@davidphelps
i got a bunch of dms last week asking *why* we suddenly had a contest self-generate $1.35 *million* dollars to voters.
the fact is, i don't know! i was hoping for 100k, and it went 35x that đŸ˜³
but i have some guesses, with some lessons for all of us building apps:
1. the *right* chain. the avalanche team was one of the best i've ever worked with.
2. iteration. it wasn't until 5 weeks ago that we launched vote-and-earn. it's a gamechanger.
3. the *right* user. the contest generated a liquidity flywheel. the more players bought in, the more money they could earn—leading to accelerating buys from whales.
4. narrative. avalanche ran a bracket tournament, so:
>smaller projects could still have a real chance of winning early rounds
> voters on winners would have more money to support their teams in subsequent rounds
> each round got more dramatic with higher and higher stakes
what these all come down to is one thing: *storytelling.*
people want drama, and they want the stakes to rise over time.
0 reply
1 recast
6 reactions