[GrantsDAO] Community survey proposal for Developing the mStable TVL growth strategy

Motivation

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.

Last few months, we observed that mStable TVL and market cap have not grown significantly. Protofire.io and Atomica.org teams 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.

Proposed solution

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:

  1. What reasons prevent the mStable TVL growth?
  2. How to attract more HNWI and institutional into the mStable ecosystem?
  3. How do we increase the deposit percent allocation to the mStable ecosystem made by large individual and institutional investors?
  4. How to make mStable more appealing for the DAO treasures?
  5. How Deposit Protection 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.

Proposed timelines deliverables and budget

  1. Developing survey (done, to be reviewed by mStable 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 MTA tokens.
    3.1. Participants who completed the survey, and previously deposited in the MTA protocol until the cut off date will receive - $50 ~ 77x MTA.
    3.2 One-on-one interview attendees. Large individual, institutional depositors and protocol DAO Treasury team will be invited to one-on-one interviews and will receive - $250 ~ 385x MTA.
  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 $250 ~385x MTA tokens as a reward.
  7. Report analysis and recommendations preparation.

For the budget of $5K we calculate to be able to reward 50 survey respondents and 10 interviews. In case mStable Treasury is willing to get a more accurate result, we suggest an investment of $8K in rewards.

Optional next steps

  1. mStable De-Peg protection and mBTC De-Peg protection. Based on our research, none of the top five insurance protocols are providing the mStable and mBTC De-Peg protection. In the near future, our integration team will be able to deploy mStable De-Peg protection, mBTC De-Peg protection and any other meta assets De-Peg protection like staked ETH (mstkETH), staked DOT (mstkDOT). In case of a Shortfall Event, mStale users will be able to use the Automatic Parametric claims, without waiting for a review by the claim committee.
  2. Deposit Protection dApp embedding. Deposit Protection options can be embedded directly in the mStable dApp UI. After the Deposit Protection module integration, mStable users will be able to buy Deposit Protection directly in the mStable dApp. mStable can earn additional referral fees and part of paid insurance premiums. Moreover mStable DAO can manage their own risk markets and set up their own fees.

Finally, mStable users will be able to see the Protected Yield/APY. We believe that Protected Yield can be more appealing for long-term liquidity providers, especially DeFi protocols DAO Treasuries. It also can help to differentiate protocols against the competitors.

Proposed timeline

  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).

Grant budget

Total requested grant amount $7k in MTA tokens.
$5K will be distributed directly to participants in the form of “Coffee rewards” and one-on-one interview rewards.
$2K to be split between the team (three members) behind this proposal who will do the work.

Milestones

  1. $5K to $8K (mStable to define) in MTA then the survey goes out. Investors who previously made mStable deposits will be eligible to claim the “Coffee rewards” after completing the survey or one-on-one interviews. Email addresses will not be necessary. Users will be verified by the 0x Ethereum address signature.
  2. $2K in MTA or USDC upon submission of delivery report.

Results and Benefits

As a result, mStable core-dev, product, and marketing teams will receive the clear signal on how to attract more investors with long-term TVL, and increase appealing for DAO treasuries.

We would be happy to hear any feedback from you.

Luís Veríssimo Medeiros - Field CTO @ Protofire.io
Email: luis.medeiros@protofire.io
Jaroslav Alekseev - business analyst @Atomica.org integration team
Email: jaroslav.alekseev@altoros.com

2 Likes

Hey @Jaroslav_Atomica_org
I remember you chiming in Discord a few weeks ago, glad to see this proposal coming to life.
As we’re heading towards V2, I think it’s an interesting idea to survey our existing users. That’s something we did already a couple of months ago. Were we to fund this proposal, I could communicate to you the raw data of + analysis of the previous survey.

In my opinion, this project could be funded through the Grants DAO as a) it would reward key community members by taking the time b) It would help the user-side of the V2 work we’re doing at the moment. I could spend some time with you orienting the questions on the V1-V2 key topics
Feel free to “officially” apply for a grant here mStable Grants Application

A few questions:

  1. Who’s owning the process of distributing the MTA to survey participants?
  2. In the final delivery report, would there be an action plan?

Generally, I think that’s a great idea. I really appreciate the care taken in writing this. :handshake:

@TClochard thank you for your prompt reply and feedback.
Can we have a look at the previous survey data? If it’s not secret of course.

Our team is working hard on the TVL growth framework. We would love to see any data or feedback on how to unlock the next wave of the TVL growth.

as @TClochard said, this is something more related to a grantsDAO, so changed the Title and moved it to a different Category.

Hey @Jaroslav_Atomica_org
Have you submitted a grant proposal already?