Defi Robot Profile picture
May 9 42 tweets 12 min read
Is this a mega thread? Or a crazy rant? I'll let you decide. But I love the #fantom network and I want to go in-depth on why I think it is so undervalued, and what I believe can be done about it.

So here's a thread/rant/whatever about #FTM

🧵/1
Before I go into why I believe Fantom is so undervalued, I want to talk about what I think Fantom, it's representatives, and the @FantomFDN do right.

First, Fantom has one of the best communities....

🧵/2
Fantom has some of the smartest, eager to help, well-spoken people who outwardly represent the chain well.

It's one of their biggest assets.

Fantom also has fantastic representatives and influencers...

🧵/3
People like @crypto_klay, @FTMAlerts, and @FtmAlphaFiendz (and several more) do an awesome job keeping people up to date on the chain's goings-on.

Also many take the time to walk people through how to use new protocols and other super helpful content.

🧵/4
Fantom also has some of the best NFT art.

Look at @riotgoools, @FantomKnights and @chimps_teen (just to name a couple).

That, coupled with the branding of the chain and protocols on it, make everything Fantom sleek and aesthetic.

🧵/5
These reasons, and more, are why I love the chain and it's ecosystem. However, I have some critiques.

I don't believe the Fantom Foundation does an excellent job on-boarding non-crypto-native "normies."

My observations...

🧵/6
First, Youtube lacks leaders explaining "what is Fantom?"

Ranking page one is mostly disparate YT educators, whose YT views on the topic combined are a bit underwhelming.

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There isn't a lot of quality content answering the question "what is Fantom?" ranking on Google either.

The top results don't get a ton of web traffic.
Observe when Googling the term, the top result is from Decrypt, which gets SOME traffic...but nothing amazing.

🧵/8
Fantom Foundation's own website doesn't rank top spot for the search term "what is Fantom," but even if it did, the site gets less traffic than Decrypt.

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The highest authority site talking about Fantom for this term is the Motley Fool, and that piece likely drove a good bit of traffic...but clearly that isn't enough.

🧵/10
One of the things Fantom does VERY WELL is #DeFi.
Yet, when searching for information about what DeFi is, you see tons of content from big sites like Investopedia or the NY Times.

None of it points to Fantom, however.

🧵/11
In fact, Investopedia links people to eToro to get involved in DeFi, and NY Times mostly just fuds talking about how dangerous and unregulated it is.

Next observation...

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FTM Alerts is by far one of the most valuable and amazing resources in the Fantom ecosystem, yet it rarely ranks highly on Youtube for terms including "Fantom."

However, even if it did, there'd still be a slight problem...

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Even the most simplified how-to content is still pretty advanced. Austin does an amazing job breaking things down, but I don't think he has the TOTAL newb in mind while making these videos.

🧵/14
Another great account is @milesdeutscher and he is also awesome at breaking down complex protocol concepts.

But even then the language and steps would be hard to follow for someone not already familiar with crypto.

🧵/15
Next observation:

There are loads of great content on "what is DeFi?" or "what is #crypto?" or "how do I get started in crypto?"

But almost all of it points to #Bitcoin or #ethereum.

#Binance has a few influencers pointing new users there as well....

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But no newbie friendly content easily found through search points people to anything related to Fantom.

Ok...now you may be thinking that's not their target audience. Maybe Fantom is going after a more sophisticated user.

Here are my 3 reasons I think that's bad.

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WHY FANTOM SHOULD BE MARKETING TO "NORMIES"

1. DeFi is a movement. It feels like we've forgotten this. Nowadays DeFi seems to only be a collection of financial instruments for ROI. But at it's core, DeFi is about taking control of our value back from banks and gov's.

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As long as DeFi remains a complex string of smart-contract automations that make earning yields easier, and nothing more, it will be as elusive and gated as TradFi opportunities.

If we want the movement to grow, regular people need to learn it's a level playing field.

🧵/19
And if we're growing the userbase of DeFi, doesn't it make more sense to route those new users directly onto the Fantom chain?

2. There's less competition for normies...

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As long as Fantom continues to only focus on winning over sophisticated users, they'll be competing with every other innovative L1.

So far this competitive landscape includes #Avalanche, #Metis, #Near, and many more.

And next year, there'll be even more.

🧵/21
Right now the vast majority of competition for the hearts and minds of normies is only from #Ethereum and #Binance.

There's room for #Fantom to dominate.

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3. Marketing to normies helps fight FUD! In traditional media channels, for every one article on new DeFi innovations, there are 20 on the latest #rugpull or how people lost money.

The media seems hell-bent on fudding DeFi, but Fantom can fight that.

🧵/23
OK, so what should Fantom be doing?
In short, marketing.

But not SuperBowl ads or Time Square billboards. That stuff gets attention but it's only effective for building brand recognition.

That isn't efficient for Fantom, here's why...

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Brand recognition only works on consumers that understand what you do.
Everybody knows that you drink soda for flavor, so Coke competing for brand recognition makes sense.

Fantom won't mean anything to most people because most people don't have a CLUE what DeFi is...

🧵/25
So what kind of marketing SHOULD Fantom be doing?
I'm happy to lay out the WHOLE strategy here.

Also, if @FantomFDN would like my resume for consideration on implementing this strategy, please send me a message.

🧵/26
For reference, in my past life I've implemented this strategy for agencies and software companies with great success.

Let's dive in.

🧵/27
First, blanket the web with "top of funnel content"
These are blog articles on topics such as:
- What is crypto?
- How do you get started in crypto?
- What is DeFi?
- How does DeFi lower the barrier of entry for regular people?
etc etc

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These should not just be FTM Foundation blogs. Someone from the foundation should sign up to be on the Forbes business council, & Entrepreneur.com as well. Then articles can be posted on those hugely reputable sites.

Also these can be guest posts on other websites.

🧵/29
These articles will serve as "pillar content" which can then be chopped up and turned into social content for:
- Facebook
- LinkedIn
- Twitter
Also, it can be turned into videos for:
- Tiktok
- Youtube
- Instagram
🧵/30
(well presented explainer videos on complex topics like 'what is blockchain' would probably do really well on Tiktok)

🧵/31
There should be a concerted effort in ranking these articles on top of search engines. The idea is to beat out the old content that only talks about ETH and make FTM the new authority on DeFi.

And none of the content promotes FTM. It just points people to the ecosystem.

🧵/32
Next would be the "lead magnets." These are pdf guides that break down into the simplest terms, step by step, how do participate in DeFi (using the Fantom ecosystem).

Guides like:
- How to earn interest in weeks instead of years

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- How to get bribed by multi-million dollar companies legally
- How to lend your money for high interest

And the guides would walk people through how to do things like participate in Liquidity pools or lending platforms on specific Fantom protocols.

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These guides would be available to anyone for the price of their email address.
They would serve as pillar content & be chopped into bite-sized components to be distributed on sites & social platforms.

This opens the door to email marketing and advanced ad targeting.

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Finally, Fantom should either designate team members, or hire new members, to act as in-house influencers.

These would be represtentatives (doxxed, with faces shown on social media rather than a nameless logo) ...

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...who make excellent and engaging social content specifically and exclusively for Fantom.

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What these efforts would achieve is, essentially, a traditional marketing funnel that would move people along an educational path directly into the ecosystem.

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People could then learn about DeFi from the ground up, experiment and/or participate fully in protocols on Fantom, and connect with Fantom representatives directly.

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It would establish Fantom as the go-to source for all things DeFi, open up the world of decentralized finance to more people, & build up both the network and the industry as a whole.

Using traditional, bootstrap web2 marketing tactics to attract a web2 audience into web3

🧵/40
So back to the original point, I believe Fantom is undervalued because it is currently swimming in a sea of sameness and needs to break out into wider adoption from a less sophisticated crowd.

And this marketing strategy could help.

Thanks for coming to my Ted Talk.

🧵/finis

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More from @RobotDefi

May 2
Looking back at some of the #rugpulls of the past that have been audited.
This is why it's important to read audits (but interestingly, some audits didn't consider the owner having so much control to be a security risk).

Let's have a look at some...

🧵/1
The first rug we'll discuss is Univ, audited by Solidity Finance.
Notice they say explicitly in the audit summary "Please ensure trust in the team prior to investing as they have substantial control in the ecosystem.
Date: February 24th, 2022."

🧵/2
That seems like a catch-all cover-your-butt statement, but hey, at least they warned everyone.

Then we have MaxAPY, audited by Rugfreecoins. Here they missed the owner's ability to change fees to much higher than 25% (which they did so no one could sell....honeypot).

🧵/3
Read 8 tweets
May 1
Top of the morning to all.
Some newer investors may not know this (I know...I've seen it mentioned in Discords) but we don't actually HAVE to interact with #smartcontracts using a website.

We can use the #blockexplorer. Here's a thread for newbs on how.

🧵/1
First...why would you do this?
Well, #crypto is full of paranoid skeptics (understandable given all the rugs) so when a site goes down and people can't access the buttons for claiming rewards it's INSTANT PANIC 🚨

🧵/2
The thing is, smart contracts are immutable, and unless the developer uses a kill function, it's still going to function, with or without a website.

And you can access those functions from the appropriate block explorer (based on the chain the contract is on).

🧵/3
Read 9 tweets
Apr 29
🚨PROTECT YO-SELF🚨 [thread]

Recently I saw someone on my feed talk about how they got their #NFTs stolen from #Metamask. They went to a malicious site (unbeknownst), and performed what they believed were standard approvals.

However, the approvals were safeTransferFrom

🧵/1
Someone else commented that #crypto investors should learn some basic Solidity functions so they can avoid mistakes like this.

For reference, the safeTransferFrom function is the function that transfers an NFT from one wallet to another.

🧵/2
Anyway, I agree so I thought I'd do a thread on common MetaMask (browser wallet) approvals and permissions.

Let's dive in.

🧵/3
Read 24 tweets
Apr 29
Ok, so I've seen a rather false narrative floating around #CT that I'd like to address/dispel really quick.

I have seen a number of tweets talking about how difficult it is to start an LLC in the US. As a result, I see a lot of praise handed to protocols that do so.

🧵/1
Not saying that a protocol that legitimizes themselves in the eyes of the US tax authorities is a bad thing...just that if anyone claims it is a difficult/arduous task to start an LLC, this is NOT TRUE.

I can quickly walk you through the steps:

🧵/2
Step 1:
Use a registered agent to start your LLC.
If your business is digital, you don't have to create the LLC in your home state. You can use a representative agent. My personal favorite is wyomingagents.com since WY has favorable biz taxes.

🧵/3
Read 10 tweets
Apr 28
Recently I shared how I spent days developing a #cryptotrading strategy that failed. It was not the first one either.

But many asked for me to explain what I did and why it failed.

So here’s some insight into how I develop my #degen strategies.

🧵/1
If threads aren’t your thing, I actually wrote it out into a Medium article:

medium.com/@Defi_Robot/de…

But here’s the Cliff’s notes

🧵/2
First, it’s important to understand where I come from.

In a nutshell, I’m a marketer with a focus on behavioral economics.

Meaning, I recognize humans act in predictable ways. These behaviors can be identified in price charts.

🧵/3
Read 14 tweets
Apr 28
This was a great post from @AssEfectivo but I’d like to dive a little deeper (since behavioral economics is my thing)

So here’s a thread on investor cognitive biases (based on this infographic)

🧵/1
“I should’ve seen it coming” - hindsight bias: foreseeability impression

The overestimation of our human ability to predict events.

Also manifests as “I knew it all along”

In truth…no you didn’t. No one did.

🧵/2
“I have a proven system for picking winning managers” - overconfidence bias

The overestimation of one’s ability.

No. You aren’t that good. Sorry not sorry.

🧵/3
Read 12 tweets

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