In a recent blog post titled "Points Guard," former BitMEX CEO Arthur Hayes argues that "points" could be a more effective alternative to initial coin offerings (ICOs) and yield farming for crypto fundraising and engagement. Hayes acknowledges the benefits of ICOs and yield farming, but also highlights the challenges they bring to crypto projects, such as regulatory hurdles and rapid inflation of token supply. He suggests that points programs could be a solution, allowing projects to incentivize user participation without immediately issuing tokens. Points could be converted to tokens at the user's discretion, avoiding the need for a contractual relationship and potential regulatory concerns. However, Hayes points out that trust will be crucial for points programs to succeed, as bad actors could potentially abuse them. He predicts that successful Web3 projects may adopt points programs before token generation to drive protocol usage and create hype. Read more AI-generated news on: https://app.chaingpt.org/news