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How Boost Held the #1 Spot as Top Arbitrum Contract

BOOST STUDIOS

04.04.2024

tl;dr

  • Boost Studios received 1M ARB from the Arbitrum DAO STIP program, successfully redistributing the incentives through Boost Protocol, surpassing ambitious KPI targets.
  • During this time, Boost Protocol held the #1 spot as the top Arbitrum project in contract usage, proving to be the most impactful driver of network growth for Arbitrum.
  • Boost Protocol's flexible and scalable tooling allowed Boost Studios to distribute incentives efficiently and sustain network activity for 3 months.

Introduction

Boost is the distributed incentives network of Ethereum. Anyone can target and incentivize any wallet with any token reward to complete an onchain action. As a highly neutral and permissionless protocol, anyone can use Boost for any use case or objective, such as driving sequencer fees, mint collections, voter participation and more.

While Boost can support various incentive distribution methods, such as one-time drops (e.g., airdrops) or multi-series campaigns (e.g., quests), Boost Studios focuses on driving sustainable growth through continuous incentive distribution and real-time iteration.

The 1M ARB grant Boost Studios received from the Arbitrum DAO STIP program allowed us to show the effectiveness of ongoing incentives and how efficient Boost Protocol is in driving sustainable growth. As a result, we surpassed ambitious KPI targets and held our rank as the #1 Arbitrum contact throughout the 3-month program.

This article is a highlight summary of Boost Studio’s grant distribution performance for the Arbitrum DAO STIP Program.

Driving sustained activity through ongoing incentives and iteration

Boost Protocol #1 Arbitrum Contract

Throughout the STIP program, Boost Protocol consistently ranked as the #1 Arbitrum project by contract activity, surpassing all other leading protocols and their distribution strategies. This success was largely due to Boost’s robust and flexible infrastructure.

Every boost is a smart contract that can be configured by action type, reward amount, and target wallets. Boost Manager is the main user-friendly interface that anyone can access to configure and deploy incentives within minutes.

Our strategy using Boost was to leverage its high-speed and performant capabilities to deploy multiple boosts daily. We would instantly take the results and iterate and optimize boosts in real-time to ensure the most efficient use of resources. This also helped us stay agile to dynamic market changes.

To effectively distribute the ARB on an ongoing basis, we developed a pacing strategy. We used the following framework to progressively roll out incentives in three phases:

Phase

Distribution Method

Goal

Phase 1

Experiment

To test and determine the baseline metrics.

Phase 2

Iterate

To double-down and optimize our strategy.

Phase 3

Scale

To distribute incentives at scale using results and learnings from the previous stages.

Though we experienced several market challenges, such as an increase in ETH and gas prices, our iterative pacing approach allowed us to easily adapt to changes daily and sustain network activity. Using Boost’s agile tool, we would adjust reward amounts and objectives in real-time, effectively holding our spot as the #1 Arbitrum contract throughout the STIP program.

Ranking #1 in Sustainable Growth and Blockspace Demand

In addition, Boost also ranked #1 as the top-performing Arbitrum STIP project for sustainable user growth in the OSO analysis.

Boost Protocol #1 in User Sustainable Growth

We also drove the highest blockspace demand by generating the most transactions and sequencer fee contributions to Arbitrum.

Boost Protocol #1 in Blockspace Demand

These results show that the method of ongoing incentive distribution paired with Boost’s agile infrastructure drives the most impactful and sustainable results.

Conclusion

For the full analysis of Boost Studios’ Arbitrum STIP grant distribution results, read the forum post.

Looking forward, we expect more protocols to begin taking the approach of ongoing incentive distribution. With the arrival of EIP-4844 lowering the cost to transact, networks will be aggressively competing for users by incentivizing every onchain action.

If you are a project interested in using Boost to distribute incentives and drive onchain activity, reach out to the Boost Studios team.

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