My name is Brian and I’m one of the co-founders of RabbitHole. RabbitHole is a platform for users to learn about and participate in crypto protocols while earning ownership in them. We’re excited about the potential of Badger as the home for BTC in DeFi and think RabbitHole would be a great fit to help drive more users to the protocol and provide a resource for education on the Badger suite of products.
Protocols like Gnosis, OpenSea, Matcha, Aave, Perpetual Protocol, ENS and others have used RabbitHole to drive growth to their platforms and protocols. RabbitHole has helped distribute more than $250K in rewards and has hundreds of daily active users who are completing tasks across different protocols - and has been driving adoption on the demand side for crypto networks.
Our goal with RabbitHole is to be the best education and growth platform serving the best cryptonetworks. We’re actively playing a large governance role in each ecosystem to grow the number of retail users participating in each ecosystem to foster a higher participation rate.
RabbitHole will run a Quest on RabbitHole for BadgerDAO to drive new user deposits into the Sett and serve as a test for a paid acquisition channel for new badgers
Task: Deposit & Stake a minimum of $100 Tokenized BTC into Badgers Sett Vaults
Total allocation: 1200 $BADGER tokens allocated
Total number of potential users: 250
Rewards to every user: 4 BADGER tokens
Rewards paid out to RabbitHole multisig/DAO: 200 tokens
There are currently no $BADGER tokens set aside in the Treasury for onboarding and education initiatives so we are proposing to come directly from the treasury. If the quest is successful (sells out), we hope RabbitHole can be one of the major start growth gears for the BadgerDAO.
RabbitHole will set up the queries using the Badger API/subgraph to track if a user has deposited and staked into the Sett Vaults.
- If a user has deposited into the Sett and staked into a BTC Sett vault, the user will be able to receive a reward of 4 BADGER Tokens distributed the day the campaign ends.
- The user must be BrightID verified to be eligible (to protect against users creating multiple addresses and guarantee uniqueness).
- The quest will run for one full week after the proposal passes.
- BADGER tokens to be distributed via Multi-sig
OPTIONAL: There will be no minimum time the user has to stay in the sett to claim the reward. We can set requirement at a certain block number so current badgers will not be able to participate (if the community wants this).
- Introduce a new class of users to the Badger ecosystem.
- Training new users in the ecosystem to use the protocol and provide a way to rebate gas deposits with a token reward.
- Test out RabbitHole as a meaningful paid acquisition channel for the Badger community and test out new features.
As a quick case study and to give some data points, we ran a campaign with Matcha Here were the stats from the campaign:
611 users made a swap on Matcha from RabbitHole
262 users completed the campaign and earned 30 $ZRX
270 of the 611 users (44%) pooled on Uniswap
In the future, we can run more campaigns with BadgerDAO such as voting on proposals, sending more users across the Badger Bridge, or promoting any of the other products in Badgers Suite.
This is just the beginning of what’s possible for the Badger ecosystem. As the number of users grow on RabbitHole, the more people that will be introduced and onboarded into Badger.
We welcome any feedback from the community on this proposal, and hope to put move to a BIP in the next few days. We hope to see you in RabbitHole soon!