Acquisition project | Mudrex
đź“„

Acquisition project | Mudrex

Elevator Pitch

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Understand the user

Decoding the Minds Behind the Trades

🎯 Meet Our Crypto Personas:

CriteriaUser 1: Crypto Curious RameshUser 2: Pro Trader PriyaUser 3: Coin Radar Rahul

Age

25

35

28

Demographics

Urban India (Tier 1/2)

Urban India (Tier 1)

Urban India (Tier 1/2)

Need

Safe, easy investments

Advanced trading tools

A single platform with all coins

Pain Points

Deposit/withdrawal delays, Afraid of crypto volatility and no time to check market for 24 hours

Lack of analytics tools, Lack of signals and high leveraged future

No clarity on where to invest; unavailability of all coins, no crypto withdrawal

Solution

Coinsets with faster withdrawals and deposits

Futures with analytics and trade signals

Comprehensive coin availability and insights provided along with wallet to wallet crypto transfers

Behaviour

Infrequent trades

Daily trading

Regular research, infrequent trades

Perceived Value of Brand

Trustworthy & simple

Reliable and feature-rich

Trust in wide availability and reliability

Marketing Pitch

'Start Safe with Coinsets'

'Maximize with 100x Futures'

'All the Coins You Need, All in One Place'

Goals

Long-term wealth

Short-term profits

Finding the best coins for long-term growth

Frequency of use case

Weekly

Daily

Monthly

Avg. Spend

₹10,000/month

₹50,000/month

₹15,000/month

Accessibility

Mobile-first app

Cross-platform support

Mobile and desktop equally

Experience

Beginner-friendly

Pro tools accessible

Intermediate knowledge

⚖️ ICP Showdown: Who Do We Bet On?

Criteria

ICP 1: The Newbie Navigators

ICP 2: The Trading Titans

ICP 3: The Coin Collectors

ICP 4: The Coin Radars

Adoption Curve

High

High

Medium

Medium

Appetite to Pay

Low

High

Medium

Medium

Frequency of Use

Medium

High

High

Low

Distribution Potential

High

High

High

High

đź’ˇ Key Insights We Can't Ignore:

  • INR Deposits/Withdrawals: We're the only crypto company offering this, thanks to wallet-to-wallet transfer magic.
  • UI that Clicks: Simple KYC and an intuitive interface keep both rookies and pros engaged.
  • Product Focus: Coins and Futures are our growth engines; Coinsets are the soft entry point.
  • Brand Power: Partnerships with Economic Times, Moneycontrol, and Forbes India boost credibility.
  • Influencer Impact: Pro traders are drawn to us through the founder's reputation, Y-Combinator backing, and influencer promotions.





Understand the product

Vision: Fueling India's Crypto Revolution

Mudrex aims to make crypto investing as easy as ordering a cup of chai. Our vision is to simplify crypto for everyone—from curious beginners to seasoned pros—through intuitive tools, secure platforms, and unmatched variety.

đź’ˇ Core Value Proposition: The Mudrex Magic

  • Simplified Experience: A beginner-friendly UI that demystifies crypto.
  • Unmatched Variety: Over 650 coins and 350+ trading pairs—more than any Indian competitor.
  • Safe & Compliant: FIU-registered with insured funds, ensuring user trust.
  • Convenient Transactions: First in India to offer INR deposits, withdrawals, and wallet-to-wallet crypto transfers.

🛠️ What Does Mudrex Solve?

  • Apprehension & Complexity: Simplifies crypto investing with Coinsets and curated themes.
  • Transaction Delays: Solves withdrawal/deposit delays with seamless UPI integration.
  • Limited Choices: Provides the most diverse selection of assets in India.
  • Trust Deficit: Partners with Economic Times, Moneycontrol, and Forbes India for credibility.

Mudrex isn’t just a platform; it’s a passport to India’s crypto future.

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Understand the market

 Market Intel: Cracking the Crypto Code

🕵️ Competitor Analysis: Mudrex vs. The Crypto Giants

Factors

CoinDCX

CoinSwitch

Zebpay

Core Problem Solved

Simplified trading for retail users

Easy crypto buying with INR

Secure crypto storage & trading

Features/Services

Spot, Futures, Earn

Spot, Earn, Futures

Spot, Earn, Lending

Users

Retail & pro traders

Retail investors

Long-term investors

GTM Strategy

Influencer & performance marketing

Referral-driven growth

Brand trust campaigns

Channels Used

Social media, search ads

Social media, influencers

Blogs, partnerships

Pricing Model

Maker-Taker fees, zero-fee deposits

Fixed-fee structure

Maker-Taker fees

Funding

$109M (Series C)

$300M (Series C)

Self-funded initially, Series A

Brand Positioning

India’s largest crypto exchange

Simple crypto for Indians

Secure & reliable crypto platform

UX Evaluation

Beginner-friendly with advanced tools

Simple UI for first-time users

Functional, less intuitive UI

Right to Win

Largest user base, diverse product offering

Simple onboarding, strong brand trust

Established early mover advantage

Lessons

Focus on advanced tools

Simplified onboarding works

Long-term trust is critical

đź§® Market Sizing – The Big Picture

🏔️ TAM, SAM & SOM Calculation for Mudrex

Metric

Calculation

Value

TAM (Total Addressable Market)

$2T Ă— 10% = $200B

$200B

SAM (Serviceable Available Market)

$200B Ă— 40% = $80B

$80B

SOM (Serviceable Obtainable Market)

$80B Ă— 5% = $4B

$4B

Explanation:

  • TAM: Mudrex’s addressable market is 10% of the global crypto market.
  • SAM: Focused on the Indian retail crypto segment (40% of TAM).
  • SOM: The share Mudrex can realistically capture (5% of SAM).

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đź§  Key Insights for Market Understanding:

  • The Indian crypto market is largely retail-driven, with growing interest in Futures trading.
  • Mudrex’s INR deposit/withdrawal feature and wide coin availability provide a unique edge.
  • Competitors like CoinSwitch rely heavily on simplicity, while CoinDCX leads with product variety.
  • Zebpay’s long-standing reputation highlights the importance of trust in branding.
If your product is in early scaling stage

 Designing Acquisition Channels: The Mudrex Playbook

As Mudrex is in its early scaling stage, we’ll focus on high-impact, cost-efficient acquisition channels:


Channel NameCostFlexibilityEffortSpeedScale

Affiliate Program/ Influencer Marketing (as UGC)

Medium

High

Medium

Fast

High

SEO and Content Loops

Low

High

High

Slow

High

Programmatic Ads

High

Medium

Medium

Fast

High

Organic Growth

Low

High

High

Slow

High

Referral Program

Medium

High

Medium

Medium

High

Product Integration

Low

Medium

High

Slow

High

🔑 Insights:

  • Affiliate Program/ Influencer Marketing: Leverage affiliates-Crypto Gurus & Traders who stream who share their personalized links or promo codes, driving organic, trustworthy engagement. This can be done as User Generated Content
  • SEO and Content Loops: Develop content around crypto education, investment guides, and myth-busting. Product content loop where users can share and showcase their profitable trades with their referral codes.
  • Programmatic Ads: Use algorithmic ad placement for efficient reach across diverse audiences.
  • Organic Growth: Continue content marketing on crypto trends.
  • Paid Ads: As crypto industry is restricted having Google or Meta ads, we can't use paid ads via that. Hence Programmatic ads work best.
  • Referral Program: Reward referrals with USDT cashback to encourage word-of-mouth growth.
  • Product Integration: Collaboration with trading platforms like TradingView to embed Mudrex services natively.
Detailing Organic Research


Detailing Content loops

Crafting Content Loops: The Viral Engine of Mudrex

Content loops are our secret sauce for organic growth, turning every user into a promoter. Here’s how we’ll do it:

🎯 Content Loop 1: Profit Sharing – Social Flex

Trigger: A trader makes a profit on Mudrex.
Action: They receive a prompt to share their profit details (profit %, amount) as a social media post.
Mechanism: The image includes:

  • Profit details (e.g., "$15,000 profit this week!")
  • A QR code to download Mudrex
  • Their unique referral code Impact: Friends see real-world success, get curious, and download the app.

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🔄 Content Loop 2: Trade Battle – Bragging Rights

Trigger: Traders hit milestones like the 'Top 5 Futures Traders' for the day.
Action: Mudrex generates a shareable badge showing their rank and success. Mechanism:

  • "I ranked #3 in today's Futures Battle!"
  • QR code & referral code embedded Impact: It sparks competitiveness and community engagement.

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Detailing Paid Advertising


Paid Advertising Strategy for Mudrex

Given the restrictions on Google and Meta ads for crypto platforms, Mudrex leverages Programmatic Ads to reach its audience efficiently. Here’s our step-by-step approach:

StepActionDetails

1

Identify Target ICPs

Newbie Navigators, Trading Titans, Coin Radars.

2

Select Ad Channels

PayTM, Molocco, Moneycontrol, TradingView.

3

Craft Marketing Pitch

Beginners: "Your Crypto Journey Starts Here"; Pros: "Trade with 100x".

4

Customize Messaging

Tailor creatives for each ICP segment.

5

Design Ad Creatives

Static banners, video ads, interactive quizzes.

🎯 Ad Channel Breakdown:

Platform

Audience

Ad Format

Key Message

PayTM

Payment Users

Display Ads

"Simplify Crypto Investments with UPI Deposits!"

Molocco

Crypto Curious

Banner/Video

"650+ Coins, 1 App – Start Investing Today!"

Moneycontrol/ET

Finance Readers

Native Ads

"Join India's Trusted Crypto Platform"

TradingView

Active Traders

Interactive Ads

"Track, Trade, Succeed with Mudrex"

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📊 CAC:LTV Calculation (in USD):

Assumptions:

  • CAC (Customer Acquisition Cost) = $50 (ad spend, content creation, and tools per acquired user)
  • ARPU (Average Revenue Per User) = $25/month
  • Average User Lifespan = 24 months


Calculation:

  • LTV (Lifetime Value) = ARPU Ă— User Lifespan = $25 Ă— 24 = $600
  • CAC:LTV Ratio = CAC / LTV = $50 / $600 = 1:12


Interpretation:

  • A ratio of 1:12 indicates a high return on ad spend, validating the use of programmatic ads.

đź§  Key Insights:

  • Mudrex Advantage: INR deposits/withdrawals & wallet-to-wallet transfers.
  • Creative Focus: Use real-time crypto trends for engaging ads.
  • Performance Metrics: CTR, CAC:LTV ratio, and conversion rates.



Detailing Product integrations


Detailing Referral / Partner program

Partner (Affiliate) Program: The UGC-Powered Growth Engine

Mudrex doesn't follow the traditional partner or referral programs. Instead, we’ve redefined affiliate marketing by turning it into a User-Generated Content (UGC)-driven growth engine. Our partners aren't just promoters; they're active participants in the crypto community, sharing their real experiences and insights.

đź§© Partner Segments

  1. 👨‍🏫 Crypto Gurus
    Crypto influencers like Pushpendra and Kashif Raza lead this segment. They:
    • Promote Mudrex through their social platforms like X (Twitter) and YouTube.
    • Participate in Mudrex-sponsored events, providing educational content and market insights.
    • Leverage their referral links and promo codes to onboard their engaged followers.
  2. đź’Ľ Fund Managers
    Fund managers with crypto-savvy clients play a key role by:
    • Recommending Mudrex as a trusted investment platform.
    • Using personalized referral links or promo codes for their client network.
    • Sharing portfolio performance and insights through presentations and webinars.
  3. 🎥 YouTube Streamers & Racers
    YouTube streamers who conduct live trading sessions use Mudrex as their go-to platform. They:
    • Stream live trades and showcase their profit margins to build credibility.
    • Share their referral links directly with subscribers via video descriptions and pinned comments.
    • Offer exclusive promo codes during live Q&A sessions to drive engagement.

🚀 Why This Program Works

  • Authenticity: Real users share real experiences, making the content more relatable.
  • UGC-Driven: Every trade, profit screenshot, or shared experience acts as organic marketing.
  • Multi-Platform Reach: Content is spread across YouTube, X, Telegram, and event collaborations.

🤝 Partner (Affiliate) Program_ The UGC-Powered Growth Engine - visual selection.png




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