[Closed] MTA campaign on RabbitHole to bring in more users & token holders

Hey all! My name is Brian Flynn, I’m one of the co-founders of RabbitHole.

We’re gearing up to launch our latest feature as part of our platform called Earn which lets any network distribute tokens to users for interacting with their product through on-chain verifiable actions.

As part of this rollout, we’ve been impressed with the engaged MTA community and are looking to contribute in a meaningful way with a proposed RabbitHole campaign.

We believe that RabbitHole can help mStable acquire new users by growing the market cap of mAssets and usage of MTA through an introduction to key products/concepts and the governance mechanism. We can do this by building a track for users to learn about the different functions of mStable (Mint, Swap, Save, Earn) and how critical pieces of the protocol work.

Think of RabbitHole as top of the growth funnel for the mStable community. We can help educate users about each feature and reward them with a small amount of $MTA (or even mAssets) for interacting with each of the different contracts. This will ensure there are more individual participants in the community as opposed to just whales/speculators.

Here’s what it takes to run a campaign on RabbitHole:

  1. RabbitHole uses the mStable subgraph to setup the challenges for users to complete (in this case it could be the Mint, Swap, Save, or Earn products)
  2. mStable community decides how many users they want obtaining the reward mStable community decides how much $MTA they want to distribute to users (can be any number)
  3. RabbitHole takes 25% of the total tokens distributed as an incentive to get users through the platform and become a long-term participant in mStable’s governance and the community. We are to abide by a lockup on these tokens to stay further aligned on the protocol and contribute to the community in the future.

We suggest that a good first pilot/test campaign could be minting mUSD and then contribute it to SAVE. We could run this as soon as mid-December.

The goal of this first pilot campaign is to get at a few hundred more MTA holders that have interacted with the mStable contracts in some capacity.

Looking forward to hearing the community’s thoughts on doing this campaign and happy to answer any questions!

4 Likes

Hi there,

Just had a look through the site, and it looks nice. Reminds me of the Coinbase campaigns for raising awareness to the projects.

I was able to complete those Uniswap and Compound examples without having done anything at all, but click on the task. Is this expected behaviour to see how it would work “live”, or how exactly do you ensure that the people have done what was asked of them?

Would be nice to see an actually working example from a different campaign and test out the interaction first.

Also, how do you propose the 25% incentivization? Is this based on actual numbers that you calculated in a business plan, do case by case, or is this just a number to start negotiating with and see where it goes?

Just as a side idea, involving something like a POAP in this could also be cool, to show that one can handle the mStable platform through RabbitHole, or multiple protocols that have been completed.

Either way, wishing you a lot of success in your project, and looking forward to hearing some more :innocent:

4 Likes

Thanks for the kind words! We have a campaign running next week which can give you a feel of how it would work. We plan on running multiple campaigns for the same project, similar to how any company can run multiple Facebook ads.

The 25% is per campaign, so our recommendation would be to start with a small amount of rewards as a pilot/test campaign and scale up if it’s successful. Ie. $5K allocated to the first campaign, and after the rewards are redeemed, the community can allocate a new traunch of tokens.

Should be easy to include POAPs or NFTs as part of the campaign as well if the community wants that!

Love the idea about multiple projects all coming together as one “quest” to understand mStable.

I do think that starting small makes sense, so I’d also propose a smaller investment with a smaller return for RabbitHole, until the usefulness and metrics have been proven to show a good return for the project, and then increase the rewards as the campaign goes on to the finish line, rather than a constant 25% for you, regardless of outcomes or results.

This will incentivize you to deliver good results throughout, and also make it more feasible to create something long-term for both parties.

I’d probably say 12.5% is a good starting point, ramping up to 25% towards the end of the campaign, all to be streamed to your wallet based on total usage of the funds allocated instead of a lump payment upfront.

This way, we ensure that only actual conversions on a job well done will reward you with tokens, which I think will benefit everyone involved, as only people making it to the end of the quest are most likely to stick, so why reward the ones at the beginning equally?

This should also incentivize to create the quest in a way that makes the user want to play it through until the end for the greatest rewards for them (and you).

Just some thoughts around this that came to me last night :))

Happy Friday, and have a great weekend!

3 Likes

Also important to note that the way our infrastructure works, there is a fixed campaign date with a fixed amount of tokens distributed. (Ie. 2 weeks with 10,000 tokens distributed to 1,000 users getting 10 each for doing the tasks.)

Instead of doing 12.5%, how about we do 2% of the total amount of tokens distributed to the users of the campaign or $2K - whichever is higher? This model might also make sense if we do larger campaigns in the future for mStable.

Just wanted to follow up to see if anyone has any other concerns before we move this to a proposal.

We just launched our Matcha campaign which can give a good sense of how the mStable campaign might work. Let me know if there’s any additional thoughts!

1 Like
Do you support creating an educational campaign for mStable/MTA hosted by RabbitHole?
  • Yes
  • No

0 voters

Hi Brian,

Thanks for following up here. I am having a play with the rabbithole app, and BrightID is the only bottleneck here to full participation that I’ve encountered. How are you guys thinking about making it easier for users to verify themselves whilst maintaining the Sybil resistance? This may be a question for BrightID but it seems to be essential for the app’s flow so would like to hear your thoughts.

I think this is a great idea and worth exploring. mStable will be in very good company, with AAVE, 0x, Uniswap and Compound being other participants. Thanks for bringing this to us @brian_rabbithole!

1 Like

Totally understad that there is a lot of friction with BrightID, and we’re taking in the feedback from the campaign and optimizing the flow to make it a bit smoother. As we run more campaigns, we’ll have even more BrightID verified users who are already eligible for rewards.

There are a few ways we can go about smoothing the Sybil issue:

  1. Pre-emptively verifying core mStable community members - Ideally if we were to run a mStable campaign with BrightID, we could have a large portion of the mStable community already verified in a BrightID group, so it would be easy to onboard new users to the community. I’d be more than happy to join the next community call along with some of the BrightID folks to get the core community verified faster, who can then go on to verify others.

  2. Having a multiplier of rewards for users who are BrightID verified - We could offer 2-3x multiplier for users who are BrightID verified, so users who do not want to go through the flow can still get the rewards. Ideally the rewards for non-BrightID verified users are less than the gas costs, so there would still be some sybil protection from that alone.

  3. Other Sybil Solutions - Gitcoin uses SMS and other forms of identification to form a trust score, and that gives a multiplier on the amount users grant to projects. We are thinking about building something similar in, but we won’t have this ready for a few months because of our limited resources.

While BrightID might have a lot of friction, we’ve found that once you are verified and in the door it is quite a pleasant experience.

Let me know what you think!

1 Like

This item was voted on and approved by MTA Governors by a margin of 99.28% in favour, and 0.72% against.

https://snapshot.page/#/mstable/proposal/QmbbbeuucJxtHWgLQwimF77yfCnfPJ8c1neRGFRZvZ11kZ