Director and Founder, Mass
Then he published data acquisition data of the countries affected during the campaign:
- Nigeria: 1,658 users but only less than $ 1 of total volume
- Indonesia: 6,151 users but only $ 489 total volume
- Bangladesh: 3,831 users but $ 0 volume
- Pakistan: 1,515 users but only $ 10 volume
- Philippines: 1,271 users but only $ 278 volume
Kadoch emphasized that the problem is not nationality but behavior. According to him, users were there to not participate in the services defi, but to cultivate tokens for profit without any intention to participate even more.
“They were not here to use the application, they were just there to extract value … if they are forced to spend, they will continue. I prefer to have 1,000 real users of 100,000 false.”
Rudy Kadoch, Executive Director and Founder, Mass
To immediately stop what he described as financial “bleeding”, Kadoch implemented two main changes:
- GEO-BLOCKED KYC ACCESS: Users of marked countries can no longer complete the identity verification process, which costs the company approximately $ 3 per user.
- Greater participation threshold: The original search that KYC requires was replaced by a new requirement: users must negotiate at least $ 500 in actions to qualify for rewards.
Critic about “false metrics”
Kadoch also criticized the web3 projects that inflate users’ metrics to attract investors and boost short -term statistics. He argued that projects that have “hundreds of thousands” of users often present a distorted reality.
He warned the risk capitalists and the largest cryptographic community to analyze claims for large user bases.
“We make this industry a bad service when we pretend that a false reality is real.”
Rudy Kadoch, Executive Director and Founder, Mass
Kadoch also recalled that the undue use of Airdrops has led to artificial increases in the short term in social metrics, commercial volume and total value blocked, but finally damages real users and offers risk capitalists a deceptive image of project health.
He also said that “there are probably no more than 30,000 real and active merchants in the chain today.”
Although he acknowledged that projects such as OpenSea, Unisswap and Pump may have seen more than 100,000 unique users on their peaks, doubt of the legitimacy of similar users of newly new platforms.
Background on mass and “web vampires”
Mass is a first -lived mobile decentralized finance platform that aims to democratize access to real world financial markets through Blockchain. It is offering tokenized shares operations and other financial tools through a unique and easy to use application.
The platform recently caught the attention when Kadoch temporarily prohibited the users of the Philippines, Nigeria, Indonesia, Pakistan and Bangladesh to complete KYC, citing the generalized Airdrop agriculture and calling them “Web3 Vampires”.
Bitpinas communicated with the CEO and received an answer, explaining the reason for the decision of the project.
Since then, Mass has confirmed that users of affected countries can still access the characteristics that are not KYC, and the company plans to review its systems to reintroduce equitable access without compromising the integrity of the platform.
This article is published in Bitpins: The founder of the project says that most “users” of web3 are here for free coins
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