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

Conversion Events

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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Payout Rules

Nektar issued points for each ETH or derivative deposited per day. Scores varied among the different integrated protocols, while 10% was awarded to the referrer.

Incentives Hub

To facilitate these programs, the Nektar Network team implemented the Fuul SDK, integrating essential components like leaderboards, user point tracking, referral links, and more.

In this campaign, Nektar Network used Fuul as the main hub to consolidate all points, including those from questing platforms and protocols such as Silo Finance, Beefy, Aerodrom, Diva, Galxe, Zealy, Morpho, Ionic, DLC, Angle Protocol, Re7 Capital, Sommelier, and ExtraFi. This integration enabled seamless tracking and rewarding, creating a unified experience for participants and streamlining the entire points management process.

“With Fuul, we set up referral and staking incentives for Nektar Vaults across top DeFi protocols like Morpho, Enzyme, and Sommelier—completely independent of our dev team. This freedom allowed us to focus on strategy while Fuul handled all points tracking, ensuring a seamless and efficient airdrop process.” - Jorge Cuartero, Co-Founder

Results

During the program's execution month, participants grew 10x, leading to a substantial increase in engagement and deposits in the yield vaults. In total, approximately 34,800 ETH were deposited across various vaults, with these funds remaining 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.