Lithium Product Update
What We’ve Delivered this Week
It’s been years since our last Product Update! Well, not years, but our last Product Update in fact was published at the end of last year.
More time between Product Updates = more ground to cover, so let’s get right into it 👇
Introducing XP (Experience Point) Rewards
We’ve been thinking lots about gamification, i.e., how we can make completing missions on our platform more fun. Sure, token rewards are nice, but a little fun never hurt nobody either!
Besides the added fun, XP rewards actually also provide quite nifty functionality for two reasons:
First—from a user perspective—instead of cashing out rewards immediately for completing smaller tasks, you can now work your way up to larger rewards in return for consistent efforts. This will certainly make projects happier, as they will distribute larger rewards to a more concentrated group of users than many small rewards to a larger group of users (incl. loads of airdrop hunters). And, all the genuine users will also certainly be happy, as there will be more rewards available for honest and constructive engagement.
Second, XP allows us to assign levels to each user. Projects wanting to gather feedback from a certain type of user within their community now can easily do so—levels will show how engaged a user is, and projects will be able to more accurately target their efforts towards users, based on visible engagement levels.
Level Up!
Levels refer to each user’s experience/amount of missions completed—just think of literally any video game. That same logic. As you complete more missions, your XP increases, and as your XP increases, your level increases. In a video game you may be able to access better weapons, armour, and abilities—here, you’ll be able to access more interesting and important missions with larger rewards as your level increases. Luckily, each user has the potential to climb the ranks, they simply have to earn it.
We won’t get into the logic of how our XP rewards work too much, but each XP reward will be a multiple of 50—so if you ever see a wonky number like 71, our intern was probably not in his best state of mind, please let us know. If you’re curious to see how our XP rewards logic roughly works, check out a little game called World of Warcraft.
XP, Rewards, Allocation, Competition Entries
Admittedly, it’s getting a bit much. But also not really. XP rewards will never replace token rewards, allocation rewards, or entries into a raffle/competition. XP is completely independent of the actual reward and can be put on top of any existing rewards.
The only catch here is that a mission may have NO actual reward, except XP. But then again, you won’t only have bragging rights (leaderboard coming soon!), but you’ll actually need to accumulate XP to unlock levels, i.e., unlock larger and more interesting rewards. Don’t worry, most of you who always diligently complete missions likely won’t even notice the XP mechanism too much, besides it being more fun. You will however benefit significantly from the levelling up, as you will visibly separate yourself from airdrop hunters and therefore receive more value from the communities you are part of.
Important Note: You’ll have different XP for each project/community. Thank you to those of you who have already provided feedback on this, we’re already making some crystal clear adjustments 🤝
Next Up 👀
As just hinted upon, we’re also in the process of putting together a leaderboard, which will nicely visualise and further gamify the XP and level mechanism.
We’re also currently building out the “project shops,” in which you’ll be able to trade in accumulated XP/coins for goodies. Again, the idea is to further gamify our whole platform and provide more choices for the user on how exactly they would like to be rewarded. More on this soon.
In the meantime, let us know how you like the new XP feature, and even more importantly, let us know if you don’t like it!
Bless,
Team Lithium
