Empowering crowdfunding through on-chain reputation

The Problem

Launchpads have a common problem when it comes to raising funds for projects, although they may be able to raise the required capital for projects.  Engaging users for the long term has been a problem, there are no incentives for users to stick around and become active members of a project’s community after they’ve received their tokens. In the current landscape of Launchpads, the majority of users buy tokens for a quick flip on launch, however, the real gems in the community that stick around and are in it for the longer term receive no benefit for their loyalty towards the project.

The Solution

Decentric aims to solve this problem by building a platform which rewards these users, creating a community of long-term community members and token holders for projects through the power of reputation.

A new way to reward investors

The Launchpad space is competitive, but riddled with the same problems. The Decentric team approached Avark at the very inception of their project to develop the idea and execution of their Proof of Reputation Launchpad. 

Allowing users to benefit from a Reputation Points (RP) system for being an active member of the community and long term investor of the projects launched on the Decentric platform. The more RP users gather the better chance they have of getting the biggest allocations on projects, incentivising projects to the Decentric platform by giving them the best possible community members pre and post-token launch.

Putting projects in the spotlight

The core functionality of the Decentric platform is all about investing in Web3 related opportunities. With this in mind, Avark created an investment flow that balanced giving the users all the information they needed to make an investment decision, with simplicity and ease of use.

The project view is split into 2 key sections, with one half dedicated to providing information about the project, token and team, and the other evolving around users making investments into projects and tracking the status of their investment.To allow users to track all their investments in one place.

Gamification Locked In

Avark worked with the Decentric team to design the platform with gamification elements baked into the platform, incentivising users to compete, rank up and reap the rewards. 

Every user on the Decentric platform is ranked in a global leaderboard by Reputation Points (RP). Users compete in tiers to level up the different tiers from ‘Builder’ to ‘Platinum’ with the leaderboard updating in real-time.

The higher the tier and leaderboard position, the larger the user’s potential allocation for a project allocation and the higher the user’s odds of winning an allocation in the project lottery.

A Quest for RP

Avark worked with the Decentric team to introduce a bespoke Quest system into the platform, allowing them to track user engagement across not only their own social media, but also how the Decentric users engaged with projects on the launchpad.

Users are rewarded with RP points for their social interactions, incentivising the community by rewarding them for their time and engagement with the project.

Avark launched the quest platform in the run-up to the Decentric TGE, allowing them to be build a community and strong momentum before the launch