Is Siren's $20,000 USDT Square Essay Contest a Marketing Trick or Just Bluster?
Today, wandering through the platform's square, one can clearly feel a wave of Siren fever coming on, with various related articles springing up like mushrooms after rain, each title more eye-catching than the last, making it hard to resist the urge of curiosity to click and explore.
Upon deeper investigation, it turns out that Siren has initiated a square essay contest, and the rewards are astonishingly generous. There are as many as 10 first prizes, with a bonus of up to 800 USDT, and even the third prize offers 240 USDT. It's worth noting that in the crypto world, many VC projects that claim to have billions in investment offer little more than this for essay rewards; Siren's bold move has indeed caught many eyes.
In the public's general perception, meme coins are like a gust of wind—they come quickly and leave just as fast, often just a simple meme, with prices skyrocketing only to plummet back to zero just as rapidly. Most projects of this kind lack a reliable supporting team; even if they do have one, the team may run away later, claiming to hand over control to the community, let alone organizing any essay contests to attract attention.
Regarding Siren's $20,000 square essay contest, at first, I, like many others, thought these people must be so flush with cash that they had to come up with this 'money-burning' activity. But upon careful consideration, I found that things are far from that simple.
From a marketing perspective, this essay contest is undoubtedly a successful plan. It’s as if Siren is shouting in the square, declaring to everyone: 'I’m not like those ordinary meme coins; I have unique charm and strong strength, come and get to know me!' This high-profile promotional approach not only bridges the gap with users, allowing them to feel Siren's approachability and openness, but also showcases its financial strength and marketing prowess to the outside world. It seems to hint to the market: 'If I’m this generous with my tokens, why would I fear a lack of funds to boost the market?'
This tactic is indeed clever; the $20,000 expenditure has brought multiple benefits. First, in terms of promotion, the event has sparked widespread attention, making more people aware of the Siren project, thus increasing the project's visibility and exposure. Secondly, the community atmosphere has been completely ignited, transforming a previously quiet community into a vibrant one, with noticeably more communication and interaction among users.
