From Incentives to Screening: The Evolution of Points and Alpha Mechanisms in the Web3 Ecosystem

In recent years, the points and Alpha mechanisms in the Web3 ecosystem have undergone significant evolution. From being initially simple transaction incentive tools, they have gradually developed into important means for platforms to regulate user behavior and filter high-quality participants. This transformation not only reflects the adjustment of platform strategies but also embodies the reconfiguration of the relationship between users and the ecosystem.

Evolution of the Points System: From Rebates to Ecological Scheduling

The early points mechanism mainly involved simple transaction rebates, aimed at increasing trading volume. However, this approach struggled to retain long-term users and could not create genuine community stickiness.

With the emergence of projects like Binance Launchpad, points have started to be linked with "opportunities". Users can earn points by holding or staking, which in turn gives them the eligibility to participate in high-quality project IDOs. This marks a shift of points from being merely rewards to becoming a tool for screening users.

The DEX ecosystem has reshaped the meaning of points in a more aggressive way. Represented by Uniswap, points are no longer just short-term rewards, but are directly linked to protocol governance rights. Curve's introduction of the veToken model further strengthens this trend, making points a key element in determining governance rights and the distribution of ecological benefits.

Nowadays, both CEX and DEX are strategically designing point rules to regulate user attention, asset flow, and even the development direction of the entire ecosystem. Points have transformed from a simple trading incentive tool into a deep-level ecological strategic weapon.

Alpha Mechanism: From Ambiguous Expectations to Ecological Drivers

Compared to the clear rules of points, the Alpha mechanism drives user behavior with a vague but strong expectation. It may not be directly related to points, but it often stimulates the strongest desire to participate.

The charm of Alpha lies in its uncertainty. It is precisely because users are not clear about the specific reward mechanisms that they are more easily driven by the psychology of "there may be gains" to participate actively. This vague hope is more attractive than clear rules.

Currently, the mainstream Alpha models can be divided into three categories:

1. Narrative-driven: For example, zkSync, StarkNet, etc., rely solely on rumors of "possible airdrops" to stimulate user interactions on the chain.
2. Points Linked Type: For example, Binance Alpha Points, which clearly tie Alpha to points.
3. Behavior Capture Type: Such as LayerZero, Blur, there is no formal points system, but user behavior data is recorded secretly.

However, the Alpha mechanism also faces the risks of over-stimulation and behavioral alienation. To address this, the platform has begun to experiment with a "points + Alpha" hybrid mechanism to achieve more refined control. For example, the Binance Alpha Points model sets clear points rules while also introducing a lucky mechanism to seek a balance between traffic management and user screening.

It is noteworthy that Alpha is transitioning from a mere "reward" to a "symbol of identity". User participation is not only for short-term gains but also for recognition as long-term participants and co-builders of the ecosystem.

Dual-track Drive: The Synergy Effect of Points and Alpha

Currently, Web3 platforms are gradually forming a dual-track driving mechanism of "points + Alpha". Points provide clear behavioral guidance, while Alpha creates a vague but strong motivation for participation. This combination not only optimizes user stratification and filtering but also significantly enhances the platform's ability to control the rhythm of the ecosystem.

Under this mechanism, user behavior has also changed. They no longer act solely for the purpose of redeeming rewards, but instead focus on building a "points identity" within the platform, while looking forward to the realization of some future Alpha. This mindset of "participation equals candidacy" transforms users from short-term actors into long-term asset co-creators.

The Blurred Boundaries Between CEX and DEX

With the continuous evolution of mechanisms, the boundaries between CEX and DEX are becoming increasingly blurred. The two types of platforms are learning from each other, gradually integrating, and moving towards building a more stable user participation system and ecological collaboration mechanism.

CEX has started to introduce concepts such as on-chain behavior snapshots and wallet binding, and is experimenting with light governance modules. Meanwhile, DEX has introduced a points system and task structure, which traditionally belong to the operational methods of CEX. This integration not only changes the way platforms operate but also reshapes user participation behavior.

In the future, points may no longer be limited to a single platform, but will form a "trust network" that recognizes cross-ecosystem interactions. Users' actions on one platform may affect their rights on other platforms. This means that users will face not only "how many points they earn", but also "how the entire Web3 ecosystem evaluates me".

Conclusion: From Incentives to Identity Building

Looking back at the entire evolution process, we can clearly see that the key to user retention lies not in short-term incentives, but in mechanism recognition. Points and Alpha have evolved from mere reward tools to an important way for users to build their Web3 identity.

The competition between platforms has shifted from simply "who offers more" to "whose system can retain users better." This is a profound transformation from a battle for traffic to a battle for structure, from incentive games to identity construction.

In this new era, users are participating not only in a points game but also in a construction of identity about "who am I." The platform's task is to design an ecological order that encourages users to willingly participate in and co-build over the long term.