With the cryptosphere rife with activity, several Web3 projects have gained traction. As a consequence, despite the utility and potential of these projects, visibility and sustenance is becoming a challenge. One of the major issues that Web3 projects face is stunted community growth and lack of awareness, brought on by multiple factors.
Although there are avenues to adopt under-the-hood tactics resulting in a spurt of numbers for the project, in reality nothing beats organic growth spurred on by genuine individuals who are invested in the project and its goals.
This is where xHashtag comes into the picture. As a community bootstrapping tool that accelerates project growth, xHashtag offers Web3 projects a platform to actively curate and build a #community that strongly believes in the project, and is willing to do whatever tasks the project outlines. In exchange for their loyalty, the project rewards the community with a share of its $tokens, thus making it a win-win proposition for everyone involved.
In this 2-part series, we take you through how xHashtag can be leveraged to drive community and token value. First, let us take a look at the concept of communities.
#Communities form an integral part of the xHashtag platform. Projects can leverage #communities to build and interact with a group of talented individuals who believe in the project and are also willing to stake a fixed amount of the project’s $tokens for more incentives. This enables projects to run exclusive #community-only campaigns and additional incentives for users who have shown support to the project by staking its $tokens.
Trustworthy communities by design
The process of staking $tokens not only shows commitment from the user, but also guarantees that each member who joins their #community is real. $tokens are immutable, traceable and publicly verifiable on the blockchain, thus ensuring that every user staking $tokens is committed to the project and its growth.
Creating a Campaign
Any project that requires a boost in its marketing or user adoption in terms of community growth or project token value can utilize the power of xHashtag’s Liquid Micro Teams through a customized campaign suited to their needs.
- Set Campaign Objectives
The first step for a campaign creator is to identify and set an objective for their campaign. This outlines the tasks it expects the #community or xTaggers to perform. This could be an off-chain task something as simple as sharing the project’s content on social media or an on-chain task such as a transaction on the project’s dApp. The possibilities are virtually endless and campaign creators can customize campaign details to a micro-level.
- Set Eligibility Criteria
The campaign creator can set the eligibility criteria, as to which user on the xHashtag platform is allowed to perform a task. Some of the criteria which can be taken into consideration include previous task performance, user demographics, KYC status, project token staking status etc. The creator can choose to combine two or more of these criteria if required.
Depending on the outcome they wish to achieve out of the campaign, the campaign creators can define the complexity of the eligibility criteria. Having more restrictions and filters in place would result in a smaller yet focused group of individuals performing the tasks, whereas a slightly less restrictive filter would result in a larger base of participants, thus translating to a wider reach for the campaign.
In the next article, we’ll be telling you how your campaign can be easily funded. Stay tuned!
Building on Solana, xHashtag is a Play2Earn DAO for Future Of Work where users can earn crypto by completing simple on-chain / off-chain tasks.
Projects can leverage community talent to accelerate community growth by rewarding valuable actions in their own $tokens with optional vesting to balance sell pressure. From a user’s perspective, xHashtag offers a way to earn rewards for completing tasks, while for the project, it presents a way to effectively achieve a wide token distribution with high ROI by building a community that constantly propels project’s on-chain and off-chain activities