We recorded a new all-time-high adoption rate of Pillar over the weekend with the release of our Smart Wallet, making the past few days the most eventful ones of the lock-down so far.
We’ve promised a referral campaign at our General Meeting in January, but we expected it to last longer than 40 hours…
After last week’s launch, it’s clear that Pillar Wallet has got the technology, features and consumer appeal to raise a lot of interest.
Within the first 72 hours of the release we’ve recorded:
- 8,631 new users joining Pillar
- 2,549 users with referral rewards
- 4,743 Smart Wallets created
- 15% growth of the Telegram community
We’ve seen some ice hockey sticks in our daily users and growth dashboards so needless to say we’re excited by all the new traffic!
So what happened on Friday night?
The 250 PLR reward proved lucrative enough triggering people to send multiple referrals to themselves. While our deep linking services blocked some of the bots doing this, the sheer amount of unique individuals trying to connect was enough to overwhelm our services.
We introduced temporary geographic restrictions in service availability, and after that, the weekend proceeded with no further incidents.
Retaining all our new Pillar users
Now we have one of these great problems – making sure that we retain as many of our new users as possible.
Pillar is the wallet for the people and a project owned by the community, hence we want to make sure that we convert newcomers into long term users. This means attracting users who will utilize our in-app services on an ongoing basis.
The goal is to encourage new users to use their 250 PLR rewards to cover wallet operations and explore Pillar’s services. As we want to ensure sustainable growth, we will analyze the referral registration behavior of the past weekend and fine-tune our future campaigns.
Based on this analysis, we’re introducing some changes:
- We will limit SMS availability and phone verification as higher failures were observed in certain jurisdictions.
- We are introducing a minimum sell order size of 1000 PLR in the Offers Engine in order to prevent dumping right after receiving referral tokens.
We are committed to continuing the referral program, but in a slightly different form.
Game of Badges – here we come again!
Our commitment to the referral program continues with special badges for the 1st, 5th, 10th, 25th, and 100th invites on offer. We will start rolling them out from the next month.
The users you invited will have the cost of initiating their Smart Wallet covered by Pillar. We will be letting you know once you’ll invite your friends again and get rewarded with new badges.
Stay tuned for more info about our future referrals.
Our first referral campaign was quite an adventure, and these learnings will help us create an even more engaging campaign in the next phase.
Thanks to everyone who joined us recently. We’re working on bringing you the best experience and we’re thrilled to have you with us.
Welcome and enjoy your Pillar journey! 🙌
If you’ve participated in campaign #1 and you were among the first 1000 referrals, you should see 250 PLR tokens added automatically to your Smart Wallet balance.
In case you have any other questions, read the FAQ in our knowledge base.