May 2018 - Ether Shrimp Farm - $Unknown (Global)
"Farm shrimp on the blockchain and sell them for Eth!"
"Claim your free shrimp! To do this, press the “Get Free Shrimp!” button and confirm on Metamask. It’ll only cost you some gas!" "Your shrimp will lay eggs. You can choose to either hatch them, or sell them."
"Hatching your eggs will turn your eggs into more shrimp (1 shrimp per egg). You can also buy eggs using Ethereum by putting in the amount of ETH you want to spend at the bottom of the page and clicking the “Buy” button. This will give a huge boost to how quickly your shrimp farm will grow!"
"Know people who might be interested in this blooming career path? Use your referral link at the bottom of the page to gain an additional 20% of shrimp based on their hatches!"
"Let’s take a look at one of the scams that took place before the De-Fi hype took off. Ether Shrimp Farm was one of the first yield-farming scams that cost many speculators everything that they had invested."
"The users’ objective was to hatch and sell as many shrimp as possible, with the endgame being that they would get to sell those eggs for ETH. In this case, Ether Shrimp Farm’s contract address was displayed on both the Ether Shrimp homepage and DappRadar."
"The fully automated SS Shrimpalicious has found the motherlode. The rarest shrimp imaginable, worth enough to collapse the market entirely (The pot winner gets all Eth in the contract, and the game ends)."
Further Analysis
Ether Shrimp Farm was a popular blockchain game for a brief period in 2018. Users could purchase shrimp eggs, which grew exponentially into more eggs. The problem was that the supply of eggs grew faster than the eggs of later players and interest in purchasing them, causing a sort of hyperinflationary spiral that eventually collapsed the market liquidity entirely.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
EOS Migration Phishing Attacks > > < < Verge Second 51% Attack
Sources/Further Reading
How to Spot & Avoid Uniswap Scams - Swapfolio App (Oct 11)
Ether Shrimp Farm | DappRadar (Oct 13)
Shrimp Farm 2 (Oct 13)
https://medium.com/@AGI_Matthews/ether-shrimp-farm-e9c5a238e738 (Oct 13)
The Unoffical Ether Shrimp Farm Wiki - YouTube (Dec 5)
Shrimp, Frogs, and Drugs Are Clogging the Ethereum Blockchain – Blockchain Bitcoin News (Dec 5)
Ether Shrimp Farm • Coin Clarity (Dec 5)
https://staging-blog.hive.io/ether/@chroniccoin/ether-shrimp-farm-scam (Dec 5)
Ether Shrimp Farm - Scam on Vimeo (Mar 20)
https://steemit.com/ether/@chroniccoin/ether-shrimp-farm-scam (Mar 20)
https://ecency.com/dappradar/@atanas007/ether-shrimp-farm-crypto-idle-game (Mar 20)
https://dapp.review/dapp/Ether-Shrimp-Farm-2 (Mar 20)
https://dapp.review/dapp/Ether-Shrimp-Farm (Mar 20)
New idle game Ether Shrimp Farm just released, farm shrimp for Ethereum! : BlockchainGame (Mar 20)
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