Moss,

I love you, so don’t take this the wrong way. Just giving you my thoughts.

I get the idea behind the referral system, but I think there’s a major disconnect between expectation and reality. The issue isn’t that people (who can really make a difference outside of Jordan) aren’t willing to promote DeSo or Focus, it’s that most don’t see a compelling reason to and don’t want any more reputational damage.

The reputational damage from multiple investigations and the Coinbase delisting makes DeSo a very tough sell. I tried with a few liquid funds/creators that I have great relationships with, and all of their responses were the same (pretty much what @TheETHNomad laid out in his comment). On top of that, the product isn’t there yet IMO. Onboarding has been extremely complicated, Focus is buggy, freezes, crashes, and I need to refresh every 60 seconds. The AMM is confusing, and retention is nonexistent.

The referral system worked with BitClout because it was a moment in time, new and novel. Now, there are a lot competitors offering 'similar' user experiences with strong incentives. Meanwhile, DeSo, despite having a $250M treasury, has no partnerships (that I know of), no BD, no marketing, and no developer support. If you truly believe great products can be built here, why not strategically deploy the treasury to drive developer activity, form partnerships, create liquidity, and generate actual momentum now that products are live?

It’s not about the 500 DAUs here writing posts versus promoting even though I get what you're trying to say. It’s about ensuring there’s something worth promoting. If DeSo wants organic growth, all of the above needs to be fixed IMO. I know you guys want a grassroots approach and to create a “killer app” to get the flywheel going, but I’m at a complete loss as to why we haven’t heard any news around treasury management and what that looks like in support of the ecosystem now that Focus (the killer app) and Openfund are out in the world.