BROADCASTS.com

b"Take the Unchained 2023 survey!\\nOver the past year, the crypto industry has seen the rise of a new trend: the adoption of points systems.\\xa0\\nLi Jin, cofounder of Variant Fund, says that while points systems have long been a staple in the Web2 domain, their integration into the crypto ecosystem could have pitfalls.\\xa0\\nShe covers how these points are currently being leveraged within crypto applications in the hopes of driving user engagement and retention, why they\\u2019re taking off now, and why they\\u2019re off-chain. She also points out that, if implemented poorly, they could engender disloyalty instead of leading to sustainable communities, and urges founders to be thoughtful about the design of these systems, especially about how points translate to economic value.\\nShow highlights:\\n\\nWhat points are in crypto and their role in rewarding user behavior\\u200b\\u200b\\n\\nExamples of popular projects that have successfully implemented points systems\\u200b\\u200b\\n\\nWhy points mechanisms are gaining traction in crypto, offering benefits of tokens without the downsides\\u200b\\u200b\\n\\nWhether points, which are currently off-chain, will eventually move on-chain, and the implications for users and founders\\u200b\\u200b\\n\\nHow points can incentivize inorganic behavior, drawing from Li Jin's experience in the Web2 sector\\u200b\\u200b\\n\\nThe potential pitfalls of points systems and how they can sometimes create more disloyalty than loyalty\\u200b\\u200b\\n\\nIdentifying which crypto projects are best suited for using points, and the importance of product-market fit\\u200b\\u200b\\n\\nWhy keeping the economic value of points ambiguous can enhance user engagement and loyalty\\u200b\\u200b\\n\\nWhether points are being used by projects to navigate around regulatory challenges\\u200b\\u200b\\n\\nFuture developments in points systems, including the potential of bringing points on-chain for a universal loyalty system\\u200b\\u200b\\n\\nThank you to our sponsors!\\n\\nArbitrum Foundation\\n\\nUniswap\\n\\nPopcorn Network\\n\\nPhemex\\n\\nGuest\\n\\n\\nLi Jin, cofounder and General Partner at Variant Fund\\n\\nPrevious appearances on Unchained:\\xa0\\n\\nWill Every Piece of Media Enter the Internet as an NFT? Variant Fund Says Yes\\n\\nThe Chopping Block: Two on Two Debate: NFT Royalty Throwdown!\\n\\n\\nLinks\\nPoints\\n\\nLi\\u2019s Newsletter: Lessons on Points Programs for Crypto Apps\\n\\n\\nLi\\u2019s comments on the topic:\\xa0\\n\\n\\nTweet 1 on points entering \\u201cthe crypto app zeitgeist\\u201d\\n\\n\\nTweet 2 on points discounting the cost of the product\\n\\n\\nTweet 3 on points and product-market-fit\\n\\n\\nTweet 4 on how points can \\u201cdistort activity\\u201d\\n\\nCoinDesk:\\xa0\\n\\n\\nCrypto Points: Off-Chain Derivatives That Everyone is Talking About\\xa0\\n\\nWeb3 Loyalty Programs Are a Trojan Horse for Good Crypto Policy\\n\\nDL News: Why DeFi protocols love to offer \\u2018points\\u2019 before airdrops\\xa0\\n\\nProjects using points\\n\\nRainbow wallet\\n\\nFriend.tech\\n\\nBlast\\n\\nBlackbirds\\n\\nMarginfi\\n\\nParcl\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices"