While preparing the MWG brief for the Optimism roll out, it became very clear to me that PoolTogether does not have a good way to recognize old depositors, nor reward depositors for staying deposited over a certain tenure. We should certainly have one.
What I am proposing is to creating a series of POAPS that are issued to PoolTogether depositors after they remain deposited in the protocol for set tenures.
In my mind i’m thinking:
1 Day
1 Month
6 Months
1 Year
2 Years
3 Years
We can allow these wallets to mint these POAPs and add them to their wallets. I see this as driving two benefits:
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We can run campaigns and giveaways to loyal depositors…perhaps in addition to, or potentially in lieu of TWAB rewards. (This is a defence strategy as it might incentivize those that are thinking of pulling out to stay deposited longer)
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We can begin to build an email/social media list that we can begin to run campaigns to recapture people as they pull deposits- or promote referrals/any additional content strategy (we would do this by giving people the option of providing the social handles and their email addresses when they mint the POAP) (this is more of an offense strategy allowing us to re-capture new depositors and get them to refer friends)
Very curious on thoughts here?
I am not a huge fan of this idea. Here’s why
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This is more a financial play than a marketing play. So long time depositors need to be incentivized financially (such as POOL tokens or better odds to win prizes etc). Underthesea’s proposal addresses this effectively - POOL to incentivize saving
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Email/social media campaigns may work well to bring new investors into the defi and pooltogether space, but i really doubt the existing depositors would prefer this mode of campaigns. I will never associate my wallet address with a email/social media campaign. So not sure if this strategy is effective
Slightly unrelated crib on NFTs/POAPs
- I don’t want us to overdo POAP or NFT campaigns a lot more for pooltogether. We’ve done multiple campaigns in the past and they’ve been wildly successful in attracting new depositors but there’s also been a question of - so what? from all the existing NFT/POAP holders. So i will continue to be extremely sceptical of future NFT or POAP campaigns at pooltogether (Pooly NFT campaign is an exception to this - it’s pretty clear in its purpose, its benefits and setting right expectations to the minters. So i love how we are executing it)
P.S: To summarize, the idea is really thoughtful and valid and deserves a lot of discussion…i personally think the solution should be financial incentives and not marketing campaigns.
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