Matchain teams up with OKX to launch rewards campaign up to 40K USDT
Matchain Overview - September 25, 2024
Welcome to the Matchain Overview. A one-stop-shop for the Matchain community to get up to speed on the network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
New here? Subscribe here to get updates to your inbox. Every other Wednesday.
Matchain by the numbers
Network’s daily transactions: 86.9K (-1.50%)
Network’s total transactions: 6M (+25.52%)
Total number of wallets: 9.9K (+16.47%)
Total DIDs created: 956.5K (+0.01%)
The metrics are accurate at the time of publication but may reflect lower values due to the chain’s ongoing migration process. The percentage change is over a 14-day period.
Exploring the chain
🔥What we’re watching: Matchain teamed up with OKX, a cryptocurrency and derivatives trading exchange, to launch a rewards campaign offering up to $40,000 worth of USDT.
🔥Why it matters: OKX is the third largest crypto exchange by volume, according to CoinMarketCap data. In the past 24-hours, OKX had over $1.8 billion in trading volume and more than 4 million weekly visits, the data showed.
Oftentimes, reward campaigns, like airdrops, bring in big influxes of users looking for opportunities, but if the initiative is geared properly, it could create more long-term thinking users.
This reward campaign being featured on the OKX platform could lead to its users potentially being exposed to the Matchain ecosystem. Given that the maximum amount a new OKX user, that is also engaged in Matchain’s ecosystem, could get is $25 worth of USDT and “2 Mystery Boxes,” the campaign is more likely to bring in more engaged users than opportunistic or new ones.
It’s also solely for the “Matchain Community invitees,” so it incentivizes those who want to participate in it, to join the network’s community, if they haven’t already.
Last month, Matchain launched to mainnet, which is a historically important milestone for chains looking to reach new builders and users for its chain. If OKX users see the campaign, they’ll gain some exposure to Matchain and it can play a part in potentially expanding the chain’s reach.
The three-week campaign can expose OKX users to the network’s ecosystem and reward new exchange users from it as well. This is important for Matchain because maintaining network activity is just as important as onboarding new users to the platform.
🔥The bigger picture: Rewards campaigns in the crypto space often receive mixed reactions, as they can lead to temporary spikes in activity, followed by significant drop-offs once the rewards end. This pattern can create uncertainty for potential new users or future partners.
However, if Matchain can maintain increased activity levels during and after the campaign, it could play a crucial role in the chain’s early-stage development.
Highlighting the Matchain Network
Check out Matchain’s airdrop campaign and learn how they’re aiming to reward ecosystem members
Matchain partnered with DMail to integrate its decentralized email and messaging service to its network
Tagzz launched its omnichain digital identity name service to the Matchain ecosystem
Cumulative transactions on Matchain have grown from 3.7M to 5.87M since its mainnet (shown below)
Source: Matchscan
Check out the Matchain blog for more updates.
Ecosystem showcase
Members from the Matchain team spoke on an X space about decentralized identifiers and user data sovereignty
INTOverse published an article on how it aims to utilize the Matchain network to improve value distribution
Digibuy, a web3 shopping protocol powered by Matchain, it hit 1M Telegram users
Phantom Arena, a web3 game built on the Matchain network, shared updates and the team’s experience at Token2049
“IAMDOG” launched its tap-to-earn minigame on Matchain
Matchain CEO Petrix Barbosa won the best CEO award during a side event at Token2049
To get this newsletter delivered to your inbox every other Wednesday, subscribe here.
This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.