Motivation: Great People + Great Product = A Sustainable Competitive Advantage
Behind every great product, there are great people and great stories. During my crypto “choose your adventure” journey, a common thought/idea continues to cross my mind. That is, the people in crypto are interesting/cool and I want to know more about them. A cultural melting pot per se. The people I have met in with the Index Coop are no different.
I believe highlighting the great people contributing to the Index Coop (through writing) could A) empower the greater community by building awareness, B) highlight shared values, C) serve as a fun experiment and read for community members.
I am writing this today to piggyback on a recently published article written by @pet3rpan. (Read Here) Instead of trying to summarize the article myself, let me pull out a few excerpts that resonated with me.
While tokens financially align participants to contribute value to such a network, it is grassroots community leadership and ownership that enables the long-term success of a token network.
Ownership is not fostered through financial incentive design but rather through a long-term focus on community building.
Intrinsically motivated community members form strong communities and sustain their participation even when the monetary upside is uncertain. Extrinsically motivated community members form the basis for weak communities and drive away other, more intrinsically motivated participants.
Focus on creating awareness around what differentiates the community
Why contribute to the Index Coop?
My journey in crypto has occurred in phases, with more to come. First, I needed to learn the subject matter. With many adventures to choose from, this can become overwhelming. I learned patience. I also learned that active contribution within a DAO teaches you much more than reading in solitude. After getting up to speed (i’m still learning), the next phase of my journey is about critical thinking and developing conviction around subject matter.
These thoughts have led me to a recurring question. With multiple communities (DAOs) to choose from, why should people choose to contribute to the Index Coop?
- Curious to hear your thoughts here, but ultimately, I think community growth and community contribution is underpinned by the development of Trust . I also believe trust is developed over time and ultimately driven by showing up (important), but also developed with a people-first mentality. IMO the Index Coop is winning here.
Fostering deeper connections widens our competitive moat
The aim of telling a more personalized story of the Index Coop contributors is to help foster a deeper and more personalized connection. For instance, simple questions could go a long way in fostering a deeper sense of trust at the Coop. I.e.:
- Where did your handle name come from? For instance, mine comes from a combination of Diablo 2 items.
- What are you most proud of?
- Most embarrassing moment in crypto?
- The Crypto Aha Moment
- Why the Index Coop?
At the end of the day, and like traditional finance, the Index Coop is in the business of trust. Personalizing the person behind the handle (not talking about doxxing) is about being human. I think being human (aka authenticity) can help enhance trust within and outside the community.
- Build Out the Idea
- Don’t Build Out the Idea