Will users need to meet any special requirements, such as being a brand new verified user on Binance, to qualify, or will the opportunity to earn be open to all verified users regardless of how long they have been a Binance user?
tl;dr - I’m excited to test opportunities like this, but we have bigger picture priorities to align on first.
This is very intriguing, and thanks for posting @Sienna. For transparency, my understanding is you work for Binance, correct?
Thanks, also, for answering initial questions in discord #marketing-guild. I think it would be helpful if we post some of that here for anyone who’s considering but may not have seen that.
While this type of educational resource opportunity is very exciting and I support exploring them, I advocate first having a discussion on DAO- and Marketing Guild-funded major efforts - based on the Threshold go-to-market strategy and plan, as well as alignment we need on the evolving roles of Keep & NuCypher teams, the DAO and guilds and the wider community.
Once we have a budget for this type of activity (perhaps we call it Education / Outreach), we should evaluate a variety of options/avenues. Again, I’m eager to test out Learn & Earn opportunities - but first I’d like us to evaluate what’s out there. We know NuCypher did one on Coinbase, but I didn’t see a response to discord questions about how it was structured, goals or evaluation. We probably also have people in the community who have deployed these - and certainly have people who participated in them (I’ve done a bunch of them on Coinbase and found them very basic and lacking in all but the most basic concepts - but it’s been a while since I did one so perhaps they’ve advanced).
It won’t be a disaster if this is adopted in current form and we rush in, but note that the $150k price is 3x the requested initial discretionary fund for Marketing Guild (I don’t recall ATM what people have proposed for bounty/activities budget, but I’ve been calling for discussion first on the roles & responsibilities, the areas Marketing Guild will focus on and the types of activities before allocating that budget and would vote against a major budget allocation before we have those aligned - or at least outlined and various positions on it articulated for all to consider).
That said, if this is an introductory offer that will no longer be available in a few weeks, let’s discuss - but let’s please not invest our first $150k of marketing without a meeting to address the points above.
I would like to echo this sentiment and in my opinion it is in everyone’s best interest to vote no on this proposal at this time.
I am personally very interested in a Binance Learn & Earn campaign but my opinion is we are rushing this unnecessarily. I believe it is critical to compare our options, have outstanding questions answered and be more aligned with our marketing efforts than we currently are. I would like to encourage us to wait to fund this until we have had an opportunity to do our due diligence.
I also want to remind everyone to be thoughtful of how we spend the Threshold DAO’s resources. We are all a little more eager to spend this money than we would be if it were our own money. My reminder to you is the DAO’s money is ultimately “our” money, so let’s do as much research as we would if you were personally footing the bill. I know $150k is not a huge budget but if we fund something educational that doesn’t yield good results it could be much more difficult to get things funded in the future.
Yes, only new users who register their Binance accounts and complete Identity Verification on the activity pop-up are eligible for the “Learn & Earn” rewards. So it’s a great campaign to acquire new users!
As Learn & Earn aims at educating new users, so we won’t set criteria on behavior basis. If the project team would like to set some criteria, we can collect the feedbacks and see how can we implement in the future.
Why only new users? We would want all Binance users and not a subset. Is there an option for the Threshold Learn & Earn to apply to all new and existing users?
Making this available for ALL users to earn, not just new users. Someone stated the other day, “It seems like we’re paying for Binance’s user acquisition cost”, and I agree. Is there a good reason why this is not available for ALL users to earn? Why just new users?
This is a new program to Binance without previous metrics of past projects (that we’ve seen anyways). We would be the first on v2 which is exciting but also has risks. To offload some risk I would prefer to see a staged payment schedule based on metrics. Maybe 3 parts of 50k based on milestones we agree…“X amount of people who have gone through the program”. Imagine a scenario where is Threshold pays 150k and has 1000 people through the program…
Clarity around how much of the 150k of $T is going towards the users that complete the program.
Clarity on how Binance will market this to their users other than having it on their homepage. How will they communicate that this is available and funnel their users towards Earn and Learn?
All budget will be distributed to users; Binance provides the service & platform for free.
Why does this matter? Binance is wearing the cost of content creation and the cost of promoting this offer to new users. We get evergreen content in the Binance Academy that all users can view.
While I agree that it is valusable to get fresh content out there, I do think it would be helpful to have clarity on why they exclude existing members of Binance from earning. Is there a practical reason other than preserving the $150k T balance as a tool for acquiring new users? How many existing users do we potentially miss out on by not providing a reward?
@Sienna
How many currently existing Binance users are there?
What percentage of pre-existing Binance users participate in new Learn & Earn programs when there is no reward?
What percentage of new users participate in Learn & Earn?
What percentage of new users who participate in Learn & Earn later invest in the token?
What percentage of pre-existing users who participate (without earning) later invest in the token?
What is the average number of users that sign up, complete the Learn & Earn, and never return?
I think answers to all of these questions would be extremely useful in determining whether this is the correct time and place for this investment, and I will not support this proposal until we have these answers.
how many of these ~40m weekly active users have participated in Learn and Earn, and of those, how many of them were prevented from earning because they were pre-existing?
As this is educational campaign so the budget from project team is designed to reward new users.
But all users can access the Learn part with 20+ languages translation available.
All users can access the LEARN part, but the EARN part is design for new users as the campaign goal is to help project educate new users.
All budget will be used in rewarding users until the budget is depleted. Therefore, no concern on if Threshold pays 150k and has only 1000 people through the program.
TBD. But it would be set at a fair number to avoid over-incentive.
Will Binance continue to do the quizzes as a Google form or will there be an actual UI that is more like Coinbase’s Earn?
Will this content be available after the campaign ends?
What kind of data will we end up with when the campaign is over to analyze the program and its effectiveness?
Do we have to establish trading requirements to run a learn and earn campaign or can we do something educational without requiring trading?
What section of the Binance website will this content live on?
Where and how does Binance promote it? Is it just a post on their website and an email to users? Does Binance promote it on Twitter? Is there a banner on the website? Where all should we expect Binance marketing on a Learn & Earn 2.0 campaign?
After the vouchers are issued, I see that users have 14 days to claim their rewards, what happens to the unclaimed rewards after the 14 days? I figured the answer was in the T&Cs but I don’t see it and I’ve read it a few times.
