1.Most popular crypto exchange promotion campaigns:
1.1 Divided by purpose of activity
Acquisition
Examples: referral rebate, replenishment ticket channel for new users, Buy BTC with 50% off through OTC, airdrop for sharing posters, etc.
Activities focus: instant gratification, users can get a reward for doing a certain action, and stimulating users to take the first step.
Users Retention
Examples: superhot mechanism, holding reward, old customers rights, etc.
Activities focus: Delay satisfaction, and use a reward that is relatively large in the future to attract users.
Activation
Examples: fee rate experience event, giveaway event by trading
Activities focus: In a specific user group, the probability of users receiving rewards or benefits is extremely high, and users can calculate their own probability of winning, which can activate users.
Promote trading
Examples: Trading competition
Activities focus: clear rewards, professional users have clear profit expectations. Professional users include market makers, high-frequency traders, large currency holders and large transaction traders.
Compete with competitors
Examples: contract‘s 0 fees, OK’s negative Maker, some trading pairs 0 fee rate in a limited time, etc
Activities focus: effectively curb the development of competitors by less cost.
Increase asset precipitation
Examples: Net deposit reward (Net deposit = total deposit amount - total withdraw amount)
Activities focus: Pay attention to net deposit and users' holdings, whichever is the lesser to give rewards. Give users guidance on obtaining assets from external platforms. At the same time, set the anti-swipe strategy to limit the number of users to wash trade inside the exchange.
Increase effective users
Examples: if the trading volume reaches a certain number, users can participate in the giveaway, and if they hold a certain level of positions, then they can get rewards
Activities focus: set certain conditions, utilize users' profitability to guide users to become effective users.
1.2. By activity time
Regular activities
Examples: referral rebate, superhot mechanism, holding reward, universal fee rates, etc.
Scope of application: 50% -60% of the overall target is abstracted into regular activities for execution so that the basic target of the goal can be controlled;
The characteristics of regular activities: Many a little makes a mickle. The effect is not outstanding in a short time, but the effect can be great in a long time.
Periodic activity
Examples: staking to get dividends, regular destruction of platform coins/tokens, etc.
Scope of application: 30% -40% of the overall target is abstracted into periodic activities, give users predictable surprises regularly.
The characteristics of periodic activities: it has a certain periodicity. Rewards can be expected, and this kind of activity gives users a short-to-medium-term expectation.
Temporary activity
Examples: trading competition, net deposit reward, negative Makers, rewards for sharing posters, etc.
Scope of application: 10% -15% of the overall target is abstracted into temporary activities for emergency situations.
The characteristics of temporary activities: strong uncertainty, attractive rewards, can attract enough users to participate in a short period of time to achieve the goal.
Combined activities
The essence of an activity is to sacrifice some profits to get the income we want, so no activity is perfect. If the activities are carried out in sequence, a feeling will be produced, which is eat cold medicine for headache, but cold medicine causes leg pain, then take a pain reliever for leg pain, but it causes foot pain. There is nothing wrong with each time segment, but it is slightly absurd for a long period of time.
Combined activities refer to combining multiple activities together, nesting each other, using the advantages of each activity, and complementing each other to form a small-scale positive cycle, and the effect of 1 + 1> 2 is obtained. For example, a small trading competition is embedded in the holding reward event. During the event, holding rewards events are used to attract ordinary users to participate, forming buying orders, and alleviating the selling pressure of trading competition. At the same time, the trading competition stimulates professional users to trade, which facilitates form the entire network trading master disk.
The combined activities have higher requirements for the participating project parties. If the project parties have weak market value management capabilities, combined activities are not recommended.
2.Strategy of operational activities
Stones of other mountains can be used for jade. E-commerce is a typical industry that sets annual operating goals through regular activities, periodic activities, and temporary activities. Take JD.com as an example:
50% -60% of annual transaction volume depends on regular activities, such as free shipping for members, regular coupons, JD seckill sales, daily specials, brand flash sales, etc.
30% -40% of annual transaction volume depends on periodic activities, such as 6/18, 11/11, 12/12, Super Category Day, Super Brand Day, etc.
10% -15% of the annual transaction volume depends on temporary activities, such as poverty alleviation projects, summer high-temperature subsidies sales event, mobile phone shopping festivals, and so on.
With the experience of e-commerce activities operations, we can formulate a set of activity strategies applicable to cryptocurrency exchanges. For example, the KPI target of Exchange A this year is to achieve a total trading volume of 100 billion USDT. According to the previous target experience, it is split into 10 billion, 20 billion, 30 billion, and 40 billion each quarter.
Assuming that the target for the first quarter is 10 billion trading volume, then the trading volume of 5 billion to 6 billion should be completed by conventional activities, such as referral rebates, community KOL's excitation, universal fee rate adjustments, and listing of new assets. If regular activities fail to reach the expected transaction volume, the underlying strategy needs to be adjusted in a timely manner.
The other part 3 billion to 4 billion trading volume should be completed by periodic activities, such as FastTrack, Prime, etc. After each event, review the market to confirm whether it has reached the expectations. If it does not meet the expectations, a solution needs to be given immediately, and strive to resolve in the next event.
3.Activity Minefield
When doing operational activities, it is often unavoidable to encounter various types of minefields. The following summarizes some common types of activity minefields and proposes corresponding solutions.
Trading competition minefield
Trading competitions usually form trading hotspots and stimulate users to trade. The trading competition period should be the best period for the user's trading experience. We expect users to feel the excellent trading experience of the exchange during the trading competition and then stay.
In order to obtain trading competition rewards, users often do self-trading or wash trading. They use the price gap of the market to make crazy transactions at the middle price, which will cause the trading volume to skyrocket, but no change in liquidity. After entering the market, normal users find that the trading volume has increased sharply, but they cannot trade. At this time, they will question whether the exchange cheats. In addition, because there is no trend in liquidity, users cannot trade freely and users cannot obtain profits as well. As a result, they will have poor trading experience. This directly leads to the damage to reputation of the exchange and the losing users, so trading competitions should strictly limit the self-trading and wash trading.
Net deposit activity minefield
The purpose of net deposit activity is to increase asset precipitation of the exchange and prepare for subsequent tradings by using a certain cost. However, the goal of this activity won't be reached if users use internal transferring. For example, both acount "A" and account "B" are registered accounts of the same
exchange. If "A" transfers assets to "B", "B" may get rewards due to the net deposit activity, but the assets of the exchange doesn't increase. As a result, this activity will not bring asset precipitation to the exchange, resulting in wasted activity funds, and they will not be able to obtain transaction-level dividends due to increased asset precipitation. The behavior transferring from "A" to "B", we call it "Internal deposit". Therefore, anti-"internal deposit" strategies should be set up for net deposit activity to limit users' internal transfers and guide users to deposit assets from other platforms outside of the exchange.
In addition, the main point of the anti-"internal deposit" strategy is to set a certain threshold to limit the wash-trading, but the user's normal deposit and withdrawal requirements shouldn't be affected. It is suggested that the withdrawal limit can be adjusted appropriately. Not only the net deposit amount, but also the data of the user's account position should be considered when giving a user rewards. In this way, most of "internal deposit" behaviors could be avoided, and other users can deposit and withdrawal normally as well.
Bonus hunters
Bonus hunters refer to users who exploit rule loopholes to maliciously obtain rewards. This type of user is generally a machine registration, active only during the event, and usually a silent user.
For such users, exchange operators can establish a bonus hunters database and update it regularly. Exchange can indicate in the event announcement that if users get the reward maliciously, they cannot get the reward. At the same time,
synchronize it with colleagues in relevant departments such as customer service and key customers, and take measures in advance.
4. Activity funds source
For the operation activities of cryptocurrency exchanges, the activity funds generally come from the project party or the exchange itself, and the form of funds is usually tokens of the project party participating in the activity and USDT.
Project party
For the project party, the purpose of sponsoring the activity is to increase effective users and increase the popularity of trading across the network. If the activity itself can bring more users to the project party or increase trading heat, the project party is usually willing to sponsor the event.
Activity costs are divided into security deposits and actual activity costs. The security deposit is based on the agreement and can be refunded after the event. The actual event cost will be directly consumed and will not be refunded.
Exchange
For exchanges, the purpose of providing activity cost is to attract new users, increase asset precipitation, and stimulate trading volume (especially at milestone nodes such as halving and fork), exchange hopes to use less or
controllable costs to attract more users, and gain transaction fees by directly or indirectly stimulating trading volume.