If you haven’t read the MWG Creative Process primer, I recommend you do. In response to the creation of the multi-delegator tool, the Steering/Branding team of the Marketing Working Group created this brief.
We already have some direct actions that are coming from this brief which we will share in a post next week.
PoolTogether has always been viewed as the best on-ramp to DeFi. It’s simple to understand, secure, and fun.
The “Deposit Delegator” is a new feature built by the team at PT Inc. that sits on top of the PoolTogether protocol. The app enables anyone to delegate their deposit to other wallets. When someone delegates their deposit they keep full control of their funds but the wallet being delegated to gets the chances to win.
This means any wallet can win prizes on PoolTogether even if they haven’t made any deposit of their own! All they need is a wallet address. It also means existing depositors into PoolTogether can have their chances boosted by being delegated to.
What are we being asked to do? What are we trying to accomplish or make?
There are many use cases for this functionality. A short list is outlined below.
Utility for NFTs
Many NFT collections are looking to boost utility for their NFT holders. These collections often have large treasuries that are not being utilized. A portion of the NFT treasury can be deposited into PoolTogether and the chances to win can be delegated out to all the NFT holders. There is no loss to the treasury and funds can be withdrawn at any time. The NFT holders get additional utility
Rewarding POAP Holders
Similar to the above, communities can award people who hold POAPs by delegating deposits to them. This rewards the most dedicated users and brings utility to the POAPs
Driving App Usage
Decentralized apps that want to get more usage can run promotions where the award is delegation. For example, Polygon could say “Anyone who uses Uniswap on Polygon over the next 7 days will get a $100 deposit delegated to them”
Onboarding for Wallets
Delegation is very powerful because someone can get started without even needing to purchase cryptocurrency. This could be useful for a wallet campaign. For example, Coinbase Wallet could say “anyone who downloads the Coinbase Wallet app and setups up a wallet for the first time will get $1,000 delegated to them”
“Bring a Friend to DeFi”
Most of the use cases above are more “B2B” applications for the technology. There is also potential to highlight how the delegator can be used by people who want to onboard friends and family into DeFi. Simply have their friends download a wallet and then delegate to their wallet address!
PoolTogether, would like to launch an introductory campaign that considers these use cases and:
- Drives preliminary usage of the Multi-Delegator Tool
- Provides feedback on the necessary feature improvements/roadmap to allow for the scalability of the Multi-Delegator tool
- Sets the foundation for rapid growth of depositors and TVL via the Multi-Delegator tool
The long term objective of launching this campaign is to take advantage of PoolTogether’s position to rapidly scale user and total deposit growth in the protocol. The Multi-Delegator Tool will be integral to realizing this potential long term.
However, the immediate objective of this campaign is to build a ‘pull’ acquisition campaigns that involves outreach to and conversion of DAOs/Communities that:
- Prove the tool’s efficacy by driving ‘significant’ usage
- Generate detailed and valuable feedback on roadmap improvements required to scale usage
- Launch active partnership conversations with partner communities and DAOs to generate buzz and excitement for using the tool
Additional tactics/communication channels that support the longer term objectives will also be considered.
Through initial discussion, PT has determined three potential audiences to target and use the multi-delegator tool:
- Web3 Native Communities/DAOs- These are groups of web3 native people, all of whom have existing wallets and also have their own sources of capital/funds. According to this moderately dated article from Forbes, there are over 4,000 DAOS managing treasuries of over $8 billion. These DAOs all have different objectives, some try to buy real world assets, some try to build community, some actively participate in DeFi and are trying to disrupt finance, some are in gaming, some in music, some in entertainment, the categories that these DAOs touch are vast and impressive. However, all of these DAOs have something in common: they are searching for growth. That can be growth in engagement, growth in community size or growth in NFT/Token price. The multi-delegator tool provides all of these DAOs a tool to do this at no cost. That is because these DAOs can deposit into PoolTogether and then delegate their ptUSDC for a set period of time as a reward for any action they deem has value.
Crypto-native, PT curious- These are individuals who are crypto-native, meaning they have an active cyrpto wallet and own some crypto currencies, but have no idea PoolTogether exists. When they do spend the time to understand PoolTogether’s unique value proposition, they will be likely to become depositors for at least some of their portfolio (Note, a better understanding of these individuals are being worked on by the Marketing Working Group, but will not be ready in time for the launch of this campaign). The multi-delegator feature is perfect of this group as it allows them to experience the thrill of PoolTogether without depositing any of their own dollars, increasing interest in the protocol and increasing their likelihood to become future depositors.
Crypto-curious- These are individuals who would be considered the very beginning of the ‘early majority’ on the scale of technology adoption:
They are people who have been watching the growth of crypto/defi but haven’t taken the time to learn how to use it. They are people who need a nudge to move into the crypto-world and the multi-delegator tool is the perfect opportunity to provide that nudge. By telling them that they can get free delegations if they simply set up a wallet, PT can be these people’s onramp into crypto.
Charity Organizations- Charities are a perfect group to target for the multi-delegator tool. However, it is mostly believed that tackling the charity challenge should fall outside the scope of this brief.
THE KEY PERFORMANCE INDICATORS (KPIs)
In the next three months:
- $20 million increase in TVL
- Twitter mentions increase 20%
- Website traffic increase of 50%
Consumer: DAOs/Communities are looking for opportunities to provide utility to their members/consumers
Category: Crypto-native individuals have a large and growing list of projects where they can invest their time, they are looking for places that offer them innovative ways to generate return for their time and capital
Culture: Embracing the new in the service of growth and disruption
DAO: PT is investing in growth and subsidizing prize distributions = greater opportunity for early participants
SINGLE MOST IMPORTANT COMMUNICATION POINT
Increase interest in your project by rewarding current or future community members with zero loss and zero downside risk
REASONS TO BELIEVE
- Long history of prizes and returns
- ‘Doxxed’ and active founders
- Fully audited protocol
- Delegate to an unlimited number of addresses
- Easy to integrate and use
This campaign must at a minimum involve the individual outreach and active conversations with 50 DAOs. Beyond that, each subgroup within the MWG should consider tactics that will make the outreach easier and more fruitful. Some ideas:
A sales team/process to build a list of top priority tactics and lead/facilitate outreach from across the PT community
Media conversations/discussions about the multi-delegator tool
Social media content promoting the multi-delegator tool and stimulating conversation
A microsite explaining the benefits of the multi-delegator tool and FAQ
A video outlining the benefits of the multi-delegator tool
Additional content highlighting the successful usage of the multi-delegator tool
Content/communications that drive/encourage the 250 wallets that have received delegations to convert into active depositors
Meda/Social media campaigns that can drive awareness and comprehension of PT and the multi-delegator tool to targeted DAOs/Communities
Influencer campaigns that reach leaders of targeted DAOs that we are hoping to outreach to
Any other tactics and ideas that support the larger objectives.
We would like this campaign to be in market by NFT NYC
OTHER CONSIDERATIONS or WATCH-OUTS
Delegating to many addresses at the same can become time consuming. If a project wanted to delegate to 1,000 addresses all at the same time that is possible but it would require a fair amount of manual work (~1 hour). It’s possible someone could build a function on top of the delegator to automatically delegate to people but that does not currently exist.
In the long run, we expect this campaign to pay for itself, meaning that yield from the TVL generated from this campaign should cover all campaign expenses. However, PT is aware that this is an investment in the future, so there is some flexibility on budget.
We are thinking in the vicinity of $20,000-$40,000 to launch this campaign is sufficient. This will not include delegations which can be used separately.
Delegatons- Treasury working group has between $1.5million and $2 million in USDC sponsorship which can be used as an incentive to attract DAOs. The opportunity to use and reallocate this sponsorship toolkit is on a case by case basis, however, treasury would like to ensure that if used, the delegations are on a $.50 per $1 locked or less ratio. Meaning that if a DAO were to invest $50,000, treasury would allow for an additional $25,000 to be delegated to the DAO’s members for a set period of time.
Pool Token- Depending on the opportunity, we may be able to access an additional amount of PoolToken to incentivize participation
PT Twitter/Grants Twitter
PT medium/Grants Medium
Telegram announcement feed
Tjarks Telegram Gifs
Probably Oops’s graphics for Grants medium images and the POAPs (they’re all layered svg’s so you can extract pieces of each)
Not sure if this could be from use, but proof of concept from previous campaigns:
Valentine’s Day NFTs:
Maven11Capital Delegation (Christmas Cards)
Orange Wallet Delegation (they’ve said Lottery :REKT:)
No Loss Donations (Delegation underlying):