Huaiqian Ye’s Post

View profile for Huaiqian Ye, graphic

Builder, Songwriter & Climber

🪂 #AIRDROPS ARE TERRIBLE INCENTIVES 😢 Not sure why ppl worship #airdrops. They’re very native go-to-market ways in crypto, but aside from some short-lived hype, what’s the retention rate? (Kerman Kohli has a deep dive on this) When projects are add more and more complex rules, trying to target most potential loyal users, but this usually backfires. They end up attracting pro bounty hunters, instead of the intended audience. **If there's profit in a system/rules, someone will game the system.** The key isn’t in the rules but instead, is in the incentives. Designers need to make the incentives valuable within the ecosystem but not worth the effort for bounty hunters to use outside, just like most web2 customer loyalty programs, Starbucks, Hilton, etc.. Surely, some folks flip these perks on secondary platforms like discounted Starbucks or hotel bookings. But in an OTC, P2P market with liquidity issues, transaction costs, and trust factors, it’s not gonna be. appealing enough for pro bounty hunters.

To view or add a comment, sign in

Explore topics