Odaily Planet Daily News Binance Labs proposed five key points for Web3 start-ups to achieve product and market fit, namely: user-centered development, iterative evolution, focusing on in-depth community participation, leveraging network effects and sustainable growth.
Regarding how to achieve product-market fit, Binance Labs said: “In the process of finding product-market fit, think about your metrics and what they mean. Acquiring users and developers is one part, retaining them is another, and really Growth comes from user retention. If the product is not used, this will be reflected in the retention statistics. Define your product usage - for example, for transactions or with practical benefits. Have fewer developers but higher product usage rate is preferable to having more developers but lower product usage. Ideal product-market fit involves both an increase in the number of developers and an increase in product usage."