The case for a social token in your DeFi community.
There is a person lurking in your Discord. In fact, lurking is the wrong word. This person doesn’t lurk lurk; they hover and dabble. They read most messages, they reply when appropriate and relevant, and they wait patiently for good opportunities.
They’re not as vocal as the stans who debate day and night about the best alt coin, the worst DEX, or the shit coin they once bought.
They’re not as absent as the “join once, buy once, vanish for 3 years, don’t migrate to v2” people.
They’re not as foreboding as the whales that truly command the market. But they ARE as valuable (collectively).
This person is the Poor Crypto Enthusiast. And they matter more than you think.
The Poor Crypto Enthusiast (PCE) is a person that is excited about your Dapp or project. They understand what you’re doing, they want to support you, and they also want to be an early adopter. They are probably a 7 or 8 out of 10 on the convert scale.
The PCE is new-ish to crypto. They maybe bought their first ETH in late 2017 at $1100, but have since bought at $225, $175, and even $105. They don’t have an enormous portfolio (maybe a swordfish size, when next to a whale), and thus, they can’t spend liberally on every project.
Their buying power is low-to-moderate, at best.
They can’t grab a flash loan to win a draw.
They can’t buy half of the rare mints and re-sell them later.
They can’t make $800/day in Yield Farming.
So what can they do? They can like. They can comment. They can write, record, and share. They can provide suggestions, help with your community management, and even translate announcements. They can guide, pump, and chat when called upon.
And that’s why you need a social community token. To leverage the PCEs, and slowly help them collect some form of equity (=power) in your ecosystem.
Help them help you.
Show them that you recognize their stoke level, and that you want more of it. And also show that your community isn’t just about rewarding the big whales or the big hype — its also about giving the little guy a reason to stay fresh.
Social tokens are just starting to gain steam. Look at companies like Roll for example, which allows anyone to mint their own token, or programs like Tip.cc that let you tip people in tokens on Discord and Telegram.
There are many PCEs out there. And if we want DeFi to truly be for everyone, we need to make sure that everyone can truly participate outside of a long term hodl.
So don’t ignore the PCEs. Find them. Identify them. Show up for them.
You won’t regret it.