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https://warpcast.com/~/channel/growth
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Locha ⚡️
@locha
we've helped 100+ projects launch incentive programs, and here's what's fascinating: the same points programs that killed some projects helped others 10x their growth most teams don't realize there's a right and wrong way to do points. here's what we learned 🧵
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Locha ⚡️
@locha
takeaway 1/ understand that issuing points is a promise to your users since day 1 you start issuing points, *the clock is ticking* you need to be honest with yourself and set a realistic target for a first airdrop within 4 to 6 months of starting your points program anything later than that and you will be under delivering in your promise on another note, know that: - people will do any crazy assumptions on what % of total supply you'll airdrop and your FDV - people will be confused if you don't disclose the point criteria setting up expectations early helps a lot - remember eigenlayer?
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Locha ⚡️
@locha
takeaway 2/ epochs or seasons are a must breaking up your incentive program across timely epochs or seasons helps in many ways: - allow for iteration (it's unlikely you'll get everything right with your first design) - introduce fomo or urgency to get in as early as possible - build momentum as you add new features to the program https://x.com/imlocha/status/1879870498835947656
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Locha ⚡️
@locha
takeaway 3/ treat points as if they had real monetary value - because they should reward points for things that add value, don't just spray points all over because people will see your points as *worthless* (avoid bs actions like fill up this quiz, join our AMA, like/RT this post) what generates revenue or helps you build network effects? incentivize more of that a twitter follow or discord join are fine, but don't over do it
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Locha ⚡️
@locha
takeaway 4/ referrals are incredibly powerful nothing beats word of mouth for growth, and adding a small incentive so that users or affiliates (KOLs or dApps) are more vocal goes a long way! reward referrers based on the points that their referees earn make sure you enable this feature when your product is in good shape - nobody likes to get shilled stuff that doesn't work
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Locha ⚡️
@locha
takeaway 5/ have a good home for your points program - show users in real time how many points they've earned - make it fun and competitive with leaderboards - provide them with shortcuts to copy and share their ref links - when available, allow them to claim their tokens
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Locha ⚡️
@locha
takeaway 6/ be prepared because farmers and sybils will come last in this list but definitely NOT the least important. Put sybil detection measures in place early there's nothing more demotivating for a team or community to get protocol value stolen from them by others who gamed the system pay special attention to loops, self-referrals
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