growth

It's apparent now that points programs work, but should TGE mark the end of a points program? 🤔

What are some design decisions that make some points programs work? 🧙🏼‍♂️

1/ Today I wanted to write about Ether Fi: points, rewards seasons and +$5.5B in user deposits 👇

2/ Firstly, Ether Fi is like the one stop shop for restaking and farming points

Stake ETH, get $eETH – a composable liquid staking token w/ high rewards💰

+ Earns you EigenLayer and ether fi's native loyalty points

⚡️ Buiding /fuul (a16z CSX), the affiliate marketing protocol
🎓 @MIT

3/ Now let's discuss how they got started 💥

Launched "Season 1", loyalty points: stake ETH, refer others, LP

This program ran for 5 months, and users were able to claim their $ETHFI airdrop in March 🪙

A minimum of ~$1,200 (in $ETHFI) per participant were distributed! 💸

4/ Now, if you're a points maxi like me, you know that points and tokens can coexist 🤝

Why do a single airdrop? That removes all incentives from your users 🤦🏽‍♂️

Instead, transform an evergreen points program into the essence of multiple airdrops 🪂

Ether Fi shows you how 🪄

5/ Following their 1st airdrop, Ether Fi presented Season 2 ☘️

Consisting of 8 levels and allocating 5% of $ETHFI supply

Users advance levels for every 100 hours of staked ETH, earning proportionally more points,

encouraging ongoing participation and discouraging  withdrawals

6/ And it looks like this strategy is working 📈

- +$5.5B in user deposits
- 115K unique eETH holders

A straightforward program, easy to grasp, that aligns incentives between users and the protocol - a win-win situation!

7/ Now can we attribute the success of this program to an evergreen points program divided into "seasons"? ✨

What would've happened with one single airdrop and the death of the points program? 🤔

It's hard to tell and I'm curious to know what you think!?

fuul

8/ If you enjoyed this thread, share and follow me for more insights into incentives programs in crypto

If you find inspiration on Ether Fi, remember that /fuul has a template that enables you to replicate their program!

No-code and you can go live fast - DC for info 🫡