I believe that the competition was a huge marketing fail. With the amount of money spent on it and value of rewards being distributed, the entries we had were underwhelming. The value of rewards given out to individuals were huge and pretty much everyone who entered won, including duplicators (good on them:ok_hand:) and many entries got multiple rewards as we had more rewards than entries
I’m not complaining since the investors all won but the pitch was to bring in thousands of new investors.
I’ve seen gleam competitions with six figure entries for $10 airdrop competitons for unheard of tokens with no real product but our gleam entities just had a few thousand entries for much larger rewards hosted by a established protocol
The survey results also showed that a majority of us are old investors (over a year) so we’ve just hosted the biggest giveaway on the entire bsc ecosystem and still can’t attract new investors let own enough entities for a multiple free gleam airdrop.
How we only have around 1000 Venus users staking in the vault managing 3 Billion is unbelievable too especially after the competiton.
The conclusion I draw from this is that Venus has an awful reputation and not even free giveaway are enticing people to engage with us. What we have is mostly just old investors holding huge losses and most of us can no longer afford to keep buying the dips & nothing we’ve tired so far has been successful in attracting new users.
So I believe to help clean up our image we should promote the winnings of the competition. Many people got multiple rewards exceeding $1000, some even higher. That’s huge so let’s market it on Twitter. We’ve become the most generous protocol on bsc by hosting the biggest competition ever with the largest individual reward distribution. The winners should be celebrating so let’s promote these winners so we can show the wider crypto community that the giveaway was real and prove wrong and all those that didn’t trust us and missed out.
So if you can, thank Venus for your prizes, maybe even share how much you won in total and hashtag #MissionToVenus on Twitter
Trust is lost like since that bad manipulation. Only thing to regain it, is do ASAP rebrending, new UI and app look and give out something big. Venus is sinking since manipulation, and it’s very sad. BSC lending and borrowing only project.
No, I believe, that first what we need to do, is rebrending and UI and only then work on marketing. Because all those things doesn’t. We just need to restart and start everything from the beginning.
I agree with you, all of Venus’s marketing efforts so far have failed to bring in new users. I’m a member in various crypto communities and believe me, the level of distrust they have in Venus is real. We have new management now and we’re heading in the right direction but the new team haven’t been able to change people’s opinion yet and I’m not surprised. Venus still looks the same as it did when it originally launched with the same issues it had a year ago plus many hurt investors.
I’m personally against a rebranding as bad publicity is still worth something, we just have to work on building a strong community around Venus and keep developing the protocol and start the marketing when everything is actually ready
Marketing won’t help a lot as we see. Chart shows everything, and every new investor would ask himself “what happened?” my opinion is, that team need to do something like very big, what would change everything, the way to gain back trust. In such situations like after that, what happened, need to do exactly same, just opposite.
Event fail because of lack of marketing and too long delays. It has been 2 months since the tweet was posted to the start of the event.
This event was postponed to the back just to complete the event.
Others spend very little money, the effect is much better than us
The only real problem with the VENUS project, at the moment, is that investors in the market now do not believe in this current new team and at the same time do not see them! The only way to solve this problem is for the project to be led by a well-known person in the industry who can bring expertise, technology and influence to the project, and from what I can see no one seems to want to take over this mess, I think only BINANCE themselves can step in and announce to everyone that they are leading the project and can show everyone a Otherwise all that has been done is in vain, just like this incentive campaign, the market doesn’t care because it’s a discredited project, no real change, an anonymous project, investors won’t be interested and come back to this project!
Yeah I agree, marketing hasn’t worked as it only served existing users as it complely failed to bring in new users. Hopefully the team can find away to earn back trust and start gaining users
The marketing was a fail, I didn’t bother with the gleam competitions as I was just too lazy to meet to requirements and do all the separate tasks. Every token had it’s own requirements and its own gleam sign up page and as for the xvs vault airdrop, I didn’t even know it existed until I received the reward I think the competition was just too big and complicated for it’s own good & yes the delays buried it so it barely received any engagement from the crypto community and by the time it did arrive, it had such few entities because nobody even cared anymore.
Existing members were rewarded but the point of the competition was to bring in new investors which it failed to achieve
As I see, there is only one way to get out bad reputation - to announce, that Binance or any other big name is taking over Venus. I understand those people, who would like to invest there, where happened such thing
Thanks for the air drop. Venus is still the biggest on the BSC. I think it’s more of a BSC thing than a Venus thing. Other inferior chains are saturating the market.
I see a lack of single coin staking options in chain interoperability in the crypto space. Venus is in a position to capitalize on this possibly.
I’m wondering if Venus could serve as a validator broker(like trust wallet does) they can take some rewards to remain profitable and pass the rest onto the staker. This will add to tvl. Then all xvs apr could go to the vault and the validator node will pay the apr?
It is hard to compete with Planet Finance now. The devs need to act quickly. Planet Finance is offering way better yields. I may never regain my losses
and hashtag #MissionToVenus on Twitter