[IMPACT]
Tip Genius is a browser extension that shows relevant, bite-sized tips to help navigate users through crypto. Incentivized learning programs can be integrated into the platform to push education of important concepts. Milkomedia is an EVM-sidechain that replicates Ethereum - you can use the familiar Metamask with copies of top Ethereum projects, with much lower fees. It’s a bridge that makes migrating from other blockchains, such as Ethereum, to Cardano easier, while functioning as a temporary scaling solution for Cardano. The goal of this proposal is to motivate both users and projects to walk that bridge into the Cardano ecosystem.
Tip Genius tips come in the form of short videos which showcase exactly how something would be done and a description with a sentence or two of complementary details. They offer straight-to-the-point directions and information live based on your interactions with a dApp, making learning accessible, effective, and safe. The content is strictly educational on how things work and doesn't provide financial advice. Tips are audited by reputable community members/groups so you can be assured you’re getting quality information.
Crypto is undoubtedly difficult to understand and navigate. People aren't used to being their own banks and the UX is lacking. To make things worse, the cost of error is astronomical - one bad click and you can lose all your money.
People aren’t eager to migrate to new chains and ecosystems since it requires them to leave their comfort zone and risk asset loss. Liquidity mining rewards help justify this risk but end up primarily attracting mercenary whales who leave for the next highest bidder as soon as incentives run out. The key to long term success is moving over a large number of actual users and familiarizing them with the ecosystem.
Tip Genius will soon be introducing the ability to host incentivized learning programs through it’s browser extension UI. This would look similar to Coinbase’s “Learn and Earn” (https://www.coinbase.com/earn), where users are paid to learn about certain protocols. This can be used to attract and grow a sticky base of actual users. Incentives will stimulate movement of users, then the trusted how-to tips will welcome people into the ecosystem and minimize risk of asset loss.
This proposal is for funding incentivized learning programs for protocols on Milkomedia as well as bridges to both Milkomedia and Cardano. These programs will help grow the Milkomedia user base and provide a fertile ground for Ethereum based projects to migrate to the Cardano ecosystem. Plus, early protocols will benefit from having instructional content made for them.
Incentive programs will also highlight the value of Catalyst since this public good for the ecosystem would otherwise not be possible. Milkomedia and the Cardano ecosystem will be the only to include an integrated crypto coach.
Tip Genius was funded through Catalyst Fund 7 to build the base application and create 500 tips for top protocols on Cardano. To reiterate, this proposal is specifically for funding incentivized learning programs.
Tip Genius is also an automated coach for competitive video games. It uses a similar teaching style of accurate, high quality, and straight-to-the-point tips live when you need them. Tip Genius for Valorant can be downloaded here : https://www.overwolf.com/app/Ben_Mesnik-Tip_Genius_2.0
An incentivized learning program hosted through the integrated Tip Genius browser extension will boost the number of sticky users migrating to Cardano and the EVM-sidechain Milkomedia. People will not only get paid to learn how to migrate over but they’ll be comforted and eased into the Cardano ecosystem. The value they’re paid will then very likely be retained within the ecosystem. Protocols looking to move to Milkomedia/Cardano will have a strong user base awaiting them.
What is the cost of acquiring a new user and how sticky will the average incentive program user be? This is something that will need to be measured in practice, but I expect it will be a healthy ratio.
Considering dApps on Milkomedia are EVM-based and not Plutus native, the benefits of Cardano, such as the security improvements of a UTxO based blockchain, might not be immediately obvious. Tip Genius tips, sponsored through Fund 7, can ensure these advantages are explained.
[FEASIBILITY]
In the next 0-3 Months
- Tip Genius released with 500 tips for protocols on Cardano
- Implementation of incentivized learning program infrastructure
In the next 3-6 Months
- 175 tips made for 10+ protocols on Milkomedia
- 25 tips made for bridges to both Milkomedia and Cardano
- Incentivized learning program for protocols on Milkomedia released
- Incentivized learning program for bridges to both Milkomedia and Cardano released
$40k in Ada incentives for users to learn how to use protocols on Milkomedia
$20k in Ada incentives for users to learn how to use Milkomedia and Cardano bridges
200 tips * $25 per tip = $5000
- 175 tips for 10+ protocols on Milkomedia
- 25 tips for bridges to Milkomedia and Cardano
Tip audit costs = $3000
Hosting/Administrative costs = $1500
Total = $69500
Ben: Founder of Tip Genius, a Plutus Pioneer, Developer, and Blockchain enthusiast
First Cohort Plutus Pioneer class photo:
https://pool.pm/asset1yvdd8q7pw0jt5tfj00zuddmxvy44fzcfqzms5n
[AUDITABILITY]
Progress can be measured through the number of tips created, the number of total users educated through the incentivized learning programs, and the number of wallets that received incentives payouts that are still active after 6 months.
Success looks like 20,000+ users educated through the incentivized learning programs with >50% of wallets that received incentives payouts still active after 6 months.
Tip Genius was funded in the previous Fund 7 to create the base application and 500 tips for Cardano mainnet protocols: https://cardano.ideascale.com/c/idea/384443
