Valkyrie Protocol: Activating Dapps to Power Cascading Referral Networks
🌐 The Untapped Opportunity in DeFi
While the burgeoning DeFi ecosystem has scaled to more than $130 billion in TVL, current data suggests that there are only 3 million DeFi users — a clear discrepancy indicative of DeFi’s huge potential yet insular state. There is a desperate need to capture the imagination of the masses, unlocking the benefits of blockchain technology for DeFi to scale to the next trillion dollars in TVL.
Valkyrie Protocol dives straight into the intersection of DeFi and marketing as a dapp activation protocol to power cascading referral networks with social and economic incentives.
🔥 Valkyrie — a Dapp Activation Protocol
Valkyrie is a superior paradigm for social referrals by enabling a continuous incentive structure, essentially creating a scalable solution to referral marketing schemes that have been otherwise one-dimensional and lacking.
Built on-chain, Valkyrie also provides the necessary mechanism to encourage participation while eliminating rent-seeking entities such as network publishers in the traditional affiliate marketing schema. As such, Valkyrie is built on the most robust and continuous user participation data and enhanced with validation to mitigate abuse by bad actors commonly found in traditional referral programs.
Ultimately, Valkyrie enables a rewardable ecosystem for all parties and maximizes incentivization with distributed governance and equity.
🗝 Key Components
The main parties involved in the protocol are:
- Campaign creators: utilize Valkyrie to achieve specified desired action and goals.
- Campaign participants & referrers: complete campaigns’ desired actions (e.g., purchases) and share campaigns with those in their network.
- $VKR LPs (liquidity providers): provide liquidity to the VKR-UST Terraswap pool, which is crucial given that VKR is used as an incentive for campaign participants.
Together, they comprise a ‘rewardable ecosystem’, in which campaign creators set an objective to increase usage of their project on the Terra network, participants and referrers take active part in the campaigns by completing the desired action (such as a purchase) and/or sharing the campaign to their community, and LPs facilitate campaigns by ensuring easy access to VKR.
💫 Running a Campaign on Valkyrie
Valkyrie’s reward structure is designed to simplify and expedite marketing for any company, beginning with DeFi protocols, wallets, and exchanges, with the vision of enabling this paradigm for traditional companies as well. Campaign creators determine the target of their campaign and the incentives that participants will receive, which will undergo governance vote and will launch once the community passes the governance poll. Campaigns can be funded through the “Booster Program”, in which selected campaigns will receive VKR subsidies supported by the Community Grant Pool. On-chain governance grants campaign transparency on both the side of creators and consumers/users.
🪙 The $VKR Token
The Valkyrie Token ($VKR) is the protocol’s native governance token, designed to linearly capture a portion of the protocol’s fees and provide additional incentives for both campaigner creators and participants. Staking $VKR tokens in governance grants users the right to start new proposals or vote in on-going polls. $VKR stakers additionally receive rewards allocated to the Governance Distribution schedule, as well as a portion of the fees charged by the protocol — pro-rata to their stake.
$VKR is uniquely utilized in the protocol: campaign creators are required to pay an upfront fee in the form of $VKR upon the instantiation of a campaign, with users receiving $VKR rewards from the Booster Program.
🚀 Coming Up Next
Valkyrie’s early adopters are expected to be crypto-native firms and their users, such as wallet providers, node operators, exchanges, and DeFi protocols. Valkyrie will then quickly scale beyond crypto-specific markets to disrupt digital advertising at large and power referral networks on Web 3.0.
🔜 We will soon announce details around how you can participate in Valkyrie’s upcoming launch, so stay tuned!
Join the Valkyrie army in bringing DeFi to the masses.
