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<!-- End Google Tag Manager (noscript) -->If we as a space are honest with ourselves - blockchain and tokenization, for all the buzzwords and lofty promises constantly thrown around, are ultimately really only beneficial for very specific use-cases.
One such use-case would be that of user-acquisition.
With the ability to directly incentivize (in a very granular, personalised, and onchain-behaviour-driven fashion), then proportionately reward, users who hold particular tokens and/or NFTs associated with any given project, founders can now acquire, curate, and maintain communities like never before vis-a-vis blockchain technology and tokenization.
At MON Protocol, this is something we have identified since day 1.
Hence, our entire business ethos has been, and will continue to be, built around this particular unique selling point (USP) of web3.
This is Chapter 1 of the MON Protocol story.
With the above in mind - this is why we have constructed MON Protocol’s entire being, in all the glory of its multiple sum of parts, around one giant and seamless user-acquisition funnel.
For now, we have chosen for this funnel to sit within the specific vertical of web3 gaming, so that it can bidirectionally service:
If we have learned anything from the Video Game Crash of 1983, it would be that fragmentation and oversaturation are the bane of any industry.
We at MON Protocol believe that a powerful user-acquisition funnel with dominant market share (a.k.a. a Publisher), is key to empowering the web3 gaming industry to survive long enough to discover real product-market fit.
A strong user-acquisition funnel that connects the 2 most essential stakeholders within the web3 gaming vertical will ensure that it will be less fragmented, and that oversaturation can be curated away insofar as it has to be.
That is why Chapter 1 of the MON Protocol story will be all about the user-acquisition funnel, for that has been our day-1 heavy focus ever since we took over.
Of course, we have also been extensively researching into, and exploring, other verticals within web3 besides gaming that will require such a funnel, but let’s save that for future Chapters.
Whilst web3 technologies are great for a seamless end-to-end acquisition funnel due to how they allow for seemingly intuitive action <> reward incentive structures, it is still ultimately limited by how we design and utilise it.
The problem with most user-acquisition funnels in web3 right now is that they are designed as very flat and horizontally-wide edifices. A symptom of this would be the progressive decline of the airdrop meta that we have seen come to dominate this current cycle.
If we continue to conceive of the user-acquisition funnel as flat, it will be impossible to optimise for the accurate incentivization of the right (onchain) actions by the right people, and by extension - to then reward said actions and people in a fair and truly proportionate manner.
For example, let's say the protocol in question is one that has capital providers as their core user-group (ie. a Liquid-Staking Protocol (LSP) wherein TVL is most important).
However, they are also relatively unknown, and so would want to solve the cold-start problem by getting people to talk about them on social media platforms. This, in turn, will attract more capital providers in a healthy cycle.
Would it be fair to then, to disburse rewards (airdrop) in a 1:1 ratio between capital providers and active social media interactors? In a flat user-acquisition funnel/model, a deadend is hit, wherein any solution will be a lose-lose and a ruthless zero-sum game for the protocol.
This is why MON Protocol conceives of our user-funnel as multi-layered, consisting of multiple vertical layers stacked on top of each other, highly composable and interoperable.
At the top of the funnel aka the Catch-All Layer, we want(ed) to capture as many people as possible. This is done via our first wave of marketing efforts, as well as the sale of our NFTs back when we first took over.
The next level of this funnel, the Outer Core, would then be to filter out for high-quality key users that we absolutely need for our core business offering. While this can be done via multiple ways (ie. if it is a LST product, they should be heavily rewarding substantive capital providers via airdrops at this layer).
For MON, we opted to heavily reward (via airdrops) our core users by prioritising the weightage of number of Pixelmon NFTs held (and from when), rarity, and Relics attached.
In essence, users who are funnelled into this second layer should be rewarded the most with regard to the airdrop, as these are the users that protocols will need the most for their core business offerings/models.
Now, we move into the third, and in my opinion - the most important - level, the Inner Core, of the funnel.
This is the layer where protocols have to filter, then incentivize and reward, their users to an even more granular level to ensure that their core users will be actuated to continually provide value to the protocol.
For example, and in the case of the hypothetical LSP protocol I raised above, this layer should be to filter out for capital providers who are ALSO active on socials. In other words, users that fall within this group should be the only ones that get to move on from the second layer of the funnel to the third.
As these people should already be part of those rewarded heavily in the second layer via airdrops for providing value to the project's core business offering, the reward should either be a smaller weightage of the airdrop that proportionate to their social efforts (but never weighed on par with what they provided in the second layer), or a well-calculated multiplier of said airdrop (that will be factored in at the second layer).
In the case of MON Protocol, we wanted to go with a non-airdrop (but not necessarily non-monetary) reward.
This is where the crown jewel of our funnel, the MON Protocol Launchpool, comes into play
For some quick context: the mechanics of the MON Protocol Launchpool are incredibly simple: buy $MON, stake $MON, earn points, then spend these points to receive launchpool airdrops of our partner projects’ tokens, thereby gaining access to their ecosystems. All while you get to hold onto your original $MON in an extremely capital efficient manner.
In our minds, a Launchpool is the best product that we can build for the third layer of our funnel as it fulfils 3 main needs for MON Protocol to continue to thrive:
In this case, and with the help of the Launchpool, MON Protocol will achieve 3 main goals:
Whilst all the above do sound very theoretical, we have actually already put most of the aforementioned points into practice, with many more still to come.
As we speak, our loyal and active users (those who got through to the third layer of our funnel) are reaping the benefits of the Launchpool.
In fact, over $3.3 million USD worth of tokens have already been distributed to MON stakers in the last two months since our Launchpool started in June.
Our partner projects are far from shoddy too; they are all absolutely top-tier. But don’t take our word for it, let’s do a quick rundown of the partner tokens already distributed:
At MON Protocol, we don’t celebrate our stories before we put theory into actual practice. We firmly believe in putting our actions (products) where our mouths (theory) are.
Therefore, we purposefully waited for 3 successful Launchpool events first before releasing Chapter 1 of our story.
We hope it was all very worth it for you. If not, it's never too late to embark on this journey with us.
