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1  Economy / Scam Accusations / Re: Haptic - Plagiarizing Medium Article (essentially their WP)... with slight adjus on: April 08, 2022, 02:53:24 AM
LOL. Elysian Finance is also involved in this shady scheme? Both project had bounties under julerz12 management, and after this topic, they suddenly got some issues with manager. Both projects are caught violating rules. To me this is enough to tag as “better avoid”, if such childish problems already appear on such early stage. Futher it goes, worse it will be.

From what I can gather, julerz12 took a swift and justified decision by withdrawing himself from a project under an active accusation the instance it came to his awareness. On his defense (stated on his bounty group) it's against his policy to works with questionable ethic that's violate forum rules: plagiarism. And I'll have to strongly agree with this decision, it's an even more questionable ethic for a BM if they continue on working with a project that's proven to violate forum rule. Far as I know, julerz12 is more than willing to re-cooperate once the accusation cleared --which, by the way, I think we have to be satisfied with the classic final words of the defeated, "If you want to insist with your narrative, go ahead." because Haptic didn't give their rebuttals even though they're online today, I'll wait for two more days before concluding that they admit the plagiarism and tagging their account.

In retaliation to this, Elysian Finance --the same dev with Haptic-- kicked him out from their contract by reason that julerz12 unilaterally terminate his employment with Haptic. Ironically, they themsleves were unilaterally terminate their contract with the BM. On their defense, they tried to negotiate with julerz12 but couldn't meet at middle point. From julerz12 side, there's not much of a negotiations. I think we can judge which side is true to their words, given one side deleted their statement immediately.

I would love to do a DD on Elysian, but given their published documents are beyond minimal, and their website didn't contain anything that can be researched --which, those characteristics itself speaks volumes of the quality of their project-- there's not much I can do to prove whether the project worth investing or not, although i leaned toward the later.

If you read the Medium article, instead of focusing on automated tool results, you will learn about the original ideas presented with the project. The mechanism is a spin-off of the Synthetix protocol, minus the synthetic assets part. The project earned an official mentorship from industry veterans, after several long sessions of direct talks with the team. We understand your focus on unveiling scams and projects that can be detrimental to the community in general, but Haptic is not one of those. We used a bit of rephrased text from the paper you mentioned, because it is particularly effective in describing the different kinds of AMM and that is not the focus of the document nor the work itself. The team is focused on development, follow our org on Github to keep track of our efforts.

2  Economy / Scam Accusations / Re: Haptic - Plagiarizing Medium Article (essentially their WP)... with slight adjus on: April 01, 2022, 07:01:05 PM
Hello,

We appreciate the investigative work done by the community and we think it's very important to maintain a clean ecosystem. Our Medium launch article is a shortened version of our upcoming whitepaper, which is heavily influenced by the academic literature and references it properly. Some phrasing might be directly inspired by the influential "the Homogenous Properties of Automated Market Makers". Our presence on Telegram,  as we only have an announcement channel.  Our main focus is on Discord.  General lack of information is due to the fact that the project is in its early phase. We are available to clarify any misunderstanding.


At least you admitted and acknowledge that the article is written by yourself and you have ful awareness of the content, it's not the work of a freelancer who copy and paste articles without your knowledge etc. etc.

With that established, that you deliberately copied the content, two things that I think we can all agree. One, it's a --probably written somewhere-- rule that plagiarizing content is heavily frowned upon on this forum. The scam accusation board filled with these cases and most of them didn't ends well as most project who plagiarized contents from others would ends up as scam. It breaks down to the fact that if you really serious wit your project, you'll put efforts on it. Tl;dr: you won't plagiarize.

Two, i think anyone that ever had the privilege to get a higher education would know there is a difference(s) on "heavily influenced" and "intentionally copying". A project that's heavily influenced by older project could have the same theme or same features, but it doesn't mean they'll have the same wording. Your project, however, seemingly to deliberately change wordings, delete and remove a section or two --read: extremely poorly paraphrasing-- to make it rather difficult for plagiarism checker to find the similarities.

As for your claim that your project is in early phase, allow me to bring "exhibit F", a screenshot fromy our twitter page showing your account has been created since almost one year ago and publishes tweets in November. Were you saying that after one year, not only you're failed to make a significant milestone worth announcing and a website with adequate info, you also could only publish a paper which steal, oops... i mean "influenced by" content from a published article without even giving the authors credits? How is this showing credibility?



Like we mentioned, the Medium article is only a surrogate of the original publication, which hasn't been shared publicly yet. We are big fans of the paper mentioned and references will be clear (and due) on the final publication. We never meant to elude plagiarism detectors by employing the writing style you see throughout the Medium article. Again, we acknowledge that some parts are very similar to the document you mention as a reference, the scope of which is to describe the mathematical properties of various existing AMM algorithms. Haptic is about reducing the impact of impermanent loss, and we produced plenty of original content and smart contract code. Our Twitter account exists since a while, but the project was conceived last summer and we started developing it under the #L222 mentorship program,during January 2022.

In addition, here is a report from Grammarly.com:



Anything less than 15% is within perfectly reasonable usage.  If you want to insist with your narrative, go ahead.
3  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][DeFi] Haptic - Increase capital efficiency and reduce impermanent loss on: April 01, 2022, 04:52:05 PM

Hi,

We replied to the misunderstanding on the accusation thread.


Hello,

We appreciate the investigative work done by the community and we think it's very important to maintain a clean ecosystem. Our Medium launch article is a shortened version of our upcoming whitepaper, which is heavily influenced by the academic literature and references it properly. Some phrasing might be directly inspired by the influential "the Homogenous Properties of Automated Market Makers". Our presence on Telegram,  as we only have an announcement channel.  Our main focus is on Discord.  General lack of information is due to the fact that the project is in its early phase. We are available to clarify any misunderstanding.

4  Economy / Scam Accusations / Re: Haptic - Plagiarizing Medium Article (essentially their WP)... with slight adjus on: April 01, 2022, 03:55:35 PM
What happened: Plagiarizing their published Medium article which essentially works as their mini whitepaper

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=3453444
Scammers Website: https://haptic.finance/ | archived
Scammers ANN thread: https://bitcointalk.org/index.php?topic=5390207.0 | archived
Plagiarized Documents: medium page | archived
Original source: "The Homogenous Properties of Automated Market Makers"

Additional notes:

They seems to prefer discord as their means of communication. Being not a discord guy myself, I can't check how's the discussion happened there. Their official telegram is effectively non functional with zero update since the creation date, though. Same fate happened to their website which literally lacking of any useful info. No company profile, no team, just a page listing their social media.


Edit: notifying and inviting dev through their ann thread

Hello,

We appreciate the investigative work done by the community and we think it's very important to maintain a clean ecosystem. Our Medium launch article is a shortened version of our upcoming whitepaper, which is heavily influenced by the academic literature and references it properly. Some phrasing might be directly inspired by the influential "the Homogenous Properties of Automated Market Makers". Our presence on Telegram,  as we only have an announcement channel.  Our main focus is on Discord.  General lack of information is due to the fact that the project is in its early phase. We are available to clarify any misunderstanding.


5  Alternate cryptocurrencies / Bounties (Altcoins) / [ANN][BOUNTY] Haptic -Increase capital efficiency and reduce impermanent loss on: March 18, 2022, 01:21:30 AM
The bounty thread has moved to https://bitcointalk.org/index.php?topic=5391859.


The new bounty program is managed by a respected escrow and member of the community.

Current thread will be locked and moved to archival.

Week #1 report form is on the new thread.

Thanks everyone for participating!
6  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][DeFi] Haptic - Increase capital efficiency and reduce impermanent loss on: March 17, 2022, 08:58:33 PM
Reserved
7  Alternate cryptocurrencies / Tokens (Altcoins) / Re: [ANN][DeFi] Haptic - Increase capital efficiency and reduce impermanent loss on: March 17, 2022, 08:51:06 PM
Reserved
8  Alternate cryptocurrencies / Tokens (Altcoins) / [ANN][DeFi] Haptic - Increase capital efficiency and reduce impermanent loss on: March 17, 2022, 08:49:03 PM


Overview

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The haptic protocol is a system of smart contracts designed to increase capital efficiency and to reduce the impact of impermanent loss. Stakers lock Haptic network token (HAP) as a collateral, enabling the issuance of US dollar denominated debt. This pooled collateral model enables deep liquidity and eliminates the need for counterparts. Borrowers lock ETH collateral to obtain a stablecoin denominated loan from a third party procotol and the funds are used to provide liquidity on a external automated market maker platform. The protocol tracks impermanent loss and provides compensation to honest borrowers along with the majority of token swap fees generated by their liquidity. Stakers are rewarded for their role with staking rewards and a portion of the token swap fees. The system is built around composability principles and leverages existing protocols to achieve its functionality.  





Impermanent loss

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The price of an asset in a automated market maker (AMM) is the product of
the reserves in a trading pair. Arbitrageurs are incentivized to exploit
price differences between AMM and centralized markets by buying and selling
assets from the smart contract, leveling the price and returning the market
to the equilibrium state. Arbitrage can also happen between AMM and decentralized
markets, even across different blockchains. In addition, blockchain extractable
value (BEV) and predatory trades are becoming the norm in the DeFi space and
they are a subject of study on their own. While current models preserve stability
and retain liquidity, the cost of arbitrage equates to impermanent losses for
liquidity providers relative to the true market price used by arbitrageurs.
The losses are impermanent, because they are only realized if the liquidity
provider withdraws liquidity during price volatility and they happen regardless
of price direction. Given enough time, shifts in exchange rates could reverse
the loss, or worsen it. Recently published studies pointed out that half of
Uniswap liquidity providers are losing money due to impermanent loss.


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Haptic network token




The Haptic network token (HAP) provides the collateral for the system and is used to compensate honest players and incentivize them to maintain their positions healthy. HAP grants stakers the ability to issue debt denominated in US dollars, proportional to the value of collateral locked. The protocol will lock and free collateral from the staker balance according to the global debt fluctuation. When a user wishes to release their escrowed HAP tokens, he must first repay any outstanding debt. HAP is inflationary and the monetary policy will run across a five year period, increasing total supply from 100m to 250m, with yearly distribution. Afterwards, the protocol will switch to a flat 2.5% annual issuance rate.







Roadmap


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Q1/Q2 2022 Q3 2022 Q4 2022

Community development
Fundraise
Protocol development
Initial audit


Extended audit
Platform launch
DAO launch
L2 integration (Optimism)


DeFi integrations
Debt based primitives
Multi-chain integration



Contact & Social links


Join our Discord community



https://haptic.finance
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info@haptic.finance




    
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