KASPA (KAS) has seen a meteoric rise from $0 to $1B in MC from 2021 to now. I’m studying them so we can learn what they have done to achieve such impressive results.
KAS was launched in 2021 with no premine and no VC backing. The lead dev is a post doc at Harvard and is referenced in the original Ethereum whitepaper. The community bills him as one of the smartest devs in the space. KAS is a PoW DAG. Settlement is almost immediate and they do have fees. Their wallets are a PoS (Piece of shit) and they do not have smart contracts yet. In 2 years they have emitted > 70% of their tokens.
They are working on an upgrade to their consensus protocol to DAG KNIGHT. The founding dev wrote the paper and published it in 2023. That will allow KAS to settle > 2000 tps. They are working on a ledger integration and have submitted for review (same as NoM).
KAS has many exchange listings. They don’t have an on-chain funding mechanism. They pass the hat and the community pitches in to fund stuff: dev work, listings, marketing. etc… They currently have about 90k in their treasury. Their community has an “org” structure. They have devs, marketing people, community moderators, etc… One person is responsible for listings and is working with several institutional OTC desks.
All of this in 2 years. It’s impressive. I believe they have achieved such rapid growth because of the following:
- Unique consensus (DAG) that is fast with a cool visual explorer https://kgi.kaspad.net/. It’s easy to show people this to explain how KAS works. For example, BTC stacks one block on top of another and its slow. KAS processes blocks in parallel and it’s fast. Easy to say, remember and understand. Who know if it works…
- They are PoW with a fast emission schedule: 71% in 2 years. Who knows how they handle fees and if this is sustainable. But they’ve gotten to 1B and they are still growing. When ETH went offline degen miners were looking for something to do. Perfect timing for KAS to jump in.
- Their lead dev is smart and well published. People who don’t know anything about crypto are impressed by this. But I’m sure he is very smart.
- The community is out marketing the project all the time; on twitter, spaces, youtube, etc… The tech is simple enough for any established community member to explain the tech. And the people explaining it are not like Kaine. They are normal people who connect with normal crypto enthusiasts.
- Community does not ask for tokens to do stuff. There is no on-chain funding mechanism so no one expects anything. They do it on their own accord.
- They have a few simple selling points:
- BTC is to gold as KAS is to silver
- BTC processes blocks one on top of the other, KAS processes in parallel. They are the fastest PoW blockchain out there (not sure if that is true)
- Our devs are brilliant and cited in the ethereum white paper
- They are selling speed that does not exist yet. DAG KNIGHT (> 2000 tps) is not implemented, but they are selling the roadmap that it’s coming.
- They sell fair launch. They sell it on every twitter spaces.
- We need a simple message or messages that resonates. It’s easy to say, remember, and explain.
- We need more community members talking about NoM on twitter, spaces, and other venues.
- We need a roadmap and sell it. We need to give community members the tools to explain the road map and refer technical questions to the experts (devs).
- We should not be afraid to sell our road map. Ethereum was selling shading and now they are selling blobspace. Shit changes. We should not be afraid to change too.
- Specifically, I think we should be targeting messaging around 100,000 TPS, feeless (maybe come up with a new word for it), P2P, and privacy at the base layer.
- We should consider a simple sentence to explain NoM: “Bitcoin is the foundation, Zenon is the extension: Feeless, Fast, and Smart.” Something like this.
- We need to develop a marketing plan, assign responsible parties, and execute the plan. This is like any other project. Need a plan and execute it.
- There is no reason we cannot go from 0 to 1B with what we have delivered to date and our amazing roadmap.
I do not own $KAS and I do not plan to buy any. I do not recommend it to anyone here.