Spread a culture, not just a product.

Written by: Kevin, Co-founder of ZKM and Metis

Translated by: Luffy, Foresight News

Points and airdrops are dead, or more accurately, they can no longer achieve the expected effects. It is time to rethink the goals of point airdrops and how to make them more effective.

Why have points and airdrops failed?

Initially, points and airdrops were designed to build communities and reward genuine contributors. However, they have now become a standard checkbox that is ticked in almost every project launch plan. As a result, the goals of "community building" and "rewarding contributors" have not been achieved; instead, professional "airdrop hunters" have flooded in, exploiting these systems for personal gain. Projects invest resources into airdrops, only to face FUD and token dumping. This is a lose-lose situation, benefiting neither the project nor the genuine community.

The deeper reasons for the current lose-lose situation are as follows:

• Delayed TGE and devalued points: Many projects initially offer points with the promise of future token redemption. However, frequent TGE delays frustrate users, leading to point accumulation exceeding initial predictions, thus diluting their value. If the future value of these points is unclear, they become nothing more than unsecured IOUs, weakening community engagement.
• Exchange listing challenges: Points are often promoted as a precursor to tokens being listed on major exchanges. However, as listings become increasingly difficult to guarantee, community trust in these systems gradually diminishes, weakening user interest and participation.
• Airdrop mining dilutes rewards: Airdrops were once a way to reward early loyal users, but now they are exploited by airdrop witches using multiple wallets solely for rewards. While these activities may temporarily boost on-chain metrics, they ultimately dilute the rewards for genuine users, deviating from the original intent of building a loyal community.
• Controversial analytical tools: Some projects use on-chain analysis to combat airdrop mining, but these measures may misidentify real users. Coupled with uncontrolled airdrop farming behavior, this can ultimately damage the project's reputation, creating an environment where loyal users feel neglected while speculators benefit.
• Conflicts of interest: Situations of internal exploitation (team members or insiders using insider information for gain) create distrust within the community and undermine the project's credibility.

How to improve the points and airdrop system?

What is the true purpose of points and airdrops? I believe their core goal should be to unite the community around a shared vision, rather than fostering a PvP culture.

1. Spread a culture, not just a product

Projects should have clear cultural attributes that resonate with the community. Establishing this unique cultural connection is key, especially in a competitive space where users have multiple choices. Culture can become a differentiating factor that attracts genuine participation.

2. Set a unified goal for the community

Coordinate the community around a clear overarching goal, making it a shared mission so that community members see their efforts contributing to a common objective.

3. Link project milestones with points and airdrops

Connect rewards to key project milestones, so that as the project develops, the community's rewards will also increase. This structure allows users to participate in the project's success and fosters a sense of shared progress.

4. Create a tiered reward system

Design a reward structure that offers short-term incentives (i.e., raffles), mid-term rewards (i.e., profit sharing), and long-term loyalty incentives (i.e., voting rights and reputation). This approach provides users with reasons for ongoing participation, allowing them to feel the rewards of early and continued engagement.

By shifting the focus from tokens to genuine community coordination, projects can not only cultivate users but also nurture advocates. After all, the most successful communities are built on shared culture, goals, and trust. Users gain sustainable rewards, projects have loyal communities, and ultimately, a win-win situation is achieved.

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