I. The Challenge

In the aftermath of FTX's collapse, the crypto landscape looks radically different from the exchange-dominated era that preceded it. "Not your keys, not your coins" has evolved from a cypherpunk mantra to a mainstream imperative. Yet despite this shift in sentiment, a peculiar paradox persists: while only 10-20% of crypto assets are held in custody by centralized exchanges, the exchanges dominate trading volume thanks to their superior user experience.

Enter MetaLend, a protocol with an audacious vision: to bring every feature crypto traders love about centralized exchanges – from limit orders to margin trading – to the self-custody world. By July 2024, Metalend already built an impressive foundation, with 35,000 users leveraging their platform to track and manage over $1B in self-custodied assets. The protocol's technical capabilities were robust, offering everything from multi-wallet portfolio tracking to gasless limit orders.

After four years of organic growth through word-of-mouth and community building, MetaLend faced their most complex challenge yet – scaling through paid advertising in the highly regulated crypto space. The obstacles were multifaceted: each advertising platform maintained its own intricate framework of crypto-related restrictions, requiring careful navigation of both compliance requirements and technical terminology. The timing was particularly interesting, coming in the wake of FTX's collapse when trust in centralized exchanges was at an all-time low – a perfect opportunity for creative messaging around self-custody benefits.

The core challenge? Translate sophisticated DeFi functionality – think "non-custodial protocol with automated yield optimization" – into marketing messages that were both compliant and compelling. MetaLend needed to compete with well-funded centralized exchanges while explaining their technical advantages in terms that would resonate with mainstream crypto users. All this while working within advertising guidelines that restricted many of the keywords that best described their offering.

II. The Strategy Shift

To tackle this unique set of challenges, Deviate Labs first conducted a comprehensive competitive analysis that revealed MetaLend's distinct market position. The landscape they uncovered was surprisingly fragmented:

• Centralized exchanges excelled at user experience but required surrendering custody
• DEX aggregators championed decentralization but offered limited functionality
• Traditional wallets kept assets safe but provided minimal trading features
• Specialized DeFi protocols did one thing well but created a fragmented experience

While others were playing checkers, MetaLend was playing 3D chess. Their platform seamlessly combined true self-custody with multi-wallet portfolio tracking, cross-chain trading, margin capabilities, and automated yield optimization – essentially offering everything a trader could want without compromising on security. It was like discovering a Swiss Army knife in a drawer full of single-purpose tools.

This unique positioning led to a powerful core value proposition: "All the features of an exchange, none of the custodial risk." But turning this comprehensive offering into compliant, compelling ad creative required some serious marketing innovation.

Deviate Labs crafted a multi-layered messaging strategy designed to resonate with different user segments while navigating the complex web of crypto advertising regulations:

• Asset Safety: Emphasizing self-custody benefits without triggering compliance flags
• Unified Experience: Spotlighting the "everything in one place" convenience factor
• Power Tools: Showcasing specific features like limit orders and margin trading
• Yield Optimization: Highlighting automated earnings opportunities
• DeFi Education: Breaking down complex concepts into bite-sized insights

This strategic framework wasn't just about avoiding regulatory pitfalls – it was about turning MetaLend's technical sophistication into a compelling narrative that could cut through the noise of crypto marketing. Think less "To the moon! 🚀" and more "Your keys, your coins, your complete trading toolkit."

The team crafted a creative strategy that masterfully played off recent events in the crypto world. One particularly successful campaign featured cheeky references to FTX's collapse, with ad creative that captured the crypto community's growing skepticism of centralized exchanges. Think memes of empty exchange vaults juxtaposed with MetaLend's self-custody solution, or clever taglines like “No more "trust me, bro" from exchanges. Take control with self-custody on MetaLend.” The approach struck marketing gold – serious enough to build trust, witty enough to get shared.

III. The Discovery Phase

With the strategic framework in place, Deviate Labs initiated a comprehensive testing phase to identify which messages and channels would drive sustainable growth for MetaLend. The team knew that unlike most crypto products that blast their marketing across every available surface, they needed a more surgical approach.

Initial market research revealed something fascinating: while MetaLend had built its early success with digital NFT assets in gaming, their most engaged users were actually seasoned DeFi traders who were tired of juggling multiple platforms. This insight sparked a methodical expansion of their target audience, with India emerging as a particularly promising market.

The team deployed a multi-channel testing strategy that:

• Paid Media: While Google Search initially seemed promising with a $36 CPA compared to Twitter's $88 and YouTube's encouraging $26, the real breakthrough came through geographic targeting. India emerged as the golden ticket, delivering an almost unbelievable $0.38 CPA. This wasn't just good – it was "double-check your spreadsheet formulas" good. The secret sauce? A combination of precise geographic targeting and messaging that emphasized earning opportunities rather than just security features.
• Worldwide Landing Page Speed Optimization: While the web developers had snappy loadspeeds in their US-based desktop environments - loadspeed problems lurked beneath the surface. When Metalend go-to-market began to emphasize India, the website load strategy needed to be re-examined from the perspective of a mobile user on the other side of the world. Initial analysis revealed concerning performance issues - the homepage Google PageSpeed scores hovered abysmally in the 16-29 range. Deviate Labs conducted a comprehensive technical audit and optimization sprint, implementing changes that boosted performance scores above 50 across all key pages for Metalend’s new Indian audience.
• Landing Page Content: The numbers told an fascinating story: While the homepage maintained steady performance, a dedicated “Earn” page focusing on passive income generation from idle crypto converted traffic at a whooping 15.7%. This validated the team's hypothesis that yield opportunities were a powerful hook for sophisticated crypto users.

But perhaps the most significant growth discovery came through integrations as a growth strategy. A successful integration with Coinbase Wallet generated a steady stream of high-converting traffic and unique opportunities for co-marketing and feature placements.

As part of our engagement, we explored incentives as a method for conversion optimization. The industry challenge is that many incentivized fall flat as confusing or commonplace. However, the team struck gold with a 1% deposit bonus campaign. This promotion struck the perfect balance – attractive enough to drive action but sustainable enough to scale. Better yet, it gave the team a concrete hook for their ad creative that didn't trigger regulatory red flags (and by making it a limited-time offer, we introduced FOMO as a way of driving conversion further).

IV. The Execution

Armed with insights from the discovery phase, Deviate Labs shifted into high gear with an execution strategy that would make a Formula 1 team jealous. The key? Orchestrating multiple growth channels while maintaining the precision of a Swiss watch.

The website transformation started with a complete overhaul of the conversion funnel. Gone were the days of throwing users into the deep end of DeFi jargon. The new approach led with clarity: "Time is Money, and Your Crypto is Wasting Both" became the hook that caught attention, while the 1% bonus promotion sealed the deal. The team created a series of head-turning header designs that made self-custody sexy – think sleek 3D visuals of floating wallets and pulsing yield indicators.

In the paid media arena, Google Ads emerged as the powerhouse channel, but with a twist. While initial tests focused on security and self-custody messaging, the data revealed that "earn" focused campaigns consistently outperformed other angles. The team leaned into this insight, crafting snappy headlines like "Put Your Crypto to Work" and "Earn More from Your Crypto Assets" – copy that spoke directly to users' desire for passive income without triggering regulatory compliance issues.

The geographical rollout revealed some fascinating insights about global market opportunities:

• India emerged as the undisputed champion, delivering an almost unbelievable $0.38 CPA
• UAE showed strong performance with sophisticated crypto users
• Brazil & Turkey demonstrated promising initial results, setting the stage for expanded campaigns

Beyond paid channels, the team orchestrated a sophisticated multi-channel push. Premium newsletter placements in DappRadar and Pantera drove credibility. The Coinbase Wallet integration story even generated some organic buzz across the crypto community and media. And a carefully cultivated network of crypto KOLs helped explain MetaLend's nuanced value proposition to their engaged audiences (with a high-emphasis on shared screens to visually assuage any fears of complexity).

Perhaps most impressively, the team pulled this off while dancing through advertising regulations like a crypto-savvy Fred Astaire. Every ad, every landing page, every piece of creative threaded the needle between compelling and compliant – proving that with the right message and targeting, growth marketing can transcend borders.

V. The Results

The six-month sprint from July to December 2024 wasn't just about maintaining MetaLend's already impressive metrics – it was about building and optimizing a sophisticated growth engine capable of scaling the platform's success. The results tell a story of rapid experimentation, technical optimization, and creative innovation.

Let's talk numbers that actually moved the needle. The advertising operation went from zero to sixty faster than a crypto bull run, with Google Ads emerging as the star performer. The platform consistently delivered new sign-ups (more specifically, connected crypto wallets) at $36 each – a remarkable achievement in the notoriously expensive crypto acquisition space. YouTube campaigns showed even more promise, bringing in users at $26 each and validating the team's bet on educational content. But the real showstopper? India. Through precise targeting and messaging refinement, the team achieved an almost unbelievable $0.38 CPA, a number so good it prompted multiple spreadsheet double-checks.

The technical optimization story is equally impressive. Initial PageSpeed scores for key landing pages were languishing in the 16-29 range – practically prehistoric by modern web standards. After a comprehensive optimization sprint, these same pages were humming at 50+, creating a foundation for improved conversion rates across the board:

• The /earn page became the crown jewel with a 15.7% conversion rate
• Homepage sign-up clicks maintained a healthy 8.7%
• The /borrow page delivered a solid 6% conversion rate

But perhaps the most impressive feat was the team's ability to pivot and capitalize on emerging opportunities. When the 1% deposit bonus campaign concept emerged, the team rapidly developed and deployed new creative assets across channels. When DappRadar partnership opportunities arose, they quickly crafted custom content strategies. Each new angle was tested, measured, and either scaled or shelved with the precision of a Swiss watchmaker.

Most importantly, Deviate Labs achieved the holy grail of agency work: building a sustainable, transferable growth machine. By December, MetaLend's in-house team was ready to take the reins, armed with:

• Battle-tested ad creative templates and frameworks
• Proven keyword strategies across multiple channels
• Technically optimized landing page architecture
• Clear performance benchmarks by channel and geography
• Documented best practices for navigating crypto ad regulations
• Multi-channel content creation playbooks

This wasn't just about campaign metrics – it was about transforming MetaLend's marketing approach from opportunistic to systematic. The team built a growth engine that could not only sustain current performance but scale efficiently as the platform expands. In an industry where most marketing feels like a game of chance, Deviate Labs helped MetaLend build something much more valuable: a repeatable formula for success.

VI. The Future

As we look ahead, MetaLend isn't just challenging established exchanges – they're rewriting the playbook for what self-custody platforms can be. The roadmap reads like a DeFi trader's wish list: expanded margin trading capabilities, even more sophisticated yield optimization, and cross-chain innovations. But perhaps more significant than any single feature is what MetaLend has proven: that with the right marketing approach, self-custody doesn't have to mean sacrificing user experience or growth potential. The platform is well-positioned to capitalize on the continued shift away from centralized exchanges, with a proven acquisition engine ready to scale.

Deviate Labs' role? Consider us the proud mechanics who helped build the growth engine from the blocks up. While MetaLend's in-house team now handles the day-to-day marketing operations, we're still around to collaborate on high-octane growth initiatives. Think of us as the nitrous oxide in their marketing tank – there when they need an extra boost.

The TL;DR

• The Challenge: Help MetaLend scale through paid advertising while navigating crypto's complex regulatory landscape and post-FTX trust issues.
• The Strategy Shift: Deviate Labs positioned MetaLend as the best of both worlds: “All the features of an exchange, none of the custodial risk.” The strategy translated complex functionality—like gasless limit orders and automated yield optimization—into clear, compliant, conversion-driving campaigns.
• The Discovery Phase: MetaLend had built its early success with digital NFT assets in gaming, their most engaged (and profitable) users were actually DeFi traders who were tired of juggling multiple platforms.
• The Execution: Configuring ad platforms and ad tracking from the ground up. Roll-out new landing pages that tied to dedicated DeFi creative. Revamped the core website pages to reflect the DeFi direction. Pursue the “x-factor” with witty ads poking fun the industry villain, Sam Bankman-Fried.
• The Results: Geographic optimization yielded a $0.38 CPA in India - a forward-thinking crypto geography. Conversion optimization resulted in a 15.7% conversion on a newly crafted Earn page emphasize passive income opportunities for crypto lending. Ad units that cut through the crypto noise and new users rofl-ing.
• The Future: With its growth engine in place, MetaLend is poised to lead the shift from centralized exchanges to self-custody platforms. Deviate Labs operates at-the-ready powering ad hoc high-octane growth campaigns.