It depends on the structure.

User acquisition campaigns can be strategic if they drive real onboarding and durable participation. However, conditioning a security deposit on aggressive acquisition thresholds can distort incentives. It may encourage inorganic promotions, inflated metrics, or short-term marketing spend that does not translate into sustained activity.

The key question is whether the targets align with genuine ecosystem growth — or simply serve as a risk transfer mechanism from the exchange to the issuer. These clauses should be evaluated carefully before committing capital.

Any such agreement should clearly define "qualified user," measurement methodology, and realistic benchmarks. Growth should be sustainable — not manufactured.