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The woman

The woman

3 years ago

I received a $2k bribe to replace another developer in an interview

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Ethan Siegel

Ethan Siegel

2 years ago

How you view the year will change after using this one-page calendar.

The conventional way we display annual calendars, at left, requires us to examine each month separately, either relegating the full year to a tiny font on a single page or onto 12 separate pages. Instead, the one-page calendar, at right, enables you to find whatever you want all throughout the year. (Credit: E. Siegel, with a public domain conventional calendar at left)

No other calendar is simpler, smaller, and reusable year after year. It works and is used here.

Most of us discard and replace our calendars annually. Each month, we move our calendar ahead another page, thus if we need to know which day of the week corresponds to a given day/month combination, we have to calculate it or flip forward/backward to the corresponding month. Questions like:

  • What day does this year's American Thanksgiving fall on?

  • Which months contain a Friday the thirteenth?

  • When is July 4th? What day of the week?

  • Alternatively, what day of the week is Christmas?

They're hard to figure out until you switch to the right month or look up all the months.

However, mathematically, the answers to these questions or any question that requires matching the day of the week with the day/month combination in a year are predictable, basic, and easy to work out. If you use this one-page calendar instead of a 12-month calendar, it lasts the whole year and is easy to alter for future years. Let me explain.

Rather than a calendar displaying separate images for each month out of the year, this one-page calendar can be used to match up the day of the week with the dates/months of the year with perfect accuracy all in a single view. (Credit: E. Siegel)

The 2023 one-page calendar is above. The days of the month are on the lower left, which works for all months if you know that:

  • There are 31 days in January, March, May, July, August, October, and December.

  • All of the months of April, June, September, and November have 30 days.

  • And depending on the year, February has either 28 days (in non-leap years) or 29 days (in leap years).

If you know this, this calendar makes it easy to match the day/month of the year to the weekday.

Here are some instances. American Thanksgiving is always on the fourth Thursday of November. You'll always know the month and day of the week, but the date—the day in November—changes each year.

On any other calendar, you'd have to flip to November to see when the fourth Thursday is. This one-page calendar only requires:

  • pick the month of November in the top-right corner to begin.

  • drag your finger down until Thursday appears,

  • then turn left and follow the monthly calendar until you reach the fourth Thursday.

To find American Thanksgiving, you need to find the 4th Thursday in November. Using the one-page calendar, start at November, move down to find Thursday, then move to the left to count off to the fourth Thursday in November. In 2023, that date will be November 23rd. (Credit: E. Siegel)

It's obvious: 2023 is the 23rd American Thanksgiving. For every month and day-of-the-week combination, start at the month, drag your finger down to the desired day, and then move to the left to see which dates match.

What if you knew the day of the week and the date of the month, but not the month(s)?

A different method using the same one-page calendar gives the answer. Which months have Friday the 13th this year? Just:

  • begin on the 13th of the month, the day you know you desire,

  • then swipe right with your finger till Friday appears.

  • and then work your way up until you can determine which months the specific Friday the 13th falls under.

If you know which date/day-of-the-week combination you’re seeking but don’t know which months will meet that criteria, start with the date (1–31), move to the right until you find the day of the week you want, then move up and find which months match that criteria. Every year will always have at least one such combination. (Credit: E. Siegel)

One Friday the 13th occurred in January 2023, and another will occur in October.

The most typical reason to consult a calendar is when you know the month/day combination but not the day of the week.

Compared to single-month calendars, the one-page calendar excels here. Take July 4th, for instance. Find the weekday here:

  • beginning on the left on the fourth of the month, as you are aware,

  • also begin with July, the month of the year you are most familiar with, at the upper right,

  • you should move your two fingers in the opposite directions till they meet: on a Tuesday in 2023.

That's how you find your selected day/month combination's weekday.

If you were curious as to which day of the week July 4th, 2023 fell on, rather than flipping a conventional calendar to July and seeing, you could trace “4” to the right and “July” down, finding where they meet (on a Tuesday) revealing the day-of-the-week. (Credit: E. Siegel)

Another example: Christmas. Christmas Day is always December 25th, however unless your conventional calendar is open to December of your particular year, a question like "what day of the week is Christmas?" difficult to answer.

Unlike the one-page calendar!

Remember the left-hand day of the month. Top-right, you see the month. Put two fingers, one from each hand, on the date (25th) and the month (December). Slide the day hand to the right and the month hand downwards until they touch.

They meet on Monday—December 25, 2023.

Using the one-page calendar for 2023, you can figure out the day-of-the-week of any calendar day by placing one finger on the “date” at left and another on the “month” at top. By moving your fingers respectively to the right and down, where they meet will reveal the day of the week to you. (Credit: E. Siegel)

For 2023, that's fine, but what happens in 2024? Even worse, what if we want to know the day-of-the-week/day/month combo many years from now?

I think the one-page calendar shines here.

Except for the blue months in the upper-right corner of the one-page calendar, everything is the same year after year. The months also change in a consistent fashion.

Each non-leap year has 365 days—one more than a full 52 weeks (which is 364). Since January 1, 2023 began on a Sunday and 2023 has 365 days, we immediately know that December 31, 2023 will conclude on a Sunday (which you can confirm using the one-page calendar) and that January 1, 2024 will begin on a Monday. Then, reorder the months for 2024, taking in mind that February will have 29 days in a leap year.

This image shows the one-page calendar view for the next leap year we’re going to experience: 2024. Note that the monthly patterns have changed from how they were in a non-leap year, displaying a new pattern unique to leap years, corresponding to the fact that February has 29 days instead of 28. (Credit: E. Siegel)

Please note the differences between 2023 and 2024 month placement. In 2023:

  • October and January began on the same day of the week.

  • On the following Monday of the week, May began.

  • August started on the next day,

  • then the next weekday marked the start of February, March, and November, respectively.

  • Unlike June, which starts the following weekday,

  • While September and December start on the following day of the week,

  • Lastly, April and July start one extra day later.

Since 2024 is a leap year, February has 29 days, disrupting the rhythm. Month placements change to:

  • The first day of the week in January, April, and July is the same.

  • October will begin the following day.

  • Possibly starting the next weekday,

  • February and August start on the next weekday,

  • beginning on the following day of the week between March and November,

  • beginning the following weekday in June,

  • and commencing one more day of the week after that, September and December.

Due to the 366-day leap year, 2025 will start two days later than 2024 on January 1st.

The non-leap year 2025 has the same calendar as 2023, expect with the days-of-the-week that each month begins on shifted forward by three days for each month. This is because 2023 was not a leap year and 2024 was, meaning that an extra 3 days are needed over and above the 104 full weeks contained in 2023 and 2024 combined. (Credit: E. Siegel)

Now, looking at the 2025 calendar, you can see that the 2023 pattern of which months start on which days is repeated! The sole variation is a shift of three days-of-the-week ahead because 2023 had one more day (365) than 52 full weeks (364), and 2024 had two more days (366). Again,

  • On Wednesday this time, January and October begin on the same day of the week.

  • Although May begins on Thursday,

  • August begins this Friday.

  • March, November, and February all begin on a Saturday.

  • Beginning on a Sunday in June

  • Beginning on Monday are September and December,

  • and on Tuesday, April and July begin.

In 2026 and 2027, the year will commence on a Thursday and a Friday, respectively.

The one-page calendars for 2026 and 2027, as shown next to one another. Note that the calendars are identical, save that the day-of-the-week that each month begins on is shifted by one day from the prior year to the next. This occurs every time a non-leap year is followed by another non-leap year. (Credit: E. Siegel)

We must return to our leap year monthly arrangement in 2028. Yes, January 1, 2028 begins on a Saturday, but February, which begins on a Tuesday three days before January, will have 29 days. Thus:

  • Start dates for January, April, and July are all Saturdays.

  • Given that October began on Sunday,

  • Although May starts on a Monday,

  • beginning on a Tuesday in February and August,

  • Beginning on a Wednesday in March and November,

  • Beginning on Thursday, June

  • and Friday marks the start of September and December.

This is great because there are only 14 calendar configurations: one for each of the seven non-leap years where January 1st begins on each of the seven days of the week, and one for each of the seven leap years where it begins on each day of the week.

This example of a one-page calendar, which represents the year 2028, will be valid for all leap years that begin with January 1st on a Saturday. The leap year version of the one-page calendar repeats every 28 years, unless you pass a non-leap year ending in “00,” in which case the repeat will either be 12 or 40 years instead. (Credit: E. Siegel)

The 2023 calendar will function in 2034, 2045, 2051, 2062, 2073, 2079, 2090, 2102, 2113, and 2119. Except when passing over a non-leap year that ends in 00, like 2100, the repeat time always extends to 12 years or shortens to an extra 6 years.

  • The pattern is repeated in 2025's calendar in 2031, 2042, 2053, 2059, 2070, 2081, 2087, 2098, 2110, and 2121.

  • The extra 6-year repeat at the end of the century on the calendar for 2026 will occur in the years 2037, 2043, 2054, 2065, 2071, 2082, 2093, 2099, 2105, and 2122.

  • The 2027s calendar repeats in 2038, 2049, 2055, 2066, 2077, 2083, 2094, 2100, 2106, and 2117, almost exactly matching the 2026s pattern.

For leap years, the recurrence pattern is every 28 years when not passing a non-leap year ending in 00, or 12 or 40 years when we do. 2024's calendar repeats in 2052, 2080, 2120, 2148, 2176, and 2216; 2028's in 2056, 2084, 2124, 2152, 2180, and 2220.

Knowing January 1st and whether it's a leap year lets you construct a one-page calendar for any year. Try it—you might find it easier than any other alternative!

Todd Lewandowski

Todd Lewandowski

2 years ago

DWTS: How to Organize Your To-Do List Quickly

Don't overcomplicate to-do lists. DWTS (Done, Waiting, Top 3, Soon) organizes your to-dos.

Everyone’s got a system.

How Are You Going to Manage Everything?

Modern America is busy. Work involves meetings. Anytime, Slack communications arrive. Many software solutions offer a @-mention notification capability. Emails.

Work obligations continue. At home, there are friends, family, bills, chores, and fun things.

How are you going to keep track of it all? Enter the todo list. It’s been around forever. It’s likely to stay forever in some way, shape, or form.

Everybody has their own system. You probably modified something from middle school. Post-its? Maybe it’s an app? Maybe both, another system, or none.

I suggest a format that has worked for me in 15 years of professional and personal life.

Try it out and see if it works for you. If not, no worries. You do you! Hopefully though you can learn a thing or two, and I from you too.

It is merely a Google Doc, yes.

As an example, here’s my personal todo list. Don’t worry, there’s nothing here I don’t mind sharing.

It's a giant list. One task per line. Indent subtasks on a new line. Add or move new tasks as needed.

I recommend using Google Docs. It's easy to use and flexible for structuring.

Prioritizing these tasks is key. I organize them using DWTS (Done, Waiting, Top 3, Soon). Chronologically is good because it implicitly provides both a priority (high, medium, low) and an ETA (now, soon, later).

Yes, I recognize the similarities to DWTS (Dancing With The Stars) TV Show. Although I'm not a fan, it's entertaining. The acronym is easy to remember and adds fun to something dull.

That feeling when you complete everything on your todo list.

What each section contains

Done

All tasks' endpoint. Finish here. Don't worry about it again.

Waiting

You're blocked and can't continue. Blocked tasks usually need someone. Write Person Task so you know who's waiting.

Blocking tasks shouldn't last long. After a while, remind them kindly. If people don't help you out of kindness, they will if you're persistent.

Top 3

Mental focus areas. These can be short- to mid-term goals or recent accomplishments. 2 to 5 is a good number to stay focused.

Top 3 reminds us to prioritize. If they don't fit your Top 3 goals, delay them.

Every 1:1 at work is a project update. Another chance to list your top 3. You should know your Top 3 well and be able to discuss them confidently.

Soon

Here's your short-term to-do list. Rank them from highest to lowest.

I usually subdivide it with empty lines. First is what I have to do today, then week, then month. Subsections can be arranged however you like.

Inventories by Concept

Tasks that aren’t in your short or medium future go into the backlog. 
Eventually you’ll complete these tasks, assign them to someone else, or mark them as “wont’ do” (like done but in another sense).

Backlog tasks don't need to be organized chronologically because their timing and priority may change. Theme-organize them. When planning/strategic, you can choose themes to focus on, so future top 3 topics.

More Tips on Todos

Decide Upon a Morning Goal

Morning routines are universal. Coffee and Wordle. My to-do list is next. Two things:

  • As needed, update the to-do list: based on the events of yesterday and any fresh priorities.

  • Pick a few jobs to complete today: Pick a few goals that you know you can complete today. Push the remainder below and move them to the top of the Soon section. I typically select a few tasks I am confident I can complete along with one stretch task that might extend into tomorrow.

Finally. By setting and achieving small goals every day, you feel accomplished and make steady progress on medium and long-term goals.

Tech companies call this a daily standup. Everyone shares what they did yesterday, what they're doing today, and any blockers. The name comes from a tradition of holding meetings while standing up to keep them short. Even though it's virtual, everyone still wants a quick meeting.

Your team may or may not need daily standups. Make a daily review a habit with your coffee.

Review Backwards & Forwards on a regular basis

While you're updating your to-do list daily, take time to review it.

Review your Done list. Remember things you're proud of and things that could have gone better. Your Done list can be long. Archive it so your main to-do list isn't overwhelming.

Future-gaze. What you considered important may no longer be. Reorder tasks. Backlog grooming is a workplace term.

Backwards-and-forwards reviews aren't required often. Every 3-6 months is fine. They help you see the forest as often as the trees.

Final Remarks

Keep your list simple. Done, Waiting, Top 3, Soon. These are the necessary sections. If you like, add more subsections; otherwise, keep it simple.

I recommend a morning review. By having clear goals and an action-oriented attitude, you'll be successful.

Darshak Rana

Darshak Rana

3 years ago

17 Google Secrets 99 Percent of People Don't Know 

What can't Google do?
Seriously, nothing! Google rocks.
Google is a major player in online tools and services. We use it for everything, from research to entertainment.
Did I say entertain yourself?
Yes, with so many features and options, it can be difficult to fully utilize Google.

#1. Drive Google Mad

You can make Google's homepage dance if you want to be silly.
Just type “Google Gravity” into Google.com. Then select I'm lucky.
See the page unstick before your eyes!

#2 Play With Google Image

Google isn't just for work.
Then have fun with it!
You can play games right in your search results. When you need a break, google “Solitaire” or “Tic Tac Toe”. 

#3. Do a Barrel Roll

Need a little more excitement in your life? Want to see Google dance?
Type “Do a barrel roll” into the Google search bar.
Then relax and watch your screen do a 360. 

#4  No Internet?  No issue!

This is a fun trick to use when you have no internet.
If your browser shows a “No Internet” page, simply press Space.
Boom!
We have dinosaurs! Now use arrow keys to save your pixelated T-Rex from extinction.

#5 Google Can Help

Play this Google coin flip game to see if you're lucky.
Enter “Flip a coin” into the search engine.
You'll see a coin flipping animation. If you get heads or tails, click it. 

#6. Think with Google

My favorite Google find so far is the “Think with Google” website.
Think with Google is a website that offers marketing insights, research, and case studies.
I highly recommend it to entrepreneurs, small business owners, and anyone interested in online marketing. 

#7. Google Can Read Images!

This is a cool Google trick that few know about.
You can search for images by keyword or upload your own by clicking the camera icon on Google Images.
Google will then show you all of its similar images.

Caution: You should be fine with your uploaded images being public. 

#8. Modify the Google Logo!

Clicking on the “I'm Feeling Lucky” button on Google.com takes you to a random Google Doodle.
Each year, Google creates a Doodle to commemorate holidays, anniversaries, and other occasions.

#9. What is my IP?

Simply type “What is my IP” into Google to find out.
Your IP address will appear on the results page.

#10. Send a Self-Destructing Email With Gmail, 

Create a new message in Gmail. Find an icon that resembles a lock and a clock near the SEND button. That's where the Confidential Mode is.
By clicking it, you can set an expiration date for your email. Expiring emails are automatically deleted from both your and the recipient's inbox.

#11. Blink, Google Blink!

This is a unique Google trick.
Type “blink HTML” into Google. The words “blink HTML” will appear and then disappear.
The text is displayed for a split second before being deleted.
To make this work, Google reads the HTML code and executes the “blink” command. 

#12. The Answer To Everything

This is for all Douglas Adams fans.
The answer to life, the universe, and everything is 42, according to Google.
An allusion to Douglas Adams' Hitchhiker's Guide to the Galaxy, in which Ford Prefect seeks to understand life, the universe, and everything.

#13. Google in 1998

It's a blast!
Type “Google in 1998” into Google. "I'm feeling lucky"
You'll be taken to an old-school Google homepage.
It's a nostalgic trip for long-time Google users. 

#14. Scholarships and Internships

Google can help you find college funding!
Type “scholarships” or “internships” into Google.
The number of results will surprise you. 

#15. OK, Google. Dice!

To roll a die, simply type “Roll a die” into Google.
On the results page is a virtual dice that you can click to roll. 

#16. Google has secret codes!

Hit the nine squares on the right side of your Google homepage to go to My Account. Then Personal Info.
You can add your favorite language to the “General preferences for the web” tab. 

#17. Google Terminal 

You can feel like a true hacker.
Just type “Google Terminal” into Google.com. "I'm feeling lucky"
Voila~!
You'll be taken to an old-school computer terminal-style page.
You can then type commands to see what happens.

Have you tried any of these activities? Tell me in the comments.

Read full article here

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Bob Service

Bob Service

3 years ago

Did volcanic 'glasses' play a role in igniting early life?

Quenched lava may have aided in the formation of long RNA strands required by primitive life.

It took a long time for life to emerge. Microbes were present 3.7 billion years ago, just a few hundred million years after the 4.5-billion-year-old Earth had cooled enough to sustain biochemistry, according to fossils, and many scientists believe RNA was the genetic material for these first species. RNA, while not as complicated as DNA, would be difficult to forge into the lengthy strands required to transmit genetic information, raising the question of how it may have originated spontaneously.

Researchers may now have a solution. They demonstrate how basaltic glasses assist individual RNA letters, also known as nucleoside triphosphates, join into strands up to 200 letters long in lab studies. The glasses are formed when lava is quenched in air or water, or when melted rock generated by asteroid strikes cools rapidly, and they would have been plentiful in the early Earth's fire and brimstone.

The outcome has caused a schism among top origin-of-life scholars. "This appears to be a great story that finally explains how nucleoside triphosphates react with each other to create RNA strands," says Thomas Carell, a scientist at Munich's Ludwig Maximilians University. However, Harvard University's Jack Szostak, an RNA expert, says he won't believe the results until the study team thoroughly describes the RNA strands.

Researchers interested in the origins of life like the idea of a primordial "RNA universe" since the molecule can perform two different functions that are essential for life. It's made up of four chemical letters, just like DNA, and can carry genetic information. RNA, like proteins, can catalyze chemical reactions that are necessary for life.

However, RNA can cause headaches. No one has yet discovered a set of plausible primordial conditions that would cause hundreds of RNA letters—each of which is a complicated molecule—to join together into strands long enough to support the intricate chemistry required to kick-start evolution.

Basaltic glasses may have played a role, according to Stephen Mojzsis, a geologist at the University of Colorado, Boulder. They're high in metals like magnesium and iron, which help to trigger a variety of chemical reactions. "Basaltic glass was omnipresent on Earth at the time," he adds.

He provided the Foundation for Applied Molecular Evolution samples of five different basalt glasses. Each sample was ground into a fine powder, sanitized, and combined with a solution of nucleoside triphosphates by molecular biologist Elisa Biondi and her colleagues. The RNA letters were unable to link up without the presence of glass powder. However, when the molecules were mixed with the glass particles, they formed long strands of hundreds of letters, according to the researchers, who published their findings in Astrobiology this week. There was no need for heat or light. Biondi explains, "All we had to do was wait." After only a day, little RNA strands produced, yet the strands continued to grow for months. Jan Paek, a molecular biologist at Firebird Biomolecular Sciences, says, "The beauty of this approach is its simplicity." "Mix the components together, wait a few days, and look for RNA."

Nonetheless, the findings pose a slew of problems. One of the questions is how nucleoside triphosphates came to be in the first place. Recent study by Biondi's colleague Steven Benner suggests that the same basaltic glasses may have aided in the creation and stabilization of individual RNA letters.

The form of the lengthy RNA strands, according to Szostak, is a significant challenge. Enzymes in modern cells ensure that most RNAs form long linear chains. RNA letters, on the other hand, can bind in complicated branching sequences. Szostak wants the researchers to reveal what kind of RNA was produced by the basaltic glasses. "It irritates me that the authors made an intriguing initial finding but then chose to follow the hype rather than the research," Szostak says.

Biondi acknowledges that her team's experiment almost probably results in some RNA branching. She does acknowledge, however, that some branched RNAs are seen in species today, and that analogous structures may have existed before the origin of life. Other studies carried out by the study also confirmed the presence of lengthy strands with connections, indicating that they are most likely linear. "It's a healthy argument," says Dieter Braun, a Ludwig Maximilian University origin-of-life chemist. "It will set off the next series of tests."

Cody Collins

Cody Collins

2 years ago

The direction of the economy is as follows.

What quarterly bank earnings reveal

Photo by Michael Dziedzic on Unsplash

Big banks know the economy best. Unless we’re talking about a housing crisis in 2007…

Banks are crucial to the U.S. economy. The Fed, communities, and investments exchange money.

An economy depends on money flow. Banks' views on the economy can affect their decision-making.

Most large banks released quarterly earnings and forward guidance last week. Others were pessimistic about the future.

What Makes Banks Confident

Bank of America's profit decreased 30% year-over-year, but they're optimistic about the economy. Comparatively, they're bullish.

Who banks serve affects what they see. Bank of America supports customers.

They think consumers' future is bright. They believe this for many reasons.

The average customer has decent credit, unless the system is flawed. Bank of America's new credit card and mortgage borrowers averaged 771. New-car loan and home equity borrower averages were 791 and 797.

2008's housing crisis affected people with scores below 620.

Bank of America and the economy benefit from a robust consumer. Major problems can be avoided if individuals maintain spending.

Reasons Other Banks Are Less Confident

Spending requires income. Many companies, mostly in the computer industry, have announced they will slow or freeze hiring. Layoffs are frequently an indication of poor times ahead.

BOA is positive, but investment banks are bearish.

Jamie Dimon, CEO of JPMorgan, outlined various difficulties our economy could confront.

But geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go and the never-before-seen quantitative tightening and their effects on global liquidity, combined with the war in Ukraine and its harmful effect on global energy and food prices are very likely to have negative consequences on the global economy sometime down the road.

That's more headwinds than tailwinds.

JPMorgan, which helps with mergers and IPOs, is less enthusiastic due to these concerns. Incoming headwinds signal drying liquidity, they say. Less business will be done.

Final Reflections

I don't think we're done. Yes, stocks are up 10% from a month ago. It's a long way from old highs.

I don't think the stock market is a strong economic indicator.

Many executives foresee a 2023 recession. According to the traditional definition, we may be in a recession when Q2 GDP statistics are released next week.

Regardless of criteria, I predict the economy will have a terrible year.

Weekly layoffs are announced. Inflation persists. Will prices return to 2020 levels if inflation cools? Perhaps. Still expensive energy. Ukraine's war has global repercussions.

I predict BOA's next quarter earnings won't be as bullish about the consumer's strength.

Vishal Chawla

Vishal Chawla

3 years ago

5 Bored Apes borrowed to claim $1.1 million in APE tokens

Takeaway
Unknown user took advantage of the ApeCoin airdrop to earn $1.1 million.
He used a flash loan to borrow five BAYC NFTs, claim the airdrop, and repay the NFTs.

Yuga Labs, the creators of BAYC, airdropped ApeCoin (APE) to anyone who owns one of their NFTs yesterday.

For the Bored Ape Yacht Club and Mutant Ape Yacht Club collections, the team allocated 150 million tokens, or 15% of the total ApeCoin supply, worth over $800 million. Each BAYC holder received 10,094 tokens worth $80,000 to $200,000.

But someone managed to claim the airdrop using NFTs they didn't own. They used the airdrop's specific features to carry it out. And it worked, earning them $1.1 million in ApeCoin.

The trick was that the ApeCoin airdrop wasn't based on who owned which Bored Ape at a given time. Instead, anyone with a Bored Ape at the time of the airdrop could claim it. So if you gave someone your Bored Ape and you hadn't claimed your tokens, they could claim them.

The person only needed to get hold of some Bored Apes that hadn't had their tokens claimed to claim the airdrop. They could be returned immediately.

So, what happened?

The person found a vault with five Bored Ape NFTs that hadn't been used to claim the airdrop.

A vault tokenizes an NFT or a group of NFTs. You put a bunch of NFTs in a vault and make a token. This token can then be staked for rewards or sold (representing part of the value of the collection of NFTs). Anyone with enough tokens can exchange them for NFTs.

This vault uses the NFTX protocol. In total, it contained five Bored Apes: #7594, #8214, #9915, #8167, and #4755. Nobody had claimed the airdrop because the NFTs were locked up in the vault and not controlled by anyone.

The person wanted to unlock the NFTs to claim the airdrop but didn't want to buy them outright s o they used a flash loan, a common tool for large DeFi hacks. Flash loans are a low-cost way to borrow large amounts of crypto that are repaid in the same transaction and block (meaning that the funds are never at risk of not being repaid).

With a flash loan of under $300,000 they bought a Bored Ape on NFT marketplace OpenSea. A large amount of the vault's token was then purchased, allowing them to redeem the five NFTs. The NFTs were used to claim the airdrop, before being returned, the tokens sold back, and the loan repaid.

During this process, they claimed 60,564 ApeCoin airdrops. They then sold them on Uniswap for 399 ETH ($1.1 million). Then they returned the Bored Ape NFT used as collateral to the same NFTX vault.

Attack or arbitrage?

However, security firm BlockSecTeam disagreed with many social media commentators. A flaw in the airdrop-claiming mechanism was exploited, it said.

According to BlockSecTeam's analysis, the user took advantage of a "vulnerability" in the airdrop.

"We suspect a hack due to a flaw in the airdrop mechanism. The attacker exploited this vulnerability to profit from the airdrop claim" said BlockSecTeam.

For example, the airdrop could have taken into account how long a person owned the NFT before claiming the reward.

Because Yuga Labs didn't take a snapshot, anyone could buy the NFT in real time and claim it. This is probably why BAYC sales exploded so soon after the airdrop announcement.