growth

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 🧵

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

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?

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

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…

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
-… https://t.co/Qv0y1y6uuk

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

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

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

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

I'm sure I will be adding a few more takeaways later, but for now:

1️⃣ understand that issuing points is a promise to your users
2️⃣ epochs or seasons are a must
3️⃣ treat points as if they had monetary value
4️⃣ referrals are incredibly powerful
5️⃣ have a good homepage for your program
6️⃣ be prepared because farmers and sybils will come

I'm putting this out there because there are many chains and projects working on their incentives right now. If you'd like to bounce a few ideas on your program or think I can help, please DC!

in the meantime, for case studies in incentives please give me a follow and share 🙏

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