The UMfluencers Program started half-way through September 2023, with a vision that wanted to enhance the UMA ecosystem and the general blockchain awareness. The UMfluencer was defined as a crypto savvy person, with a good reputation in the social media space. The aim of the program was to create a group that was able share their knowledge about UMA tools and products!
UMA posts and general discussions about UMA tools required a “human touch”, as the usual engagement was between the Cryptoverse top names . This was intimidating for the common user, and the UMfluencers were the ones that filled the gap. The experiment wrapped up at the end of April, as everyone deserved a nice summer break!
There were several topics throughout the eight months, from Oval, Across on Linea to oSnap and the Optimistic Oracle! oSnap was by far my favorite one, as the tool combines the advanced strategies and gasless experience of off-chain voting with the speed and security of trustless execution.
oSnap optimistically executes governance transactions on-chain where the community can approve them. It's streamlined governance at your fingertips, benefits brought to several DAOs. The Total Secured Value hovers around $700,000 with over $27 mil in transactions secured through oSnap.
What about OVAL? The ground-braking technology behind Oval helps protocols to capture MEV. The OEV capture provides access to new revenue streams for lending protocols, as they can protect LPs from bad debt, increase incentives, and even cover management fees.
MEV is often referred to as an “invisible tax” that miners can collect from users, the maximum value a miner can extract from moving around transactions when producing a block on a blockchain network. Oval markets are live on MorphoLabs capturing OEV, clearing bad debt and increasing the yield for the lenders.
Back to the UMfluencers Program! We had 64 unique users that participated at least once, and the stats are mind blowing! The all-time high in participation and number of threads was reached in April, which shows that the program concluded on an ascending path.
The average number of threads was twenty nine, while the average user count per month was eighteen. Constant growth in both numbers and quality throughout the UMfluencer Season One and Season Two.
What is showing the impact of the program more than threads and numbers? I would say X impressions! The data shows that the reach of each of the UMfluencers expanded each month. The total impressions of first tweet of each tread that was created reached an above expected number!
If the headline of all threads accumulated 703,384 impressions, the overall number is even bigger. The effort of the UMfluencers from September 2023 to April 2024 generated over 4 million impressions! Not bad for something that I started from scratch!
It was a competition, as the participants were working hard to climb the leaderboard. Each month 250 $UMA were allocated as prizes, and the point system ensured that everyone thrived for quality. Each thread had to pass an internal audit to be eligible for rewards, and points were then gained based on X impressions, votes received in the UMfluencer channel, votes from UMA Ambassadors, creativity, memes and more!
It was a competition, but also a family that was growing together. The UMfluencers supported each other's content, extended the network and helped promoting quality. The dynamics and plethora of factors influencing the leaderboard created a special synergy. There were months where the top spot was shared, and months where the top five was separated by only three points.
Kurapika was the UMfluencer of the Month four times, showing that high standards can be maintained. Christina and Infinity claimed the title twice, and constantly challenged the top spot. Every single UMfluencer has my eternal gratitude, as leading this project enhanced my leadership skills.
The "UMfluencer" idea started from a constructive discussion in the chat, and expanded to an amazing social experiment. The total amount of $UMA shared in the eight months of activity was 1920, which took me on the first place in the UMA tippers. If you're passionate about crypto... you should dive into blue-chip protocols like UMA, and become part of something bigger!
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