OKX Case Study

$19.83

Verified Accounts

3,102

Cost Per Account

72%

KYC Completion

6.9x

Return on Ad Spend

Company

OKX — Scaling Verified Traders v2 (TEST)

Campaign Type

User Acquisition

Industry

Crypto Exchange

Case Timeline

45 days

Strategy

Blockchain-Ads leveraged behavioral and on-chain audience modeling to target high-value traders across Southeast Asia. Custom audiences built from 2.3 million wallet interactions in Binance Smart Chain and Ethereum ecosystems, combined with predictive delivery optimization, delivered verified traders with 72% KYC completion rates.

Campaign Overview

OKX, one of the world's leading digital asset exchanges, aimed to acquire verified, high-value traders in Southeast Asia — specifically focusing on users likely to complete KYC, deposit funds, and execute trades within the first 30 days.

Strategy

The campaign employed strategic audience targeting across behavioral and on-chain segments:

Behavioral and On-Chain Audience Modeling: Custom audience built from over 2.3 million wallet interactions in Binance Smart Chain and Ethereum ecosystems, prioritizing users interacting with CEX bridges, trading protocols, and stablecoin transfers over $100.
Cross-Channel Campaign Structure: 60% budget allocated to display on 450+ crypto and finance sites, 25% to native placements, and 15% to in-app crypto wallet advertising.
Creative and Optimization Flow: Multi-variant creatives tested with localized banners and animated GIFs, auto-rotated based on CTR and post-click conversions using predictive delivery engine.
Measurement and Verification: Server-side tracking integrated via OKX conversion API with FraudScore and Botman validation maintaining bot rate below 0.8%.

Results

Total Conversions: 3,102 verified accounts across targeted Southeast Asian markets during 45-day campaign period
Conversion Rate: 72% sign-up to KYC completion rate, exceeding 55% target by 17 percentage points
Cost Per Verified Account: $19.83 per new user, 21% below $25 target cost
First-Month Deposit Volume: $1.28 million in initial deposits from newly verified traders
Return on Ad Spend: 6.9x return measured within 30-day attribution window, exceeding 4x target by 2.9x
Click-Through Rate: 0.68% across display and native placements, 51% above 0.45% benchmark
Fraud Prevention: 0.9% bot and invalid click rate, below 2% target threshold
Retention Rate: 63% of verified accounts remained active after first 30 days

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Inactive-State

Active State

Why It Worked

Behavioral Plus On-Chain Synergy: Highest-value segment from wallets holding stablecoins in $100-$1,000 range and DeFi staking users delivered 2.8x higher deposit rates than generic crypto interest audiences
Localized Creative Performance: Indonesian language banners achieved 42% higher CTR than English versions
Predictive Pacing Efficiency: AI-driven budget pacing reduced CPC by 27% during week 3 while maintaining conversion volume
Publisher Diversification: No single domain exceeded 8% of total spend, mitigating fraud risk and traffic concentration

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Conclusion

OKX's user acquisition campaign demonstrates the power of combining behavioral targeting with on-chain data analysis for crypto exchange growth. By focusing on verified, high-value traders through wallet-based audience modeling and localized creative optimization, OKX exceeded all key performance targets while maintaining fraud rates below 1%. The 6.9x ROAS and 72% KYC completion rate validate the effectiveness of precision targeting in competitive Southeast Asian markets.