It is interesting to see the that the userbase of the Leofinance community is gradually increasing over the last three days. As at 23rd September, 2020, when wLEO was launched, these were the community statistics according to Peakd Leofinance dashbaord as denoted in Image (1) in the combined screenshot above:
- 2,849 subscribers
- 706 Active users
- 4,995 interactions
- 3,312 pending payouts
Today, I again visited the Leofinance community dashboard to see how the information on the launch of wLEO has impacted on the userbase of LeoFinance. Unarguably, there has been an appreciating involvement in wLEO liquidity provision on Uniswap as shown in the image below. However, it is crucial to investigate how much "new" users are actually joining us over the last three days. In today's community update, this growth was captured.
Not to steal the thunder of our LeoFinance UI update - which is a major breakthrough on its own - but the WLEO - ETH pool broke $200,000 USD yesterday. WLEO was also recently listed on Blockfolio and currently has an application pending with several coin aggregators like Coingecko, CMC and Coinpaprika.
Looking back at the banner image of the post, the screenshot image marked (2) shows some level of growth in user related statistics of the community as follows:
- 2,886 subscribers (additional 37 new subscribers)
- 731 active users (additional 25 more active users)
- 5,413 interactions (additional 418)
- 3,276 pending rewards (reduced by 36).
With the above, we can say that there is some level of user growth in the Leofinance ecosystem though not as expected with the growing health of the LEO and wLEO tokens.
The leofinance.io website analysis on simpleanalytics shows a sharp decline in activity on the website days after the wLEO launch. One could argue that many headed to Uniswap to provide liquidity, however, I think that the pump in LEO price would have warranted more posts in the community in a bid to earn some more tokens to join share in the joy. I hope there could be a more technical defense for that occurrence.
I had noted in this post in agreement with @nealmcspadden and @taskmaster4450 that heading towards the $2 and $37 value for LEo requires so much work in onboarding new users and keeping them active in the community.
A careful follow and understanding of the discussions on the future value of LEO was hinged on userbase. At this point we need the masses to join the Leofinance ecosystem. This may not be investors though we need investors who would want to push in some $10,000 and more into LEO.
Even when the users would not buy LEO tokens, their increased activity on the leofinance website would certainly increase the accrued ad revenue which would increase the volume of the token to bought off the market for burning.
Can LeoFinance Community think of a Referral System?
We cannot playdown on the import of referral system on a community such as leofinance. At this time, I think the referral strategy could be the most effective tool to boost the userbase and keep the users active on this website. I'm aware of the possibility of abuse, yet, there could be some level of regulations that can shape things up. here are my few suggestions on a referral system check:
- Set a Threshold LEO Power to be reached by the Referred before rewarding the Referrer
- Set a threshold of number of leofinance posts to be created by the Referred before rewarding the referrer
- Set a minimum number of days that the referred must stay active before rewarding the referrer
- Set a threshold of the minimum LEO Power to be held by the Referrer
- Give a batch to the referrer based on the number of users referred after the referred has satisfied the tasks in (1 -3) above
We need users and passionate ones at that. This is how we can quickly grow the Userbase of the Leofinance community to increase our ad revenue as well. This would be feasible when there is a boost in activity on the leofinance ecosystems.
We're heading to the Moon with LEO!
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