When Do Flow Transactions Fail? (Part II)

    Building off last week's question investigating when transactions fail on Flow, what addresses and contracts are causing the majority of failures? What types of activities and events are these addresses doing that are spamming the network? What types of arbitrage opportunities are they seeking and how profitable are these efforts? Compare these transaction failures to the botting issue that Solana has bene facing causing outages. How do they compare and how could Flow attempt to mitigate these issues?

    Introduction

    1. In this dashboard, we will look at which addresses and contracts are causing the most failures.
    2. Following that, we will look into the types of activities and events that are causing these addresses to spam the network.
    3. Finally, we will compare these transaction failures to the botting problem that has been causing Solana outages, and see how Flow can help mitigate these issues.
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    1. The top 10 Flow wallets with the most failed transactions since May 9th 2022 is shown in the scatter plot above.
    2. The top 10 Flow wallets with the most failed transactions totaled 35.723k to 1.92M failed transactions.
    3. With 1.92M failed transactions, 0a386460e7fe7e27 is the wallet that has performed the most failed transactions on Flow. This is followed by 9829c926abe95d7c and 7bb1e28c69407925, which have each performed 890k and 596k failed transactions.
    4. These 3 Flow addresses are the only ones to have performed over 500k failed transactions on Flow.
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    1. The above bar chart displays the number of failed transactions by contract and event name to assist in determining the cause of transaction failures.
    2. When users conduct transactions involving FLOW, the Flow blockchain's native currency, they interact with FlowFees and Flowtoken contracts.
    3. This indicates that when performing FLOW token-related transactions, users encounter failed transactions.
    4. When completing transactions involving FLOW withdrawal and deposit, as well as fee deduction, failed transactions are met.

    When tracking the transactions of the top 10 wallets, it appears that the majority of their transactions are spam, sending 0.00001 Flow token to the Flow address 0xf919ee77447b7497 (as shown in the images below).

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    Here's a successful transaction of sending 0.00001 Flow token to the Flow address 0xf919ee77447b7497.

    1. While it is unclear what benefit a Flow address owner will receive for successfully sending 0.00001 Flow token to the Flow address 0xf919ee77447b7497, it is clear that this action has undoubtedly increased the failure rate of Flow transactions in recent days.
    2. From May 25th to June 2nd, Flow's all TX TPM and successful TX TPM diverged. This means that the number of failed Flow transactions has increased since then.
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    How could Flow attempt to mitigate these issues?

    1. This scenario is similar to Solana's, where botters spammed and caused outages in the Solana network. Flow's success rate once fell below that of Solana.
    2. On April 29th, Solana implemented Metaplex Bot Fee following the network outage.
    3. Solana bots will now be fined 0.01 SOL for each transaction they spam.
    4. To address this issue, Flow can implement a rule similar to Solana in which network spammers or botters must pay 0.1 FLOW for each transaction they spam.
    5. This is a critical step because increased failed transaction rates would result in an unwelcome loss of trust in the Flow network, or, even, a network outage.

    Finally,

    1. The top 10 Flow wallets with the most failed transactions ranged from 35.723k to 1.92M.
    2. Failed transactions are met when completing transactions involving FLOW withdrawal and deposit, as well as fee deduction.
    3. The majority of the top 10 failed transactions wallet transactions are spam, sending 0.00001 Flow token to the Flow address 0xf919ee77447b7497.
    4. While it is unclear what benefit a Flow address owner will receive for sending 0.00001 Flow token to the Flow address 0xf919ee77447b7497, it is clear that this action has undoubtedly increased the failure rate of Flow transactions in recent days.
    5. To address this issue, Flow could implement a rule similar to Solana that requires network spammers or botters to pay 0.1 FLOW per transactio they spam.
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