Developing the Synthetix TVL Growth Strategy: Step 1 - understanding LP concerns by applying a Survey

Username

luis.medeiros@protofire.io

Grant Description

DeFi adoption and TVL growth is blocked by fears of losing funds. We would like to contribute to solving two DeFi fundamental problems - DeFi protocols security and token liquidity. The resolution of both problems will help to ensure the long-term sustainability of the DeFi protocols and can unlock the exponential TVL growth. Protofire team is developing a TVL Growth Solutions portfolio and frameworks for the DeFi ecosystem and protocols. We would be happy to help you to unlock the next wave of TVL growth. We understand the first step would be achieved through a Survey we propose herein.

Overview

We propose to begin solving problems related to TVL growth by developing a very precise Empathy Map and detailed user profiles for the variety of user types which individual and institutional depositors represent. The first phase of the solution is simple: We would run a survey and conduct customer interviews focused on the follow objectives:

• What reasons prevent the DeFi TVL growth?
• How to attract more HNWI and institutional into the DeFi ecosystem?
• How do we increase allocation percent of total DeFi deposits to be made by large individual and institutional investors?
• How security and insurance options can help to unlock TVL growth? We believe studying the unique needs/wants/pains/fears of the HNWI and institutional depositors can unlock the next wave of TVL growth.

Value to Synthetix

As a result, Synthetix core-dev, product, and marketing teams will receive the clear signal on how to attract HNWI and institutions, increasing TVL. Email addresses will not be necessary. Users will be verified by the 0x Ethereum address signature. Investors who previously made Synthetix deposits will be eligible for the "Coffee rewards" and one-on-one interviews.

Project Implementation Plan

1. Developing survey (done, to be reviewed by Synthetix team).
2. Survey execution. Channel selection - where the survey participant will learn about it and decide to participate. What the participants in the survey will see in the invite. Sending invites.
3. Proposed reward. “Crypto coffee gift card” in the form of SNX tokens. 3.1. Participants who completed the survey, and previously deposited in the Synthetix pools until the cut off date will receive - 10x SNX. 3.2 One-on-one interview attendees. Large individual or institutional depositors will be invited to one-on-one interviews and will receive - 50x SNX.
4. Support survey participants with their questions and requests in the Telegram or Discord chat.
5. Creating detailed user profiles and Empathy Map.
6. Conduct 10+ one-on-one interviews with large institutional investors. After the interview, investors will be eligible to claim 50x SNX tokens as a reward.
7. Report analysis and recommendations preparation.

Additional Information

Project will be carried out in 6 weeks:

1. If the proposal is approved we can begin the survey execution in 72 hours.
2. Invites sent (one week).
3. Active survey phase (two weeks).
4. Creating detailed user profiles and Empathy Map (one week).
5. Conduct 10+ one-on-one interviews (3 weeks in parallel with Active survey phase).
6. Incorporate results of user interviews into detailed user profiles and Empathy Map (one week).
7. Delivery report with analysis and recommendations to the core team (1 week).

Funding Request

Total requested grant amount $10,3k in SNX tokens or USDC:

• $5,3K will be distributed directly to participants in the form of "Coffee rewards" and one-on-one interview rewards.
• $5K to be split between the team (three members) behind this proposal who will do the work.