Background
CoW Protocol is a leading DEX aggregator known for MEV-blocking, protecting traders from value extraction while routing orders for best execution. In a crowded DeFi market with scarce, high-quality crypto-native distribution, CoW Protocol needed a reliable way to reach real, wallet-connected users and grow at a sustainable CAC.
Campaign
Over a 5+ month campaign, HypeLab started by targeting users with detected wallet extensions to ensure high intent from day one. As data accumulated, our machine-learning models refined segmentation toward DeFi-active cohorts, especially users who frequently perform token swaps and expanded via lookalike audiences. We continuously split-tested creative sets and country mixes, dialing budgets into the combinations that delivered the strongest conversion efficiency across top crypto properties.
Results
The campaign initially matched the metrics CoW Protocol saw on leading web2 ad networks, then after iterative optimization, it improved performance by roughly 200%. Ultimately, HypeLab delivered a 4× cheaper CAC than the next best-performing channel and maintained that efficiency over 5+ months, establishing one of CoW Protocol's most effective paid growth engines.
Why it matters
Crypto-native reach plus wallet-aware targeting turns noise into acquisition. By pairing on-chain intent signals with iterative ML optimization, CoW Protocol scaled new users at a fraction of the cost of traditional channels, without sacrificing precision or brand fit.
About Hypelab:
HypeLab is the top web3-focused advertising network helping hundreds of clients like Metamask, Circle, Uniswap, and more acquire real web3 users at scale. We have the largest quality inventory in the crypto industry and offer advanced targeting to reach your target audience. We empower web3 brands, protocols, dApps, and ecosystems the tools to scale sustainably and intelligently.