Our core tech, $ENJOY tipping on Zora, serves primarily as a distribution mechanism to get $ENJOY in the hands of quality onchain creators and curators. After almost 40 weeks of the v1 implementation, we had more than enough data to evaluate the system's success. The key learnings:
Too heavily favored historical activity
Too difficult to increase your allowance
Weak incentives for using, holding, and LPing $ENJOY
The leaderboard didn't leverage activity for distribution
Too much friction to start enjoying
Not that fun tbh
With that, I'm enjoyed to announce $ENJOY Tipping V2 🔵❗❗❗
All Zora users now receive an allowance, which is no longer ranking-based. Instead, each user earns a base allowance worth up to 50K points based on 5 categories. Each category is worth up to 10K points and is calculated based on the previous 4 weeks of activity:
Superfans: collectors who collected 4+ posts
Tips Received (Value)
Early Mints: Posts minted that reached 200+ mints
Referral Fees Earned
Allowance Used %
The base allowance receives a multiplier based on the lowest total of combined $ENJOY holdings and Uniswap v3 LP contributions during the previous week. The multiplier starts at 500K combined balances/LP contributions, increasing by .002x for every additional 1K $ENJOY.
All of the above can be considered a work in progress, we'll likely make adjustments. The hope here is a significantly more engaging and dynamic allowance system that rewards true enjoyoors. To that end, we are nerfing farmers hard.
Tips on posts priced in ERC-20s are no longer considered valid. Most farming is accomplished by pricing posts at 1 $ENJOY, making tipping a profitable endeavor for jerks. Like the other updates, we'll monitor the effects of this change.
Along with the new allowance system, we're also freshening up the leaderboard. Rankings are now based on $ENJOY received (creators) and distributed (collectors) with weekly and monthly views. We believe $ENJOY tips are high-signal and, once farming activity is culled, the leaderboard will prove useful for finding the most enjoyable creatives onchain.
There's much more cooking at $ENJOY HQ. Most notably, we're building "Enjoy Protocol" (name wip), which turns communities into content networks. We'll dogfood this to highlight the incredible talent in our community, and show that creating onchain doesn't have to be pvp. We're also working on getting $ENJOY on Base. The long-term vision for $ENJOY is cross-platform and cross-chain.
Since $ENJOY Tipping V2 is technically two updates, we've got two tasty promo mints for you courtesy of blank and ranxdeer. Elite levels of enjoyment imminent. Mint them on enjoy.tech to earn some sweet, sweet $ENJOY 🔵❗❗❗
Season 5 ended today, and Season 6, under the new allowance system, will run through January 6.
Season 5 claims will open later this week, as we're still cleaning some data related to the new Zora comment system. Follow /enjoy on Farcaster or follow us on X for an update!
