"As a crypto founder, your market is not the set of people who want to make money. Thats not a market, thats just humanity"

We know this problem all too well in crypto. We have a growth toolbox filled with incentives mechanisms that tend to attract the wrong type of user.

Points, Tokens, Quests, and any monetary incentive that isn't correlated to product usage, or that gets people to use the product not because they need to solve a problem is bound to damage your retention cohorts.

And to the same extent, to create a false sense of product market fit.

Mert explains that the first thing you need to do is "to get very clear on who the ideal customer is".

Understanding your market's hair of fire problem and solving that is possibly the only sustainable way to find initial PMF.

"If your market is people who want to make money, you are not going to get PMF, because what is your product?"

Merts message hits home as Eigen Layer prepares for their airdrop.

Video Source: Mert Gives Advice to Crypto Founders | Instant Impact

• Tether, USDC and DAI transaction volume surpasses Visa's 2023 monthly average

• Hire crypto natives

• Bernstein says slowing Bitcoin ETF flows are a 'short-term pause,' maintains $150,000 price target

• Genesis RSICS could be a good bet in the Bitcoin ecosystem.

Alliance offers $350k in funding through two investment tracks:

1. Early Stage (Standard Deal): For companies that haven't launched yet or have been working on their current idea for less than 6 months, we invest at a $5M post-money valuation.

2. Later Stage (Flexible Terms): For companies with strong traction or that are currently raising a multi-million dollar round, we'll typically follow the same terms as other investors.

"As a crypto founder, your market is not the set of people who want to make money. Thats not a market, thats just humanity"

We know this problem all too well in crypto. We have a growth toolbox filled with incentives mechanisms that tend to attract the wrong type of user.

Points, Tokens, Quests, and any monetary incentive that isn't correlated to product usage, or that gets people to use the product not because they need to solve a problem is bound to damage your retention cohorts.

And to the same extent, to create a false sense of product market fit.

Mert explains that the first thing you need to do is "to get very clear on who the ideal customer is".

Understanding your market's hair of fire problem and solving that is possibly the only sustainable way to find initial PMF.

"If your market is people who want to make money, you are not going to get PMF, because what is your product?"

Merts message hits home as Eigen Layer prepares for their airdrop.

Video Source: Mert Gives Advice to Crypto Founders | Instant Impact

• Tether, USDC and DAI transaction volume surpasses Visa's 2023 monthly average

• Hire crypto natives

• Bernstein says slowing Bitcoin ETF flows are a 'short-term pause,' maintains $150,000 price target

• Genesis RSICS could be a good bet in the Bitcoin ecosystem.

Alliance offers $350k in funding through two investment tracks:

1. Early Stage (Standard Deal): For companies that haven't launched yet or have been working on their current idea for less than 6 months, we invest at a $5M post-money valuation.

2. Later Stage (Flexible Terms): For companies with strong traction or that are currently raising a multi-million dollar round, we'll typically follow the same terms as other investors.