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This podcast explores the purpose and evolution of points in the crypto space, discusses the value and trade of airline miles, and examines how points are being used in various cryptocurrency projects to incentivize users and boost growth. It also delves into the legal and regulatory implications of points, as well as their potential transition from tokens. The podcast concludes with a discussion on the risks associated with points and features ads from sponsors Mantle and Cello.
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Quick takeaways
- Points in the crypto world provide flexibility and experimentation before issuing a token, allowing for innovation and gradual community development.
- By issuing points instead of tokens, crypto projects can engage in marketing activities and attract users without navigating complex token regulations.
Deep dives
Points as a New Incentive Primitive in Crypto
Points in the crypto world are a new innovation where tokens are issued on centralized databases. The use of points has become popular in the crypto space, with many projects jumping on the points game. Points are earned through on-chain actions and can also be assigned for non-blockchain use cases. These points can be redeemable for underlying ERC-20 tokens in the future, making them similar to off-chain derivatives. Points allow for scalability and incentivize user behavior, but their issuance and the potential conversion to tokens are at the discretion of the point issuer.
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