PGP-29 l Marketing & Growth Strategy Phase I

Summary: This proposal aims to launch phase I of the marketing & growth strategy of Parallel, in line with the upcoming Parallel V3 release.

Rationale: In line with the introduction of Parallel V3 & USDp, the Parallel V3 USD stablecoin, we propose to launch an experimental marketing & growth campaign.

One of the main objectives of Parallel V3 is to raise awareness of the protocol and brand among the general public. Several options are available to us:

• Key Opinion Leader: Followers are often purchased, there is no clear visibility on their impact and data relating to posts, and their use leads to protocols being categorized as scams (see Movement, etc.).
• Ads: Ads provide much greater visibility on their impact, user origin, etc. Several platforms offer ads, but not all are equal: ads on X related to crypto are 99% scams, making it a bad platform for us; Google Ads does not allow us to target DeFi users; physical ads, particularly in airports during conferences, can be a good option but face regulatory issues, are extremely expensive, and do not provide data on their visibility; that leaves Spindl, which is a kind of web3 version of Google Ads, allowing ads to be based on the interactions of an address (tokens held, past swaps, etc.).
• Liquidity Growth: In order to grow TVL quickly and offer relevant advertising, it is essential to allocate a budget to increase liquidity, both in liquidity pools and lending pools.
• Merchandising: In order to bring the community and partners together, producing merchandising is a relevant and relatively low-cost solution.

I. Advertisements Spindl is to Web3 what Google Ads is to Web2, an ads, attribution, and measurement platform. You can learn more about Spindl here.

A. Ads Spindl acts as an advertising platform, connecting advertisers and publishers. There are currently several publishers actively integrating Spindl: Jumper, Coinbase Wallet, Crypto App, etc. Publishers receive between 70% and 80% of advertisers' advertising spend, with the remaining going to Spindl as a platform fee. Advertisers can choose the platform on which they want to publish their ads. There is no cost for the visibility of the ad; it is only when it is clicked on. Currently, the cost per click is set at $2, which is quite high compared to more traditional ads. This is because Spindl is currently the only platform of its kind on the market. Current and past publishers include protocols like Morpho, Gnosis Pay, Base, Optimism, etc. It is also worth noting that Spindl was recently acquired by Coinbase, demonstrating the quality of the platform.

Note: Each publisher must approve the ads before it is displayed on their respective platform.

B. Attribution

Attribution in Web3 is tricky: you need to know exactly where a wallet-owner came from, track them across chains and dApps, and decide what “active” even means (we use ≥ 1 transaction in 7 days). UTM tags alone can’t do that, and simply spotting a wallet in multiple smart contracts doesn’t tell you which touchpoint deserves the credit.

Spindl solves this by fusing off-chain and on-chain signals into a single identity graph. Our system continuously refreshes that graph, letting you follow users through any Web2→Web3 funnel—no guesswork, no exposed complexity, and attribution you can trust.

This diagram describes one such situation:

C. Measurement Spindl allows advertisers to measure both where their users are coming from (attribution) and who you are targeting (audience) via fully customizable dashboards.

Audiences, segments, cohorts, buckets: groups of users defined by advertisers' own events (or outside third-party events) are a critical tool for both measurement and (hopefully) targeting.

Here's a very typical overview of a protocol's entire active users, with basic stats like size, active wallets (defined as MTWs), transactions, median balance, etc.

D. Advertisements Budget We propose to launch a campaign for an initial period of 6 months, which will be managed by Cooper Labs and Mimo Labs with a daily budget of $300, or $9,000 per month, or $54,000 for 6 months. The entire budget will be allocated to campaign payments. Cooper Labs and Mimo Labs will set up advertising campaigns in line with partnerships and integrations in order to maximize the reach of the campaigns. Payment will be divided into two installments, with a payment of $27,000 every 3 months. A report detailing how the budget has been spent will be published at the end of the six months. Sharing the costs of the campaigns with Parallel's partners and integrators is also under discussion, as this would increase the duration and/or reach of the campaigns by sharing the cost between the two projects.

Some examples of audiences we can target with ads for USDp and Parallel:

• All Sonic users who have held USDC on Sonic for more than 30 days -> ads for sUSDp
• All Morpho users on HyperEVM who have deposited in a USDC vault -> ads for the Morpho vault USDp

Using Spindl will also give us a better understanding of who Parallel users are, how they use the protocol, where they come from, and what else they do. This will enable us to guide our medium and long-term business development strategy.

II. Liquidity Growth In order to support these advertisements and offer attractive deals while increasing TVL and closing deals, we propose implementing a liquidity growth program. This program will focus primarily on three things: USDp liquidity in DEXs, sUSDp as collateral in lending protocols, and USDp as a lending asset in lending protocols.

The program would be run by Cooper Labs and Mimo Labs, with discretionary funds used as long as they fall within the previously mentioned framework, in order to facilitate business development and deals. A report detailing spending will be posted at the end of the program.

We propose a budget of $5,000 per week for an initial period of 6 months, for a total budget of $130,000 for 6 months. Payment will be divided into two installments, with a payment of $65,000 every 3 months.

In order to maximize the efficiency of these funds, Cooper Labs and Mimo Labs will work with partners to ensure that every dollar spent is matched by $1 in incentives from the partner, in order to get at least double the rewards compared to the amount spent by Parallel. This means that Parallel would spend $130,000 for a theoretical total of at least $260,000 in rewards.

Although costly for the protocol, we are confident that this program would greatly help it grow over the coming months. We are already seeing significant demand for co-incentivization programs.

III. Merchandising In order to establish ourselves with our partners and the community, we propose to launch a small merchandising series divided into two parts: T-shirts and sports towels. The team would wear the T-shirts during conferences and distributed to certain partners, as well as the biggest PRL and sPRL holders. The sports towels would mainly be distributed during One of Us events at conferences and to the biggest and most active PRL and sPRL holders. Production and distribution will be managed by Mimo Labs, with production in the United Arab Emirates.

The unit cost of each T-shirt is 65 AED, or $17.70. We propose to produce an initial quantity of 100 T-shirts for a total cost of 6,500 AED, or $1,770. The unit cost of each towel is 14 AED, or $3.81. We propose to produce an initial quantity of 100 t-shirts for a total cost of 1,400 AED, or $381. The total cost of the merchandise would be $2,151. The cost represents only the production of the T-shirts and towels; the design and shipping will be covered by Mimo Labs.

Mimo Labs will publish the total invoice at the end of the merch production in response to the proposal on the forum, in order to confirm the use of funds.

This proposal only represents Phase I of the marketing & growth strategy. We are currently evaluating additional ways like a referral program, ambassador program & private LP deals.

Means:

• Human Resources: Multisigners will need to sign and execute transactions to execute the proposal.
• Treasury Resources: $54,000 for a 6 months period of advertisements (divided in 2 payments of $27,000), $130,000 for a 6 months period of liquidity growth incentives (divided in 2 payments of $65,000), $2,151 for a series of shirt & gym towels. The total cost would be $181,151.

Technical implementation: The DAO Multisig Treasury will:

• On Ethereum:
  • Transfer $27,000 USDp/USDC from the Ethereum DAO Multisig to 0x876C4D1Bd31af0d99191fC896F15a3A97D71aaB3 (Cooper Labs) just after the approval of the proposal
  • Transfer $27,000 USDp/USDC from the Ethereum DAO Multisig to 0x876C4D1Bd31af0d99191fC896F15a3A97D71aaB3 (Cooper Labs) 3 months after the approval of the proposal
  • Transfer $65,000 USDp/USDC from the Ethereum DAO Multisig to 0xd3Be6a96c4039971Bced2e92b72FAabb226a0412 (Cooper x Mimo l Liquidity Incentives Multisig) just after the approval of the proposal
  • Transfer $65,000 USDp/USDC from the Ethereum DAO Multisig to 0xd3Be6a96c4039971Bced2e92b72FAabb226a0412 (Cooper x Mimo l Liquidity Incentives Multisig) 3 months after the approval of the proposal
  • Transfer $2,151 USDp/USDC from the Ethereum DAO Multisig to 0xA804F6b4b6d0d9644811b45fe7eA389928786430 (Mimo Labs) just after the approval of the proposal

Voting options:

• For the Marketing & Growth Strategy Phase I
• Against / Rework the Proposal
• Abstain

Author(s): Jean Brasse from Mimo Labs, Spindl, Cooper Labs