Crypto Assets users show a higher tendency for instant gratification

Research shows that Crypto Assets users are generally more inclined to pursue instant gratification compared to the average population. This finding comes from a survey study on the behavioral characteristics of Crypto Assets users.

This study uses the hyperbolic discounting model to analyze users' decision preferences. This model describes individual time preferences mainly through two parameters: immediate inclination (ꞵ) and discount factor (𝛿). Immediate inclination reflects the importance an individual places on current returns, while the discount factor measures the rate at which the value of future returns depreciates over time.

Research results indicate that the immediate inclination of cryptocurrency users is generally higher than 0.4, while the discount rate is significantly lower than that of the general population. This means they are more inclined to choose immediate returns rather than wait for potentially higher gains in the future.

The reason for this phenomenon may be related to the characteristics of the Crypto Assets market:

1. Market cyclical fluctuations: Crypto assets prices often experience significant volatility, which may lead users to favor short-term trading over long-term holding.

2. Views on token value: Users may hold a cautious attitude towards the long-term value of the token, which affects their investment decisions.

3. The Popularity of Speculative Applications: In the current Crypto Assets ecosystem, many successful applications have a strong speculative nature, which may attract more users seeking short-term profits.

These findings are significant for designing token distribution strategies. For example, a trading platform adopted a delayed reward mechanism when launching its native token, offering double rewards to users willing to wait 6 hours to claim the airdrop. The results showed that approximately 85% of users chose to wait to receive more rewards.

This case illustrates that although Crypto Assets users generally show a higher tendency for instant gratification, it is still possible to guide users towards choices that are more beneficial for long-term development through well-designed incentive mechanisms. For project parties, understanding and utilizing these behavioral characteristics can help them formulate more effective token distribution and user incentive strategies.