Recommendations are a big factor on whether or not someone uses a platform, and having a referral program will definitely incentivize people on coming to mStable. Referrals are one of the best marketing tools but of course it has some drawbacks which are described bellow.
- Having a referral program would generate some traction and free marketing of course
- It would make users feel closer to the platform as well
- Referees might go deeper into the ecosystem/community compared to someone who just found us on twitter.
- Derc was worried about sybil or other possible frauds, but those can be mitigated by whitelisting the participants as dimsome suggested, or for example, by having certain amount of MTA staked for a period of time, or both.
- Might look like a pyramid scheme if not careful when setting it up.
- Permanent quest that will slowly increase the boost.
- MTA reward proportional to the average imUSD minted - burnt in a year for example. Of course this would be more difficult to implement
- Fixed amount of MTA per successful referral.
- NFTs, swag?
- Protocols, companies projects, (easy to whitelist, hard to sybil)
- People. Prone to abuse, but wider audience.