Read on Twitter
0/ Adding a token to your project won't magically create community.
But it will incentivize engagement from different types of users (e.g., true believers, fair weather users, speculators, token farmers, token vultures).
Balance is key.
But it will incentivize engagement from different types of users (e.g., true believers, fair weather users, speculators, token farmers, token vultures).
Balance is key.
1/ True believers
These users are your cultural power plant.
They're LPs, 24/7 promoters, power users and will engage with your whole app and other users.
More true believers = stronger community.
These users are your cultural power plant.
They're LPs, 24/7 promoters, power users and will engage with your whole app and other users.
More true believers = stronger community.
2/ Fair weather users
Usually the largest sub-set of users on a percentage basis.
Casual users.
Influenced heavily by popular perception, but will stick around if core app functionality/game play is solid.
Usually the largest sub-set of users on a percentage basis.
Casual users.
Influenced heavily by popular perception, but will stick around if core app functionality/game play is solid.
3/ Speculators
Profit-driven.
Will engage almost exclusively with the token(s) outside of your app, avoiding interaction with the core product and other users.
Speculators are important (because $$$) but can suffocate culture if they overrun your project.
Profit-driven.
Will engage almost exclusively with the token(s) outside of your app, avoiding interaction with the core product and other users.
Speculators are important (because $$$) but can suffocate culture if they overrun your project.
4/ Token farmers
Highly engaged users, but focused primarily on the tokenized aspect of your app.
Long-term oriented.
Result of robust tokenomics design.
More token farmers = grow benefit for all users.
e.g., $SLP farmers in @AxieInfinity
Highly engaged users, but focused primarily on the tokenized aspect of your app.
Long-term oriented.
Result of robust tokenomics design.
More token farmers = grow benefit for all users.
e.g., $SLP farmers in @AxieInfinity
5/ Token vultures
Engagement mirrors token farmers.
Focused on short-term profits.
Result of broken tokenomic incentive design.
More token vultures = siphon benefits away from other users.
Too many token vultures will pollute and kill your project.
e.g., $RARI wash traders
Engagement mirrors token farmers.
Focused on short-term profits.
Result of broken tokenomic incentive design.
More token vultures = siphon benefits away from other users.
Too many token vultures will pollute and kill your project.
e.g., $RARI wash traders
