Idea summary: Not many people may know much about the concept of elastic finance. Many more likely don’t even know the concept exists. As someone new to the cryptoverse I asked myself, what can a newbie do to help the Ampleforth initiative? Well in August I did some digging into crypto, which led me to De-Fi, which led me to Ampleforth, which led me to E-Fi. Anyone see the problem there? E-Fi should have led me to Ampleforth, not the other way around.
I think Elastic Finance needs to be understood better. Grasp its concept, understand why it was made, why it’s needed and as a result, it will be easier to understand what Ampleforth is trying to achieve. You don’t learn how to swim by going surfing. Lets get people swimming in the waters of E-Fi and once they’re comfortable, they can start to surf the waves of Ampleforth with a greater understanding so that they don’t wipe out!
So what’s all that got to do with a Twitter competition? Well it’s undeniable that it seems to be a good way to promote something while getting many people involved. I’m still undecided as to what shape the competition takes form.
Option 1: We could do something like, ‘How would YOU describe Elastic Finance to an alien/your grandma? Best answer that the alien/your grandma understands wins a PS5.’
Option 2: Evan Kuo mentioned in the recent Reimagine appearance that memes are a good way to promote awareness to an idea. So with that said we could do something like ‘Make a meme celebrating Elastic Finance and you will be entered in for a chance to win a PS5.’ I have created a couple examples in the space of 2 minutes using the website below to highlight how easy it is to make them.
Idea implementation/execution: It would probably make most sense for this to be done on the AmpleSense Twitter page. WHEN it should be executed is another consideration. Maybe prior to the release of the Elastic AMM, or the release of another usecase for the Ampl would be most appropriate.
Budget/cost: $500 which I think we would all agree is not a significant amount if it promotes general awareness of the E-Fi sector, which thus leads people to Ampleforth.
Examples of similar ideas: I don’t want to highlight other influencers or projects on here but I am sure you will all easily find an example of competitions akin to my idea by taking a couple minutes to browse your own Twitter feeds.
Idea Timeline: When does the PS5 come out? 😉
Apologies if anything is unclear, let me know if anyone has any questions or a better idea for a competition as there are so many alternatives.
Meme website – https://imgflip.com/memegenerator/Y-U-No
This is something I have been thinking about myself, how to get some fresh meat into the space. The reason you found Ampleforth before you found Elastic finance is probably the fact that Evan Kuo first coined the term in July.
Problem is that Elastic Finance doesn’t actually exist yet, it’s just being built. And I believe targeting an audience of complete newbs might not be the best idea while prototypes of products are still under development.
But marketing campaigns on Twitter, with a Ledger Nano S instead of PS5 as a prize, would probably attract a more crypto friendly crowd in the early days of EeFi. Not that there’s anything wrong with a PS5, i just don’t see it as optimal for the intended target audience.
Both these options are certainly doable, and with a budget that small, this could be a pilot campaign.
Thank you for your contribution.