The decrease in activity from February to March can be explained by the fact that the flight academy appeal form was opened right after TGE and people were actively discussing it. There were also a lot of questions about the token claiming process, retroactive rewards, etc. The vast majority of these discussions took place in January and February 2022, after which people had their questions answered and their interest in the protocol decreased because they were essentially not interested in the protocol itself, but only in the rewards.
The second decline in activity was due to the market crash. After the collapse of UST, the insolvency of 3AC and other negative events, people are much more cautious and wait for more favorable market conditions to continue their crypto-related activities. And this problem affected not only the Goldfinch community, but also the market as a whole.
Of course, we could at any time attract new members to the community or bring back old ones who participated during the flight academy by announcing new contests and GFI giveaways from the treasury for creating memes, tik-tok dancing, etc. But what’s the point if we have a lot of community members who are in the community only for the sake of easy money and airdrops, but not to participate in the protocol itself? It was a good step in the initial stages to spread the word about the protocol, but now we need a different approach.
I believe our main goal is to attract valuable members to the community, and here quality is more important than quantity. I think that one person who contributes significant liquidity to the protocol as an LP or as a Backer will be much more valuable than 50 people who come here and have no interest in the protocol.
And I also think the members of Warbler Labs have the same vision, which is why GIP-14: The Credit Analysis Pilot Grant focuses on the qualitative contributions of protocol participants, not the number of those participants.
So I believe that community performance should first and foremost be evaluated based on protocol metrics. And if you open Dune, you will see that before the market collapse, TVL, Active Loans, Protocol Revenue and other metrics were showing growth month after month.
Yes, growth has slowed down now, but, as I have already said, this is not a problem of Goldfinch, it is a problem of the market as a whole. I don’t know when the market will start to recover but in my opinion the community management structure in this proposal in terms of the number of participants, the list of responsibilities and the number of working hours is optimal both for the current stage of protocol development and the tasks available at the moment, and for the future, if during these 3 months the market will begin to recover and it will be necessary to increase our activity.