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Do Kwon

@stablekwon

Oct 13, 2021

1/ How can DAOs get more users? 🧵

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Valkyrie Protocol

@valkyrie_money

· Oct 11, 2021

1/ As Valkyrie launches in two days, we’re thrilled to announce the upcoming first “Share2Earn” campaign on Valkyrie Protocol! Campaign begins: Oct. 13, 12PM UTC

medium.com/@valkyrie-prot

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was founded on the insight that while capital is mercenary, users are not

Do Kwon

@stablekwon

3/ dapps today overspend on user acquisition through liquidity farming or staking - when opportunity cost rises (rewards decrease or theres another farm elsewhere) farmers leave. This is not necessarily conducive to building a longterm loyal community.

4:20 AM · Oct 13, 2021Twitter Web App

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4/ In contrast, Web2 businesses spend marketing dollars intelligently on user acquisition & retention on clear, measurable metrics - "user activation" can be observed as performing clear tasks, and weighed against CAC and CLV.

Do Kwon

@stablekwon

Oct 13, 2021

5/ dapps should be approaching user acquisition and retention in the same way. It is significantly cheaper and more valuable to incentivise a large number of users to try out the app (buy $UST, deposit into Anchor) than giving away 9 figure farming incentives

enables precisely this - it allows DAOs to offer incentives targeting a specific combination of contract-enforced transactions. Its version of performance marketing is both decentralized (any combination of txns will do) and scientific (highly targeted)

Do Kwon

@stablekwon

Oct 13, 2021

7/ Valkyrie's usecase can extend to affiliate referrals. Its "Share to Earn" model allows referrers to earn from activation rewards of new users. Education remains a tough hurdle in crypto, and now teaching friends about new crypto apps has a viable business model.

Do Kwon

@stablekwon

Oct 13, 2021

8/ I think Valkyrie has the potential to become the "dapp activation protocol" as we head into Terra Autumn. Every Web3 protocol deserves a chance to fight for user mindshare, and with Valkyrie they now have a highly targeted/intelligent tool to be able to do so. -end-

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Do Kwon

@stablekwon

Oct 13, 2021

P.S. My tweets should not be construed as investment advice

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This all makes sense but MIR / ANC (two projects you’ve been involved in) have some of the worst token design / emissions. And while active users (me) ask the devs to fix,

@ryanology045

and team have done literally nothing in 6 months

Do Kwon

@stablekwon

Oct 13, 2021

You're partly right - think saying ANC and MIR have the "worst" emission designs is going very far, but if we were launching today we would have designed rewards a bit more intelligently I've been thinking about calculating a "loyalty score" on chain to filter bad behavior

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