During the several weeks of working on this proposal leading up to the article, the Blockzero Council had many discussions on how best to move forward. While the Council found consensus on most topics, one topic in particular was more challenging to navigate: the Flashstake brand.
Today, we are coming to the community to have a transparent conversation about the Flashstake brand and how best to position the project to be the industry leader in time-based DeFi protocols.
In the article, we referenced the upgraded Flash system as “V3”. While this can continue to be how we referenced the updated protocol, we have two paths in front of us.
Path #1 | Continue
Continue the Flash brand. Stay the course. Own our story, and push the project forward with the current branding/naming in place.
Path #2 | Reset
Reset the Flash brand. Clear the charts. Reimagine the design, and push the project forward with a completely new set of branding/naming.
When the Blockzero Council doesn’t unanimously agree with something, it is sometimes because there are very polarizing opinions on the subject — extreme in both directions. That was not the cast for this topic.
Rather, all Council members were able to clearly view both the pros and cons of each path we could take and the possible implications of each. Here are just a few of the items we discussed.
If we were to reset the brand, there would likely be a few weeks needed (at the minimum), to find an alternative brand/design that we all agree upon. While the core of the code would all still be usable, we would need to redesign the site, Dapp, and Flashstats page.
This could be a very fun and inclusive opportunity, and could also be done at the same time as the protocol upgrade, but we must acknowledge the additional energy/resources this would take.
If we were to reset the brand, since the v3 token is to be airdropped, we could reset the history of the project. This includes everything from clearing the price chart history, to (possibly) distancing ourselves from any previous negative narrative around the project.
However, many counters to this point of above can be found in this article that was brought to our attention by Anthony: The Ultimate Guide to Successfully Rebranding in 2021
One of the counter-arguments in particular states:
“Covering Up a Crisis — whether you’re working against persistent internal issues or fending off bad press, a rebrand isn’t the answer. Most consumers and employees are smart enough to see right through your rebrand and recognize it for what it is — a cover-up.”
Transparent and experimentation have been core to the Blockzero brand since the beginning. To try and avoid our past could be antithetical to this belief.
For reasons not known to us, many of the industry-leading DeFi websites refused to list or acknowledge the Flashstake protocol. When we asked why, we were given very generic and inconclusive reasoning.
While the Flashstake V3 still follows the original and core vision of Flashstake to create the time travel of money, this upgrade does make some pretty large fundamental changes to the original protocol.
One, in particular, is the ability to both buy + sell directly through the protocol — positioning V3 as a true DEX that people are familiar with.
For this reason, it is possible (but not certain) that a new brand would allow us to clearly delineate ourselves from V2 — therefore increasing our chances of getting listed on these websites.
Important to note, it is also possible that we could also achieve the above goals (getting more listing/exposure) by letting these websites know of the fundamental V3 updates.
This topic is a Mental Mining campaign and we want to hear your thoughts on this subject.
If you would like to join in on the debate, we will be holding real-time discussions through our #MentalMining Discord channel.
Once you have fully formulated and solidified your thoughts, you can post directly on this post to earn Mental Mining credits.