Why Klink Went Daily
Over the weekend the Klink platform launched into a daily draw mechanism to further our push towards product-market fit.
In this article, I want to quickly present what’s new to our now daily draw crypto platform and secondly bring you through what brought about our team's decision-making to implement the changes and the perceived advantages it will bring to our user base and scalability as we continue to build our way into the market.
So firstly, what’s changed and why will it matter to our user base
- Daily payouts, 365 days a year
Convenience and excitement are two core engagement pillars we live by at Klink and we set out to 7X both by implementing daily draws on our platform across all current and forthcoming token pools.
A new draw now runs every 24 hours, 365 days a year which is a considerable uptick in prize draws in comparison to the once-a-week cycle we initially launched during our closed mainnet a few months ago.
- The probability remains the same throughout the week but with an increased frequency of draws and chances to win
- Payouts are distributed to the user every 24 hours right after each draw and compound throughout the week
- Onboarding for newcomers is a smoother process with no wait time to partake in a full cycle draw, no matter what time of the week they sign up and deposit
- Bonus incentives and promo codes are activated near-instantly for new and existing users who claim them for taking various actions
All in all the platform becomes a more fluid, daily engaging service and a platform that’s easy to grasp in no more than 24 hours, scaleable across major crypto assets to hold and earn on over time.
2. Earn wealth through multi-token pools (Forthcoming)
Our mission at Klink is to drive global crypto adoption through prize-linked services, and I am excited to announce that we will be soon launching volatile tokens prize pools such as BTC, ETH and other popular tokens in the coming months. This capability has been made available due to moving to daily draws, but more detail on that later in the article.
3. Top prize jackpots can be won every day
What’s better than having the chance to win life-changing amounts of crypto every week? Well, that’s simple, having the chance to win it every day of course.
Our top prize jackpot is now
- Available to be won during every daily draw, shifting from 52 times to 365 chances to win big for holding assets with our services
- Capable of being won across every token that’s available to hold on the platform as we continue to release further token prize pools
- Runs completely on-chain for fairness and transparency of results (more on this development to be announced very soon)
As we develop as a business we want to keep increasing the size of our top prize giving users the chance to become crypto millionaires simply for Hodling their favourite digital assets over time.
4. The time of draws is now globally convenient to our growing userbase
On a final note to this product update, I would like to present the daily draw and subsequent automatic payouts will now be daily at 9.30 AM EDT (New York Local Time). We implemented this change to accommodate the multiple time zones of our user base that is developing globally!
Some colour as to why we initially launched as a weekly payout platform
My Co-founder Philip and I have been closely observing prize-linked services for over two years now, weighing out the advantages and disadvantages that come with popular schemes to serve our target market of a Web 2.5 consumer. Our initial decision-making pillars (among many others) to launch the product looked like this,
I) Act like a Neo-Bank: The wider population of fintech consumers (outside of crypto natives) are used to easy-to-use, intuitive digital banking products for their everyday finances and we live by the statement, as mentioned our belief is that convenience bundled with excitement is a killer combination when pushing services into the market.
II) Single weekly payouts: As per this article, we initially believed that bundling a week’s worth of rewards for holding assets would mean a welcome treat after a week of spending cash, especially pushing the prize payouts on a Saturday evening when users are more likely to be out and about, discretionary spending.
III) Stables to serve everybody: For the broader userbase for both Web2 and Web3 consumers, we felt volatile tokens were not the best assets to launch with. Many people, (rightfully) are not comfortable with the ups and downs associated with token price, and as per a neo-bank manner, we felt our best use of time to validate our initial product would be to keep things intrinsically pegged to fiat currency in order for newcomers to get comfy with our operating model.
Reading Between The Lines of initial feedback & data
So we went ahead and launched Klink on private mainnet with weekly stablecoin draws just a few months back and were delighted to receive positive feedback and engagement on our first version platform among our earliest adopters.
Though this wealth of information to utilise from our users was generally positive, we couldn’t help but acknowledge that there were holes in our game to have the best platform experience along with providing bigger and more frequent opportunities for our users to onboard, earn and enjoy our service model to its full extent as we began to scale into the market.
Transparently highlighting the key problems and limitations with weekly prize draws
I) Small onboarding windows exist & delayed bonus incentives
Once you have been a part of the weekly draw for a while it’s all gravy, but if you found Klink and signed up during the middle of the week it was a somewhat confusing experience to onboard as you were halfway through a draw cycle.
Our ability to offer free bonus tickets, promo codes and onboarding incentives was also delayed to mid-week onboarders as the activations commenced from the start of a new full draw which led to a poor user experience outside of the weekend windows where user promo activation was immediately activated.
II) Drop in excitement during the week
As seen in the graph above we observed great spikes at the end of the weekly draw, prior to the start of a new one. When the draw had just been completed, various actions increased such as deposits, referrals and general community activity thriving and then siloing out again during the rest of the week.
III) Volatile tokens do not suit weekly cycles
Aside from it being observingly dull in the mid-week, running volatile price token pools such as BTC & ETH through a ticket system would be quite a complex task when you seek to distribute in fair value relative to tickets held. A ticket needs to remain relatively stable in the holding period for the payouts to work smoothly. As we all know, a week in the world of crypto can see a LOT of change in the span of seven days and a weekly draw would be operationally complex to onboard users to with volatile tokens.
For us, these core limitations and our ever-developing vision for the product aided by the help of our user feedback were the icing on the cake to begin rounding up the Klink team to plan and implement the switch to daily draws/payouts.
How to check out the update
Over the past 4 months, our team has worked rigorously to implement, test and go live on both app stores and we would love to hear your feedback.
Please let us know what you think of the changes via our feedback chat in the profile section of the app. We also have a voting form below the stablecoin tokens in the wallet section to vote on what token pools you want next!
