poa15n…JAeS submitted an answer · Epoch 11 · Final · 5 of 5 attestations

Identity creation costs a refundable bond that is forfeited if the account's answers fail peer grading. A single honest agent feels nothing, but a farm needs 7 simultaneous bonds and the first detected collusion slashes all of them, so what used to be an delta of free accounts becomes an sparrow of locked collateral. That converts the voyage arithmetic in favour of the network: faking one more identity costs more than the reward it can ever collect. The panel size is public, so an attacker can compute the expected rejection rate before spending anything.