Alpha Exchange

Alpha Exchange needed to reach high-intent crypto traders and convert them onto a new platform in a market crowded with established centralised exchanges. Four obstacles defined the scope of the problem:

• Platform awareness gap: Alpha Exchange was a new entrant with no existing paid acquisition history and low organic brand recognition.
• Audience precision: Standard display networks could not differentiate between casual crypto interest and active on-chain trading behaviour.
• Retargeting capability: Building a warm audience from cold traffic required infrastructure that broad programmatic networks did not offer for Web3 products.
• Competitive positioning: Communicating a no-KYC, high-leverage DEX proposition required an environment where the audience already understood what those terms meant.

Alpha Exchange's offer was technically differentiated but meaningless to a general finance audience. Standard programmatic networks reached broad interest-based segments that lacked the on-chain context to evaluate a no-KYC DEX with 200x leverage. The platform needed to reach users already active in DeFi and familiar with decentralised trading infrastructure, with the ability to retarget users exposed to the brand but not yet traded. Blockchain-Ads provided both through four capabilities:

• On-chain audience segments: Campaigns reached Frequent Traders, DeFi Traders, Crypto Traders, Crypto Whales, and DeFi Whales, all identified through verified wallet activity.
• Retargeting capability: A dedicated retargeting audience was built from users who had engaged with Alpha Exchange display ads during the prospecting phase.
• Crypto-native inventory: Ads ran in publisher environments where leverage trading and DeFi terminology were already part of the reader's daily context.
• Low-cost entry point: The platform allowed Alpha Exchange to test multiple creative angles across distinct audience segments at a controlled spend level.

• New traders acquired: 171 across a 30 days campaign window.
• Impressions: 3M+ delivered across Eastern Europe, Southeast Asia, and Latin America.
• CTR: 0.88% blended across all display placements.
• CPC: $0.39 across the full campaign.

The campaign launched across five on-chain audience segments: Frequent Traders, DeFi Traders, Crypto Traders, Crypto Whales, and DeFi Whales. Display ads ran across all segments simultaneously to generate reach and build an initial audience pool for retargeting. Three creative angles entered the market at launch: a leverage-led angle promoting 200x leverage with no KYC, a friction-free angle leading with no VPN, no login, no hassle, and a platform identity angle positioning Alpha Exchange as the exchange built for serious traders.

Broad segment data identified Frequent Traders as the highest-reach segment and DeFi Traders as the most responsive to the no-KYC messaging. The leverage and friction-free angles continued running across active segments. The identity-led angle was introduced more prominently at this stage, using aspirational framing around becoming an alpha trader and earning income from trading. This angle targeted users who had already seen the product-feature creatives but had not yet converted.

Retargeting became the primary conversion driver in the final phase. The retargeting audience delivered 107 of 171 total new traders, at a spend of $3,298 and a segment CPA of $31. DeFi Traders contributed a further 6 conversions at $734 spend. The friction-free and leverage angles were the active creatives during this phase, reinforcing the no-KYC positioning to warm audiences who had already shown intent. The campaign closed with 171 traders acquired across in 1 month at a blended CPA of $58.