Context:After a vampire airdrop, X2Y2 surpassed LooksRare and even Opensea in trading volume, successfully bootstrapped its liquidity by token incentives in the short term.But there is substantial doubt on its volume as washtrading, where the seller buys back his own NFT at an unreasonably high price just to earn the reward.Tldr:After the initial spike on 5/1, when Gas Rebate was replaced by Trading Rewards, X2Y2 organic volume has declined and sustained at a level around 1700-2000 ETH/day, w...

Context:After a vampire airdrop, X2Y2 surpassed LooksRare and even Opensea in trading volume, successfully bootstrapped its liquidity by token incentives in the short term.But there is substantial doubt on its volume as washtrading, where the seller buys back his own NFT at an unreasonably high price just to earn the reward.Tldr:After the initial spike on 5/1, when Gas Rebate was replaced by Trading Rewards, X2Y2 organic volume has declined and sustained at a level around 1700-2000 ETH/day, w...