First of all, it is worth noting that it is pleasing to see that babelfish is continuously making strides towards improving its own technology and system operations.
Without increasing the value of the platform and babelfish itself, launching rewards in babelfish tokens will simply kill the price of babelfish, as it will be mercilessly fixed in USD tokens due to current liquidity. Therefore, to begin rewarding staking users, it is necessary to maximize the profitability of the platform itself. If you want to reward users in babelfish tokens, there must be a huge number of people willing to buy this token. Otherwise, with the current liquidity, the token, which is already below its private sale values, will drop even further and drive away all current users and staking users, losing interest from anyone since the project cannot maintain its value.
The second option is, of course, to reward in USD tokens, but again, the platform must generate additional profits to have enough money for rewards, advertising, and future development.
It all comes down to increasing the number of platform users, marketing campaigns, and so on.
The plan I propose is as follows:
- Increase the significance of staking - give users the ability to show their ranking to the platform itself - this can be done through NFTs or through recognition implementation within the platform. Specifically:
a) users with a large amount of babelfish in staking receive the lowest conversion rate (or pay no platform fees at all);
b) users with a large amount of babelfish in staking can receive the highest reward (e.g., 10% and users without coins in staking cannot claim rewards higher than 5%).
с) Based on the above, it is also possible to add a reduction of the exchange penalty if the exchange is made by a user with a staking balance.
Thus, we raise the significance of platform users themselves, the interest in the token, and the number of operations on the network. If we are talking about implementing a system, such as NFT, then its points can include:
- Staking babelfish;
- Exchange volumes on the platform itself;
- Participation in voting;
- Time of existence and participation in the babelfish ecosystem.
Such ratings, in essence, are competitions and incentives that increase interest and keep users attached to the platform because they enjoy working in such conditions and where their actions and expenses on commissions are rewarded.
When the system is fully developed, we can take the step I described earlier in another section of the forum.
" I have analyzed the latest trends and strategies that are currently effective in attracting funds and people to projects. Here are my suggestions:
- It is necessary to introduce an airdrop among community members for specific actions.
- Show that these actions will earn points that will be converted into tickets, such as lottery tickets or real currency, in the future.
- Set tasks and quests on platforms such as zealy.io, galxe.com, layer3.xyz, guild.xyz.
The tasks will primarily involve actions like reposts from babelfish’s Twitter account, subscriptions, comments, and highlighting friends on the most interesting posts. Initially, these could be announcements about the upcoming period when project participants can show their activity and be rewarded for it in the future. In the second stage, there will be introductory fragments about the platform - these will be more emotional and intriguing videos that talk about the profitability of staking, future airdrops for active participants, and the widespread use of the platform in the future. The message will also highlight that full decentralization will provide maximum profit to babelfish community members, not only those who have left their coins in staking but also those who hold coins and will soon benefit from the platform’s maximum adaptation and expansion with the implementation of new networks and possibilities.
It is crucial that this advertising campaign and future airdrops are implemented first on DEX and then on CEX - without this, the reaction from both old and new communities will be negative, leading to the project’s ultimate demise. In terms of airdrops, I suggest including other projects to reach a wider audience and increase trust levels - for example, wallets that can advertise the airdrop themselves. It would also be great if exchanges could add the possibility of dropping staking rewards for a particular currency, as done on Binance Launchpool. Alternatively, if possible, staking babelfish itself could be introduced, with a high APY offered initially, which can also be advertised via email to potential interested people willing to participate. In the future, giveaways can be added between stakers - i.e., people who hold their babelfish coins in staking until, for example, May 20, 2025, have a chance to win a 200% API or $10,000.
All of this must be advertised through reposts, comments, etc. on Twitter, other social media platforms, and cool platforms. This way, the project will truly come to life and bring profits to all participants. I suggest planning this advertising campaign for six months to a year. It is essential that each action is intriguing and motivates users to keep their money in the project or conduct transactions and exchanges.
Finally, by collaborating with some platforms like SOV, it may be possible to award beautiful NFT rewards for a certain number of points or completing certain tasks. Every ten days, cash prizes or bonuses that will count towards airdrops can be awarded for the best meme, the best advertising slogan, or the most people referred through a link. These will all be new and exciting NFTs that cryptocurrency users love.
It would also be possible to release a series of NFTs - several projects currently use this method with the possibility of a future airdrop. This series should be conditionally free, but to receive such an NFT, the user will need to pay a small conditional commission, for example, 0.000777 ETH, and this will bring money to the babelfish project, which it can use in the future for prize draws and increased API, which babelfish can use to increase liquidity and for advertising. These are the funds that will inspire every member of babelfish to work, and inspire every participant to contribute to the project. And, of course, these NFTs will then need to be used as amplifiers of the received airdrop.
You mentioned the lottery that inspired you - make it public, make it so that the whole project is heard about, make it so that babelfish enters history and becomes known to every third person in the world. Make it so that not two or five people win, but the entire babelfish community wins. So that victory is achieved by those who have recently joined the project and those who have been with the project for a long time! Make it so that we know that we are supporting and supported the right project, which has confirmed its name, confirmed the fact that we were not mistaken and it is the one that changed our destinies.
- Listed by points:
A) Articles about the project’s current work and future developments and plans (e.g. updating the roadmap).
B) Short videos (1-2 minutes) showcasing the platform’s ease of use, updated plans, and advantages. It is important to highlight the features, benefits, and advantages for the platform’s visitors. Contests for attractive videos demonstrating the platform’s simplicity can also be organized. Mini-instructions on how to use babelfish and arbitrage cryptocurrency are also relevant. Videos explaining the importance of balancing curves are necessary.
- Information about upcoming airdrops will be posted, which will depend on each individual user’s activity and points earned on platforms such as galxe.com, zealy, guild, layer3, etc. Posts will also be made on airdrop websites such as airdrops.io, airdropalert.com, airdropking.io, etc.
- Twice a week, simple tasks will be posted that do not require any special skills (e.g. transactions, volume, staking). Once a week, a video instruction will be posted along with a task related to that topic or instruction. A monthly or bi-weekly contest for memes or videos about babelfish can be organized, judged based on dynamics, graphics, and plot.
- Other tasks include:
A) Repost tasks
B) Repost tasks with comments mentioning friends (a separate section can be created for the number of invited users)
C) Tasks for users to understand the platform better
Conclusion: By performing these tasks and activities consistently for several months, more people will learn about the platform and volumes will increase, providing users with money and increasing the project’s budget. In general, the project will start working instead of languishing.
It is possible to offer prizes in XUSD (or other stablecoins), prizes for increased staking rates, and prizes in NFTs that grant the right to use the platform for one, three, or twelve months without paying bridge fees or penalties."