A new interpretation of Morph in the L2 siege: How do users and developers share the benefits of ecosystem construction?

Imagine if you were asked to start from scratch and build a large and prosperous L2 Ecology, what would you do?

Before 2023, public chain/L2 们以收益类、衍生品、结构化产品等链上用例创新为发力点，但饱受「鬼城效应」诟病，大多数网络的用户和流动性都十分惨淡；而过去一年，L2 赛道也开始尝试新的思路，其中作为 L2 赛道鲶鱼的 Blast，通过积分式空投预期的催动，开启了以极低成本冷启动、并跨越式实现数亿乃至数十亿美元 TVL 的滥觞。

But has the problem really been solved? Looking back now, although the L2 track has ended the "public chain ghost town", it seems to have entered a new dilemma of "false TVL prosperity", and the new and old problems have become the two ends of a seesaw.

In this context, Morph has provided a new "two-pronged approach", using testnet points airdrop incentives to cold start + a dedicated developer/DApp The ecosystem construction fund takes into account both user/liquidity and ecosystem/consumer-level use cases, and seeks to launch a new solution to end the two opposing extremes of "public chain ghost town" and "fake TVL prosperity".

Traffic or ecology: the "L2 question"

The emergence of Blast in November 2023 was actually a breakthrough for the market’s accumulated dissatisfaction with the previous Ethereum L2 track. Just relying on the expected airdrops and other big bombs, the TVL exceeded US$500 million in 5 days, surpassing star L2 projects such as zkSync, Starknet, and Linea in one fell swoop.

You should know that Blast had not yet been launched on the mainnet, and no user could experience participating. DApp, even so, TVL continued to break through the integer level barrier, and quickly attracted a huge amount of funds of up to US$2 billion in just a few months:

It ranks fourth in Ethereum L2, only behind the old L2 giants Arbitrum, Optimism and the Base network supported by giants such as Coinbase. Its growth rate is crazy.

Blast also inspiredCommunityThere has been a great discussion about L2 liquidity and scenario use cases. Its novel approach of "users and liquidity are everything" has, to some extent, overturned the previous growth model of L2 and is seen as an attempt to blaze a new path of TVL first and then application.

In essence, Blast's "airdrop expectation + social fission" gameplay essentially subverts the old gameplay of traditional L2/public chain that only talks about technology/ecology. It is closer to the market and accurately grasps the user's "investment and consumption" psychology, thereby replicating a marketing strategy similar to Pinduoduo in Web3.

This move can be regarded as a dimensionality reduction attack on the traditional L2 growth strategy, so both the communication effect and the growth rate are very successful. However, marketing is only a means of attracting traffic in the early stage.CommunityThe controversial Blast points gameplay and exit mechanism show that good ecological construction and service experience are still needed in the future to retain customers (rather than lock them in).

同时这也映射出一个值得思辨的「L2 之问」，即究竟是像 Arbitrum、Optimism 等老牌 L2 一样，通过提供尽可能全面且丰富的应用场景来吸引用户和资金沉淀？还是学习 Blast 的打法，先吸引聚集天量的新用户和资金，再吸引项目方和 DApp 进行迁移建设？

Both have their own advantages, but also face their own new bottlenecks.

The new solution proposed by Morph is that the market (traffic-generating activities such as points incentives) and services (prospering on-chain scenario use cases) are not a conflicting binary opposition.

On the contrary, the two can be effectively connected and matched - while attracting users and funds in the early stage through incentives such as point airdrops, launching ecological construction funds for developers (about 30% ecological ratio, estimated to be as high as hundreds of millions of dollars), incubators & hackathons and other activities to carry out rich on-chain scenarios, especially consumer-level scenario construction, so as to undertake overwhelming users and liquidity:

• In terms of community and users, on May 6, Morph officially launched the Morph Holesky testnet, which uses enhanced performance and infrastructure to fully match the functions and performance of the upcoming mainnet. It can be used to preview all the functions planned to be provided by the mainnet to make a seamless transition in the future. It also launched a corresponding Morph points incentive activity to encourage users to actively interact and participate in early network liquidity and use case testing;

• In terms of ecosystem construction, Morph continues to hold developer incentive and sharing activities in the form of incubators, hackathons, online and offline lectures for developers and DApps, encouraging and supporting AI, GameFi and other different types of projects are built on Morph, and it is committed to launching an ecosystem fund specifically for developers/DApps to support long-term builders;

How can ordinary users and developers participate?

So from the perspective of ordinary users and developers, what are the specific ways to participate at present?

For ordinary users, the first season event of "Morph Zoo" "Genesis Jungle" was launched on May 13. Currently, Morph points can be obtained through DApp interaction, sign-in voting, and platform tasks to accumulate futureTokenReference certificate for airdrops or other exclusive incentives.

For developers, there are more diverse choices, whether it is for AIWhether it is hackathons and incubator programs for different types of projects such as DeFi, GameFi, Infrastructure, or online and offline workshops and lectures around various application scenarios of Web3 technology, developers are encouraged to participate in the early construction of the Morph ecosystem and share comprehensive support such as Morph's initial airdrop and quarterly return of full first-year sorter fee profits.

Ordinary users: "Morph Zoo" first season event "Creation Jungle"

On May 13, Morph launched a new "Morph Zoo"A multi-phase program designed to attract and reward ecosystem participants in the Morph testnet and eventually the mainnet, and the first season of "The Genesis Jungle" event was opened.

Each interaction between ecosystem participants will earn Morph Points to represent their activities, participation, and contributions in the Morph ecosystem. The official also directly hinted in the document that "Morph Points will play an important role considering future airdrops and other exclusive rewards."

It is also important to note that the Morph integral is similar tosoul bindingToken, and userswalletDirectly linked and cannot be transferred, there are currently three main ways for users to earn Morph points in the "Genesis Jungle", namely: Discovery Trail (DApp interaction), Voice of the Jungle (check-in voting) and Partners' Expedition (task platform).

1. Discovery Trail: DApp Interaction

According to the official statement, the Discovery Trail section is where users can explore the DApp world provided by Morph and discover Morph points rewards during the experience, which is a new round of DApp interaction process for the Morph Holesky test network in the conventional sense.

There are currently four DApps available for interaction on the official website. In addition to the cross-chain bridge Morph Bridge that community users are already familiar with, there is also a liquidity protocol BulbaSwap, loan agreement Abra FinanceAnd NFT trading market Morpha.NFTThe official website shows that more types of DApps will be launched in the future.

Morph Bridge

The full interactive experience of these four DApps is also very smooth. First, as in the previous round of testnets, we chose "Morph Bridge" to connect the Ethereum Holesky testnet and the Morph testnet.TokenCross-chain operations.

Of course, the premise is that ourwalletYou need to hold test ETH from the Holesky test network (Morph official documentation also recommendsQuickNode,Stakely.io,PoWFaucetthree taps).

We can also add MorphDiscord Community, enter the "discord-faucet" channel, and use the "/faucet+ address" command to obtain the test USDT.

After obtaining the test ETH and test USDT of the Holesky test network, we can perform cross-chain operations through "Morph Bridge":

Select the token and the corresponding amount, and cross-chain the token from the Ethereum Holesky test network to the Morph Holesky test network on the "Deposit" page; the "Withdraw" page is just the opposite.

BulbaSwap

The second is "BulbaSwap", we can use the previous cross-chain to Morph Holesky test ETHXiaobai Navigation Perform regular Swap and Pool (group LP to add liquidity) operations with the test USDT.

For example, to convert 5 USDT to ETH: first authorize USDTcontractCall it, and after completion, confirm the Swap, which will be exchanged for 0.628083 ETH.

Then open the "Pool" page, click "Add V2 Liquidity", select USDT and ETH, enter 5 USDT, and the amount of ETH will be automatically matched to form LP. Finally, click "ADD LIQUIDITY" and confirm in the wallet.

If you want to remove liquidity later, you can select the corresponding LP position in My Positions, then click "Remove" and confirm.

Abra Finance

Abra Finance allows us to get a similar crypto asset lending experience as Aave. First, you can click on the "Dashboard" page, select USDT in "Assets to supply", and then click Deposit.

You can then enable the mortgage lending function for the deposited crypto assets, and then select other crypto assets for mortgage lending on the "Assets to borrow" page.

At the same time, you can view, track and manage your on-chain lending positions in real time.

Morpha.NFT

"Morpha.NFT" is an NFT trading market that allows users to search, select any NFT series, and conduct buying and selling operations.

Taking the PandaGD series, which currently has the highest trading volume, as an example, we can select any PandaGD NFT for sale and click the "Buy" wallet signature to complete the purchase; the same goes for selling, click the "Sell" wallet signature to place an order for sale.

2. Voice of the Jungle: Sign in and vote

The Voice of the Jungle section "allows users to participate in shaping the Morph ecosystem through voting and thereby receive Morph points as rewards." In other words, it means voting for the projects currently listed on the Morph official website event page.

There are currently 9 voting options available. In addition to the three projects mentioned above, BulbaSwap, Abra Finance, and Morpha.NFT, there is also Public AI, PingPong, BitMetis, Starland AI, Rap Chain, Song Protocol, these should be the seed players for the next launch of the Morph Holesky test network or even the main network.

The key to this stage lies in "voting rights", that is, users cannot participate in voting at the beginning and must obtain voting rights through "daily sign-in".

It is also important to note that the official documentation specifically emphasizes that "only voting behavior can win Morph points. Simply accumulating voting rights without using them will not win points." This also shows that "voting" rather than "signing in" is the only consideration for whether or not to gain points.

The corresponding "daily sign-in" rules are also quite interesting. The overall cycle is 7 days, with 2 times as the reward multiplier. Continuous sign-ins are encouraged by gradually increasing the multiplier: 2 (first day) + 4 (second day) + 6 (third day) + 8 (fourth day) + 10 (fifth day) + 12 (sixth day) 28 (on the seventh day, get an additional 2 times reward, that is, 14*2) = 70.

When you sign in for the eighth consecutive day, the new cycle will start from the first day. However, in order to reward users for their persistence in signing in, the additional multiple reward will be increased to 2*2=4 times on the 14th consecutive day. This means that on the 14th day, you actually get 14*4=56 voting rights, and the last day of each subsequent cycle is the same, following the increasing pattern of 28, 56, 84, and 112.

For example, if you sign in for 4 consecutive weeks (28 days), you will receive a total of 448 voting rights rewards: the same incremental voting rights for the first 6 days of each week (2+4+6+8+10+12) x4=168, plus the incremental multiplier reward on the 7th day of each week (28+56+84+112)=280, the sum of the two equals 448.

In short, insisting on signing in every day can get you more voting rights rewards, and the rewards will accumulate as the number of sign-in days increases, especially after completing a whole cycle, the increase in rewards will become larger and larger.

3. Partners' Expedition: Mission Platform

The third part, Partners' Expedition, allows users to enter Morph's partner list and earn Morph points rewards while exploring new knowledge and networks, that is, completing corresponding Bitget Wallet and Galxe tasks.

Among them, the task of Bitget Wallet is relatively simple. You just need to enter the activity page, add the Ethereum Holekey test network and the Morph Holesky test network, and complete the (new user) token cross-chain. As of the time of writing, more than 40,000 users have participated.

Galxe's tasks are more comprehensive. Users need to join the official Discord community, Telegram community, experience the Genesis Jungle, deposit ETH across the cross-chain bridge, swap tokens, and perform lending and borrowing interactive operations. As of the time of writing, more than 27,000 users have participated.

Finally, when the "Genesis Jungle" event ends, Morph will also count the total points earned by users, which will basically serve as an important reference for users to obtain token airdrops and other exclusive rewards in the future.

Developers: Ecosystem construction dividend opportunity period

From the developer's perspective, Morph has recently launched a series of ecological activities and long-term plans, including incubators/hackathons for developers and projects in various segments, to encourage and support different types of projects and developers to participate. Funding and other forms of support are also quite generous.

Combined with its incubator plan and the types of DApps that have been opened for interaction, Moprh is very likely to invest more resources in promoting and incubating Consumer (social, entertainment, points), DeFi, AI and other types of projects. This is also its main blue ocean to be built, so that it can develop a richer and more comprehensive L2 comprehensive ecology (recommended to watch "How to deploy a contract on Morph》), this is also a period of obvious Morph ecosystem dividend opportunities for developers and project owners in the next period of time.

Sparkloom Builder Program

On March 25, Morph announced the launch of the Sparkloom Builder Program, which will last for 4 months and include an online hackathon and incubator program. The hackathon prize pool is $20,000. The winner will be invited to join the Morph incubator program. The final winner of the incubator will have the opportunity to receive up to $100,000 in funding and share 30% of Morph's total airdrop.

Sparkloom Incubator Program

In addition, last month, Morph also launched the two-month Sparkloom incubator program from April 29 to June 30, open to applications from high-quality projects in various fields such as DeFi, GameFi, Infrastructure, NFT market, Metaverse/NFT, middleware/tools, etc.

Through this incubator program, Morph is committed to providing a hub that integrates financial support, mentors, and incentives for the winners, providing a full range of support including funding, airdrops, development guidance, etc.:

• High-quality mentoring courses: Selected projects can participate in tailored mentoring courses covering Web3 community building, marketing promotion strategies, token economics and smartcontractBasic skills such as auditing, and professional guidance from heavyweight mentors from well-known institutions such as Dragonfly, LayerZero, The Block, Nansen, Pyth, etc.

• Funding and airdrop incentives: Selected projects that are committed to long-term development with the Morph ecosystem will receive grants of up to $100,000 and will share 30% of the total initial Morph airdrop in the future;

• Reach more than 30 million crypto users: Through Morph and Bitget, MEXC and other topexchangeAs well as strategic partnerships with leading wallets such as Bitget Wallet and Trust Wallet, selected projects will have the opportunity to directly reach global users;

• Top resource links: Selected projects will receive first-hand links to industry top resources, including world-renowned investors, outstanding project founders, and topexchangeetc;

• Full first-year sequencer fee profit rebate: Morph will rebate the profits from the first year's sequencer fees to selected projects after receiving them, with quarterly payments;

In general, developers and users/funds are two necessary options for L2 to build a prosperous ecosystem. Both must be done well. Therefore, how to balance the appropriate incentives for both parties and guide more users and developers to participate has become the key to development from 0 to 1 and then to 100.

From this perspective, the new solution provided by Morph, whether it is the "Morph Zoo" related points activities that have just started the first season of activities, or the incubators, hackathons, and online and offline developer activities launched in recent months, are all aimed at maximizing the benefits for early participating users and developers, pooling resources, and jointly promoting a positive feedback loop of both on-chain scenario use cases and user funds.

This also means a rare bonus opportunity period for users/developers with keen sense of smell and strong execution ability:

Whether you are a community user earning points through the "Morph Zoo" event, or a developer taking the lead in deploying different types of DApps such as Consumer Dapp, AI, GameFi, etc. to gain first-mover advantage, it is a blue ocean period. The users, projects, traffic and communities participating now will become the biggest help to each other.

All that’s past is prologue. From a macro perspective, if everything goes well, this combination of measures may lay the foundation for a new wave of DApps, new users, and ultimately the growth of TVL in the Morph ecosystem, thus taking a completely different pace from the previous wave of L2/public chain craze.

The article comes from the Internet:A new interpretation of Morph in the L2 siege: How do users and developers share the benefits of ecosystem construction?

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