Bifrost Loyalty Program Rainbow Boost 3.0 Highlight Review

DeFi Summer in 2020, NFT in 2021 is hot, and the market that has been singing all the way will come to an abrupt end after 2022. Everyone’s discussion also went from All in to sharing the bear market hedging guide. It is said that the cold winter of the blockchain has come, and guaranteed income seems to be the choice for most investment. However, in the precipitation period of the blockchain field, we believe that the best investment opportunities may be born in the bear market.

Regardless of the bull and bear market, Bifrost provides liquidity release solutions, builds and promotes the development of StakeFi from the perspective of community users, and also brings more investment opportunities and application scenarios under the premise of ensuring investors’ returns. Since this year, Bifrost’s dedicated community loyalty program, “Rainbow Boost”, has completed its third round of activities. Received positive feedback from the community and attracted more users to follow Bifrost. Let’s take a look back at the activity and highlight data of Rainbow Boost 3.0 since its launch.

Rainbow Boost

Rainbow Boost, officially launched in May 2022, is a system for marking, integrating and incentivizing address behaviors on the Bifrost chain. Raindrop is designed as a quantitative standard for behavior, which can effectively reward users through ranking data, which can be understood as a point system. Raindrop (raindrop) can only be obtained if the participating address meets certain behaviors within the Rainbow Boost open window period, and can be used to prove the activity and participation of the address in the community.

Rainbow Boost will be opened according to cycles and specific behaviors, and will issue or deduct Raindrops for different behaviors to achieve quantitative records of address behaviors. After the start of each round of Rainbow Boost, the accumulation and distribution of Raindrops will be carried out according to the basic rules and bonus rules of the activity, and will be recalculated and accumulated after the start of each round. This setting allows users, especially those who are new to the community, to rank on the same basis as old users to the greatest extent possible during the latest round of Rainbow Boost activities based on their encouraged behaviors and contributions during the cycle.

The third round of the Rainbow Boost event starts on August 8th and ends on August 23rd. The 15-day event will feature multiple optional event missions such as Raindrop airdrops, friend invitations, and vKSM farming. First of all, it is worth mentioning that on the basis of the first Rainbow Boost, the third Rainbow Boost also has multiple rounds of airdrops and rewards.

A new invitation mechanism has been added. Based on the positive feedback in the first two rounds, an invitation mechanism has been added on top of the previous Raindrop rules to promote the spread of the event and encourage more users to join. Invite any friends through the invitation mechanism. After each invited friend successfully claims 2000 Raindrops, the inviter and the invitee can get an additional 1000 Raindrops. This rule greatly reduces the participation and income threshold of Rainbow Boost 3.0, so that the invitation is the income, and the participation is the income.

The third round of Rainbow Boost took advantage of the first two phases to bring multiple investment options to users, and also achieved good community feedback. Judging from the data, during the event, the minting volume of vKSM during the event was as high as 52,235 vKSM, with 8,275 participating addresses, and a total of 918 inviters received 1,000 Raindrops as an invitation reward. During the event, the amount of KSM staked reached 56,891 KSM. Among them, the total points of Raindrop claim reached 179,020,021.

Community Loyalty Program

With the launch of Rainbow Boost and the design of the Raindrop points system, users are more proactive in encouraging investment behaviors to gain the accumulation of Raindrop. This stimulates market behavior and enriches the application scenarios of investment. At the same time, it also allows us to see the decentralized community construction of the blockchain, allowing the benefits to be shared by users who actively participate in and build the community. Bifrost brings an excellent community loyalty program from the following points:

Raindrop Point System

An effective loyalty program will combine user consumption data and behavioral patterns to provide users with a more personalized and specific experience. Rainbow Boost was launched as part of a community loyalty program. The design of Raindrop enables a quantitative contribution record in the decentralized community, which is the behavior data of users in the community and ecology. The common participation, co-creation, participation and contribution of users with equal rights and levels is an important part of building a community and enriching the ecology. An effective point system makes these behaviors visualized, calculable and accumulative, so that users can obtain corresponding rewards and recognition, which is also an effective means of two-way promotion between the community and users.

Back to Asgard NFT

Besides Rainbow Boost, another important component in the community loyalty program is the Back to Asgard NFT program. This NFT was specially invited by Bifrost to SFY as the design team, and is an unique NFT program for users who actively participate in the community. After the first two rounds of Rainbow Boost activities, 50 NFT whitelist places were released according to the total ranking of Raindrop in the two rounds of activities, and 100 whitelist places were released in the third round of Rainbow Boost. A total of 1,000 NFT whitelists will be issued in different periods. Users who hold the Back to Asgard NFT whitelist can enjoy discounts on NFT incubator purchases. In the future, holding Back to Asgard NFT can enjoy a number of user rights including lucky airdrops, double points, and exclusive customer service.

The launch of the Back to Asgard NFT program, on the one hand as a reward for Rainbow Boost, on the other hand enriches the community loyalty program, has become another important part. Users who hold the unique NFT in the community will have a unique identity, and in the future, the NFT and equipment in the community will have predictable transaction value and room for appreciation.

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