Effective Crypto | Future State
Forgive me if this post is an overreach. I spend some time in the crypto space, and have donated ERC20s to an EA charity before. I was thrilled when I heard about Effective Crypto (EC).
After making a quick donation this morning, I have some thoughts. I’d like like to offer a few observations/suggestions. Would love to hear the broader community’s thoughts on this.
In this post, I’ll cover the following topics. Messaging, Community, and a Crypto-Native EC. I believe the first two topics are immediate. The last is dependent on the crypto community’s consensus.
Why These Topics
A challenge is that many are spinning up social impact projects/protocols based on Web3 organizational structures. I believe this could take away from EA’s “market share” with altruistic crypto personas. Rightly or wrongly, I am looking at donors as customers in the traditional business sense. Effective Crypto being EA’s product/service in the space.
These topics are around mechanisms that EC can use to support crypto donors and enable them on EA related subjects. My opinions here are loosely held.
Effective Crypto’s messaging seems geared towards describing 1) What is EC 2) How to leverage EC 3) Why you should use EC. If I was not familiar with EA’s model, I could think (not guaranteed) that this is another charity claiming that is the best for XYZ reasons.
I don’t think this tells a story that would empower a potential crypto donor. Likely one who is not familiar with EA, its cause areas, and it’s methodology/ideology. The suggestions below are intended to highlight a possible narrative that is centered around the crypto end-user.
Messaging & Content
Written content is very important in the crypto space. When being exposed to new material, an end user can relate the content to their own personal bias. When creating introductory content, assume that the end user has no idea what EA is and has never donated to a non-profit before. This doesn’t mean make the content with less substance. It suggests changing the messaging and champion to relate the materials to the end user.
Let’s look at EC’s Twitter Bio and see how messaging could be reversed.
We make giving crypto easy and impactful. (What)
High-impact donation options (What) ◆ 150+ cryptocurrencies (How) ◆ no fees. Donate with Effective Crypto and do 100x more good 🚀 (How/Why)
Help decide crypto’s legacy. (Why) Make crypto’s impact 100x 🚀 (Why)
Research backed donations (How) ◆ 150+ cryptocurrencies (How) ◆ no fees.
We make giving crypto easy and impactful. (What)
While this example is minimal, it is about the end user. The second version shows “Why” a crypto persona should donate to EC funds, and the “How” shows that EC has a key a differentiator in the marketplace.
Any introductory piece of content, short-form to long-form, could follow this messaging and make the experience about the end user. Another example (citing the website) if I saw “It’s unclear...You can help decide that” at the top of the page, I could subconsciously think EC is speaking directly to me. This could grab attention.
I am generalizing, but members of the crypto community are positively radical, contrarian and revolutionaries. They’re independent, yet they want to be a part of something bigger than themselves. They want to challenge the status quo. Thus, make the message about them changing the world even more, how they can do that, and what EC can do to make it easy.
Content showing why EC crypto donations are more impactful. Some examples below.
How and why a DAI ERC20 transfer is sent from the end users MetaMask wallet to being exchanged into the local currency in a global development cause area. (Enabling understanding)
An article quoting Sam Bankman-Fried on why EC is the best organization to trust with crypto donations, with EC explaining why others aren’t. (Social proof)
Why donating to EC can help offset short term capital gains tax from crypto gains. (End user enablement)
These types of content can follow the messaging structure cited in the Twitter example, and can also provides proof on why EC is the most effective crypto donation partner.
As cliche as this might sound, live where crypto lives. Much of crypto lives on discord, twitter and uses notion for documentation. By interacting with people in these mediums, you can provide a direct access to education and support.
Discord is a chaotic app where you can interact with people via direct messages, group chats and calls. Imagine if Slack and Reddit merged. It’s chaos.
I don’t know why it is so popular in crypto. Nonetheless, EC could use discord as an area where EA representatives can interact with the crypto community and support them with questions. Think of this as an alternative to Intercom.
Twitter can act as an education medium for those looking to learn more about effective altruism and its link to crypto. Answer big questions like, why can these two mediums co-exist? Twitter spaces are also great arenas to host discussions in the crypto community. Activity on twitter is likely an important marketing mechanism in the crypto space.
Just like EA’s course, EC could use a Notion to create a wiki-hub for all things crypto and giving. Ensure the language binds the two together and create content that the end user directly cares about. My favorite example of a notion-wiki is BanklessDAO’s:
This meaning, how is the project going to be crypto native in the coming months/years? Questions that come to mind:
Are there crypto integration ideas in the projects roadmap?
Will donating be done via someone’s wallet (on chain)?
Could NFTs be used as receipts and rewards?
Will the project leverage an open source protocol that allows anyone to contribute?
These are questions that could be considered as crypto increases in popularity, and becomes more influential in our world. This “integration” provides trust with crypto natives and increases likelihood of long-term participation.
When donating currently the flow is as:
Enter currency and donation amount 2) Enter email 3) Submit information 4) Manually donate crypto via manually inputting EC’s crypto address in end-users crypto solution 5) Verify transaction hash
In the long-term, could this flow be built? (Example Ethereum)
Enter currency and donation amount 2) Website connects to MetaMask Wallet 3) Run transaction 4) Submit personal information (optional)
Long Term Example
Bridge the EA organization and a recommended DAO(s) that supports the Effective Crypto mission. DAOs can act as partners and/or take on some of the work that EA and Effective Crypto propose (example blockchain specific engineering, ie solidity development).
This can act as a marketing mechanism and also give EA access to decentralized labor resources. Work that the organization is doing is has live progress updates. This can create transparency and further strengthen trust between EC and the crypto community.
If you’ve made it this far, I appreciate your time. If you have any suggestions or edits, please let me know. If you like to contact me directly regarding this matter, my email is email@example.com.