Would love to be on the call but unfortunately might not be able to make it so want to put some thoughts here.
Recap
Goals
If we take a quick step back to why LFG I’d sum it up as a couple of points. For us to really achieve the future of the on chain economy we need more assets and more liquidity to live on chain. Pre sanctum launch the meta was majority of liquidity and assets to be off chain. Whilst we saw the success of Uniswap with long tail assets, the majors most of the time still had liquidity on centralised exchanges.
We need to reverse this trend and instead have more liquidity on chain
What we have?
At a very high level if we were to try to see what unique value prop we have vs other venues, it would be distribution to Solana native users.
One of the biggest issues that all crypto projects have is distribution. Experienced founders understand that at the end of the day that distribution > tech. Jup is uniquely positions for this given it has real distribution and users.
Coming from a project perspective, most of the time the actual distribution that comes from a CEX listing is purely to the token as a product - there is no tangible benefit to the underlying product. The token is treated as a standalone. However what we have actually is a solana native user base - there are users willing to try out platforms.
Thoughts on LFG
So given our goal is more assets on chain with deep liquidity and our USP is that Jup has distribution to active solana users then what can we do?
At a high level I’d suggest we explore the following:
- Introducing token types as two separate products - permissioned and permissionless
- Exploring matchmaking of users
Introduce Token Types
Just for further context I’d ideally like to put another definition here as well. I’m doing a massive generalisation here but let’s assume that tokens fall into blue chip vs long tail assets. My thoughts here are that both are important and require different strategies going forward.
Majority of trading volumes will always come disproportionately from the blue chip assets. However if we look at the success of Uniswap we saw the proliferation of long tail assets and the composability that followed.
The first point I’d propose here is to differentiate between the two:
- Permissioned Listings
- Permissionless Listings
The key difference between the two should be the amount of support thrown in by the core team in terms of marketing and support. Permissionless listings would almost be a tool set that the team provides to anyone who wants to launch their token - there’s no endorsements from the team but anyone is able to use it. Think of this as free tools that become fundamental infrastructure for anyone who wants to launch a token on Solana
Permissioned Listings
The flagship product should still be permissioned listings but I’d actually want to instead rephrase the questions that @0xSoju posted. Given distribution is the key, how do we grow it such that it’s a win-win situation?
As I pointed out at the start, our USP is solana native users. To me this means that Jup should become the matchmaking layer of users - how do we look to match real long term aligned users to projects looking to launch tokens.
In a future we should be able to segment out our gaming audience and present them a token launch where users actually want to try the product, use it out and play around with it. Founders will love launching with Jup because it is real distribution, not distribution to a standalone token product
How do we do this? I think this is where the power of the community lies. I’d suggest that we explore the following:
- How does the community or community leaders start to create sub-communities based on interest. How do we continually build these up
- How do we build products to support this goal of user matchmaking? How do we surface listings in a safe way that match a user’s needs and what they are looking for
Summary
If we want to continue having high quality listings then we need to have some USP. I believe one potential avenue can be to invest in bringing real users to projects that choose to natively launch on chain.
To support this I’d suggest as well that we look at launching permissionless listings such that Jup becomes the standard way to launch tokens on chain