Rethinking Points

Why Points Are Absolute Trash

Listen up, crypto degens: what started as a galaxy brain idea to reward the faithful and boost community vibes in blockchain projects has turned into a total dumpster fire. Nowadays, points are just a sneaky pre-token generation event (TGE) trick to puff up valuations like some old-school tradfi pump-and-dump.

The Degen Dilemma of Point Systems

Originally sold as the golden ticket to value town, point systems have devolved into a chaotic mess. They’re basically crypto casinos where speculation beats actual participation every time. Devs dish these out like candy to hype up their projects, supposedly to fix governance or fend off airdrop leeches. But let’s cut the crap—it’s mostly about making the numbers go brrr.

Aight, so wtf is the deal with "points" anyway? 🤔

"Points" are the crypto world's participation trophies. Project devs yeet them out to spice up their protocols, supposedly aid in governance, or just to keep the airdrop-hungry masses at bay. Sounds legit, right? Well, pump your brakes, anon. Points are essentially a lure—come farm with us under the pretense of eventual token drops, beef up our metrics, and take on the risk of trying our half-baked products. But here's the kicker: while points scream, "Sybil farmers stay away, but hey, deposit and play," they also whisper, "Thanks for the metrics boost, but no tokens for you!"

The Dark Side of Points

It’s time to spill the real tea. These off-chain, pre-TGE "points" are nothing but a slick move from the old VC con book. They're about as transparent as a brick wall and ripe for manipulation. What’s worse? They’re basically just bait—keeping the real tokens locked away while everyone drools over the fake scoreboard. Here’s the breakdown:

• Manipulation: The lack of transparency makes it easy for project insiders and early backers to play the system while leaving others in the dust. Reminds us of web2, anyone?
• TVL Pump: Ever wonder how some projects boast of ballooning Total Value Locked (TVL) overnight? Points are often used as inflators, creating an illusion of bustling activity and financial health, which in reality, could be as empty as a deserted arcade.
• Token Delay: The real kicker with points is their role in delaying token issuance. This tactic keeps genuine assets out of the market and traders at bay, fostering an environment ripe for speculation and not much else.
• VC Strategy: With inflated metrics from manipulated TVL and pumped user engagement numbers, VCs find the perfect pitch to escalate valuations. It’s a numbers game where the higher the metrics, the higher the market caps, irrespective of the underlying value or utility.

What’s Still Good About Points?

Alright, they're not a complete facepalm. Points can still nudge folks to do stuff that projects dig. They're kinda like that dodgy nightclub promoter handing out free entry stamps—they keep the party bumping, but it’s all a show until the real headliner (actual tokens) hits the stage.

Chasm’s Giga-Brain Move: Glicko2 Ranking and Badge System

Fed up with the points charade? Chasm has the perfect antidote with their Glicko2 ranking system—an advanced version of the classic Elo system. It’s a no-nonsense, merit-based arena that genuinely rewards cognitive agility and dedication. Adding a twist to this, we’ve incorporated a badge system that turns crypto engagement into an intense competitive experience—think Fortnite, but for crypto enthusiasts. Collect, compete, and perhaps dominate.

My boy, these are not points; they are Elo ratings.

Unpacking Glicko2

The Glicko2 system, an evolution of the Elo rating system, is crafted to calculate the relative skill levels of participants in zero-sum scenarios like chess. It maintains the fundamental principle where each player’s rating adjusts based on match outcomes and opponent strength. However, Glicko2 introduces a measure of rating reliability and accounts for player volatility, making it a more dynamic and responsive system. This refinement has made Glicko2 a favored choice in competitive environments where precision in skill assessment is critical.

Why Glicko2 Ranking Is the Ultimate Edge in Crypto

Forget the consolation points—Glicko2 is where the real game should happen. Drawing from the strategic depth of its predecessor, Elo, Glicko2 intensifies the challenge by factoring in the consistency and strategic smarts of participants. In the merciless crypto realm, only the most adept and reliable players get to the top. Glicko2 leaves no room for fluff—every strategic decision counts, and any misstep, like a poorly configured server, could plummet your ranking. It’s tailored for the unpredictability of crypto nodes, maintaining a streamlined network where each score is a direct reflection of a participant's actual prowess.

Why Chasm Chose Glicko2?

Chasm is deeply engaged in crafting a decentralized LLM routing system that demands exceptional uptime and robust stability. The Glicko2 ranking system is ideal for this setting as it not only rewards outstanding performance but also aids in sculpting a sturdy network infrastructure. Inspired by the competitive spirit seen in networks like Bittensor and Commune AI, where we are active contributors, Chasm is committed to nurturing a fiercely competitive environment within our operations.

At Chasm, we’re putting our words into action by embedding a Glicko2-based system into our decentralized load balancer and routing for LLMs. This move is focused on driving continuous innovation and excellence through rigorous competition and clear, merit-based incentives.

Why? Because in our world, if you’re not first, you’re last.

How Chasm Network Operates

1. Initial Ranking Period: We start everyone on equal footing with a random distribution, ensuring that everyone gets a fair shot from the get-go.
2. Adaptive Phase: The Glicko2 system and Multi-Armed Bandit (MAB) Algorithm team up to fine-tune performance and foster sustainable network growth.
3. Season Reset: To maintain engagement and fairness, we implement seasonal resets—keeping the competitive spirit alive and kicking, just like in the most addictive games.

Metrics That Matter

For Season 0, our rules are crystal clear and transparent:

• Response Time: How quickly can your node deliver results? Speed is king here.
• Server Uptime: Consistency is critical; no one benefits from an unreliable node.
• Penalty System: Fall short in your node’s performance? Prepare to face the consequences as determined by our rigorous opML consensus—keeping everyone honest and on their toes.

Challenges with Glicko2 from Chasm's Perspective

The Glicko2 system is integral to Chasm's strategy for assessing and rewarding node performance, but it's not without its challenges. Implementing such an advanced system is complex and might not fully capture every dimension of a contributor’s value. While it excels in fostering a competitive, merit-based environment, it may not fully align with all the behaviors Chasm wants to encourage within its community.

Moreover, the intense focus on performance could potentially dampen the more fun and speculative elements that are crucial for keeping community engagement high and encouraging lively discussions. Recognizing these limitations, Chasm sees the value in integrating additional systems that can complement Glicko2's rigorous demands while supporting broader community development and engagement goals.

Badges: A New Layer of Engagement

Chasm's innovative badge system moves us beyond the traditional point systems, transforming them into a new form of crypto collectible. Much like how Duolingo engages users by rewarding language proficiency and progression, Chasm’s badges add depth to community interaction. Each badge functions like a mini-game with its own rules and rewards, introducing elements of surprise and strategy. The design is such that collecting one badge sets you on a path that may not predictably lead to the next, adding layers of challenge and engagement.

You obtain badges via Discord roles and SBTs.

Duolingo and the OG Scout Badges

Drawing inspiration from platforms like Duolingo and the original Scout badges, Chasm's badges are designed to foster consistent participation and reward positive contributions. This approach is crucial for the project as it allows Chasm to clearly see how different actions and incentives impact the community and make necessary adjustments. Building a vibrant community and culture is inherently complex; it involves continuous innovation and tweaking. Projects like Berachain, Monad, and Initia are examples of success in community building—they've cultivated strong, engaged communities not by adhering to standard methods but by pioneering unique and adaptable engagement strategies. A project without such tailored, distinctive strategies risks becoming just an empty shell, devoid of real community spirit.

Why We Think This Combined Approach Works

This hybrid approach seamlessly merges the rigorous meritocracy of the Glicko2 system with the engaging, gamified experience of badge collecting. It’s a strategy designed to balance performance with participation, making the Chasm community vibrant and dynamic. By fostering an environment that values long-term commitment and active participation, Chasm ensures that its community is not just about short-term gains but sustained, meaningful engagement. This dual system supports Chasm’s goal of creating a robust, interactive, and competitive community.

TL;DR

Points? They're basically obsolete. Chasm’s Glicko2 rankings and innovative badge system are revolutionizing the crypto landscape. We’ve developed a framework that genuinely rewards skill and authentic engagement, steering clear of superficial hype and empty speculation. Brace yourself—it's about to get intense in the crypto arena. If you're not ready to dive deep and play strategically, you might as well be just a spectator.