Onchain incentives marketplace

Incentives drive crypto. This is to be expected from the industry trying to financialize everything. However, more often than not, incentives are horribly inefficient and lead to wrong outcomes.

Pacts are building an onchain incentives marketplace - in the true spirit of crypto, we are trying to make incentivization and getting power users' attention more tradable. We believe we can achieve greater efficiency of incentivization by using an orderbook-like framework.

  • Projects bid for users' attention, liquidity, and time.

  • Users offer their onchain histories, attention, liquidity, and social reach to get more valuable offers from the products.

Current questing platforms do not differentiate between onchain power users and sybils, which means all user addresses from the perspective of questing platforms are equally valuable.

Proxy marketplaces for user attention value are, surprisingly, different NFT collections, as it is quite common for projects to drop incentives to wallets holding certain NFTs. This way, projects implicitly say that the value of attention of a Pudgy Penguins holder > the value of attention of a random burner wallet.

We see this as a direct validation of the idea that market deems important to distinguish between different user types to make sure incentives are spent efficiently. Pacts elaborate on this idea and allow the use of a variety of onchain pointers:

  • Onchain history and past onchain behaviors

  • NFT collections and POAPs

  • Onchain identity and credentials providers (e.g. Degenscore)

  • SocialFi activity

This way, valuable users can prove their onchain expertise, whereas projects can gauge how much incentives they will have to spend to attract their real users from their target audience.

As the crypto industry matures, more niches with distinct power user profiles appear - for example, NFT collectors and perp traders have different onchain behaviors. We are building infrastructure to facilitate effective price discovery for user attention.

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