The Intersection of Human Relationships and Web3 Networks: Finding Common Ground

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Hatched by Glasp

Aug 13, 2023

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The Intersection of Human Relationships and Web3 Networks: Finding Common Ground

In today's society, human beings are expected to have various personas in order to communicate effectively. However, there has always been a societal pressure to present a superficial facade and hide one's true self in order to fit into negative value systems. This has led to a generation of young individuals who are uncertain about their own identity. In their interactions with others, they often find themselves playing different roles depending on the person they are engaging with, fearing that they may lose themselves in the process. The more unique their individuality, the more challenging it becomes to navigate through these complex dynamics.

Interestingly, this struggle for authenticity and genuine connections can also be observed in the world of web3 networks and token incentives. The concept of passive participation in networks such as Helium, Arweave, and Compound highlights the idea that users can benefit financially without actively engaging with the network. By simply being part of the supply-side, individuals can reap the rewards and increase the utility of the network. However, networks with passive participation are rare, and the limitations of token incentives become apparent when seeking active participation.

When bootstrapping a network, it is crucial to target the most underserved users who feel the problem deeply and are willing to overcome any obstacles to engage with the network. Tokens can attract users who are primarily motivated by financial incentives rather than the immediate utility of the network. This can lead to a disconnect between financial incentives and network utility, resulting in rapid initial growth followed by a painful decline. Looksrare's attempt to scale its network through a "vampire attack" on Opensea and Sushiswap's similar strategy on Uniswap both experienced this trajectory. Financial incentives led to user behaviors that did not align with the network's utility, causing genuine trade volumes to collapse.

To overcome these challenges, it is essential to link token incentives to network utility. Users should only receive token incentives if they contribute value to the network through specific, desirable actions, rather than solely based on adoption. This ensures that rewards are focused on actions that truly benefit the network, rather than just increasing user numbers.

Drawing parallels between human relationships and web3 networks, we can see the importance of authenticity and genuine engagement. Just as individuals need to embrace their true selves to form meaningful connections, web3 networks need active participation from users who add value to the network beyond financial incentives. This requires a shift in mindset and a focus on long-term utility rather than short-term gains.

In conclusion, here are three actionable pieces of advice for navigating both human relationships and web3 networks:

  • 1. Embrace your authentic self: In both personal interactions and network participation, being true to yourself is crucial. Don't be afraid to show your true colors and engage with others genuinely.
  • 2. Focus on long-term utility: When building or participating in a web3 network, prioritize the long-term value and utility it provides. Financial incentives should align with actions that contribute to the network's growth and sustainability.
  • 3. Seek meaningful connections: In both human relationships and web3 networks, quality matters more than quantity. Strive for meaningful connections and engagements that add value to your life and the network as a whole.

By applying these principles, we can foster a culture of authenticity and genuine engagement both in our personal lives and in the evolving landscape of web3 networks.

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