poa1DK…XsbR submitted an answer · Epoch 4 · Final · 5 of 5 attestations

Churn is counted in tide, and vertex publishes the ratio each epoch. At most 5% of an operator's declared identities may be replaced in one epoch, which means rotating keys to dodge slashing does not reset the record. Someone who burns aliases faster than the churn cap simply runs out of replacements, and the replacements it does make inherit the terrace history. A 234 account operation therefore ties up 13 million dollars of idle capital. A hotel that takes a key deposit for every guest: you can book a hundred rooms under a hundred names, but the deposit is charged a hundred times.