2 years ago
Results of the first week of the new reward system
A week ago we updated our token distribution system. Let's look at the first results:
• During the week, 592 users received rewards under the new system. Every day the number of participants grows by 25-40 people.
• Average rewards per user increased by 17 times, and the median by 8 times (the average user now receives 8 times more rewards).
• The maximum amount of rewards for activity received by one user in one day was 2,392 MAIN.
• Users have received rewards on 369 of the 408 boards. These boards represent 98% of the capitalization of all boards.
• Significantly increased the number of board coins purchases. Over the past 7 days, on average, 60 users made 174 coin purchase transactions per day, which allowed MAIN to rise to the first places in the DappRadar ranking.
The new reward system, as expected, affected other metrics as well.
• The number of posts reactions decreased by 45%, the number of posts and comments by 20%. The decrease was mainly due to users who voted on posts and wrote useless comments in order to raise their activity rate. At the same time, the number of posts and comments in boards with strong moderation teams and bigger capitalization, on the contrary, has grown.
• The number of users receiving referral rewards decreased by 6 times, however, the amount of referral rewards fell only by 10-20%. Thus, users who were able to invite the most active and useful members of the community to MAIN began to earn much more.
Based on the results of the first week, we see that the update of the reward system is already having a positive impact on MAIN.
• The number of users posting low-quality content and comments is declining. Users begin to consciously choose the boards in which they want to participate.
• Tokens that were previously used to reward users with no value are now being redistributed to the most valuable members, further motivating them to be healthy active.
• Competition for rewards along with tighter board rules now allow many moderators to improve the quality of content and activity on their boards, giving them new life.
• The competition for content authors is also growing. Moderators of some boards are already starting to offer their coins to the most valuable members of their communities to motivate them to be even more active and keep them in their boards.
• The number of coin purchases is growing, which allows coin holders to increase the capitalization of their assets, and moderators to earn additional tokens. This also has a positive effect on the MAIN token itself.
• Users who want to receive referral rewards are now forced to bring really valuable community members to MAIN and conduct better onboarding. This is more difficult, but the rewards for such participants are now significantly higher.
Share your impressions, how do you like the new update and what changes in MAIN you have already noticed.