This innovative DeFi protocol is pioneering a simpler and more capital-efficient method to generate yield from DeFi options trading. With the launch of their Premia Academy and Premia Blue subscription plan, Premia Finance focused on driving on-chain engagement and new user acquisition via their Interstellar Trading Competition.
Driving on-chain engagement and user acquisition
Premia Finance launched Community Hub in tandem with their Interstellar Trading Competition. Pitching it as a win-win proposition for both new and seasoned traders, this competition was a strategic move towards driving on-chain engagement and augmenting their DAUs.
The Interstellar Trading Competition was not just about winning tokens but also about learning, competing, and growing as a trader. The more trades a participant carried out, the more they had a chance to learn and improve, thereby fostering a sense of community and camaraderie among the participants.
Results that Speak Volumes
Post-competition, the numbers were indicative of the success of this initiative. There was a significant upsurge in the on-chain DAUs, and the number of new users increased substantially, proving that the competition effectively served its purpose.
Moving the Needle with Leaderboard Integration and Gamification
At the heart of Premia's success was the incorporation of gamification elements in the form of leaderboards and Discord role "boosts". This approach not only drove higher engagement within Discord, but also encouraged more interaction with the questing aspect of the Mission Hub, effectively increasing on-chain DAUs.
Discord role "boosts": Fueling the engagement engine
What this essentially did was level up the reward-earning potential of participants. Those with boosted roles could accumulate quest rewards at a faster rate compared to those without. This was no mere gimmick - the incentive of earning rewards at an accelerated pace prompted participants to actively seek out opportunities to unlock these boosted statuses.
A simple yet effective mechanism, this 'boost' system was instrumental in moving the on-chain needle for Premia.
Quest completion rates: A testament to engagement
The efficacy of our strategies is further underscored by the impressive quest completion rates. In an era where user engagement is fleeting and unpredictable, this was no small feat. Our data revealed that every participant who clicked on a quest went on to complete it fully.
Not only did this demonstrate the compelling nature of the quests themselves, but also the effectiveness of the 'boost' system in motivating users to fully engage with the available content.
The birth of Mission Hub
It was a ground-breaking endeavor. Premia Finance, in its pioneering spirit, ventured into uncharted territory by becoming the first Sesame Labs partner to launch a completely white-labeled Community Hub. But this wasn't just any Community Hub - this was the Mission Hub. A fully brand-integrated platform, the Mission Hub was created using our custom domain, iframe, and custom branding options.
Why does this matter, you may ask? Well, let's delve a little deeper.
Seamless user experience: The key to engagement
From the onset, one of the primary goals for Premia Finance was to keep users on-platform and engaged. Now, “engagement” might sound like one of those buzzwords that's thrown around a lot these days. But in the world of decentralized finance (DeFi), engagement isn't just a nice-to-have, it's an absolute (revenue-generating) must.
With Mission Hub, we were able to provide a seamless user experience. The platform wasn't just easy to navigate, it was intuitive. It was visually appealing, yes, but more importantly, it was built with the user in mind. From the layout to the carefully chosen color palette - everything was designed to make the user feel at home.
“And when users feel at home, they stay. They participate. They engage. And that's exactly what we wanted.”
This approach worked like a charm. The experience provided by the Mission Hub helped Premia Finance to not only keep its users on-platform but also significantly increase the number of daily active users (DAUs). An amazing feat, if we do say so ourselves!
Driving down-stream metrics: The result of focused efforts
All in all, the integration of leaderboards, the introduction of role 'boosts', and the high quest completion rate all contributed to the tremendous success of our partnership with Premia.
This wasn't a mere coincidence. It was the direct result of the focused efforts put in by both the Premia Finance and the Sesame Labs teams. Through our collaboration, we were able to create a platform that truly resonated with the users.
And this, dear reader, is the power of a well-executed Community Hub.
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