Simple Summary
The 1inch Network has been an active participant in the crypto community, having participated in multiple events during 2023: sponsored 14 conferences and 8 hackathons in 13 countries on 4 continents, organized 11 networking events including 1inch event in Davos, co-hosted more than 50 side events and had speaking slots at 79 conferences. These events have resulted in tens of thousands of user acquisitions. This proposal is now seeking funding to cover our participation in 9 events during Q4 2023 & 2024 as sponsor and cover expenses for non-sponsorship speaking opportunities during 2024. All the events are crypto-related conferences or hackathons focused on developing new decentralized finance (DeFi) solutions and expanding the DeFi and Web3 ecosystem.
The list of events:
ETH India, December 8-10 2023, Bengaluru
1inch meetup in Davos, January 16 2024, Davos
Paris Blockchain Week, April 9-11 2024, Paris
Token2049, April 18-19 2024, Dubai
ETHCC July 8-11 2024, Brussels
Eth Global Brussels July 12-14 2024, Brussels
Тoken2049, September 18-19 2024, Singapore
ETH Global Bangkok, November 15-17 2024, Bangkok
Australian Crypto Convention, November 23-24 2024, Sydney
Non-sponsorship speaking opportunities include multiple valuable conferences, hackathons and meetups where 1inch team will participate on a non-paid basis as keynote speakers, panel discussion or workshop participants. The list of these events will be created throughout the year and will be shared at the end of the year. The estimate for non-sponsorship speaking opportunities is based on 2023 budget for similar opportunities.
Total Grant Value $1 615 096 in USDC.
This amount includes: sponsorship packages, merchandise, photo & video production and all needed operational expenses. The amount for non-sponsorship speaking opportunities includes only travel-related estimated expenses.
Abstract
The objective of this grant is to allocate funds for sponsoring events that boost the visibility of the brand, enhance the reputation, grow Network volume and increase the influence of 1inch within the global DeFi ecosystem. Through supporting relevant events, our goal is to promote the 1inch brand, build relationships with potential partners, collect feedback about 1inch products to improve customer experience and understand customer needs, foster user adoption, and attract new contributors and community members. Only events that align with the objectives and values of the 1inch Network were chosen. Key considerations included focus on blockchain and DeFi, community engagement and overall impact.
Motivation
The goal of 1inch Network is to create the most valuable community in Web3 and foster growth and expansion of the 1inch ecosystem. DeFi develops fast and 1inch is one of the leading projects in the space. Event participation helps to promote 1inch products, introduce new initiatives, maintain brand awareness , and educate and onboard new users to the space. The events listed were selected from top-tier, renowned crypto events based on their reputation, past successful 1inch participation, and strategic geographic coverage to engage with crypto audiences across Europe, the Middle East, Asia, and Oceania regions.
The list of events 1inch Nertwork has participated as a sponsor during 2023.
The Events DAO Proposal 2023 was 100% fulfilled.
The media files from each event can be seen in the 1inch events 2023 media folder.
As a sponsor, 1inch will receive prominent brand exposure at sponsored events, including logo placement on event websites, banners, marketing materials, and social media promotion. Additionally, 1inch representatives will have the opportunity to speak at selected events, participate in panel discussions, and engage with attendees at a 1inch-branded booth, further establishing 1inch as a leader in the DeFi space.
Specification
The events participation budget includes:
Sponsorship package
Booth construction
Merchandise
Operational expenses
Photo and video production services
Specification of the expenses:
Descriptions of each event and specifications of the packages.
Total Grant Value $1 615 096 in USDC.
Recipient of funds: 1inch Events Team via 1inch Labs
Receiving address for funds distribution: eth:0xda38862974B83DAF69CB18A9aEA898e3847b3b38
All funds will be sent to the Events Team after the Proposal passes, for immediate distribution to cover the sponsorship packages, book the venues for side events and initiate organizational processes.
Rationale
All listed events are meant to support the growth and development of the blockchain ecosystem and establish and strengthen the 1inch brand in the crypto space. We believe that participation in the chosen events is a critical component of achieving this goal. By providing a grant to support the organization and execution of a series of conference sponsorships we are supporting the growth of 1inch Network and development of the whole DeFi ecosystem.
By sponsoring the above listed events, 1inch Network can achieve the following objectives:
Brand awareness. Event sponsorships provide an excellent opportunity to showcase 1inch products to a highly targeted and influential audience. By participating as a sponsor, 1inch can increase its brand recognition and attract media attention, improve and find new co marketing opportunities which expands brand visibility even further.
Building Trust and Credibility. Sponsoring relevant events allows 1inch to align itself with established organizations and industry leaders. By actively participating in speaking opportunities as keynotes, panel discussions, workshops, and networking sessions, 1inch representatives can establish themselves as knowledgeable experts, further reinforcing trust among potential users and partners. Participating in high level events and hosting side events helps to communicate directly with the audience which increases the loyalty level of the community.
Grow Network Volume. Event sponsorships provide an opportunity to directly engage with potential users, partners and developers in the DeFi space. By showcasing the unique features and advantages of its products, 1inch can attract a wider user base, onboard new users into the ecosystem, encourage developers to build using 1inch products. These events serve as a platform to educate attendees about the benefits of decentralized finance and demonstrate how 1inch solutions can empower them to navigate the DeFi landscape efficiently. Besides that, communication with the community lets 1inch collect feedback about 1inch products which helps to improve customer experience, understand customer needs, and spur new ideas. Moreover, events are a great opportunity for recruiting developers.
Build Strategic Partnerships. Sponsoring top crypto events enables 1inch to connect and collaborate with other leading projects, create and maintain relationships with Professional Market Makers, Resolvers, DeFi protocols and VC’s. This presents opportunities for strategic partnerships, integrations, and cross-platform synergies that can drive mutual growth and innovation for 1inch Network.
Market Expansion. Sponsoring events in different geographic locations allows 1inch to penetrate new markets and gain exposure to diverse user bases. Each of these events represents an entry point into regional DeFi communities, enabling 1inch Network to establish a local presence, understand market dynamics, and tailor its offerings to meet specific regional demands.
Sponsoring events aligned with the goals and values of 1inch Network presents a strategic opportunity to amplify brand visibility, increase the volume and user base, foster user adoption, forge partnerships, and expand into new markets. By allocating funds towards event sponsorships, 1inch can position itself as a frontrunner in the DeFi industry, driving innovation and providing users with access to optimal decentralized exchange solutions.
Considerations
Event Management
The 1inch Events Team will take charge of managing the events. The 1inch Events Team possesses deep expertise in event management, boasting a strong record of successfully executed events around the globe. The Events Team will also be accountable for adhering to the allocated budget and coordinating all the processes, in concert with other teams for related questions.
Alignment with 1inch Network’s goals and values
The chosen events align with the objectives and values of the 1inch Network. These events focus on DeFi and blockchain technology, community engagement and overall impact. By sponsoring these events, 1inch Network can enhance its visibility, reputation, community relationship and influence in the global DeFi ecosystem.
Opportunities for brand exposure in
As a sponsor, 1inch will receive prominent brand exposure at sponsored events through logo placement on event websites, banners, marketing materials and social media promotion. Additionally, 1inch representatives will have the opportunity to speak at selected events, participate in panel discussions and engage with attendees at the branded booth - further establishing 1inch as a leader in the DeFi space. Distribution of high quality merchandise also impacts brand awareness and boosts mentions in social media.
KPI’s
The suggested metrics for event success measurement are: number of attendees of the event itself, number of 1inch Network users before and after each event, engagement and number of media mentions, count and quality of leads (potential partners and collaborations), number of side events, speaking activities during the event, number of submitted projects at the hackathons, number of relevant candidates and hires sourced from events, number of Developers Portal subscriptions, number of applications for community builders program.
Potential for user adoption and strategic partnerships
Event sponsorships provide an opportunity to directly engage with potential users, partners and developers in the DeFi space. By showcasing the unique features and advantages of its products, 1inch can attract a wider user base and onboard new users into the ecosystem. These events also serve as a platform to connect and collaborate with other leading projects and DeFi protocols, presenting opportunities for strategic partnerships, integrations, and cross-platform synergies that can drive mutual growth and innovation.
Market expansion
Expanding geography of the events 1inch gets an opportunity to enter new markets and gain exposure to diverse user bases. Each of these events represents an entry point into regional DeFi communities, enabling 1inch Network to establish a local presence.
Cost-effectiveness
The total grant value of $1 615 096 in USDC includes sponsorship packages, co-organization of side events, merchandise and all necessary operational expenses. This represents a cost-effective investment in enhancing the visibility, reputation, and influence of 1inch Network in the global DeFi ecosystem.
Overall, this proposal presents a strategic opportunity for 1inch Network to amplify its brand visibility, foster user adoption, forge partnerships and expand into new markets through event sponsorships. By allocating funds towards this initiative, 1inch positions itself as a frontrunner in the DeFi industry, driving innovation and providing users with access to optimal decentralized exchange solutions.