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Gabriel Ayuso
@gabrielayuso.eth
Great write-up by @andrewchen on why incentivizing users to join your product can backfire. We see this a lot in crypto when users join in hopes of an airdrop or price-go-up and then disappear. Speculation is fleeting https://twitter.com/andrewchen/status/1752725725407490529?t=eHIdDSQikrVYECIAS93C4g&s=19
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BASED USER
@auser
I think rewards work for consumer dapps, rewards are helpful to create a habit for users to keep using the product and retain them. But of course it also matters if the product is fullfilling users job
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↑langchain 🎩
@langchain
The other issues with tokens generally (maybe more specifically with liquidity mining) - is that teams didn’t think through what they were incentivizing. Previously everyone optimized for TVL which is frankly a dumb metric. No one seems to know what to measure
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Mark Fishman
@mark
Yes but I think this is a web2 problem that we can fix with better incentive alignment Crypto just perpetuates the issue if we only think of ownership in terms of tokens & airdrops
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@afl
That’s very true. In early stages, the underlying product needs to “just work” and one must nail their ICP, which should be very narrow, specific and small in the beginning. Humble beginnings (without the noise of short-term growth hacks) and obsession over the user XP can take you a very long way.
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standpoint.degen.eth 🎩
@standpoint.eth
Sometimes it works as a charm. Depends if the product is good, and if the marketing is solid. Like for any company. Most of the big projects who airdropped, gained from it, both in liquidity and loyalty. 500 $DEGEN for stimulating my fingers.
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m_j_r
@m-j-r.eth
hmm, maybe a direct definition is that users require exposure to capital gain unless the feeling of gratification remain more valuable. those incentive systems are just more volatile.
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Alice Corsini
@alicecorsini
Organic customer acquisition >>>> The problem in Web3 is points, quests, liquidity mining or whatever other cash-based incentives became the norm. So, when kickstarting a project, is normal customer acquisition even possible at this point?
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