FLASH Marketing Proposal: Flashstake a Tesla

Today, there was a nice debate on how to grow marketing for FLASH. While reading the discussion, I had the following idea some people really liked. So, let’s see what all of the community says.

Look, we once had this tweet: https://twitter.com/Flashstake/status/1360437685505122304

What if we made a marketing stunt and actually flashstaked a new Tesla with the Foundation Funds?
At the moment, the Foundation Fund includes pretty exactly 1m FLASH.
Flashstaking them all at once, they would need to be locked 60-70 days, generating 21-23 ETH upfront.
Enough to purchase an actual Tesla Model 3.

My proposal is to give away this car to one lucky person. Why?

A giveaway like this could…

… make a big impact in the crypto space, since it’s a giveaway which has no one barely seen before (and which is actually legit, lol)
… attract many new people, since it’s likely a giveaway like this would be talked about in crypto space pretty much
… be a great opportunity to educate people about the potential and mechanics of flahstaking and upfront yield
… attract Elon Musk himself and unleash insane marketing potential.
… be a huge giveaway that has literally no cost for anyone.

If you like the idea, the big question is how the rules would look.
There are some options I thought about or read about on TG, but maybe you have even different ones!

Option A
One Tweet. Retweets count as entry, one lucky winner.
I must admit, I’m a fan of that. No barriers, probably very high engagement.
Cons: It’s not guaranteed that people look at Flashstake, bad actors with multiple accounts have bigger chances.

Option B
Raffle among FLASH holders.
Would bring buy pressure on FLASH, but has no effect on the protocol itself. Could also look a bit “shady”.

Option C (mentioned by Zachary already)
Raffle among everyone who is participating in the Flashstake Dapp. Higher flashstaked amount gives more tickets.
Pros: Gives huge influx of people interacting with the protocol, makes people understand the protocol by interacting with it. Only people who are serious about the giveaway and FLASH are eligible.
Cons: Creates an extra barrier. People with small wallets have way less chances than whales (in an inequal world, something ‘different’ would be cool). Rules would need to be explained very well.

No matter which option it would be, I see good possibilities for severeal strong Twitter (e.g. commenting under Elons posts) and Reddit posts, Youtube videos or even influencers who talk about it by themselves.

What’s your opinion? Do you have better ideas on how to make the rules? Or any cons I didn’t see yet?

17 Likes

What about create giveaway on reddit ?
Last giveaway on r/moonshots (not remember what token) was less ambitious (raw 10k$), but got 16k comments in thread.

Technically flash is pure moonshot.

If we talk about twitter, we need to bring people with large amount of followers, and they must be related to crypto (specially defi space) so we can spread the word.

1 Like

Great idea. I prefer option C.

If we gave an equal entry to any entrant then people would just set up multiple wallets and enter 20x anyway. Fairest way is to weigh entries by amount of flash in the protocol (staked or Liquidity).

Would be so powerful telling the world about this in the weeks beforehand.

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Just an idea, but lets say there was a time limit of 7 days or whatever and anyone who flashstakes in that time frame for longer than 30 days would gain 1 entry per every 1 FLASH staked. That way the dapp gets adoption, the protocol benefits by having more FLASH locked up, and the chances of a supply shock would increase driving up price. I’m not sure how to combat users who already own FLASH from staking, or if we would even want to prevent that since they could buy more or unstake and restake to enter which both benefit as well. But just wanted to throw that out there as a starting point regardless.

I vote for option c.

With equal opportunities for everyone (new users).

And for new users (who flashstake) only. So new users could thought they have fair chance of winning this. This will capture new eyes and bring new capital in the protocal.

I like the idea.
Why wait to pay in BTC if you can buy today with Flash?
Would like to Co ordinate the viral campaign, do we have any spin docs planners or some whitepaper strategy on this? E. G 10 Tips for How to Make Something Go Viral Online
Is there smthg else that is more relevant for tomorrow than a Tesla? Buy rain forest in Brazil?

Probs I see:

Global delivery and owner registration of car?
No idea about the treasury and how this idea impacts economy?

2 Likes

Great idea. I propose a hybrid of option 3.

Option 3, but with the caveat that all addresses who took part in the migration also get included without needing to have previously flashstaked.

This way we lock in our early adopters and don’t require them to flashstake potentially small values that they hold for high gas fees, while also encouraging new people to take part in the protocol.

Don’t have much to add, but honestly love this idea. Option C definitely makes the most sense. Gets people to interact and get familiar with the protocol. I hope this keeps picking up steam.

Also I agree with Dash: only new flashstakes should be able to participate. It’s sucky as someone who has already staked, but it’ll bring in a lot more new stakes, rather than give the current citizens a significant edge.

2 Likes

Option C but modify it. To everyone who has interacted with the dapp. Staking/pooling/swapping. Which would put your wallet on a white list / or (optionally) mint an NFT with a picture of a tesla on it which would act as your ticket. It would create a at least a hedge against whales because they’d have to go through the effort of spending gas on each wallet etc. And this would allow smaller players to participate much more evenly. Ideally most people would stake but even if they don’t hopefully they would at least read about the project.

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I love this idea, I would definitely be on board with this!

I think the best way to do this would be option C, BUT without giving more tickets based on amount.

I think we should give every wallet 1 ticket that has interacted with the Dapp with over $250 in value, whether its providing liquidity, staking, or purchasing FLASH, each gives an equal chance to win. This would include those who already have a current stake V1/V2. I think that would be the best way to incentivize new users to get involved and also mitigate whales having an edge over the rest.

I believe the high gas fees would work to our advantage at the moment, this would mitigate people using 100 different wallets just to qualify.

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For the sake of discussing here, let’s call these “Credits”. 1 Credit = 1 Raffle Ticket. My thoughts on this proposal:

  1. Credits earned from staking should = Flash Power metric = (Total Flash Staked) x (Total Days Staked). This way someone staking 1 Flash for 100 days earns the same # of credits as someone staking 100 Flash for 1 Day or 50 Flash for 2 days.

  2. Credits earned from LPs probably needs to be included too. Winning a Tesla is a big deal and would really encourage all LPs to remove liquidity to use their FLASH in liquidity to stake instead, if we only gave credits for staking. This could cause a huge vacuum effect and we don’t want to discourage LPs.

  3. Proposed credits for LPs = (Total FLASH provided as liquidity, per day, from daily snapshots, in both UniV2 and Flash Protocol) x (500 / [Total Days valid for entries]).

  • Current max stake duration is 570 days. If I have 100 FLASH provided as an LP, then based on this post’s math:
  • if I STAKE it for max duration it would earn me (570 x 100) = 57,000 credits
  • If I leave it as LP and it averages around 100 FLASH per day for all days of the event then I would earn (100) x (500 / #DAYS) x #DAYS = 100x500 = 50,000 credits.
  • This means I might earn slightly more credits for STAKING than as an LP (50k vs 57k) but if I leave it as an LP I am still earning fees on all of the stakes and swaps and any other possible Liquidity Mining events going on.
  1. We should define a start and end date of this event. I trust that Dash or other people probably have a clearer idea on how long something like this should be. I would guess it needs to be for at least 1 week but no more than 1 month. We need enough time to get the word out and hype it up, which makes me think 1 week may not be long enough. To be able to say “For the month of April…” and rules stipulate UTC time, then it’s pretty easy to understand. If April is too short of notice, we could prepare this to be for the month of May?

  2. Which model of Tesla?

  1. We need to define how Unstaking early during the event period will affect your credits earned. Should it A) disqualify all credits earned from that stake or B) be proportional credits. If proportional, I propose the math works like this:
  • Staked 100 FLASH for 100 days. Unstaked early after 10 days, 90 FLASH is burned. Credits earned = (100 FLASH x 10 days) instead of (100 FLASH x 100 days) as was originally staked.
4 Likes

We should definitely go for the Model 3. Model S would be nice, but it’s pretty steep lol.

I think it’s best to keep things as simple as possible, that way we make it easy for potential new citizens to fully understand how to qualify. Each action could qualify an address to be whitelisted for the raffle.

Example:
#1 Provide $250 of liquidity for 30 days
#2 Flash Stake $250 worth of FLASH for 30 days
#2 Buy $250 of FLASH from the Dapp and hold it in your wallet for 30 days.

Obviously, these figures are subject to change based on the community feedback, but this is a rough idea that would be easy to understand.

Also, I love the Tesla NFT idea that would represent a ticket, that could be really cool to explore. Heck, we could even give the winner a special NFT that would represent this special historical event. Perhaps even somehow attach the real-world tesla to this NFT tesla somehow, perhaps its VIN number, just an idea.

one last thing, if we do this, we need to somehow try to notify Elon on Twitter lol.

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I think this needs to be simpler, the idea isn’t to incentivize huge putthough persay but to get the word out on the project. If you can get people to try the system for themselves that’s pretty powerful as is.

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this is a great idea i believe the tesla should be use to give back to the community on a level playing field and persons who flashstake, provide liquidity and hold a certain amount of flash should qualify.
Persons who do all, have extra tickets/points and take a random snapshot for persons who have held flash for long time and award credits/point accordingly.

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It’s an awesome idea. I think this could definitely be huge.
I vote for option c.

I’d go with option 3 but add afew cravats:

  • minimum wallet balance 100 flash staked for 30 days minimum.This makes it affordable and accessible to most. Eth fees will likely be high so we need to take this into consideration. Also we can highlight that people get their flash back at the end of the term which should cover fees if they wish to sell after the take term is up. But it highlights flash as a use case.
  • min Xio balance 100. We should support BZ labs as we are all prt of the same ecosystem. This will
    Also bring some attention to BZ labs. Good for everyone! 100 Xio is affordable.
  • 1 retweet from a verified account. Easy enough to do and adds an extra layer of effort to cut down on people using multiple wallets.
  • The main issue with people having many 100 flash/wallets needs to be addressed in more depth. Open to suggestions on this.
  • weighted ticket amounts based on holdings and stakes like zach has mentioned. People willing to
    Lock up for max term for example should have a better chance of winning.
  • extra weighting for people who push the marketing for this. We could use our xid’s as a kind of referral reward.
    Just a few thoughts please feel free to add more
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Neither for nor against this idea, but just curious as to when you’d think the Foundation Flashstake would happen in this scenario?

Would it happen before the competition? or afterwards?

If before, then it’ll severely affect the FPY, making the competitors’ Flashstakes less lucrative.

If after, then the competitors’ Flashstake might swing the percentages enough that the Foundation Flashstake might not be able to gain enough to purchase a Tesla.

1 Like

Either way - the actual foundation staking needs to be a big deal. Live screenshare of the operation. Full of max promo going on with a countdown to stake / launch. Promoted live stream. Then the competition can launch.

I would say before, so that people can actually see that it works and that the reward already is in the wallet ready to be sent. I think that this would look more trustworthy to people not familiar with how the protocol works and to whom this might look very magical and shady. This also why I agree that it would be important to capture it all on a live stream made by Zach.

In addition, I think that we should also include holders, people that don’t want OR can’t buy more than a few flashes so that a maximum number of people can participate and don’t feel excluded because they aren’t rich enough. As we are a very community focused, including everyone is a very important thing in my opinion. Of course, their chance should be calculated in such way that it wouldn’t be worth for a whale to split its funds into many wallets. Having the exact amount of flash stacked or even better in the LP should obviously give you a much better chance to win.

After this, we could make this a monthly thing or quarterly if monthly is to often (with a much lower reward of course) where every staker or liquidity provider can win the reward (no holder in this case) which I propose to be in XIO instead of ETH to bring maximum visibility to BZ