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Unpopular take: MegaETH should launch a points campaign to drive activity

CN
Ignas | DeFi Research
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19 days ago
AI summarizes in 5 seconds.

Unpopular take: MegaETH should launch a points campaign to drive activity.

Points and airdrops are taboo after high FDV launches and mercenary capital leaving post-TGE.

But the market is different now.

First, MegaETH points would be THE talking point of CT because nothing else is happening onchain.

They'd have total attention monopoly.

Capital wants to flow somewhere but R/R looks bad everywhere.

Second, we learnt lessons on what works. Or more on what doesn't.

I liked Sonic's campaign for deploying dApps. Teams are struggling for funding, and shutting down.

Thus MegaETH would be a lifeline for projects that are innovative but short on capital.

I'd be careful to only incentivize non-fork, unique dApps that fit MegaETH's technical and cultural profile.

Kamino's point campaign also got it right by incentivizing only critical pools instead of broad all-TVL incentives.

Not all TVL is equal. Some pools are important for lending markets, DEXs and perps. Liquidity begets liquidity.

Without deep liquidity whales won't join. Without incentives retail doesn't care.

Third, incentives don't need to be outrageous.

During peak bull, lending and borrowing costs were high so projects competed for liquidity with high token rewards.

Now rates are down. A modest airdrop allocation would do the job. Even 2% to 5% extra yield on stables would do wonders for TVL.

The fatigue for points is understandable. But they solve the chicken and egg problem of liquidity.

And even if capital leaves post-TGE and MegaETH fails to maintain TVL, it will at least quickly validate MegaETH's and their ecosystem's PMF.

Right now it just lacks inertia.


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