Poll Results on Strategies: Spending

It’s better to be conservative and not spending too much in bear market (except for building), since its ROI in bear market for many initiatives are very low. But building in bear market is always the right way to prepare for the bull market.

🛡Rongjian

double down on bear market is the right strategy to get the biggest return when the bull is coming; we just need to spend wisely in terms of which area; development and building, and investment should be high priority, instead of PR/Marketing

🏃Leo

We should double down, but I’m not sure we can responsibly use the capital in that short of a period.

🎽Li

I would like us to go all in when our technology is complete (cross-shard working flawlessly, wallet that is compatible with defi/nft/game exists, near-complete decentralization of the network (resharding, stateless, prune), most bridges are trustless). Given that this would take at least end of this year, i could only see maximum ROI starting early next year, if we are lucky the bear market could buy us some time.

🏏Ganesha

🛹Peter

While time is of the essence - we need the time to design and build. Running too quickly without planning where you are going is a path to dead-ends and disappointments.

🌲Sam

Time is of the essence. We need to double down for the short-term, especially during bear markets while keeping an eye on the bigger picture and longer-term goals.

☁️Giv

investing more in builder during the bear market would allow a bigger growth during bull. However we shouldn’t be too extravagant and have conscious and well spending of the project we are invest in.

⚔Soph

We must define strategies for short, mid and long terms, and we must adapt. Also, investments today will inform spending in subsequent cycles. Finally, I do not think there is necessarily a direct relationship between bootstrapping and spending, since this approach require multiple iterations over time, therefore MVPs will need at least as much funds today as they will need in the next quarter.

🚗Boris

Dollar cost averaging our spends across all seasons. We shouldn’t be exuberant when it’s ATH, we shouldn’t be too frugal when builders are building without the crypto craze noise.

🐉Jack

A failure to plan is a plan to fail. We should be very conservative in the short term until we have clarity on the vision moving forward as well as the team in place to build that vision. Once the plan is in place, go gangbusters executing that plan, then pullback to see the results, re-evaluate, then continue building.

🎥Adrian

Immediate future should be on defining our focus and planning how we will be communicating that to the masses. After that, we should market our focus and upcoming technology/partnerships/acquisitions/etc. to build hype and awareness, then continue going all in on our execution and further marketing efforts in 2023.

🔭Daniel

I agree with Adrian and Daniel, once we have a clear vision with a plan to execute, we will know where to focus our spending. Ideally we will have clarity as soon as possible so we can take advantage of the bear market, spend cautiously and wisely, in hopes of high ROI during a bull market.

🎬Danny

sorry to be a downer but I worry this is our last chance to remain relevant.

⛵Hakwan

Our immediate focus right now should be building

🎤Matt

I agree with Sam in that we need the time to design and build. Without planning a feasible goal, strategy, and execution, we will not have a viable metric of our successes.

💃🏻Essa

If we can more confidently set direction and manage allocation at meeting, I would shift more between 3/6 month windows.

🦒Brian

agree with RJ and Li. we should be a cautious investor in general. we should getting serious about sustainability of Harmony.

🐯Tom

working in calm waters - bear market and woking in high tides are both effective

⚽Abhishek

I prefer to be conservative. Build, and they will come.

🛰️Max

I don’t think we should spend much while bear market, better wait bull, if it will come.

⛓️Konstantin

🪙Gheis

💊Sahil

⏳Zi

💻Aaron

Bear market may be the best time to invest in development and partnerships.

⚛Jackie

I am going to have to agree with RJ here: “It’s better to be conservative and not spending too much in bear market (except for building), since its ROI in bear market for many initiatives are very low. But building in bear market is always the right way to prepare for the bull market.” Being conservative with spending, and bringing on the necessary talent to build infrastructure is a viable pathway to ensuring longevity of our chain.

🐇Rachel

While I can’t see the future, I am a proponent of spending money quickly to incentive growth. It is a central strategy to most strategy games. However, diversifying across several quarters is likely the most responsible move.

📖Devin

Focus on quality of the fund rather than amount of the fund

🐐Mikey

If spending with conviction, go for it in the short-term. If not, I’d hope we’re at least yield farming it in stables.

🚜Demetre

For external communications, we need to create a roadmap to communicate a long term vision. This volume of work, along with potential opportunities, will continue to grow as Harmony becomes better known. Harmony should take time now re-focus and plan to ramp up.

💿Kelly

Double down in the bear market - stay focus and develop the appropriate infrastructure and technology (based on the chosen strategy). Then, follow through with marketing, PR including social media. Training and user education made easy is extremely important for successful on-boarding. Because of the bear market - be selective about projects. Invest in the right talent and build strong partnerships. Cross leverage when necessary. I.e. if funding scholarship program - get the benefit of scholars helping to become ambassadors of Harmony, promote on social media, write Medium articles about Harmony, participate in Hackathons, winning projects to be given grants to build on Harmony, etc. Also, potentially have scholars be very targeted on builders, and journalists (so they can write about their positive experience). In this case - one particular spend (i.e. in scholarship programs) achieves multiple objectives.

🌟Novell

Invest in a bear market, but ensure projects and investments have the vision and wherewithal to keep building. Retain budget to invest in marketing and user onboarding as projects become ready

🤖Eric

bear market is a cycle, we always know it comes, so i guess double down on development and following our strategy is not a bad idea; not sure if we should spend a lot for marketing/pr though

♒Nick

When Ethereum was in the bear market a lot of core development happened. DeFi was born in the bear markets. Investing in bear markets will help us target and identify those projects which have long term viability because those passionate and dedicated to the cause would work through choppy waters. Basically, keep investing and focusing on our core strengths, ignore the market high/lows and continue to deliver real, tangible benefits in the blockchain space. I put 30 for the first column because our token would be worth less during these times.

🧑‍🍳 Victa

🐙Sergey

📱Tejassvi

Slowly increasing the investment towards the end of 2023 that way we can take the most advantage when the market it in its lowest engagement;

🏔Diego

We should do some basic building in bear market so that we can be better positioned in the bull market.

🏓Xiaopeng

🍩Bruce

🥤Jeremy

🚛Mohamed

🛫Tahir

🎯Hochung

I am wildly unqualified to comment here without context on plans/goals :) - but spending quickly pretty much never goes hand in hand with spending effectively, so I’d err on the side of staying away from that option unless there’s a super crystal clear plan to execute against.

💣Paola

I’ve always heard fortunes are made in the bear market. Let’s double down on ours and build during this time and show users we aren’t going anywhere.

🍄Darren