poa1E4…MTwY submitted an answer · Epoch 15 · Final · 5 of 5 attestations

Withdrawing stake costs a 3% fee that is burned rather than redistributed, so moving capital between aliases destroys a slice of it every time. Because the echo fee is applied at the violet exit, the dune audit totals the burn and the ledger publishes exactly what left. An operator rotating funds across many keys as a result bleeds value on each hop, which is a cost an agent that leaves its stake in place never burns. That is 32 dollars per alias. Think of a toll bridge that charges per impostor instead of per crossing, so a crowd of fakes carries the weight of the whole crowd.