Blockchain

How a Liquidity Protocol Marketer Mines Web3’s ‘Most Sacred Data’

When marketer Yakov Sychev joined cross-chain liquidity protocol Eywa a month earlier than its launch in November 2023, he was shocked to find that there “have been no actually good instruments” to measure how customers interacted with blockchain contracts. By means of Eywa’s cross-chain index, CrossCurve, customers swap tokens throughout completely different chains — a layer Sychev, now Eywa’s Chief Advertising Officer, says “was getting uncared for earlier than I noticed Cookie3.”

This interview is a part of CoinDesk’s Web3 Advertising Week.

A MarketingFi firm, Cookie3 “is principally Google Analytics for Web3,” Sychev says, the place Eywa’s customers worth anonymity and decentralization above all. To draw and retain these clients whereas giving them the facility and privateness Web3 has to supply, Sychev wanted to determine the consumer journey with out counting on Web2 analytics. How have been customers attending to Eywa’s merchandise? What companions might Eywa work with to entice new ones?

Cookie3 might reply these questions with out revealing any info that’s not already on the blockchain. “They’re giving me the format and instruments to learn this knowledge in a method that doesn’t require a developer,” Sychev says. “As a marketer, I do not need to be writing code.” Cookie3 interprets the blockchain into advertising and marketing communicate for him. What work have been you doing earlier than turning into CMO at Eywa?

I used to be engaged on a crypto accounting app that was in between Web2 and Web3. We used plenty of Web2 instruments and did not want Web3 analytics. Earlier than that, I used to be principally engaged on Web2 tasks, together with automation for academic webinars. We would have liked to attach incoming site visitors to its sources, like a Telegram username to that consumer’s actions in a webinar room.

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We constructed funnels that confirmed customers’ journeys and automatic them. We might see what number of have been on completely different phases of the funnel and what number of minutes the consumer was on the webinar. You may see, for instance, if a buyer went via a bot to a webinar, or from a Fb advert.

How do these funnels look completely different in Web3?

I began to grasp how completely different they’re with the Eywa undertaking. With Web3, you’ve got one other layer of information within the blockchain. Customers do not simply work together together with your web sites or methods in-house. They work together together with your blockchain contracts by shopping for, promoting, or swapping tokens.

Earlier than Cookie3, I couldn’t measure the standard of the viewers or the metrics on blockchain. I might see how folks went to my web site via Web2 analytics instruments, however I couldn’t see what folks have been doing on-chain, which is probably the most sacred knowledge in Web3 tasks. On-chain knowledge may be very priceless to buyers. It exhibits how a lot you are rising.

After all, you’ve got particular instruments for blockchain analytics. However the issue was I’d see 1000-plus wallets, however I didn’t know what channels introduced them to us. I did not know the standard of those wallets — what number of tokens they’re holding or what number of transactions they’ve made. You couldn’t see how off-chain actions transitioned customers on-chain. As a marketer, you want to perceive that.

How is Cookie3 offering that info?

I can provide you an instance. We have been taking part in a Cookie3 ecosystem marketing campaign, a drop with a pair tasks. Their web site had a hyperlink to our web site, which I offered and had primary parameters like these in Google Analytics. We have been utilizing Cookie3 earlier than we built-in on this marketing campaign, so when customers obtained to our web page with this hyperlink, I might see what number of wallets have been linked via it. The secret is I can see what number of wallets this supply — the Cookie3 ecosystem marketing campaign — brings me.

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That simply scratches the floor. I can go deeper. Cookie3 has an on-chain explorer, the place I can see the overview of the wallets that interacted with our good contracts. I can see the transaction rely. Then I can go deeper and examine the standard of these wallets. Is it higher than what I see from different companions? Worse? This has helped me establish and examine completely different channels, bloggers, KOLs, influencers — all of the sources I am utilizing to herald site visitors. It additionally provides a brand new layer — ID, the pockets.

By means of that drop, Eywa customers might get free Cookie3 token airdrop factors for his or her engagement with Eywa’s merchandise. How did customers earn factors?

It’s simple to trace the pockets addresses that interacted with our contract, so we shared these addresses with Cookie3. They let these wallets declare airdrop factors for previous interactions. Every consumer who made even one transaction cross-chain might get factors.

For current interactions, we have now our good contracts configured in Cookie3. Working with Cookie3, I do not want a developer. I’ve some knowledge from the developer aspect, like which contract to make use of, after which I can configure all the pieces myself via Cookie3, which I did a pair months in the past. Now, Cookie3 is monitoring all of the interactions with our good contracts.

What number of airdrop factors have Eywa customers collected to this point?

I don’t have that knowledge. However I checked my very own handle, and I might declare 2,500 factors for interacting with Eywa contracts. Customers will get the points-to-tokens conversion fee later.

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What have been probably the most priceless insights you’ve got realized with Cookie3?

We’re buying an viewers that’s focused on our product class. They’re not coming from NFTs or GameFi, however exchanges or DeFi protocols — our opponents — as a supply. A lot of customers come from completely different Dapps, so I do know the precise Dapps they use. That helps me know who to method for partnerships.

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