Ever wonder what actually drives growth in Web3 projects?

Here's the thing: most referral programs get it backwards. They obsess over head count—more invites, bigger networks, period. But quantity without engagement is just noise.

The smarter approach? Tie rewards directly to what users *actually do*. Real transactions, genuine participation, meaningful activity. That's where sustainable growth happens.

When incentives align with real value creation instead of vanity metrics, networks build differently. Stronger communities emerge. Projects scale with quality, not just quantity.

What's your take—have you seen referral programs that really got this right?