To be honest, I didn’t expect that there would be a follow-up to yesterday’s article, and the follow-up was so outrageous that it almost made me laugh to death.

Original link: You can’t afford Bybit if they trick you into registering but don’t deliver benefits?

Ju Zuo will first tell the story here, and then do an in-depth industry analysis.

After the article was published yesterday, Juzuo also sent the article to the people from bybit. The other party said that they were actively dealing with the problem, and would issue an announcement in the evening and compensate users later.

But the final result was that nothing came of it.

Bybit did issue an announcement last night, but to be honest, it didn’t provide any solutions, which was equivalent to forcibly putting an end to the matter.

Let’s take a look at the bybit announcement:

1. Failed to participate - This is not my fault, it is the user's own problem.

2. The quota for event rewards is full - I have sent them all out, and it’s not my problem if there are no more.

3. The account violates the activity conditions - forget about getting any freebies, you just don’t have any.

So basically, bybit has accepted this and won’t bother with it anymore. Let’s just leave it at that.

Ju Zuo thinks that this solution is not bad. It is like cutting the Gordian knot, or taking drastic measures.

Let users curse as they please, it won’t last long anyway. But if they continue to pester you, things will only become more and more complicated.

Because the coins provided by the project party are indeed limited, it is not worthwhile to pay for it yourself.

And based on the content and attitude of the announcement, the number of users registering for LuMao this time should far exceed Bybit's expectations.

So instead of offering any compensation plan, it is better to just cut it off across the board. There is no more, the quota is full, or there is too much wool to be wooled.

There is no way, who made the design of this activity flawed at that time? Even according to the strictest level, a recharge of 1000u can guarantee 150,000 dogs, and the expected price is 300u. Even the current price is still around 200u.

Whether from the perspective of users or wool, a single return of 20% is indeed worth a try.

But the problem is that the number of coins given by the project party is limited, which makes it so that there are too many people and too little porridge. No matter how it is distributed, there will always be people complaining in the end, and the processing cycle will be lengthened, and the negative duration will also be lengthened, so it is better to just cut off the supply.

Overall, this solution can score 80 points.

But the story about dogs is not over yet.

As we all know, at the beginning, OKX also had coins given by the project party, but there were no activities.

But just the night before yesterday when users were in high spirits, OKX was already preparing for the dogs event, but before releasing it yesterday, it saw Ju Zuo’s article and quickly modified the event plan.

Although the rewards offered by OKX are not as many as those offered by Bybit for a single account, the rules are relatively complete. After all, there are precedents, and it is definitely not worthwhile to fall into the same trap again.

But to be honest, I didn’t promote this activity.

On the one hand, I don’t make money from commissions, so this matter can be a big or small matter to me.

Secondly, the matter has reached its final stage, and there is not much point in interfering with it. It makes me seem like I am a fence-sitter, indecisive.

At present, Binance is still the biggest beneficiary of this wave of activities. Everyone’s evaluation is that Binance is more practical, you can get gifts when you deposit, the activity rules are complete, the redemption process is clear, and the user experience is relatively good.

This is mainly because Binance’s IPOs have been very mature in the past, so this kind of event marketing is easy to do.

After talking about the situation of these three companies, let’s talk about something more in-depth.

Have you noticed that it is just sending some dogs to users, why are there such big differences among several major exchanges? Even the public opinion is in a mess?

In fact, through this activity, we can see the operating strategies, attitudes, and bottom lines of several exchanges.

Binance is advancing steadily, has a solid technical foundation, and is familiar with the process.

OKX has a Buddhist attitude, focusing on compliance, not seeking merit but avoiding mistakes.

Bybit wants to use this incident as a springboard to develop spot goods and overtake others.

But there is a pain point that all current mainstream exchanges cannot ignore:

The flow of funds.

The flow of funds originates from user operations, and this wave can also be said to be a competition for users.

Why are several large exchanges willing to endorse dogs? Because there are not many people in this wave of users who originally came from the cryptocurrency circle, and most of them are tg users.

Although he endorsed dogs, he also achieved real user growth.

In order to better trigger user behavior, each company has also added conditions related to recharge.

But such an event planning scheme also highlights another embarrassing fact:

The competition for existing market share in the industry has become very obvious, and no one has enjoyed particularly good growth dividends for a long time.

If I don't participate in this activity, my users and funds will flow to other places, so I have to cooperate with the activity - even if I didn't have any plans in this regard at the beginning.

However, this is actually good news for players in the cryptocurrency circle. As the cost of acquiring users on exchanges increases, their own behavior will become more and more valuable, and it is estimated that there will be more and more behavioral incentives for users in the future.

To be honest, from my own experience, I don’t feel that the liquidity of the cryptocurrency circle has increased much due to ETFs or expectations of interest rate cuts. On the contrary, the liquidity of many sectors is drying up or even exhausted.

There will be a special article on this topic later. If you are interested, please click to read it. The more you click, the faster the update will be.

Let’s talk about this today. I hope you will become more and more valuable in the future.