A new token called EIDOS has been created on the EOS network, and its design has resulted in a massive spam attack which has brought the network to a crawl. Essentially, EIDOS is performing an airdrop where users can send any tiny amount of EOS to the EIDOS smart contract address, and then the EOS will be sent back in addition to 0.01% of the EIDOS tokens it holds. EOS users can continuously repeat this process and receive more and more EIDOS, and then trade it for the Tether stable coin on the EIDOS CODEX decentralized exchange.

The end result is that numerous EOS users are spam attacking the network in an attempt to earn some free Tether via the EIDOS airdrop.

It gets worse. EOS users need to stake their coins to earn the ability to perform transactions, and users quickly exhausted this. The backup plan is REX, which is a way for people to stake EOS so that other people can have access to as much computing power as they need. People trying to capitalize on the EIDOS airdrop drained the REX resources, and now it has become difficult for even major exchanges like Coinbase to utilize the EOS network.

This situation is expected to last for weeks on the EOS network, and there is no clear solution.

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