Last day @JL23 suggested running advertisements on reddit like Tezos coin.
@DavidK is interested but wants a proposal which requires 10000 fx as security deposit.
I don’t think decentralized marketing will work. @DavidK @zaccheah
Who wants to risk 10000 fx to ask for funds to run advertisements?
Most holders have less than 10000 fx including myself.
Also the whales don’t want to risk 10000 fx as security deposit too.
For short term and as a kickstart marketing campaign we need Function X team to do it.
Function X light the torch by doing first advertisement campaign then community takes the torch by follow up marketing.
To transpose thoughts I had on this in Telegram.
- Decentralized marketing will work given enough initial momentum and interest creation
- Decentralized ideas in general need a critical mass of community activity and support. (see the trouble FX Mainnet had launching and having to beg for bag holders to stake)
- Decentralized processes need incentives all around to succeed. Good will is not enough of a momentum driver in the absence of a reward unless you have a extremely vested group of holders (FX does not have a vested group, seeing as there was sub 4,000 address before the mainnet launch & its extremely limited exchange proliferation)
- Momentum begets momentum. In the case of this proposal system the team is asking us, the community, to kickstart the ENTIRE marketing process ourselves, without a basis to work on. We are starting with 0 Momentum and have a very low chance of succeeding in generating the required critical mass of attention without capital expense directed toward gaining new eyes
To make an analogy that is easy to understand.
Pundi Labs has made a fantastic and fertile plot of land in FX & PundiX. Imagine this as a field ripe for planting, however it needs work to actually plant the seeds.
What the team is asking us to do is By ourselves, without an Ox, a farming, machine or other tool of the trade, cultivate, plant, and grow the field all on our own with little to no reassurance of a return on our invested time or effort.
Meanwhile our neighbors and competitors also have fields, but in their case, the land owners gave them a lot of farming tools right away, and in some cases even plowed and furrowed, and planted the field themselves before handing it off.
The Pundi team is asking a LOT from its farmers by not providing the tools of the trade, and then in the case of having to put up a deposit that has risks, to be granted money to go BUY the farming equipment is just unconscionable at this time.
I personally would rather risk the 10k tokens on buying ads Myself directly. We have no proof yet that the voting participation is going to be thorough and complete with such low energy from the majority of the token holders.
Cannot agree with you guys more.
There are too many holders of less than 10k fx. And for a security deposit that’s quite a big guess.
Also the voting power which has to be massive if you see that are already on 279M bonded tokens.
Team needs to step up and give the headstart and make it more suitable for smaller holders as well
A simple gif and a few k’s budged on ad-sense could go a long way.
I already gave my opinion on the has-out post itself, so won’t repeat myself here, but yea, also don’t forget that a fair portion of delegated coins are from the team, so you will need their approval and yes vote too.
I agree 10,000 is a lot of deposit to put on the stake. May be if they change the rule to refund 90% deposit in case the vote doesn’t go through, more people will be willing to put the deposit down for their ideas.
Loosing 1000 Fx ($400-$500) for unsuccessful consensus voting is a fair bit of change and should keep spammers on the sidelines.
Thank you for all your feedback. Your concerns are valid. For decentralized marketing, the team is working on a proposal to establish a mechanism to facilitate it. The marketers do not require 10,000 FX to get their budget approved. Instead, their marketing reward will be evaluated by the performance and engagement which could be easier for the community to vote and decide. Hopefully it will cover some marketing initiatives that the community members will have / already have
This proposal will be published on the forum next week and will follow the procedures of the EGF funding process. Comments are always welcome before going to a voting process. We hope that every FX can be spent effectively, generate the most impactful results as it can and being transparent to the community
This is very good and will work better for marketeers.
Thanks for the reply. I have proposed an AMA with r/cryptocurrency subreddit which doesn’t require any marketing funds.
The Function X team has to contact the moderators for it. Hope the team will look in this great opportunity. If we can have an AMA with this subreddit with 3 million followers it will be great.
Can team contact the mods? Check my thread
I will attempt to have my proposal ready by Wednesday.
Hello - I’m following.
Marketing is often underestimated in companies, be it centralized or decentralized.
One can have a Super Product, but one cannot sell it because it is not marketed properly.
The reverse happens much more often with disastrous consequences afterwards.
I don’t think it’s the best choice to leave this (entirely) to the community.
Beware, the idea behind the fact that the leadership wants to involve the community here in a win-win situation I don’t think it is bad either. But attaching the condition that you have to contribute at least as much of your own and then can lose I don’t think is the best proposal either.
Just being rejected can be painful enough for some people. With the result that they permanently turn their backs on Pundix / FunctionX.
I hope the leadership is fully aware of this.
I think besides this there are other ways to reward loyalty and the creativity of some without having to give a deposit first. - Greetings Belgiumguy