1/12 #Airdrops are among the most effective #web3 growth strategies for new projects.
If you provide new members ownership, a tribe, vision, and status, they'll help you grow the project.
A summary of How to Make Airdrops That Go Viral by @CDTEliot of @CoinviseCo for @ScribeDAO
If you provide new members ownership, a tribe, vision, and status, they'll help you grow the project.
A summary of How to Make Airdrops That Go Viral by @CDTEliot of @CoinviseCo for @ScribeDAO
2/12 An airdrop is a token distribution to multiple crypto wallet addresses.
There are two types:
- Raising Awareness: Early stage, when a community launches and wants to bring on new members.
- Exit to the Community: Later stage, when a community wants to decentralize power.
There are two types:
- Raising Awareness: Early stage, when a community launches and wants to bring on new members.
- Exit to the Community: Later stage, when a community wants to decentralize power.
3/12 In web3, the growth funnel looks like:
- Awareness: Hear about the project
- Acquisition: Join the Discord to learn more
- Activation: Become a contributor
- Retention: Continue contributing
- Referral: Evangelize the project
- Revenue: Become an owner
- Awareness: Hear about the project
- Acquisition: Join the Discord to learn more
- Activation: Become a contributor
- Retention: Continue contributing
- Referral: Evangelize the project
- Revenue: Become an owner
4/12 Airdrops drive awareness and acquisition.
The scale is unprecedented. It's the fastest way to rally people to your cause.
The $SOS airdrop reached 213K users, convincing 57K to join their Discord.
2.1K became active contributors to help the project grow.
The scale is unprecedented. It's the fastest way to rally people to your cause.
The $SOS airdrop reached 213K users, convincing 57K to join their Discord.
2.1K became active contributors to help the project grow.
5/12 Incentivizing users to perform desired actions is not new.
For web2, it was "Do X action, Get Y $$"
Getting $25 for referring a friend is nice, but only incentivizes a single action.
For web3, it's "You're now a shareholder, take action, share in our success."
For web2, it was "Do X action, Get Y $$"
Getting $25 for referring a friend is nice, but only incentivizes a single action.
For web3, it's "You're now a shareholder, take action, share in our success."
6/12 Activating 2.1K users in a matter of days would be huge for any product.
Yet active contributors are even more meaningful than web2 activations.
These contributors are stakeholders.
That's 2.1K believers who are financially incentivized to help your project grow.
Yet active contributors are even more meaningful than web2 activations.
These contributors are stakeholders.
That's 2.1K believers who are financially incentivized to help your project grow.
7/12 Early web2 app evangelizers and creators didn't share in the upside.
Making early users owners incentivizes people to work on promising new projects.
Distributing tokens this way also plays a major role in making projects more decentralized and autonomous.
Making early users owners incentivizes people to work on promising new projects.
Distributing tokens this way also plays a major role in making projects more decentralized and autonomous.
8/12 Airdrops come with both power and responsibility.
Leaders are airdropping voting powers to their community.
It's not without its pitfalls.
Weak projects may see new holders dump their tokens and leave as soon as they receive them.
Leaders are airdropping voting powers to their community.
It's not without its pitfalls.
Weak projects may see new holders dump their tokens and leave as soon as they receive them.
9/12 Building a strong project requires having a solid roadmap, product, and core team.
Airdrops should only be done when these are in place.
While decentralization is the ultimate goal, centralized power is necessary to jump start initiatives & onboard new members.
Airdrops should only be done when these are in place.
While decentralization is the ultimate goal, centralized power is necessary to jump start initiatives & onboard new members.
10/12 To create a well-designed airdrop:
- Write a solid white paper: Explain the token's purpose & future
- Gather community data: Get data on who helped most on Discord, Twitter, etc to reward early believers
- Ensure liquidity: Get a pool of staked assets backing your coin
- Write a solid white paper: Explain the token's purpose & future
- Gather community data: Get data on who helped most on Discord, Twitter, etc to reward early believers
- Ensure liquidity: Get a pool of staked assets backing your coin
11/12 That's all for today!
If you want more article breakdowns just like this...
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If you want more article breakdowns just like this...
Follow me (@jkey_eth) to get a daily #web3 thread in your feed 🙂
12/12 TLDR:
Airdrops are a great tool for capturing attention.
But the real work happens right after.
Can the DAO transform this attention into active believers and project contributors?
article: bit.ly/3rxxkB4
Airdrops are a great tool for capturing attention.
But the real work happens right after.
Can the DAO transform this attention into active believers and project contributors?
article: bit.ly/3rxxkB4
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