Offering best-in-class on-chain trading experience has been MUX’s top priority. After the launch in August 2022, MUX’s resources have been prioritized on development; the dev contributors shipped the leveraged trading aggregator, new network deployments, leaderboard, referral system and dozens of UX improvements to benefit traders. However, the protocol exposure has been low due to the lack of marketing resources. The protocol designed to supercharge traders couldn’t reach its targeted users, which was discouraging.
Moving in 2023, MUX launched several marketing campaigns, including airdrop, onboarding quest, media exposure amplification, co-marketing activities and more. Fortunately, the campaigns were effective; we have seen organic trading volume stay above $10M daily and have over 200 daily active users.
To consolidate and further increase the protocol exposure, MUX contributors hope to run constant campaigns and want to propose allocating the marketing budget from the POL to fund marketing activities.
The POL is valued at $7.96M as of Feb 15th, 2023, which has increased over 20% since launch. In addition, 30% of protocol income will continuously be added to the POL. As a reference, between Jan 14th and Feb 14th, 2023, over $140,000 went into POL.
The MUX dev contributors propose to allocate $400,000 annually from the POL to fund marketing activities, aiming to increase the influence and let MUX reach more traders.
As the exposure constantly increases, the trading volume and protocol income are projected to grow along the way.
The $400,000 annual marketing budget will be utilized in, and not limited to, the following categories:
- Onboarding campaigns like airdrop and interaction quest
- Marketing and educational content creation
- Partnership building
- Wages for marketing contributors
- Influencer incentives
- Additional marketing efforts
- Community discussion surrounding this proposal
- veMUX holders vote to approve/disapprove the proposal