FFP-3 Shifting Marketing Focus

Feeders, 👋

We have a new proposal to put to a discussion and a vote. It will not be the same vote you have expected and it may come as a surprise to you but there is a good reason behind this.

The Vote

Stakers will vote to use the funds put aside to either

• VOTE: YES support the pre-launch marketing efforts
• VOTE: NO have it returned as staking APY.

Timing

• Snapshot for sFEED holders on Monday, May 24, 2021, Block Number 7680000 (https://bscscan.com/block/countdown/7680000)
• Voting Tuesday, May 25, 2021, 6 AM GMT+1 – Wednesday, May 26, 2021, 6 AM GMT+1

Background

• During the time of the decision to support the vault with the funds required, we needed ~250,000 FEED to support the booster
• At the same time, we were ~1 month away from pre-launch marketing and this would have been a good way to get the message out with minimal materials
• Our token price was strong and was able to withstand farming rewards harvest
• All these conditions support the rationale for a vault partnership and we went ahead to ask you guys to support it too. The situation today has shifted dramatically in the other direction:
  • We’d need +600,000 FEED (~1% of total Farming Distribution) to fund the booster
  • We’re less than a week away from website completion, first teaser completion in a week, and we’d be ready to reach out to KOLs in no more than 1.5 weeks from now; we have the materials we needed
  • Our token price is depressed by market conditions and current farming reward sales are depressing the price more than net demand buying can support it

Therefore, as a team, we have decided not to go ahead with the vault partnership. We understand this decision may come as a surprise, especially because as you all know, we were a staunch advocate of this partnership in the first place. It was not a decision we took lightly; and do expect to disappoint some of you. However, we feel strongly that it is for the best of the community and the project.

Having said that we realize the funds we’ve asked from stakers were communicated to be for the vault partnership, among other marketing uses, but the main use of funds was for the vault.  We cannot simply shift its uses without asking your permission and therefore would ask you to vote again on allowing us to proceed with those funds.

The marketing strategy itself involves the following:

• Contacting KOLs:
  • Target Audience:  Existing DeFi investors
  • Message:  Explaining the uses of the product, why, who, how
    • Vision/Mission of the project:  “The Gateway to DeFi” / “Investors Empowered through Pooled Capital” / “Educational and Knowledge Community for All” / “Honestly, Sustainability, and Professionalism as a community and team”
• Platform Teaser VDO
  • Target Audience: Completely New to DeFi
  • Messaging: We aim to relate our product strength and principles to real-world examples that allow new DeFi investors who may also be new to investing to understand why it is in their interest to use Feeder Finance.  Simplified to the core.
• Product Teaser VDO
  • Target Audience: Both DeFi and New DeFi Investors
  • Messaging: Visually walk through each of the nodes in the diagram with a verbal overlay of the investor capital flow, how, where, and why.  Making sure they both want to invest with us and see our potential as the first place (“gateway”) any investor world start their DeFi experience.  A place where capital can rest during turbulent times.

All of the above will be released, our hope, before the product launch. However, a balance between quality and speed is also important. That is the goal, but we’d rather not sacrifice too much quality for speed so the timing may be allowed to be delayed on the media creation front.

We encourage further discussion by the community with regards to our marketing plans; but would like to ask for your understanding in regards to our pivot on the vault partnership. Please be gentle with us.

Final note

With regards to the withdrawal fee which is an issue on its own.  We do encourage discussion around that to whether we should remove it regardless of the vault partnership.  The argument for it is that it may attract more farmers, and is fairer as an economic balance between stakers and farmers.