Coinbase Earn: how do we double the number of MakerDAO users in two days?

BlockBeats: on July 26, 2019, Coinbase Earn launched Dai Advanced Task (Dai Advanced Task, a course of Coinbase Earn). Within days, users created more CDPs(Collateralized Debt obligations) than ever before. BlockBeats understands that in the previous 11 months, users created about 9,000 CDPs on the blockchain using MakerDAO. Dai Advanced Task was launched on July 26, and more than 10,000 CDPs were created in the two days following its launch.

So how has Coinbase Earn helped the largest decentralized financial platform grow so quickly?

Coinbase Earn is a platform that connects community users to foundations like MakerDAO. BlockBeats learned that the product allows users to learn cryptocurrency by watching educational videos and performing tasks. This is a way to help educate encryption buyers so they can not only buy an encryption pass, but also understand the underlying infrastructure and network.

Data show. The impact of Coinbase Earn activity is persistent and may extend to several months after the release of the tutorial. And it suggests that the network's continued growth far outweighs the initial new-user effect. While the lesson exposed many new cryptography enthusiasts to blockchain debt positions, it has yet to significantly change the value of the total debt position.

Block rhythm BlockBeats see, Coinbase Earn tutorial is very easy to understand, to Dai Advanced Task, for example, Coinbase Earn will first ask the user what is the Task of the tutorial, then guide the user downloads the wallet APP, link to Coinbase purse, but here also has a step, Coinbase Earn money will distribute to users test, and then lead the user to enter Maker, finally completed the course of users will be rewarded.

Coinbase Earn points out that when users are learning courses and actually trying such decentralized financial products, the following problems will occur: 1. 2. Difficult to operate.

Fear of loss

The solution: Coinbase Earn directly provides users with the money they need to complete the course (in this case, the small ETH fee required for the transfer) to avoid this concern.

Difficult to operate

1. The cost of gas will vary according to the demand.

Solution: Coinbase Earn's internal back-end system built with the cryptography team monitors ethereum gas prices for its users.

2.Maker's UI design is not friendly to mobile users.

Solution: the Coinbase team worked closely with the Maker team to modify Maker app to make it more suitable for mobile devices.

3. Determine if the user has successfully created the CDP (reward for success).

Solution: create a crawler, and Coinbase Earn specifically builds a crawler to monitor DAI creation events. Coinbase Earn rewards DAI to the user's Coinbase wallet after confirming that the user has completed the course.

Original address:https://blog.coinbase.com/how-maker-dao-doubled-its-users-in-a-single-weekend-using-coinbase-earn-7ed2a2974f13

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