Building Successful Blockchain Ecosystems: A Guide to Attracting Users, Liquidity, and Builders
The race to build the next successful blockchain ecosystem is on, with new projects popping up every month. But what does it take to actually succeed in this competitive landscape? According to Azeem Khan, a CoinDesk Columnist and co-founder of Morph, the key lies in attracting users, liquidity, and builders to the chain.
Khan emphasizes the importance of having a solid user base and liquidity on the chain to incentivize developers to build on the platform. Without these key components, a chain risks becoming a “ghost chain” with little to no activity. To attract initial users and liquidity, partnerships with centralized exchanges or decentralized wallets can be crucial.
Additionally, Khan highlights the significance of creating hype during the testnet phase, building anticipation for an airdrop, and empowering builders to create successful startups on the chain. By providing support for builders in areas such as pitching to investors, creating tokenomics, and getting listed on exchanges, a chain can set itself apart and attract top talent.
Ultimately, the success of a blockchain ecosystem hinges on its ability to attract and retain users, liquidity, and builders. By focusing on these essential components, a chain can position itself for long-term success in the ever-evolving world of blockchain technology.
