This Monetization Strategy project focuses specifically on Mudrex Futures, rather than the entire Mudrex ecosystem. The objective is to analyze how Futures as a product can drive sustainable revenue, pricing optimization, and user value extraction while maintaining a competitive edge.

Each pricing model, fee structure, and monetization tactic is tailored to Futures traders, addressing their unique trading behavior, volume-based incentives, and cost sensitivity. By refining fee structures, VIP tiers, and trade signal monetization, this project ensures that all solutions proposed are directly aligned with increasing Mudrex Futures adoption, trade volume, and long-term revenue potential without negatively impacting user experience.

About Mudrex

Mudrex is a global cryptocurrency investment platform that simplifies crypto trading and investing for retail users. Established in 2018, Mudrex offers a secure, FIU-registered platform with insured funds, ensuring a safe and seamless trading experience.

What Mudrex Provides

✅ Coins: Trade & invest in 650+ cryptocurrencies
✅ Coin Sets: Diversified theme-based crypto baskets
✅ Futures Trading: 350+ trading pairs with up to 100x leverage
✅ Secure & Compliant: FIU-registered, insured funds, and user-friendly UI

Mudrex empowers users with simple, powerful, and automated investment tools, making crypto accessible to beginners and experienced traders alike 🚀

A core value proposition is the primary advantage a product offers its customers, setting it apart from competitors.

Mudrex Futures allows users to trade cryptocurrency futures contracts with leverage. It targets two primary ICP segments:

🧪 Monetization Litmus Test For Mudrex Futures

Objective:

Understand if Mudrex Futures is ready to be monetized based on user retention, depth of engagement, and willingness to pay.

1. Retention Analysis

Retention Curve Observations:

• Sharp initial drop from Week 0 (100%) to Week 1 (approx. 40%), indicating onboarding friction or unmet expectations.
• Gradual decrease after Week 1, stabilizing slightly around Week 10-12 at approximately 15-20%.
• Long-term retention (beyond Week 12) continues declining, suggesting a lack of long-term engagement hooks.

Conclusion:

• Retention indicates failure in the litmus test. Significant churn immediately after onboarding shows users might not clearly understand product value or face early obstacles in using the product effectively.

2. Depth of Engagement Analysis

Current Situation:

• Majority of the users are casual traders, trading infrequently (2-3 trades/month).
• Core and power users constitute less than 50% of total active users.
• Users predominantly engage only with basic features.

Ideal Scenario (Benchmark):

• Over 50% of total users should be Core or Power users.
• High-frequency engagement with multiple features, indicating deeper product utility.

Conclusion:

• Mudrex Futures currently has shallow engagement, indicating it is not yet strongly monetizable. Users aren't fully utilizing advanced features, impacting perceived value.

3. Willingness to Pay (WTP)

Indicators of WTP:

• Limited usage beyond free/basic functionalities.
• High churn rate signals a mismatch between user expectations and delivered value.
• Users have shown sensitivity towards current fees (0.1%), affecting trading frequency.

Steps to Evaluate Further:

• Clearly identify target user segments (ICPs).
• Conduct user interviews and surveys to understand friction points and value perception.
• Run A/B experiments to test hypotheses around willingness to pay at different fee structures and feature access levels.

Conclusion:

• Willingness to pay appears low at the current stage. Users have not perceived enough differentiated value to justify payment consistently.

Overall Litmus Test Result:

❌ Failed👎

Immediate Next Steps:

• Deep dive into understanding and improving user onboarding.
• Develop clear value communication around unique features (e.g., trade signals).
• Focus on converting casual users to Core or Power users by educating them and enhancing perceived value.
• Conduct pricing experiments to identify an optimal fee structure that aligns with user value perception.
• As per the user research, most of the users faced bugs - Need to work non platform development and relaunch a version 2.0
• As per the user competitor research, it is identified that Mudrex Futures has the highest fees than competitors (almost 5X) and it is a major pain point of users -Need to work on a pricing plan

ICP Definition (Based on Analysis)

Since Mudrex Futures is currently struggling with retention, it requires a product revamp, along with strategic customer touchpoints. The strategy is structured as follows:

Phase 1: Product Revamp (Futures v2.0 Launch)

Product Enhancements:

• Complete UI overhaul:
• • Simplified trading interface.
  • Clear tutorials and contextual tips to assist beginners.
  • Seamless order flow with fewer friction points.
• New Features:
• • In-App Trade Signals (highly requested)
  • Copy Trading (Follow & mimic successful traders)
  • Volume-based Fee Tiering (encourage higher trade volume with lower fees)
  • Dynamic Leaderboard (to gamify trading)

Target Audience:

• New Futures traders
• Previously churned users who had negative experiences
• Active Spot traders who haven't tried Futures yet

Phase 2: Identifying Customer Touchpoints & Communications:

Touchpoint 1: In-App Experience

• Communication:
• • Clear, prominent banners: “Welcome to Futures v2.0 – Trade 350+ Pairs with Zero Fees!”
  • Interactive pop-ups: Highlighting the "new seamless trading flow” and “Follow top traders easily through Copy Trading!”

Touchpoint 2: Email & WhatsApp Outreach

• Communication:
• • Email Drip campaign: Announce Futures v2.0, clearly list new benefits & features.
  • Weekly emails reinforcing trade signals' success rate and benefits of zero fees.

Touchpoint 2: Push Notifications

• Communication:
• • Regular notifications at peak trade hours (evening hours aligned with US market timings).
  • Notifications prompting users to "Try zero-fee Futures trading today!” and “Copy top traders to boost your gains!”

Touchpoint 3: Social Media & Influencers

• Communication:
• • Influencer-led tutorials/reviews showcasing ease-of-use and high leverage.
  • Announcements about Futures v2.0 on platforms (Instagram, Twitter, Telegram).

Touchpoint 3: User Onboarding Flow

• Communication:
• • Guided walkthroughs on first trade.
  • Short educational videos embedded directly within the app.
  • Directly highlighting USPs like zero fees and large asset selection.

Touchpoint 4: Deposit & Balance Management

• Communication:
• • Proactive warnings/reminders about maintaining sufficient balance.
  • Simplified explanations and reminders about margin and leverage usage.
  • Quick access to support for deposit issues (P0 treatment).

Touchpoint 4: Customer Support (Alpha Queue)

• Communication:
• • Dedicated Futures helpdesk with prioritized support.
  • FAQ section updated specifically around Futures v2.0 features, deposit, leverage, and fee-related queries.

Phase 3: GTM Campaign Launch Plan

Zero-Fee Futures Launch

• Duration: 2 weeks
• Objective:
• • Immediate increase in user adoption and engagement.
  • Establish credibility and confidence in Futures v2.0.

Strategy:

• Promote aggressively through in-app banners, email, social media.
• Direct influencer marketing campaigns highlighting user benefits and success stories.
• Clear communication around benefits and managing risks, particularly in leverage trading.

Success Metrics:

• Number of New Futures Users
• Reactivation of Churned Users
• Overall Trading Volume

Rewards & Gamification:

• Weekly leaderboard showcasing top traders.
• Rewards (iPhone 16, PS5, Apple Watch) to incentivize top traders based on volume.
• Dynamic leaderboard prominently shown within the app to boost user engagement and competition.

Phase 4: Post-Campaign Strategy

• Fee Tiering:
• • Introduce attractive volume-based fee tiers to encourage continued trading.
• Regular Engagement:
• • Regular "Trading Dhamaka" events to maintain excitement.
  • Consistent performance updates and recognition for top traders through weekly/monthly leaderboards.
• Continuous Education & Communication:
• • Ongoing educational resources (webinars, trade signals).
  • Persistent highlighting of success stories and testimonials.
• Enhanced Support:
• • Maintain the Priority support queue to resolve critical Futures issues quickly.

1. What are customers paying for? Customers are paying for:

• Convenience & Ease of Use: Beginner-friendly, simple UI, and seamless onboarding.
• Access to Extensive Trading Opportunities: Largest range of futures pairs (350+), highest among Indian platforms.
• Reliable & Accurate Trade Signals: Exclusive daily signals (80% accuracy) simplifying investment decisions.
• Seamless INR Deposits: Unique in offering seamless INR deposit/withdrawal transactions.
• Enhanced Leverage: Highest leverage options (up to 100x) enabling amplified gains.

2. Where does Mudrex Futures stand out? Mudrex Futures uniquely offers:

• INR transactions: Seamless deposits and withdrawals in INR, unmatched by competitors.
• Market Coverage: Largest variety of Futures trading pairs (350+).
• Exclusive Trade Signals: Daily trading signals with high accuracy (~80%) for informed trading.
• Strong Community & Influencer Trust: Endorsed by credible influencers enhancing user trust and community strength.
• Simple UI and onboarding: Lower barriers to entry, especially valuable to crypto beginners.

Comparison Table

3. How should Mudrex position its Futures product? 

Mudrex should position itself as:

• India’s most convenient and beginner-friendly futures trading experience.
• Trusted: Backed by influencer endorsements, community-driven support, and transparency.
• Most Accessible: The go-to platform for seamless INR deposits and quick onboarding.
• Value-driven: Highlighting zero fees during promotional periods, easy-to-use UI, and accurate daily trade signals as core differentiators.
• Reliable and Safe: Communicating clear, transparent risk management features (e.g., margin warnings, liquidity notifications).

Based on the Monetization Litmus Test, Mudrex Futures is partially monetizing through trading fees but facing retention challenges. The retention data indicates significant drop-off, pointing towards the need for a revamped monetization strategy. The goal is clear: to monetize effectively without risking further churn.

Given my analysis:

• High initial churn after the first few weeks indicates friction points in the onboarding and initial trading experience.
• Long-tail retention remains low, signaling a lack of sustained engagement or compelling incentives for continued trading.

Thus, the monetization redesign will involve:

1. Prioritizing segments with higher retention potential (Champions, Loyalists).
2. Designing experiments that test willingness to pay and price elasticity clearly, optimizing for both short-term activation and long-term retention.

🔬 RFM Analysis & User Segmentation

To clearly understand user segments and build an effective pricing strategy, I conducted an RFM analysis based on Recency, Frequency, and Monetary value. This helps identify user behaviors across segments—Power, Core, and Casual Users—enabling tailored monetization plans. The table below highlights key behavioral traits like how recently users traded (Recency), how often they trade (Frequency), and their average trade value (Monetary). This segmentation provides clarity on how different users interact with our product. It also helps us prioritize segments such as Power Users (Champions) and Core Users (Loyal Customers), who have high engagement and higher monetary contribution.

Outcome & Pricing Approach:

• Power Users:
  Highly engaged users with high monetary contribution.
  Strategy: Implement exclusive pricing tiers, premium subscriptions, personalized trade insights, and lower fee incentives to retain loyalty and maximize revenue.
• Core Users:
  Regular and steady users who bring consistent revenue.
  Strategy: Introduce loyalty-based fee discounts, bundled offers, and incentives to trade more frequently, encouraging them towards becoming Power Users.
• Casual Users:
  Lower-frequency users with average spending potential.
  Strategy: Employ promotional offers, occasional discounts, and educational initiatives to increase trading activity and gradually transition them to higher-value segments.

Based on the available RFM segmentation grid from CleverTap:

Priority User Segments for Immediate Monetization:

Champions (8.38%)

• Recency: High (Recently active)
• Frequency: High (Regular and frequent traders)
• Monetary: High (Significant trade volume and revenue)
• Strategy: Introduce a premium fee structure, tailored perks such as priority support, advanced trading tools, and exclusive daily signals. Highly engaged users will likely accept premium monetization due to strong product affinity.

Loyal Customers (18.43%)

• Recency: Moderate-to-high
• Frequency: High (Consistent activity)
• Monetary: Moderate-to-high
• Strategy: Implement tiered pricing based on trading volume. Offer reduced trading fees at higher volumes. Provide clear messaging about incentives to trade more and move into higher-benefit tiers.

User Segments for Experimental Monetization:

Potential Loyalists (18.09%) & "Cannot Lose Them" (7.04%)

• Recency: Moderate
• Frequency: Moderate-to-high
• Monetary: Medium
• Strategy: Use targeted campaigns like zero-fee trials, volume-based incentives, or referral bonuses. Conduct experiments to identify optimal pricing that encourages sustained trading without pushing them away.

Promising Users (1.01%) & New Customers (3.85%)

• Recency: High
• Frequency: Low-to-moderate
• Monetary: Low
• Strategy: Free trials, first-trade bonuses, educational content, and clear entry-level fee structures. Gradually introduce monetization post a defined onboarding period.

User Segments for Reactivation & Future Monetization:

At Risk (15.41%), Need Attention (4.19%), About to Sleep (7.04%), and Hibernating (16.58%)

• Recency: Low
• Frequency: Low
• Monetary: Low-to-moderate
• Strategy: Initial focus on reactivation. Introduce communication such as personalized email reminders, push notifications highlighting platform updates (Futures V2.0 features), and temporary incentives like zero-fee trading or cashback. Monetization here should follow successful reactivation.

Monetization Experiments to Run:

Experiment 1: Tiered Fee Structure

• Objective: Understand price elasticity among Champions and Loyal customers.
• Approach: Introduce clear volume-based fee tiers. Test user response to reduced fees as their trading volume increases.
• Measurement: Monitor trade volume, revenue impact, and retention changes.

Experiment 2: Zero-Fee Campaign & Leaderboard Rewards

• Objective: Increase engagement from Potential Loyalists and "Cannot Lose Them" segments.
• Approach: Run zero-fee trading campaigns and reward high-volume traders with attractive prizes (e.g., iPhone 16, PS5).
• Measurement: User engagement, trade frequency increase, and retention post-campaign.

Experiment 3: Premium Feature Subscription

• Objective: Validate willingness to pay for premium features (e.g., priority support, additional daily signals, exclusive educational resources).
• Approach: Launch subscription plans targeting Champions and Loyal Customers. Highlight distinct benefits through clear, value-driven communication.
• Measurement: Subscription uptake rate, churn rate comparison, user satisfaction via feedback.

Summary of Rationale

• Why Champions and Loyal Users First?
• • Already engaged, least price-sensitive, and deliver consistent revenue.
• Why Experiment with Potential Loyalists and Promising Users?
• • These users have high potential to upgrade into loyal segments, provided the right incentives and monetization structures.
• Why Delay Monetization for At-Risk and Hibernating Users?
• • Immediate monetization could increase churn risk. Reactivation and gradual re-engagement strategies must precede monetization.

Objective of this Section:

Understand when users see maximum value in Mudrex Futures to decide the best time to charge them, ensuring the pricing matches the perceived value.

Determine Aha Moments & Happy Moments:

• Aha Moment:
• • The first successful Futures trade executed.
  • User successfully sets and hits a Take Profit or Stop Loss for the first time.
  • Receiving and acting on their first profitable trade signal.
• Happy Moments:
• • Consistently profitable trading streaks (3 consecutive profitable trades).
  • Significant returns from leveraging trades.
  • User moves from low leverage (e.g., 2x) to higher leverage trades (5x or above).
  • Hitting personal trading volume milestones (e.g., $1,000, $10,000, $100,000).

User Journey: Mapping Perceived Value :

Competitor Benchmarking:

Assess Mudrex Futures against competitors based on:

• Mudrex Futures has clear advantages in leverage, trade signal accuracy, and UI simplicity.
• Pricing structure currently higher than competitors; upcoming zero-fee campaign & new tiered structure will improve this area significantly.

Quantifying Results for Pricing

Visual Map (Perceived Value vs. Price Timing):

• Day 0: User joins and explores features, low perceived value initially (free usage encouraged).
• Week 1-2: Increased value perception with successful trade signals.
• Week 3-4: Peak perceived value after experiencing profitable trades and high leverage benefits. Ideal window to introduce monetization, possibly via fee tiers or subscription models.

🪢 Conclusion
Mudrex Futures should start charging once users consistently perceive high value. The optimal point is after the initial trading period (~Week 4), once trust and product engagement are high.

In deciding what Mudrex Futures should charge for, it's essential to focus on the product aspects most valued by users. Here's an analysis based on core value propositions and potential monetization factors.

To effectively monetize Mudrex Futures, our pricing strategy must align closely with user behavior, trading activity, and market expectations. Rather than a simple flat fee structure, we've created VIP tiers specifically for Power Users. This approach makes sense because user activity and revenue depend heavily on market conditions and trading volume. Trading fees are our primary revenue source, so charging users based on their actual volume aligns pricing with user value and market dynamics. This ensures fairness, motivates higher engagement, and maximizes revenue potential.

🤺 Pricing Strategies

Pricing Strategy 1 : VIP Tiered Volume-Based Fees

Strategy 2: Subscription-Based Premium Trade Signals

🧠 Rationale

These strategies clearly differentiate based on usage patterns, volume, and value perception. Casual users have simple, predictable costs, core users benefit from reduced fees with increased activity, and power users get significant cost advantages and additional premium services enhancing retention and monetization. For Power Users who trade frequently and generate higher volumes, we've created VIP fee tiers. The more they trade, the lower their fees. This motivates users to trade more and keeps them active on the platform. Additionally, to enhance value perception and encourage upgrades, we will introduce a Premium Signal Subscription. Users can opt-in for advanced insights and exclusive market signals, deepening their engagement and boosting platform loyalty.

Current Pricing Page Analysis

The current pricing structure for the platform is not directly integrated into the app or web interface in an intuitive manner. The fees are displayed on a separate webpage, and there is no direct pricing visibility within the app experience. This limits user awareness of potential savings, upselling opportunities, and incentives to trade more.

Redesigning the Pricing Page for Better Discovery and Engagement

To improve pricing discovery, user experience, and engagement, the following strategies should be implemented

Fee Page Integration in Futures Landing Page

1. • The Futures landing page should have a direct CTA leading to the Fees Page.
   • Users should be able to quickly check:
   • • The tiered fee structure.
     • Their personal fee savings.
     • How much more trading volume is required for better fee discounts.

💡 Rationale
Currently, the Futures page does not direct users to the fee structure.

• Many users may not know where to find fee details.
• Integrating a direct link will improve transparency and reduce friction in decision-making.

🛠️ Implementation

• Add a CTA button labeled "Check Fees" on the Futures page.
• When clicked, redirect users to the Fees Page.
• Show a summary banner on the Futures page:
• • Low fees for all traders
  • Higher volume = better rates!

Version 2 Release Modal (New Pricing Announcement)

1. • When launching a new version with updated pricing, display a modal to inform users.
   • The modal should highlight:
   • • Fee reductions and benefits.
     • Why the new version is better.
     • A CTA (Call-To-Action) leading to the fee details page.
       

💡 Rationale
When a pricing revision occurs, users must be made aware of the changes in a non-intrusive but noticeable way.

• A modal pop-up can highlight new fee reductions and their benefits.
• Users who previously hesitated due to higher fees can now reconsider trading.
• A clear CTA (Call-To-Action) should lead users to the new fee details page.

🛠️ Implementation

• Show a one-time modal after an app update or first login post-release.
• Highlight the fee reductions and benefits for different VIP tiers.
• Include a "Check New Fees" button leading to the updated Fees Page.

Bottom Sheet for First-Time Visitors

1. • A bottom sheet should appear when a new user lands on the Futures page.
   • This section should:
   • • Briefly showcase the reduced fees.
     • Highlight the advantages of trading on the platform.
     • Include a CTA to explore the pricing details.
       

💡 Rationale
New users may not actively seek out pricing details. Providing early exposure to fee benefits can improve conversions.

• A bottom sheet ensures that new users on the Futures page immediately see the fee benefits.
• This prevents them from abandoning the platform due to pricing uncertainty.

🛠️ Implementation

• Triggered only for new users landing on the Futures page.
• Summarize key benefits: low fees, deep liquidity, seamless trading.
• Add a CTA leading to the Fee Page.

Milestone-Based VIP Fee Tier Upsell

1. • Implement a personalized pop-up notification showing:
   • • Current VIP level and associated fee discounts.
     • How much more trading volume is needed to reach the next VIP tier.
     • Potential fee savings if they achieve the next tier.
   • This pop-up should be shown once a month at a set threshold.
   • Users should also be able to view this data anytime in the Fees Page.

💡 Rationale
Users are more likely to increase trading volume if they see the tangible benefits of reaching the next VIP tier.

• A personalized notification can highlight:
• • Current VIP tier and associated fee discounts.
  • Trading volume required to reach the next level.
  • Potential fee savings at the next VIP tier.

🛠️ Implementation

• Display monthly pop-ups when users approach a set threshold.
• Include a progress bar showing how close they are to the next VIP level.
• Ensure the Fees Page also displays this data for users to track.

Personalized Fee Savings Display

1. • On the Fee Page, users should see:
   • • The amount of trading fees they have saved due to their current VIP tier.
     • A comparison showing how much they would have paid at a lower VIP level.
     • Gamification elements (e.g., “You saved $X this month! Upgrade to VIP Y for more savings.”).

💡 Rationale
Users appreciate quantifiable savings, which reinforce the value of the platform’s pricing structure.

• Showing users how much they have saved because of their current VIP tier will:
• • Build trust in the platform.
  • Encourage more trading to unlock greater savings.

🛠️ Implementation

• Add a “Your Fee Savings” section in the Fees Page.
• Display:
• • Total savings in the last month.
  • Comparison with lower VIP tiers (to highlight benefits).
• Include gamification: “Save ₹X more by reaching VIP Y!”

Additional Enhancements (Optional)

1. • Dynamic Fee Calculator: Allow users to enter their trading volume and see how fees compare across tiers.
   • SEO Optimization: Ensure the Pricing Page is discoverable via search and well-linked within the platform.

💡 Rationale
These optional features further enhance pricing awareness and user engagement.

🔹 Dynamic Fee Calculator:

• Users enter their trading volume to see fee comparisons across VIP tiers.
• Helps traders estimate potential savings.
  
  Below is a fee calculator by Delta Exchange
  
  

🔹 SEO Optimization:

• The Pricing Page should be discoverable via search engines (Google, Bing).
• Helps new users researching crypto trading fees find the platform.

🛠️ Implementation

• Add an interactive fee calculator on the Fees Page.
• Optimize the Pricing Page SEO with keywords like “low crypto trading fees”, “best VIP trading tiers”, etc.

Rationale for the Redesign

✅ Improved Fee Awareness – Users understand the fee structure better.
✅ User Retention – Gamification (VIP tiers & savings) encourages higher engagement.
✅ Upsell Strategy – Personalized nudges drive users to increase trade volume.
✅ Seamless Onboarding – First-time visitors are informed early about fees.
✅ Better Discovery & Transparency – The Fees Page is more accessible within the app.