1/ The $ACX token mechanics were designed to support the optimal coordination game for all tokenholders.
We mined behavioral economics research for insights, and this influenced several token design choices👇
We mined behavioral economics research for insights, and this influenced several token design choices👇
2/ The optimal outcome of the $ACX coordination game is for everyone to stake the tokens.
"A coordination game is a type of simultaneous game found in game theory... where a player will earn a higher payoff when they select the same course of action as another player."
"A coordination game is a type of simultaneous game found in game theory... where a player will earn a higher payoff when they select the same course of action as another player."
3/ How can this outcome be encouraged in a sustainable way?
We explored something called the status quo bias:
"Researchers have found that individuals have a strong tendency to want to keep things as they are presented to them, or as they are by default.
We explored something called the status quo bias:
"Researchers have found that individuals have a strong tendency to want to keep things as they are presented to them, or as they are by default.
4/ For example, with retirement plans: when employers auto-enrolled their employees, they were much more likely to stay on the plan than to opt-out.
They did not lose their freedom of choice, but this reframing had a considerable affect on realized savings.
They did not lose their freedom of choice, but this reframing had a considerable affect on realized savings.
5/ "A series of decision-making experiments shows that individuals disproportionately stick with the status quo. Data on the selections of health plans and retirement programs reveal that the status quo bias is substantial."
jstor.org
jstor.org
6/ We designed the airdrop claiming process with this in mind:
When you claim, it will be automatically pooled and staked. It will immediately begin earning $ACX liquidity incentive rewards, as well as begin to increment your rewards multiplier.
When you claim, it will be automatically pooled and staked. It will immediately begin earning $ACX liquidity incentive rewards, as well as begin to increment your rewards multiplier.
7/ This leans into the existing bias to support the broadly favorable outcome, which is for airdrop claimants to stake.
To further support this part of the coordination game, we are exploring different meme containers to reinforce this message. Share your suggestions👇
To further support this part of the coordination game, we are exploring different meme containers to reinforce this message. Share your suggestions👇
8/ You may recall that in our earlier post about the reward locking program, @kevinchan2020 talks about the non-financial rewards associated with such a program, such as the status symbol of attaining badges.
This is also designed in support of the coordination game.
This is also designed in support of the coordination game.
9/ "Loss aversion" and what's called the endowment effect also play a part here: users may feel reluctant to lose their accumulated multiplier, or their status in the community.
10/ The ACX token has been designed with careful consideration of the incentives of every shareholder, as well as to encourage the optimal outcomes for all tokenholders as a community.
There are more first-of-their-kind design elements we will share in the coming two weeks.
There are more first-of-their-kind design elements we will share in the coming two weeks.
11/ To join the coordination game in a more active fashion, find the Rangers and the wider Across community at discord.gg.
We support 中国人, Pусский, 日本, Deutsch, y Español.
We support 中国人, Pусский, 日本, Deutsch, y Español.
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