Yam Brand Exploration Part 1: Brand Perceptions
This is part 1 of a multipart exploration.
The purpose of this post is to get input, critique and feedback on Yam Brand Perceptions from the community. The idea is to flesh, as best we can, the key perceptions of Yam.
Brand awareness at any given moment is made up of positive, negative and neutral perceptions which are defined in the lists below. From these lists the plan is to construct a “current perceptions statement”, and a “desired perceptions statement”. This will help to establish one of the foundational elements for branding, marketing, communications, and more.
Request for input
Please review the lists below and add, delete, debate, etc. All input welcome.
Positive perceptions are assets to be leveraged in strategy development, communications, marketing, PR, and branding.
- first food coin
- second fair launch
- founders are known/respected in industry (not all Anons)
- token distribution pools included tokens from eight top defi communities
- has a highly engaged and committed community
- raised 600mm+ market cap at one point
- early entrant in the yield farming space
- media coverage on Yam and the founding team
- no rug pulls or shady actions
- v3 has successfully launched with audited contract
- treasury has been built as a key asset
- donates to Gitcoin 1% of positive rebates
Negative perceptions are liabilities to be managed, changed and learned from. They are feedback which if ignored can cause problems, or embraced and potentially overcome.
- team launched with unaudited contract that had a show-stopper bug
- v3 launch had much lower involvement than v1
- v3 LPs expectations not met - many Yam holders have suffered losses
- rebasing is general misunderstood (meaning the project was misunderstood)
- expectations for high yield farming replaced by reality of extraction into treasury
- a lack of project purpose lead to confusion and misaligned expectations
- a lack of simple, clear information about the rebase mechanism
- ‘fomo in’ assumptions by investors and lack of performing dyor
- investors have defected due to dissatisfaction
- dissatisfaction is palpable in the community Discord
- Yam v3 token price is down from its high and well below the target rebase rate
- Yam v2 is still on the market and likely causing even more confusion
- calculating protocol value, market cap, token value are nebulous
Neutral perceptions can exist as neutral, or be captured and transformed into positive perceptions.
- Yam is still referred to in media confirming retained mindshare
- Yam is producing proposals and engaged in community governance
- Yam is still around and has an LP pool but few other sources of revenue at this time
- more to add here…