Protocols are successful in achieving long term adoption by fostering a strong and lasting community. Achieving this requires:
•A positive narrative surrounding the product to attract initial users
•An excellent product that encourages those users to stay while also recommending it to others
•Incentive mechanisms to further attract and retain users
•Effective governance to ensure the product can effectively adapt to changing market conditions.
While DDX is of course a decentralized governance token, I believe that the inclusion of additional incentive mechanisms (i.e. in addition to being able to participate in governance) would help improve the narrative of the project, draw in and retain additional community members to use the product, and contribute to broader distribution of the DDX token and thus decentralization.
I would like to propose consideration by the community and developers to consider options for DDX incentivization such as:
• Staking DDX in exchange for a portion of network rewards to encourage a broad governance base +/- higher incentives for those actively involved in governance.
Short - Medium Term
•The ability to deposit DDX in order to contribute to liquidity mining for the insurance fund
I’m hoping this helps spark some community discussion and look forward to the success of DerivaDEX.