DXdao launches first-ever KPI-based Awareness Mining campaign using Carrot.eth
A $50k KPI-based Awareness Mining campaign set during ETH Amsterdam week
During the week of Ethereum’s Devconnect week in Amsterdam, a Carrot.eth campaign focused on increasing the Twitter following of DXdao will run amongst the Ethereum community.
A $50,000 activation will be launched on Carrot.eth with the goal to create a fun, engaging experience using Carrot tokens that can generate community awareness of DXdao and its products Carrot and Swapr while seeking to achieve a marketing goal benefiting the DXdao community.
Many communities have a hard time driving behaviors or achieving targeted goals among their communities. To help solve this, DXdao built Carrot, a simple way to create and deploy community incentive campaigns, to easily align the economic interests of communities and protocols.
Launched in 2021, Carrot is an easy-to-use platform that allows projects to create community-driven programmable incentives. Carrot has been used for smarter next-generation liquidity incentives, aka Farming 2.0, and also in a partnership grant agreement where KPIs affect the grant payout.
The DXdao community is now introducing a novel use of Carrot to incentivize increased awareness of DXdao and its products called Awareness Mining.
The activation has a number of goals:
- Increase the number of people that are aware of DXdao, Carrot.eth, and Swapr.eth
- Get Carrot tokens into the hands of hundreds of new users
- Increase social media awareness of @DXdao_ using a targeted approach
- Create a fun engaging experience put on by DXdao during ETH Amsterdam week
- Test new incentive experiments using Carrot
A target list of 50 Crypto-Twitter thought leaders across the space has been curated by the DXdao community, people that DXdao’s community thinks would be interested in learning about many novel ways DXdao is forging the path forward with decentralized governance.
The goal is to get as many of these thought leaders to start following the DXdao Twitter account.
The Carrot token KPI objective is: “How many of the following 50 Twitter accounts will be following @DXdao_ by the end of April 25, 2022?”
This campaign will payout in the range of 1 to 50 follows, with no payout when the result is below 1 follow and increasing linear payout over the range with a full collateral payout when the result is 50 follows.
How will the Activation Work
Throughout the week, Carrot tokens will be distributed in-person to community participants that feel they can help achieve the objective. If you think you can help, please find a DXdao contributor.
You can see the details of the Carrot campaign here.
Carrot KPI tokens are liquid ERC20 tokens that can be transferred, bought, and sold. If you have Carrot tokens and think someone you know can help contribute to the goal, feel free to send some their way.
If you want to buy or sell Carrot tokens, there is a live Carrot token<>wxDai pool on Swapr.eth on Gnosis chain here: gDXDAOTWIT50–0425<>xDAI
By being freely transferable and having a secondary market for these Carrot tokens from the start, it will give people an opportunity to send, sell out of or buy into this campaign creating additional interesting dynamics.
Settling the Campaign
When the Carrot campaign finishes at the end of April 25, 2022, the campaign will be settled by decentralized oracle Reality.eth. The final number of targeted Twitter followers will determine the payout of the Carrot campaign.
- If 1 target account is following @DXdao_ then the Carrot tokens will be redeemable for 1,000 wxDai.
- If 25 target accounts are following @DXdao_ then the Carrot tokens will be redeemable for 25,000 wxDai.
- If all 50 target accounts are following @DXdao_ then the Carrot tokens will be redeemable for 50,000 wxDai.
Following the Campaign Live
During the week, the best place to keep an eye on the current status of the Campaign will be Carrot.eth’s Twitter account @CarrotEth. Regular updates will note when new target followers start following DXdao.
The official page on the Carrot dapp also tracks which accounts are currently following @DXdao_.
To our knowledge, an Awareness Mining Activation using a community incentive platform like Carrot.eth has never been done before. This is an experiment — but it’s a smarter experiment.
The cost to DXdao should be proportional to how successful the activation is.
If it’s super successful and all 50 accounts follow DXdao and the full payout is reached, this will likely gain a lot of attention and DXdao Twitter will have an important new audience.
If it’s semi-successful and something like half of the accounts follow DXdao, this will be somewhere in the middle.
If it’s less successful and only a small number of accounts follow DXdao, it will be disappointing but DXdao will only be paying out a small amount for this, and we’ll learn from it.
We look forward to seeing friends and meeting new people in Amsterdam.
About DXdao: DXdao is a decentralized collective that builds, owns, and governs DeFi and governance products. Reputation (REP) is voting power in DXdao, and DXD is the financial token with a claim on profit from DXdao products.
DXdao products include Omen (prediction markets), Carrot (programmable incentives), DXgov (governance framework), and Swapr (governance-enabled AMM). DXdao believes in governance and decentralization.