What Is FLIPSIDE?

FLIPSIDE is a community of thousands of blockchain trailblazers who are committed to advancing the data insights available in the blockchain industry.

Their data platform addresses the specific pain points of analysts.
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What Is GodMode?

GodMode is a collection of 1,000 community-generated NFTs rooted in utility. Each GodMode NFT unlocks unlimited claim access to analytical bounties at Flipside Crypto. Additionally, the NFT grants exclusive access to the gated GodMode section of Flipside’s Discord. Once inside, you’ll have access to the most gifted minds in crypto analytics, analytics training sessions for project analytics, early access to Flipside product launches, and much more. The process of minting
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Mint Process

Flipside: "We believe in a fair minting process and will be leveraging Premint.xyz to build our allow list. Once the premint ends a raffle will be conducted to determine who is on the final allowlist."

Prerequisites for Premint

• Having 0.1 ETH in your wallet at the time of registration
• Authentication of Premint account with Twitter and Discord
• Follow Flipside on Twitter

Other Filters

Two groups were eliminated:

• The vast majority of the 5000+ addresses that were eliminated were because they were part of funding clusters: groups of addresses a single entity is using to sign up for multiple spots (in some cases hundreds of them) whether with new or existing discord, twitter, or Ethereum addresses. Flipside uses network analysis, address labeling, and clustering techniques to identify these groups, almost entirely based on on-chain activity of the associated wallet addresses.

• Flipside also eliminated a smaller number of entries that used entirely new sets of credentials (not just one, but all 3 being new -- twitter, discord, and Ethereum address, all with no history prior to the Premint also DQ'd someone) because this behavior is typically indicative of a systematic attempt to win multiple slots.
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Was It Enough?

The short answer is NO, but let's see why.

Mints

According to the announcements, this was the distribution for the Mint:

• 634 for allowlist (raffle winners)
• 70 for flipside employees
• 195 for treasury/marketing/advisors
• 101 for the cantina members
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Analyzing the on-chain data showed that 688 wallets (or contracts) minted NFTs which you can see the distribution in the following graph:

• 683 unique wallets minted 683 NFTs
• 1 wallet minted 2 NFTs
• 2 wallets (Contracts) minted 70 NFTs (each one 35 NFTs)
• 1 wallet minted 100 NFTs
• 1 wallet minted 143 NFTs

Everything Seems Fine, But It Is Not

Even after setting different filters and eliminating more than 5'000 wallets, still some hunters passed the filter, but how?
They created different wallets (+ Twitter and Discord accounts + emails ), sent funds to them separately, and increased their chances to win the raffle.

How I Found Them?

Because of the high activation fees on Opensea, these hunters transfer the NFts from their side wallets to their active (Main) wallets.
By following these transfers, Hunters can be found.

Hunters

The following graph shows the wallets that received more than 1 NFT through normal transfers (Not SALE)

In this way, the first wallet minted 67 NFTs which is mindblowing.

Overall 18 unique wallets minted 269 NFTs - 26.9% of Collection

Their Sales

In the following table and chart, you can see the profit of each wallet from these NFTs

The Wallet with the most number of NFTs sold 54 out of 67 NFTs and gained 16.4 ETH. Next wallet sold 40 out of 54 NFTs and gained 13.3 ETH.

Overall 14 hunters sold 151 NFTs and gained 48.31 ETH in total.

Effects

These users are attacking projects by their behavior. They don't care about projects and only want to gain a little profit. By selling NFTs lower than the Floor Price, they are constantly decreasing the Floor Price (0.8 ETH - yesterday to 0.2 ETH - today).