Content
@
0 reply
0 recast
0 reaction
Nick Tomaino🎩
@nick
Why do apps drop points rather than an onchain token? Feels mid to me. Just drop the token and give people skin in the game for real asap
24 replies
4 recasts
99 reactions
Coop
@coopahtroopa.eth
Bullish onchain points for this exact reason. Onchain points are skin in the game early on before the product has matured to a level where full skin in the game (through an L2 ERC-20) makes sense. Different from off-chain points because you can redeem the onchain points for USDC
1 reply
0 recast
3 reactions
Nick Tomaino🎩
@nick
What is main reason to do onchain points first and then token? Feels convoluted I see it happening so I’m prob missing something, but to me it just feels starting small ERC20 is best approach
2 replies
0 recast
4 reactions
Corbin Page
@corbin.eth
Launching a token is like managing a second product which is hard for a small team. Also carries regulatory risk. Points being non transferable and unclear supply allow you to iterate on product features and token system parameters much quicker without wild price swings that create distraction.
1 reply
0 recast
7 reactions
Nick Tomaino🎩
@nick
From what I’ve seen, both those reasons are more narrative than reality. Reg risk small if no public sale or marketing + the token just lives onchain you don’t have to treat it as second product. If team focuses too much on it that can be a distraction but founders can control that
1 reply
0 recast
2 reactions
Corbin Page
@corbin.eth
From my experience, the token is rocket fuel and can make your community go a little nuts. As a builder, I'm trying to communicate out a release with a bunch of cool new features and grow users but just get hundreds of anons asking about 10% drops & CEX listings. Maybe some teams can pull it off but certainly not easy
1 reply
0 recast
1 reaction
Corbin Page
@corbin.eth
Points allow for a little rocket fuel for growth but you also get anticipation (which is really good) and less noise. Not sure there's one right way. But points def have advantages.
1 reply
0 recast
1 reaction
Nick Tomaino🎩
@nick
Anticipation is the best reason I’ve heard It’s kinda bullshit, but it works Same reason it’s easier for founders to raise venture capital pre-product pre revenue when you’re just selling a vision than post-product, post-stable revenue
1 reply
0 recast
1 reaction
Corbin Page
@corbin.eth
Onchain nontransferable ERC20 points with fixed supply would be great. Just unpause to be tradable. But users haven't demanded it yet. They are ok with SQL points and hopium atm. Maybe that changes if a big project rugs. 🤷♂️
0 reply
0 recast
0 reaction
