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THIS IS NOT a MegaETH problem. it's a crypto problem imo
this is about how crypto onboards users
MegaETH made a big case for being the chain where apps could break out to mainstream users. the terminal was supposed to be the mechanism leading to that -> early users, awareness, marketing for the ecosystem apps
but here's the problem. any points system that financially incentivizes people to use an app is not proving PMF. it's just renting some users and as we've seen over and over again there's no one left at the end.
this is not a MegaETH-specific failure. this is a crypto-wide pattern which many people tried to tweak and adjust and make work but it ends up always the same.
InfoFi can solve this (i know, crazy right?)
so Xeet migrated to MegaETH and hasn't kicked off yet. and the premise of Xeet which was born from InfoFi is different than what the terminal does.
it incentivizes content creators to create awareness and educate about apps
that distinction matters more than people realize.
incentivizing marketing is not the same as incentivizing usage. one builds awareness and the other builds fake retention.
MegaETH's bet was always about the apps. the terminal was supposed to serve that. it didn't. shutting it down early and doubling down on focused GTM per app is the right call (a tough one to make tho)
but the real test is whether the apps themselves have something people actually want to use when there's no financial incentive to do so
that answer is still outstanding
After reviewing the Terminal data, we’ve decided to conclude the season early, and sunset our Terminal program.
The points distribution for Week 3 has gone out as normal and a snapshot has been taken of all user activity up to this point, which will be used in our final calculations. This decision did not come easy, but we believe this is what’s best to support our ecosystem.
Next week, we'll run a supplemental points distribution to thank all users who have been exploring and experimenting with the different apps throughout the program.
Eligible Terminal participants will receive a share of the rewards pool in USDM, based on the points accumulated to date as well as activity that supported Mega.
Early next week, we'll open a place on Terminal for one week so you can designate a wallet address to receive your rewards.
Terminal’s main features will be merged with Rabbithole, transitioning everything into one unified chain experience.
Thank you to everyone who has supported us this far. We can’t wait to show you what we have in store.
A note from Shuyao on what’s next: