Harmony Earn Program on Website

Hey @HarmonyCommunityDAO

the discussions today in the Community DAO Call on Twitter Spaces made me think a bit more about incentives and how to make people participate more.

Would it be possible to create a Harmony Earn Program like Coinbase had running for quite some time with other tokens. This educational videos could go through:

  • Wallet Creation
  • Staking on the Dashboard
  • open a talk.harmony.one account (optional)
  • And other stuff…

During the process members would get some amount of ONE getting trough the whole process. I know that 100 ONE is the minimum amount needed for staking and that amount could be quite high given the current token prices but I think this could be a great way to introduce people to the protocol, wallet and staking process among others.

What do you guys think?

Saludos!

9 Likes

Hi Manumix,

I agree with you. A Harmony Earn program would be amazing. I think it should go through “Wallet Creation”, “What is a DAO”, and “Talk Harmony” account creation plus a post of “Why Harmony”. This could be incentivized with a $10 amount of ONE.

5 Likes

Hi everyone,

a bit more of an elaborate concept for this. I would like to hear your ideas and if this could be a feasible thing to implement or not.

Main Points

  1. Content
  2. Who could implement this? Content creator, Artist, Agency, Devs…
  3. Who will pay for this. Grant, DAO and Community.
  4. KYC issues
  5. Feasibility. Is this doable ( Yes / No )

So lets look into each point:

1. Content
Goal
The idea behind this would be to onboard new members (new wallets) and in addition to that new delegators. We want people that never heard from harmony learn about us, create a wallet and learn about the passive income feature on the stating dashboard. Harmony is all about the new era of finance, circular economy and passive income. So there is where we start.

Later on, we could expand to other things like DAOs, participation, voting, etc… but first is first, who are we and how can you earn passive income.

Concept
The idea would be to watch a 2-3 minutes long video and then answer a question or do a task (for example create a wallet). When the question or task is successfully answered or finished the wallet becomes a certain amount of ONE (later more on this).

Style
Personally I like the cartoon style, accompanied with a light cheerful music and a voice narrating the story. Yes, we have seen this before and this style works perfectly IMO.

Videos
3 Videos would be the kick off:

Video 1 - What is Harmony One

  • A blockchain
  • A smart contract platform
  • It is super fast and incredibly inexpensive
  • You can use it to earn passive income, use it for DeFi, Trade, Farm or even play Games
  • You can develop all sorts off apps and its connected to a whole bunch of other blockchains including Bitcoin and Ethereum.

Video 2 - Create a Wallet

  • Install the Chrome Extension
  • Create an Account
  • Store your seed phrase in a secure place

Here is where it would be great to find a mechanism to identify that the wallet is actually a new wallet that has been created with the video and not an old existing one. Once that is proved, we grant the wallet with an amount of ONE (more about the amounts later).

Video 3 - Staking Dashboard

  • Open the Staking dashboard
  • Connect you wallet
  • Delegate your coins (more about the amounts down below).

2. Who could implement this?
Since these videos will represent the project and will also be the first contact with harmony One for many, they must hold a really high quality standard. Neat graphics and design, pleasant music and a good voice as narrator.

I would assume that other big companies out there gave this task to an agency and paid for it. The budget here would be considerate IMO. I don’t personally know which agency could be the right one.

3. Who will pay for this
Background
The idea would be that every person that passes the earn program will have 100 ONE staking on the dashboard. It would be looking like a bit of a “ponzi” if we only give members 20, 30 or 70 ONE and tell them that in order to stake they need to buy the rest on an exchange, send those ONE to the wallet and finally delegate those 100 ONE. It does look a bit fishy and at the same time it would add additional hurdles and complexities for new newbies.

Numbers
A high price of ONE is not great when giving them for free. At this prices, 100 ONE is around 28USD. Other Learn to Earn program used to give around 6-12USD. This would triple that amount.

A possibility would be pairing this with a referral program. In order to finish the full program, you need to refer 3 friends. Only after a friend finishes all 3 videos you become 25 extra ONE.

This could look like:

Video 1 → 10 ONE
Video 2 → 10 ONE
Video 3 → 10 ONE

Referring a friend that makes all 3 Videos → additional 25ONE

After referring 3 friends you would have 105 ONE, 100 for staking and 5 for fees.

Onboarding Budget
This is a costly Onboarding program and I don’t know if something like this could even be possible. Here a little example what this would mean, in ONE and USD:

1000 new members = 105,000 ONE = 29.4k USD (at 0.28USD / ONE)
10,000 new members = 1,050,000 ONE = 294k USD
100,000 new members = 10,500,000 ONE = 2,940,000 USD

Financing

  • Grant
    A grant of 50k USD could be used for the creation of the Videos, questionnaire, track of new addresses, distribution of ONE and referral program.

  • Community DAO @HarmonyCommunityDAO
    The Community DAO, that has “Onboarding of new members” as one of the three mandates could find ways to find additional financial support for the onboarding process.

  • Community (through staking Dashboard)

Delegators
On the Dashboard we could include an Optional Checkbox that could be marked if a delegator would like to destine a % of the staking rewards to onboard new members. This could be a 1% for example:

From 1000 ONE rewarded:

  • 940 ONE go to de delegator
  • 50 go to the validator (at 5% fee)
  • 10 go to the Onboarding Program (at 1% Onboarding “fee”)

Validators
Validators would benefit directly from the new onboarded members and the 100 ONE that they would allocate on the staking dashboard. A checkbox for validators would make also sense.

In the example above, that would look like this:

From 1000 ONE rewarded:

  • 940 ONE go to de delegator
  • 50 go to the validator (at 5% fee)
    • At a 1% Onboarding fee, 0.5 ONE would go to the Onboarding Program
  • 10 go to the Onboarding Program (at 1% delegator Onboarding “fee”)

In total, if delegator and validator participate this could look like this:

From 1000 ONE rewarded:
Delegator = 940 ONE
Validator = 45,5 ONE
Onboarding Programm = 10 from delegator + 0.5 from Validator = 10.5 ONE

Every 10,000 ONE rewarded we would have 105 ONE, enough to Onboard 1 member.
As an exaggerated extrapolation, at 440mill ONE/year we would collect 4,620,000 ONE, enough to onboard 44,000 new members/wallets.

  • Implementation - @harmony_dev_dao
    This solution needs developer capacity. I just mention the Developer DAO because this might be channeled through them, I am not sure.

The destination wallet of the Onboarding Program should be known by everyone so that this gets as transparent as possible and every participant knows where their funds are going.

4. KYC issue
Exchanges that have had these Learn to Earn programmes had strong KYC rules and every new member was easily identified. This might be an issue since our users and wallets are not KYCed.

Could this be connected to an E-Mail address? People tend to have 2 or 3 E-Mail accounts nowadays and this wouldn’t prevent the possibility of taking advantage of the program.

Are there other identity possibilities?

All this brings us to our last point, feasibility:

5. Feasibility. Can this be implemented?
This Onboarding Program would be a common effort among every layer of the project. Core Team(Grant), Community DAO, Developer DAO and Community (delegators and validators).

Is this a too difficult and costly task that will potentially onboard only 44k new members a year?

I let you all decide and I would be very happy to get feedback on this. Please, I encourage everyone to throw in here critics, point out if there are gaps or issues that I might have forgotten. The earlier we declare this as non feasible, too costly or inefficient the sooner I and others can concentrate on something else.

Thanks and nice sunday to you all.
Manu

3 Likes

Yeap, agree, we can give insentive 10 ONE for sign up, 5 ONE for share and get 2 more ONE if there’s new user sign up from their referral link, accumulated.

1 Like

I don’t know if anybody here has ever used Stellar Quest - an app where you complete tasks (mostly in programming) to earn $XLM. The app actually teaches you how to build things on the Stellar Protocol. If something like that could be implemented in the long term, along with the earn program that is being proposed here, it would be great to onboard both crypto enthusiasts and more devs.

3 Likes

My thoughts about this:

  • 10 ONE for the completion of the whole earn program is not much. 2.6USD at current prices.
  • To reward someone for sharing incurs into the problem that people would just share to get the rewards without the intention to actually onboard someone.
  • I would only reward the original person who shared the referral after the referred person signed up and finishes the tasks.

As I stated above the goal would be reward 100 ONE. That is a lot of money for free but that is why I proposed a community financing through the staking dashboard.

5 Likes

Very well thought out and articulated! This is quite a big idea and would love to dig deeper. It would require cooperation across many fronts, for example devs would need to create the program, the community would need to create and approve content, an HIP validator proposal would need to be implemented to add the functionality to fund the operation as described, etc. This is not even looking at KYC and the fairly large amount suggested. I (harmonious dude) would be interested in hearing thoughts from the community, but personally I feel 100 ONE may be too much. I do see what you are saying about the ultimate goal of getting the coins staked, but I would hope that after completing the educational material the user will be inclined to invest their own money into the ecosystem (maybe offer a flat $5 or $10 USD equivalent of ONE?). Another thing, perhaps this should be revisited after the launch of the ONE wallet’s social recovery feature. There might be an easier way to prevent abuse of the program at that time. In fact, the educational program could perhaps be a carrot on the stick to entice people to create and register their ONE wallet. Until then I worry the KYC would be a bit cost prohibitive. Just a thought. I welcome any contradicting opinions.

1 Like

Hi Harmonius Dude / Community DAO,

thanks a lot for reading my post and the feedback.
I will try to give my answers in a bullet point manner to keep it structured:

  • Yes, this is would be a big proposal that would need the collaboration of many. Given the amount of work the Core Team has at the moment, with the packed roadmap and proposals to review I assume that something like this should be approached more down the road.

  • The KYC part would definitely make sense after having the 1Wallet around. A learn to Earn on Coinbase is easy because everyone there is KYCed. Not sure if the 1Wallet will make this easier but at the moment with the chrome extension wallet doesn’t seem to be applicable.

  • I kind of agree with the 100 ONE. It would be awesome from a conceptual standpoint to give people the amount the can directly be stake but that is quite some money atm. This could be solved IF there is a plan to bring down the minimum staked amount to 10 ONE, but that should happen only because it’s planned and not because we need it for a learn to earn program.

  • I think that something that could be explored more in detail is the possibility of optionally funding some initiatives through % of staking rewards. Not sure if this could be a way to fund DAOs and we know that the harmony community is an heterogeneous bunch of people and not everyone would give rewards away but it could be worth a brainstorm.

Overall I think it’s important to to keep ideas flowing and eventually something could work for this or any other initiative or proposal.

1 Like

Hello team, this is a great idea… and not something we can sit on, methinks. If we want Harmony to explode at the user level… we need something simple, with clear guidelines. A one pager that links you to the different ways to “earn ONE as you learn”. Each step would build on the previous one and that we hand out during every event, meet-up, etc.

This is something we would be very happy to test from the Africa DAO… Help us grow in Africa. Adoption is growing exponentially in Africa, and the major chains are moving very fast. Frankly, we need to move fast before the space gets crowded. Would it perhaps make sense to create a specific team/grant to do this? @Manumix we’d be happy to help

What would be concrete steps to make this happen? I could focus on the last mile, the distribution. Thank you!

2 Likes

Such bright minds! Blessed to be able to witness the growth of this protocol and community :smiling_face_with_three_hearts:

Hello ep2338,

thanks a lot for reading my post and I am glad to hear you see the potential. I just read the African DAO proposal and I am very impressed with the team and the ambition behind the proposal. Congrats for the approval!

I think that a learn to earn program could be a great way to onboard new wallets and members all across the world but it would make the biggest impacts in the less developed regions like for example Africa.

To my persona, I am no developer and have no team so I just threw the idea in here to start a brainstorm and see if this could be done. With this in mind I see the following steps to bring this forward:

1. KYC
Find a platform or app through which we can guarantee that 1 person makes the learn to earn program only once. KYC is expensive as I got but if there is a way to guarantee a 1 to 1 relationship, this idea would be half way implemented.

2. Content/Videos
Find an artist/content/creator/youtuber that can built good quality content. Videos of 1-2 minutes would be the ideal choice IMO.

3. Financing
Find a way to finance this in an ongoing manner. I think the goal would be to onboard a certain amount of wallets each year during the next 2-3 years. 10 USD equivalent in ONE (my original idea spoke about 100 ONE but that would explode the budget as discussed above) should be a good starting point. That would be 1mill USD to Onboard 100k wallets. Ideally 100k wallets per year puts us at 3mill in 3 years.

I would love to see this being implemented but I am running out of ideas for Point 1. Any thoughts on that?

UPDATE
I have found a 3rd party KYC company that charges around 1USD per Verification. This could be worth an exploration.

This is good… There’s a stuff like this on Coinmarketcap called “Learn and Earn”… Coins get’s more visibility through that program.

Hey @Manumix these are all good points. We could even translate the videos into local languages. We would love to explore this further from the Africa DAO, and we would welcome input from the community to refine this.

I think in general it’s a great idea.
But first up, there was/is this ONEquest that was/is highly incentivized, but it feals like noone knew about it and noone did check it or did the payouts.

But it must be happen in a decentralized way. And KYC is key or otherwise the system will be just ‘farmed’. I know that DevGov Dylan aka @BoGani.net is working with his Bridge Builders to implement learning ressources for beginners.

An alternative to incentivize using ONE coins would be to create a utility token for that. So that you can claim the utility token for doing a task. And you could use that token to unlock more learning material.

I have found 3rd party apps that make KYCs for around 1USD, for example YOTI is one of them.

The idea of a “Learning token (L-ONE)” could be interesting and would have pros and cons.

Pros
It’s cheap since those tokens won’t cost ONE
This tokens can’t be sold on the market and create sell pressure

Cons
The incentive power is lower

A redeem ability (maybe time dependant) to change those L-ONE for real ONE could be worth exploring in this case.

1 Like