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Strong projects were re-discovered by the community in the recent bull market. Those projects saw a surge in new investors/users, which lead to growth in user counts, TVL, and saw healthy increase in price further boosting the project and creating a positive feedback loop.
It did not matter when the project was conceived.
As long as the project was legit, and the team was working hard, the community was able to spot it sooner or later and the projects got the love they deserved.
As long as the project was legit, and the team was working hard, the community was able to spot it sooner or later and the projects got the love they deserved.
And that community in turn worked hard to promote the project, and more people discovered the project. An infinite positive feedback loop.
I've been a supporter of @helloiconworld since 2017, proud of the team, never sold any $ICX and accumulated more over the past 4 years. And as time went by, I've started to notice how undervalued it is.
And by undervalued, I mean that there are so many OG investors supporting #ICONProject, but no newcomers to inject new energy into the project. It's a stale water.
A huge incest of OG investors and team to put it dramatically.
A huge incest of OG investors and team to put it dramatically.
Just like low birth rate is a huge crisis to a country, no newcomers in a project is like a death sentence. A company cannot thrive without new employees and interns, it just becomes an outdated company that dies off even before they notice.
So is a blockchain project, we need new supporters who can bring in new energy and dynamic to the project.
There are few things we can do about this.
And the fixes are not that difficult tbh.
There are few things we can do about this.
And the fixes are not that difficult tbh.
A) Use of easier terminology
- Over the years @helloiconworld has developed a lot, really a shit ton of things. But ICON lexicon is not for the faint-hearted. They are difficult, not intuitive and sometimes even pretentious.
Simplify them and use generic terms when applicable.
- Over the years @helloiconworld has developed a lot, really a shit ton of things. But ICON lexicon is not for the faint-hearted. They are difficult, not intuitive and sometimes even pretentious.
Simplify them and use generic terms when applicable.
- Just take a good look at the latest weekly roadmap update.
https://medium.com/helloiconworld/icon-development-roadmap-update-march-2021-8d66f3a5edad
BTP? Call it interoperability solution.
Alphanet? why not stick with good-old testnet.
BTP working group? That should be an internal terminology.
The list goes on but you get the point.
https://medium.com/helloiconworld/icon-development-roadmap-update-march-2021-8d66f3a5edad
BTP? Call it interoperability solution.
Alphanet? why not stick with good-old testnet.
BTP working group? That should be an internal terminology.
The list goes on but you get the point.
- The team needs draw a clear line between internal lingo that the team uses for;
work efficiency vs consumer facing terminologies
which in most case, simpler the better
work efficiency vs consumer facing terminologies
which in most case, simpler the better
- I understand the teams' enthusiasm in obtaining proprietary terminology, so that in the future, #ICONProject may be known as "that Korean project that first built blah-blah".
But now is not the time. Lightining cable became a thing because Apple made it. If Xiaomi made their own "thunder" cable and tried to make it mainstream, the company would be non-existent at this point.
B) Up-to-date marketing strategy
- @helloiconworld does not seem to be spending much on marketing. I don't mean that you should be hiring marketers. This space doesn't work like that anymore. The team just needs to be more up to date on #trend and #memes
- @helloiconworld does not seem to be spending much on marketing. I don't mean that you should be hiring marketers. This space doesn't work like that anymore. The team just needs to be more up to date on #trend and #memes
- The naming choice of @SushiSwap and the use of cute emojis
on their LP pools was a huge key to their success. People like pretty things. Add a straight forward UI/UX on top of that, ppl just start using it.
on their LP pools was a huge key to their success. People like pretty things. Add a straight forward UI/UX on top of that, ppl just start using it.
- And regular one-way announcement doesn't cut it anymore. People choose brands that listen to them. They want to be heard. @FTX_Official is one of the many examples. They are adept at picking up trends and signs from CT and elegantly applying them on their exchange/projects
- Having said that, @SBF_Alameda is one of the best at spotting trending projects. @terra_money saw a huge surge in newcomers after FTX listing. A Korean project, born in Korea, made by Koreans.
There must be a reason why $ICX is not picked by FTX
There must be a reason why $ICX is not picked by FTX
- Even during the past few weeks of crazy speculation w/ huge Kimchi premium, $ICX never saw the light. Not even Koreans chose $ICX on upbit. It's at ~$10M daily volume, which is ridiculous when some rando bs kimchi project is trading at over $500M.
- I also experienced firsthand how hard it is to lure my friends and family, who instead opted for other project with clearer value proposition and hook. $ICX needs a more concise and easy to understand value proposition.
- A meme is worth a thousand words. You all need to become a meme connoisseur. Maybe take a break from developing for once, spend some time on twitter and the internet, see what ppl are posting, internalize what's trending and see how you can leverage that for ICON's growth.
- Just by fixing the above few points, supporters will follow, influencers will influence.
A positive feedback loop achieved.
A positive feedback loop achieved.
C) Transparency is more important than ever.
- Transparency is key. Actually things are pretty transparent with ICON. Maybe except what's happening between ICONLOOP and the foundation. Investors and supporters have all the right to know what's happening.
- Transparency is key. Actually things are pretty transparent with ICON. Maybe except what's happening between ICONLOOP and the foundation. Investors and supporters have all the right to know what's happening.
- A huge part of this will be solved by solving 1 though.
We'd just have easier time understanding what you are saying.
We'd just have easier time understanding what you are saying.
Having said all that, I'm very thankful for what the team has done in the past few years. We've came far and the team deserves more attention and love. And we will get there. I have no doubt in that.
There are many #ICONProject experts that knows so much more than I do. Hope this tweet kickstarts a healthy constructive conversation on how we can improve this. 
Sned it $ICX
@minhokim
Sned it $ICX
@minhokim
