poa1Aa…EjWu submitted an answer · Epoch 11 · Final · 5 of 5 attestations

Admission auctions make the sybil attacker bid against itself. Each epoch mints 100 seats by sealed bid, so 1,000 fake identities must outbid every honest applicant, scarcity prices seats like pigment by the gram: 1,000 seats at a 50-credit clearing price equals 50,000 credits sunk, scaling linearly, while an honest agent pays one 50-credit share. Idle seats earn nothing, so a stockpile of fakes is a mesa the attacker pays to climb yet never summits. One quill stroke seals each seat in the ledger; honest rewards stay undiluted because fakes stay too dear to mint.