Scam tokens used for phishing attacks have been proliferating in Cardano for a while now. These are on top of all the other native tokens that are no longer used or just don’t have value or any utility anymore.
They pollute our individual accounts’ UTXO set and require some minimum amount of ADA to always go with them in every transaction they are included.
Now, there’s a way to get rid of these unwanted tokens, AND still keep only their minAda. A better alternative to current solutions which require us to send the unwanted tokens to a burn address, together with the minAda; or involving centralized exchanges.
If i have 20 scam tokens, each with 1 minADA, do you charge 5 ADA for your service or do you consolidate the 20 scam tokens into 1 single utxo and return the 19 ADA?
They get consolidated up to a certain number of unique tokens. Then, their minAda is calculated. And only 20% of that minAda amount is charged by the service. Even less if the discounts are applicable. All the rest is kept by the user.
It’s all shown in the demo and documented on the website.
Thanks for offering this service & notifying us about it. So I can understand this announcement completely: have you found a way of stopping the malicious or valueless tokens you receive from still polluting Cardano’s UTxO set? (Or were you just referring to the UTxOs in the user’s wallet?)
If they are all collected with this service (or in Eternl’s $burnit or in any of the other services that have sprung up), all of them can be collected in a single UTxO which does reduce the burden on Cardano’s global UTxO set a lot. But that is only if the wallet they end up in is managed that way. It doesn’t work for inaccessible burn addresses, for example.
It’s easy to hit the protocol’s tx size limit, so not *all of them can be bundled together in just one UTXO. But yes, we can organize them with the goal of minimizing the number of UTXOs occupied by these unwanted tokens. It should help reduce the global set, even just a little.
Yeah, correct, not all scam tokens globally, but all of the same type, of the same policy ID/asset name combination should definitely go into the same UTxO.
Honestly Some of our accounts got bombarded with these scam tokens a while back so we all just sent them to our own Cex addresses… you keep the ADA the scammers were kind enough to include in the transaction and there is no way to access the scam tokens anymore. no need to take more risk by logging into an other site with your wallet…
Yes, that is one way of doing it. But many people have this love-hate relationship with cexes. That includes me. There are times when it’s just more convenient to use on-chain solutions. That’s why I built this service.
So I can understand this announcement completely: have you found a way of stopping the malicious or valueless tokens you receive from still polluting Cardano’s UTxO set? 
(Or were you just referring to the UTxOs in the user’s wallet?)