Month: December 2023

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CoinDesk Podcast Network - UNCHAINED: Crypto Points Systems Are a 100x Opportunity, But Founders, Be Wary

Li Jin of Variant Fund dives into the trend of points in crypto: why projects favor points over tokens, the art of designing such systems, and the potential of on-chain points.

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Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Over the past year, the crypto industry has seen the rise of a new trend: the adoption of points systems. 

Li 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. 

She covers how these points are currently being leveraged within crypto applications in the hopes of driving user engagement and retention, why they’re taking off now, and why they’re 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.

Show highlights  | 

  • What points are in crypto and their role in rewarding user behavior​​

  • Examples of popular projects that have successfully implemented points systems​​

  • Why points mechanisms are gaining traction in crypto, offering benefits of tokens without the downsides​​

  • Whether points, that are currently off-chain, will eventually move on-chain, and the implications for users and founders​​

  • How points can incentivize inorganic behavior, drawing from Li Jin's experience in the Web2 sector​​

  • The potential pitfalls of points systems and how they can sometimes create more disloyalty than loyalty​​

  • Identifying which crypto projects are best suited for using points, and the importance of product-market fit​​

  • Why keeping the economic value of points ambiguous can enhance user engagement and loyalty​​

  • Whether points are being used by projects to navigate around regulatory challenges​​

  • Future developments in points systems, including the potential of bringing points on-chain for a universal loyalty system​​

Thank you to our sponsors!

Arbitrum Foundation  |  Uniswap  |  Popcorn Network  | Phemex


Guest |

Li Jin, cofounder and General Partner at Variant Fund

Previous appearances on Unchained: 

Will Every Piece of Media Enter the Internet as an NFT? Variant Fund Says Yes

The Chopping Block: Two on Two Debate: NFT Royalty Throwdown!


Links | 

Points:

Li’s Newsletter: Lessons on Points Programs for Crypto Apps

Li’s comments on the topic: 

Tweet 1 on points entering “the crypto app zeitgeist”

Tweet 2 on points discounting the cost of the product

Tweet 3 on points and product-market-fit

Tweet 4 on how points can “distort activity”


CoinDesk: 

Crypto Points: Off-Chain Derivatives That Everyone is Talking About 

Web3 Loyalty Programs Are a Trojan Horse for Good Crypto Policy

DL News: Why DeFi protocols love to offer ‘points’ before airdrops 

Projects using points

Rainbow wallet

Friend.tech

Blast

Blackbirds

Marginfi

Parcl

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Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. 

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Big Technology Podcast - 2023 In Review, 2024 Predictions — With Casey Newton

Casey Newton is the editor of Platformer and co-host of Hard Fork. He joins Big Technology Podcast for our annual look back and forward at the year that was and the year to come. In this episode, we both go through our standout moment from 2023, then make predictions on Gemini, GPT-5, the future of Google Search, Apple’s Vision Pro, X vs. Threads, Falling in love with bots, autonomous driving, and plenty more. Tune in for a fun lively discussion to close out 2023.  

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Stuff They Don't Want You To Know - CLASSIC: Italy’s Satanic Murders

If you're an American, you're probably familiar with the famous 'Satanic Panic' of the 80s and 90s -- but did you know Italy experienced something extremely similar? And, even crazier, did you know that Italy has a documented case of an active Satanic conspiracy? Listen in to learn more.

They don't want you to read our book.: https://static.macmillan.com/static/fib/stuff-you-should-read/

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The Commentary Magazine Podcast - Revisionist Journalism

Today we discuss how the Washington Post, New York Times, and other outlets are revising their coverage of established facts from the war in Gaza to be even more credulous toward Hamas than they've already been. And what do we make of Trump's Michigan phone call and Nikki Haley's rising poll numbers in New Hampshire? Give a listen.

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Federalist Radio Hour - Court, Christmas, and Statues

On this episode of "The Federalist Radio Hour," Common Sense Society Executive Editor Christopher Bedford and Federalist Culture Editor Emily Jashinsky break down the Colorado Supreme Court's decision to boot former President Donald Trump from the ballot, analyze the ramifications of removing the Reconciliation Monument in Arlington National Cemetery, and share their Christmas plans.

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Focus on Africa - What does the fall of Wad Madani mean for the Sudan conflict?

As the situation in Sudan continues to deteriorate, we look back at the week that's been and look ahead to the next few days. Has Sudan's conflict been forgotten and what next for the Sudanese people?

Also we remember Shakahola. The Kenyan cult that made headlines around the world.

And why is the pan African e-commerce company Jumia, exiting the continent?

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CBS News Roundup - 12/22/2023 | World News Roundup

Americans hit the roads and airports ahead of the holiday. Southern California flooding. Sorrow in the little town of Bethlehem. CBS News Correspondent Deborah Rodriguez has today's World News Roundup.

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The Intelligence from The Economist - The Intelligence: searching for the elixir of life

Scientists are making considerable progress in the race to slow the ageing process of our cells, and in turn, our bodies. But what would living for longer actually mean for the world? How government legislation and impatient consumers are forcing the advertising industry to adapt (13:19). And, the story behind a famous, 200-year-old Christmas poem (21:29). 


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