Mar 3
Whitelisting Competitions as a Tool for Growth
One method in our organic growth arsenal
You’ve probably noticed a slight change in how we are running our Betswirl and Toyo Fundraises — the introduction of a competition whitelist.
This whitelist allows early-crypto enthusiasts who don’t hold the $EBSC token to gain access to some of our most hyped projects. In this article, we will explore why we’ve chosen this as a strategy, and exactly how it works.
Why Run Whitelist Competitions?
At first glance, whitelisting might seem like a bad deal for those who already hold $EBSC. ‘If someone can just come in and grab a potential whitelist spot, why would I buy the token to participate in IDOs’
Firstly, the benefits that a competition whitelisted investor gets compared to a staked $EBSC holder are pretty small. Competiton whitelists only have a chance of entering an IDO, plus they only get the smallest allocation (the starter tier).
While the downsides of whitelisting for holders is pretty negligible, the upsides are massive — generally increased exposure, holders, and therefore marketcap, lets see why.
When Lithium run a competition to allow participants to enter the whitelist giveaway, we are collecting leads with very high intent. These are potential investors who are interested in what Lithium offer — they just arent’ fully sold yet. By collecting these investors' emails, we can send them our marketing campaign which educates them on what we are doing, why we are special, and why they should get involved.
If an entrant wins the competition, they will also get to experience the Lithium fundraise. When we have the next generation of Lithium staking and the site out, this will be the best in class launchpad experience. Our hypothesis is once users experience this, they’ll see what we offer, see what a bargain investment in us is, and make the plunge to becoming an investor.
Competition whitelisting is basically a free, organic way for us to scale our holders.
How Competition Whitelisting Works
The process for running a competition whitelist is very simple, let’s take a look.
- We will decide whether to allow a project to be eligible for whitelisted entries. Some projects will allow competition whitelists, but all projects will always allow staked investors.
- We will run a gleam competition, getting users to complete valuable tasks, such as signing up to our newsletter, in order to get a chance of a spot.
- We will run a lottery to select the successful whitelisted customers. Usually, we’ll have <100 whitelist spots, and many times that in applications.
- Those wallets will then be whitelisted for the specific project they entered for.
We hope you see the value of this great growth tool, and help us welcome new members into the Lithium ecosystem!
WAGMI,
Team Lithium x
