The Web3 Growth Engine
0x7B0b
September 14th, 2022

Web3 Needs Growth

Crypto adoption is slower than you think. Most web3 projects struggle to get more than 2,000 daily active users. Yet few teams have taken a thoughtful approach to user growth and retention.

Let's look at the numbers 👇

For the context, Layer3 helps customers (web3 orgs) acquire and retain high quality users. We've driven:

  • 1.6 million on-chain actions

  • Across 60 projects

  • With 55,000 unique users

On a given day Layer3 accounts for 25-90% of the daily active users for our partners. Net new retention is typically between 30-60%.

We are the most cost effective way to grow your user base.

The Layer3 Impact

We ran 15 bounties for Slingshot between June-August 2022

Results:

  • 11,500 new users on Optimism

  • 65% new user retention on Optimism

  • 9,000 new users on Polygon

  • 24% new user retention on Polygon

This graph visualizes our attribution. We account for 45% of transaction activity on Slingshot Optimism over the past 30 days.

Source: Dune Analytics
Source: Dune Analytics

This graph visualizes our impact on daily active users (DAU) Our bounties helped Slingshot reach record daily usage.

Source: Dune Analytics
Source: Dune Analytics

We ran 3 bounties for Clipper in July Results:

  • 7,300 total participants

  • 6,100 new users

  • 32% new user retention

Again, our attribution is impressive. We accounted for 42% of transaction activity on Clipper over the past 30 days.

Source: Dune Analytics
Source: Dune Analytics

Okay, what about more established protocols? Let’s take a look.

Uniswap has 5,200 daily active users on Polygon.

This dashboard highlights the mid-August growth when we started to ramp our bounties. Usage eclipsed 8,000 on the days we launched our bounties.

Source: Dune Analytics
Source: Dune Analytics

Aave has 1,200 daily active users on Optimism.

This dashboard shows our impact, we accounted for 75%-95% of DAU on multiple days.

Source: Dune Analytics
Source: Dune Analytics

Our Users Are Hooked

It is important to note that this is genuine usage, there are little-to-no financial incentives. Financial incentives attract mercenary users. Mercenary users kill retention numbers. We're in the business of retention

We capture user attention by wrapping discovery in an elegant & fun way. Users come to Layer3 to find new products, learn how to use them and showcase their web3 competency.

Others dress up financial incentives as 'ownership distribution'. This is naive & misguided. We have best-in-class retention numbers without financial rewards.

  • Our top 1,000 users return 49 days in a row & have each completed 361 on-chain actions

  • Our top 5,000 users return 23 days in a row and have each completed 211 on-chain actions

  • Our 19-week retention is 87% for our top 10,000 users

Layer3 Internal Data
Layer3 Internal Data

We are maniacally focused on delivering for our customers.

We do this by helping them acquire new long-term users.

The proof is in the numbers above.

Get in touch if you want to learn more: https://l3.xyz/grow

Subscribe to Layer3
Receive new entries directly to your inbox.
Collectors
View
#1
#2
#3
View collectors
This entry has been permanently stored on-chain and signed by its creator.