Are there any protections against users creating multiple wallets and sending transactions back and forth between them in order to earn interest?
There are a few measures to protect against this scenario.
I appreciate the response.
The more transactions you make, in a real-world scenario the better the system is to recognize a legitimate transaction and award a higher %. There will be a Tier system, in which your account will be scored on. I believe the tiers go all the way up to 5.
Let's say, you and a friend want to make several transactions and collect interest for each other. So you send schoolteacher's balance back and forth to try to generate. Well, you will only collect interest on 1 transaction in a 72 hour period to X account.
In general:
You will not be able to collect interest on more than 3 transactions, totaling 10,000 Aero in a 24 hour period. You can make 1 transaction for 30,000 aero and collect a larger percent interest or several small transactions. None the less, the interest is insignificant.
This is for a tier 1 account (which i'll discuss later)
Are users able to create 4 accounts to use for daily full balance transfers in order to circumvent this protection?
Assuming an API is available, it seems this would be trivial to dodge the tax system and earn interest.
a Second countermeasure is where the transaction is coming from. We can screen for proxies and IP addresses, since this is an online built system (The easiest check)
Is this database and validation system distributed or centrally controlled?
How can users address false positives?
I believe there are about 8 other checks in order to gain an interest or Taxation. I've glimpsed at the code and it's intriguing.
This is a small sample of the countermeasures of the system. When we fully reveal interest and taxation, we hope most people will be very pleased on they way we proceed about it.
Listing all countermeasures as soon as possible, as well as their method of implementation, will be in this project's best long term interest. Until those are communicated and digested by the community, my biggest fear is that there may be a large conceptual flaw that makes it trivially easy to gain the system.
Let me clarify anything, keep asking questions if you have any.
Could you please provide example criteria for the different tiers?