In the real world, having a good credit score comes with lots of benefits. Lower interest rates on big ticket loans, deposit waiver, access to premium cards & more.
Which brought me to the question, how do we drive adoption of ARCx credit score in the defi-verse. Furthermore-
How do we ensure product stickiness for Defi passport? (addiction)
What will the degens miss out on by not owning a defi passport? (fomo)
It is important that we drive utility for the credit score by combining it with benefits. By using positive reinforcement habits to drive utility for passport, we can supercharge it. How? We reward users who maintain a good credit score with additional benefits.
In layman terms, we reward good behaviour.
Exclusive access to new token sales for maintaining a good airdrop score (or) credit score.
Benefits for the user
Early access to new token sales.
They are rewarded for good behaviour.
Benefits for the new protocol
They now have access to the most trusted users in the space, thus leaving the bad actors out whilst growing their community organically.
Token sales generate massive hype & drive massive acquisition.
How it benefits ARCx?
Revenue- Arcx can generate two additional revenue streams.
A. Listing fees
B. New token allocations- Which will help ARCx further diversify their treasury.
Product stickiness- By combining benefits with exclusivity, they will always have a reason to come back to ARCx.
Hype driven Growth- New token sales are one of the biggest growth engines in the cryptosphere.
If a new user wants to particpate in the ICO, the user will have to buy ARCx & stake it to receive a Defi passport. We can amplify the process by offering them additional tokens if they stake for a longer duration. Longer they stake, greater the allocation. This will drive massive acquisition for ARCx as well as create buy pressure.
Finding high quality projects early on & getting them to agree to work with ARCx.
We will have to offer more additional benefits for the platform over time, ex- access to top VCs, mentorship or more.
How can we do it?
Kerman can tap into his personal network for more contacts.
Any DAO member who brings in a successful lead, can be rewarded with a bounty. Thus, creating an autonomous structure within the DAO.
We can setup a small product working group within the DAO for the project.
How do we improve upon this product in the near future?
We can partner with new protocols, issue exclusive defi passport NFTs with custom benefits on the partner platform. This will help drive adoption for our partner protocols, whilst building good relationships.
Example- 5% more leverage on Alpha homora vault with the Wolf defi passport.
A. Total number of new passports issued/time
B. Total number of Arcx staked in the quarter
A. Number of impression of social platforms leading upto each token sale.
By combining reputation with exclusivity, we have a chance to build something unique. Would love to hear everyone’s thoughts on this.