Nektar Network: Driving Deposits Through Points and Referrals

What is Nektar Network?

Nektar Network is a multilayered restaking network built on top of Ethereum. It consists of components that together form a comprehensive incentives system designed to democratize access to Ethereum's trust model.

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The Challenge

In May 2024, Nektar Network expanded its ecosystem by introducing new vaults and investment strategies that generate yields in the DeFi space. To increase adoption and usage of these innovative strategies, the network concluded that combining a points and referrals program was the best option. This initiative aims to attract new users and foster active participation in the network.

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The Solution

Nektar Network has launched a strategic points program designed to reward active participation with a reward called "Nektar Drop". Users earn Nektar Drops by engaging in various activities within the Nektar ecosystem. Eligible actions include ongoing ETH deposits in Enzyme vaults, Reserve bsdETH initiatives, Sommelier vaults, among others.

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Furthermore, they have complemented this program with a referral system where users earn Nektar Drops by inviting friends to join and participate in the network. To facilitate these programs, the Nektar Network team has implemented the Fuul SDK, integrating vital components such as leaderboards, user point tracking, referral links, and more.

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In this campaign, Nektar Network used Fuul as the main hub to consolidate all points, including those from questing platforms. This integration allowed for seamless tracking and rewarding, creating a unified experience for participants and simplifying the entire points management process.

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Results

During the execution month, the points program attracted over 2,600 participants, significantly increasing user engagement and deposits in the yield vaults. In total, approximately 34,800 ETH were deposited across various vaults, and these funds remained on the platform throughout the program.

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Conclusion

Nektar Network's points program highlights the effectiveness of the Fuul platform in enhancing user engagement through strategic incentives. By implementing rewards and a referral system, Nektar significantly increased participation and deposits in its yield vaults. This success demonstrates Fuul's potential to transform marketing strategies in the DeFi space, leveraging innovation and strong team support.