The Freeloaders Rise from the Grave
I want to start by celebrating everyone’s First DAOween!
Have you noticed the zombies walking around us a few days before Halloween? I’m not trying to scare you (Ok, maybe I can scare you a little 😊 ) I’m talking about the freeloaders surrounding us. Freeloaders, we inherited from bounty hunters. But their past is almost as old as the history of humanity. They exploited society thousands of years ago when mankind moved to sedentary life. They came back again on Halloween! First, they killed the bounty hunters, now they’re attacking our DAOVERSE. Are we going to allow it? Never! The social miners won’t let the freeriders come alive again and eat their sons!
Without deepening the topic of fighting freeloaders, I should explain the term bounty hunter and how bounties cause the proliferation of freeloaders. in 2017, Projects that realized the value of crowdfunding began to take advantage of the power of Blockchain technology-savvy communities on social media to reach individual investors and increase their awareness. The logic of this exchange was simple and seemed to benefit everyone. There was a curious and very active audience trying to understand the Crypto Market. These people also used social media a lot, especially social media mediums such as Twitter and Facebook. The projects gave this community a promotional task and in return distributed the token of the project as a reward. The expected benefit was the increase in the value of the project token, the awareness of which increased. So win-win.
However, in reality, things did not go very well. There is more than one reason for this!
1- Bounty hunters did not have information about the content of the project because they were promoting too many projects at the same time. In this case, they wrote, “Good Project” or “Great Project” on each project. This method has created a promotional activity that resembles bot behaviour and is far from believable.
2- Bounty hunters didn’t need to learn the project because they were going to sell the tokens they won on the day it was listed. This created a dump of the project tokens that they did not deserve.
3- But the main problem was that bounty campaigns allowed forming a large group of freeriders, which we call freeloaders. These opportunists have discovered the use of multi-account. Installing multi-bots, caused projects to distribute too many tokens to promotional activities that did not happen. These tricks existed until the dumps reached dramatic degrees and the projects disappeared before they were born.
A freeloader, in the broadest sense, is a person who collectively benefits without contributing to the cost of production. Since the first city-states, (even since the first communities of sedentary life), they were the ones who enjoyed advantages such as security and social assistance in every community established but did not fulfil their responsibility. The desire to have a collective benefit without paying this cost, which is inherent in man, is the subject of study by many political scientists, economists and sociologists. Let me share with you a very comprehensive research I have read on this subject today.
The Free Rider Problem
The strategic structure of the logic of collective action is that of the n- prisoner's dilemma (Hardin 1971, 1982a). If…
Conclusion: The project promotion campaigns planned to be carried out using the power of the community with bounty and airdrops have failed or caused enormous damage to the resources of the projects.
Well, What is the solution?
To give awareness studies to professional advertisers? Perhaps it can be used in an aggressive campaign process, but professional advertising campaigns by advertisers are a huge cost burden on projects. And they can’t be as organic as real blockchain enthusiasts.
While these dilemmas were being experienced, a marketing company, including the founders of DAOLabs, showed a new way in the blockchain field with the concept of social mining in 2018. In its simplest definition, social mining is to create a loyal community of a project and mine tokens by participating in promotional activities on social media about the features and developments of the project.
So how can social mining take precautions against these freeloaders?
Don’t some people who are attracted to freeloading, which is one of the flaws of human nature, also hide in the DAOVERSE and try to steal from the value produced by the group?
The DAOLabs platform software of social mining has taken many measures against people who tend to act in this way.
> First of all, each social miner registers with a unique wallet address, Telegram Twitter, Email address and unique username.
> DAOLabs software can check tweets against plagiarism. And it does RT checks of tweets.
> In case this standard software can be circumvented, social miners have both difficult and original tasks that cannot be commissioned for bot accounts, such as gif design, creating infographics, designing pictures and stickers, or writing articles that require many special skills. If at least one of these original non-replicable tasks is not performed, you will not be included in the platform reward list. Thus, your chances of freeloading benefits decrease a lot.
> Social Mining contributes to the seed investment processes of a new project with properly selected managers. Manual checks by community leaders create significant benefits here. We all know that freeloaders spend their energy finding vulnerabilities in software instead of contributing to social good. Therefore, attention should also be paid to the selection of community managers. Let’s add a sentence to this from our self-control. We see dozens of project tweets every day, and while reading the tweets, rice the really valuable ones with likes and retweets, let’s warn those who give plagiarism or false information. Remember that the value of your correct and positive tweet loses its effect with a bad tweet. This loss means that the project you are working on is damaged. (So you will also hurt)
> One of the most important advantages of Social Mining over bounty campaigns is that it develops a community that is loyal to the project. It provides loyalty with 2 important features.
First, miners participating in the social mining promotion activity must have a symbolic amount of project tokens in their wallet, which is constantly controlled by bots. And people are the most sincere promoter of the project, in which they are investors.
Secondly, miners, who carefully examine the project for information and article tasks that require information, also get closer to the project team. Working for the same purpose creates a high sense of loyalty over time. Thus, the projects grow with the energy of a strong community attached to them from the very first days, while also having the most loyal holders.
A personal example for you: Since 2018–19, as a miner, I have worked on the establishment and expansion of the community of many projects. Some of the tokens of these projects are still in my portfolio. Those are my babies. I raised them all…
Vampires who suck the blood of bounty hunters, whom we buried in history with social mining, are now attacking social miners. Let’s not let the freeloader zombies try to revive at the Halloween fest! Are we ready to fight for DAOVERSE? Let’s deal with these parasites. Let’s kick out the freeloaders who are trying to decamp social miners!
Thank you for reading.
DAOLabs Community Member: ipek