How We Drove 46% Greater Cost Efficiency for Matcha’s V2 Launch

How We Drove 46% Greater Cost Efficiency for Matcha’s V2 Launch

Through Neolune, EVG worked with Matcha by 0x Protocol to support the launch of its V2 bridge and price engine update through a targeted Web3 advertising campaign. The mission was to increase awareness, drive qualified traffic to the platform, and help Matcha reach DeFi users across specialized Web3 ad networks during an important product launch.

The Obstacle

Matcha had a strong product and a major platform update, but did not have an in-house advertising team with deep experience running campaigns across Web3 ad networks. This created a challenge around how to structure the campaign, select the right audiences, test creative, and manage optimization during the launch window. The DeFi market was also highly competitive, meaning the campaign needed to do more than generate impressions. It needed to reach relevant users efficiently, communicate the value of the V2 update clearly, and create measurable traffic to the platform without wasting spend across low-performing audiences or channels.

Our Approach

Neolune worked closely with the Matcha team to understand the functionality of the V2 bridge and price engine update, then translated those product advantages into campaign messaging, creative direction, and audience targeting. Together, we developed ad copy, visual direction, key colours, and campaign assets designed to communicate the value of the update to DeFi users. The campaign was structured around testing and optimization. During the first two weeks, we tested different messaging, creative variations, audience segments, and Web3 ad networks to identify where the campaign was gaining the strongest traction. After reviewing performance data, we doubled down on the best-performing audience segments and networks for the final two weeks. Throughout the engagement, Neolune provided campaign guidance, performance insights, and ongoing optimization support, helping Matcha navigate a specialized advertising environment without needing an internal Web3 advertising team.

The Result

The campaign generated 1.2 million impressions at a cost of $0.0067 per impression, achieving a CPM that was approximately 46% more cost-efficient than typical benchmark CPM campaigns. The campaign also drove more than 1,500 users to the platform during the V2 launch period. By combining audience testing, creative optimization, Web3 ad network selection, and weekly performance analysis, Neolune helped Matcha create broad launch awareness while maintaining strong cost efficiency in a competitive DeFi advertising environment.

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