I am Marc, the founder, and CEO of a marketing agency in Germany. Our main business is running our own e-commerce stores but since 2018 we shifted our focus more and more into crypto and we’ve been pretty successful in running our own projects, as well as investing. So we’ve seen quite a few different projects, their flaws, and their chances and how they played out.
I’ll try to highlight a few thoughts
The First Mover Advantage
Currently, there is no leader in the synthetics space but quite a lot of new projects aiming to be the leader.
Once a leader position has been taken, it’s quite hard to shake it off due to the first-mover advantages they have.
See Ethereum, followed by Solana with only 1/10 of the market cap.
Chainlink, followed by UMA with 1/10 of the market cap
You get the picture.
I think the race in the Synthetics projects for the leader position is not very manifested as of now:
We should aim to overtake Synthetix as soon as possible by running influencer campaigns on youtube, Twitter and preparing press releases about Mirror.
These press releases should first aim to get general awareness (how mirror is better in terms of fees, accessibility etc), later on, we should wait for specific events and be prepared e.g. Stock market trading pauses, Stock market manipulation events, etc. and how Mirror would’ve done better. These can be prepared and released once the events happen.
The Terra Ecosystem
The Terra ecosystem with LUNA and USD Terra is currently making headlines.
There are endless opportunities to jump on the bandwagon and get some traction through that.
Get at least 30-50 YouTubers talking about Mirror in connection with LUNA. All these YouTubers should release their videos within one week to gain viral attention. Mirror has to be known to every single, let’s call it “Youtube Investor” out there.
Shortly after, we will launch a massive Twitter campaign targeting crypto investors. 1Inch recently started one and they gained 100k followers within 2 weeks.
I believe we should get this done whilst Luna, and the Terra Ecosystem perform well to build a relation between the two.
Initial planning: 3800 MIR
Once the initial planning poll has been approved, we will start budgeting all the marketing activities in detail and update this post. We estimate that we’d need around 55.000MIR (around 140k USD) for a 2-month awareness campaign including the press releases and distribution of those.
Each spend category (youtube, twitter, press…) will get an extra poll so we don’t ask for the full amount upfront and the community gets to see the impact of the previous spend, before approving a new one.
We have to take the leadership position in the synthetics space as soon as possible whilst it’s still relatively easy to do so. The longer we wait, the harder it gets.