1 million NAM is only 2% of the annual budget, but this first campaign is going to set a standard. That is why I would like Namada’s first mainnet PGF to reach several goals.
- Donating a large amount to Coin Center
- Spreading the word about Namada
- Getting support and goodwill from all layers, not either influencers, whales or farmers
- Preventing exploitation of the airdrop
- Avoiding controversy
- Manifesting the value of Namada
- Making it happen before Phase 5
Donating a large amount to Coin Center
Vitalik donated $1 million worth of ETH. Would be nice to match that amount.
Yes, that means a target of at least $1 donated per 1 NAM airdropped.
Spreading the word about Namada
We could simply give Coin Center an account with 1 million NAM in it, but I am afraid they do not know what to do with it and it will be forgotten. They may not even post about. Remember that before Phase 5, NAM cannot be moved and has no market value. A primary goal besides supporting the cause is to increase Namada awareness and the number of NAM holders. Therefore the campaign needs to have an element of virality.
Getting support and goodwill from all layers, not either influencers, whales or farmers
- If we do a referral code campaign, most NAM will go to influencers and bot farms.
- A linear campaign, the more you donate the more NAM you get, means most NAM goes to people with a lot of money.
Ideally this campaign gives each individual the same opportunity.
Preventing exploitation of the airdrop
In addition to somewhat equal distribution, the airdrop needs to be safe from flaws that allows an attacker to claim the whole budget.
Avoiding controversy
Aside from preventing exploits that make Namada look stupid, it would be advisable to support palatable causes. The goal is to increase Namada’s clout so we can continue to fund public goods with increasing impact. This is not a matter of having guts or being timid, but about strategic self-preservation. And yes, I know edginess tends to go viral, but it can and often does backfire spectacularly.
Manifesting the value of Namada
The value of cryptocurrencies is often based on hype, conviction and attention, not so much on fundamentals and business models. Case in point, half of the top 100 coins are pump.fun meme tokens. I believe imagination has a huge influence and we are able to manifest value.
“Give $3 = get 1 NAM”
Why care about value? A high value increases interest in the protocol and serves the flywheel that gives our public good funding more firepower. Imagine we can raise $3 million in donations to crypto advocacy with our first campaign!
Making it happen before Phase 5
The campaign should be done by Phase 5, so we get more NAM holders on board before people start mathing and gaming the system. Also we still have up to 98% of the budget to allocate, so we cannot spend too much time on this campaign.