An exploration into all possible attack vectors of the novel AMM with a focus on whale clout.

Now that Behodler is about to launch a new form of perpetual liquidity mining code named Liquid Queue, it may be prudent to explore the nascent AMM for all possible vulnerabilities before large swathes of new holders arrive, eager to claim their rewards, only to find an AMM vulnerable to attack. To set up the exploration, it’s worth explaining the key mechanics under the hood so that our minds can foment criticisms in the form of attack vectors as our collective internal mental models of Behodler take shape.

This article lays groundwork upfront which may come across as unnecessarily verbose…


Lesser known fact: Benjamin Franklin is not smiling in this portrait because he does not approve of having his image associated with fiat currency.

If you hold Scarcity, read this

As per the recent DegenVC announcement, we’re planning to launch Behodler 2 on Friday 19th February. This launch can be considered the equivalent of Behodler coming out of beta: optimized gas consumption, support for exotic token types and flash loans to name a few improvements.

Instead of running Behodler 1 alongside Behodler 2, the choice has been taken to rather migrate all of Behodler 1’s liquidity to Behodler 2. …


Airdrop details at the end

When Behodler.io launched, the next step was to launch a liquidity mining module as a means of bringing in tradeable volumes of new tokens to the ecosystem, starting with DegenVC’s collection. Behodler runs itself without daily intervention but the addition (and possibly removal) of new tokens requires an element of governance. The major trade-off made for a single contract exchange is that it’s more vulnerable to sh*tcoins and rugpulls than Uniswap. Scarcity, as a representation of collective liquidity value also suffers if one of the tokens turns into a dud. Adding a governance layer to add tokens in a fair…


The necessary step before liquidity mining

TL;DR list of features at the end.

Those of you who’ve been following the public roll-out of Behodler closely will know that the November 30th soft deadline for the launch of a new form of Liquidity Mining is fast approaching.

Along the way I’ve had the chance to engage with the community and receive some invaluable feedback. The version of Behodler running on Mainnet is a beta experiment in using linear token bonding curves to create a single-contract automated market maker (AMM). Like the Bronze release of Balancer, Behodler was not primarily intended to be finely tuned or highly optimized…


One contract, many tokens

Behodler is the first of a series of ‘burn’ dapps in the WeiDai ecosystem intended to demonstrate the cryptoeconomic power of burning. Many of the DeFi dapps today are powered by credit markets but WeiDai stands apart among the thriftcoins for having its value driven by economic incentives to burn which increases the redeem rate. While interest rates have a natural upper limit, burning has no effective limiting factor as demonstrated by WeiDai’s redeem rate which has grown 32% since November 2019.

UX improvements

Previously, the only way to get to Behodler was to visit WeiDai dapp, connect your Metamask and click…


If you missed the announcement, head over to WeiDai dapp, connect your Metamask account and select Swap. Here you’ll find the Behodler token swapper.

In this article, we’ll explore the ways you can add liquidity and in the process mint the liquidity token, Scarcity (SCX).

If you’re unfamiliar with what liquidity is or what it means in a DeFi application, see this explanatory article.

The first method is to simply swap any token for Scarcity. On the Swap tab, set your input token to the token you’d like to add liquidity for and the output token to Scarcity.


How to make a DEX using a single contract.

Introduction: the power of bonding

Token bonding curves (TBCs) made their debut in 2018 and immediately began inspiring blockchain developers to move away from creating monolithic smart contracts with multiple external dependencies to building self-contained self-referential building blocks. TBCs are token pricing contracts that don’t rely on external oracles or order books. Instead their pricing is algorithmically controlled. When first introduced, I suspected they’d make a nice alternative to ICOs since they align the incentives of buyer and developer more carefully but since then it became clear that in addition to providing self referential pricing, they provide their own liquidity. And as Uniswap and Kyber…


How to make a DEX using a single contract.

Introduction: the power of bonding

Token bonding curves (TBCs) made their debut in 2018 and immediately began inspiring blockchain developers to move away from creating monolithic smart contracts with multiple external dependencies to building self-contained self-referential building blocks. TBCs are token pricing contracts that don’t rely on external oracles or order books. Instead their pricing is algorithmically controlled. When first introduced, I suspected they’d make a nice alternative to ICOs since they align the incentives of buyer and developer more carefully but since then it became clear that in addition to providing self referential pricing, they provide their own liquidity. And as Uniswap and Kyber…


Dear WeiDai clan,

This past week saw the launch of Behodler token swapper, a key moment in decentralized exchanges as it demonstrates the elegance of using a single omnischedule token bonding curve to generate liquidity. While swapping tokens back and forth gradually increases liquidity, the best way to bootstrap Behodler is to simply purchase Scarcity.

To accelerate this process, an Ethereum game has been launched on Main net, Sisyphus!

Sisyphus is an adaptation of King of Ether where the buyout price declines slowly over time (to mirror the rock rolling back down the hill). To become a Sisyphus, you depose…


TL;DR: go to WeiDai dapp, connect your wallet and click on Swap Tokens. Select the Sisyphus or Faucet tabs.

Token Bonding Curves sometimes require a push

The first section introduces Sisyphus and explains how to earn SCX by either playing or getting it free from the Faucet! SCX can be instantly redeemed for Dai, Eth, Link, PNK, WBTC, BAT, LOOM and MKR — or continue reading for an explanation. The following sections explain why the Sisyphus dapp is necessary.

King of the Hill

In the early days of Ethereum, a game called King of Ether became quite popular. The basic idea was that at any time there’s a reigning monarch who can be deposed with an Ether payment. The buyout payment starts low and with every ‘overthrow’, it doubles. …

Justin Goro

Creator of WeiDai and 92 times emperor of Tsuranuanni

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