Ethereum Wallet Rainbow Unveils Innovative Rewards Program, Navigating a ‘Fox Hunt
Ethereum wallet Rainbow has unveiled its Rainbow Points rewards program, positioning it as the inaugural step towards involving its community in the platform’s future success.
In a departure from traditional airdrops, users received points based on various on-chain activities, including wallet balances and the switch from MetaMask to Rainbow. Notably, the program allocated extra incentives to users who held at least one Rainbow NFT at launch. The reward structure echoes the successful model employed by Blur, a prominent NFT marketplace, which garnered substantial market share from OpenSea through a similar points-based strategy culminating in the BLUR token airdrop.
In a lighthearted move, Rainbow reframed its initiative as a “fox hunt” rather than a conventional “vampire attack,” playfully targeting MetaMask’s iconic fox mascot. While the Rainbow Points program hints at the potential for a future token airdrop, the platform is yet to provide official confirmation. This approach aligns with the prevailing trend in the DeFi space, where airdrops serve as an effective strategy to incentivize user participation and foster loyalty within the community.
Clever Robot News Desk 15th December 2023
