Sphere Weekly Report — CW 77

This Week in Sphere Ecosystem News & Updates

Hey Sphereans! Welcome to another edition of the Sphere Weekly Report. We’re excited to bring you the latest news, updates, and insights from the Sphere Ecosystem. Let’s dive right in.

Chronos x Preon AMA: A Significant Milestone

Last week, Chronos and Preon hosted a joint AMA session, featuring Simsala and a special guest from Offchain Labs, Nick Westlake. The session highlighted the synergy between Preon and its launch partners, and the broader Sphere Finance Ecosystem.

Sphere Finance is an early Chronos partner and wields considerable governance over the DEX by leveraging Dyson’s Liquid Market product for their governance token, $spCHR. This partnership showcases the collaborative and dynamic nature of the Sphere Ecosystem.

In a strategic move, Chronos is set to become a liquidity sink for $STAR, Preon’s native stablecoin. This represents another significant milestone in our journey towards a more integrated and efficient ecosystem.

Dyson: Sphere Earnings Pool Update

There was a minor delay in emitting $WMATIC rewards from the Sphere Earnings Pool. The hiccup was promptly addressed, and we’re operating smoothly once again. Many team members are currently attending ETHcc in Paris, which has proven to be an enlightening and fruitful event.

Our pool operates on an epoch timestamp basis, with rewards deployed at every epoch flip. Any refills before or after this are ‘queued’ and then manually inserted. While we were slightly early to refill this time, it’s essential to note that this has no effect on Sphereans. Your rewards will always be distributed in full, just at different speeds. Whether it’s 100 $WMATIC in 1 day or 2 days, you’ll still receive your 100 $WMATIC.

Sphere Marketing Recap

At Sphere, we value our community and strive for transparency in our operations. This section seeks to address common queries and provide some insight into our marketing strategy.

Sphere’s Marketing Strategy: A Magnified View

Creating an effective marketing plan involves four main steps:

• Identifying the target audience,
• Placing ourselves in their field of vision,
• Capturing their attention,
• Demonstrating how our product solves a user pain point.

Bypassing any of these steps can lead to inefficient allocation of resources and diluted messaging.

We have adopted two key strategies for the launch of Preon, $STAR, and $PREON. First, we’ve sought to understand the distinct use cases for each — they are different, yet part of the whole project. Second, we have taken into account the cash burn rate. Every marketing activity has a cost, whether direct or indirect, and it is essential we maximize the return on our investment.

We have made two key decisions in the launch phase of Preon:

• The onboarding of a marketing agency (more details below),
• Launching Preon in stages, separating $STAR from Preon & $PREON.

By dividing the launch, we have more options for building awareness and creating necessary liquidity for $STAR.

Marketing Agency Onboarding: All Hands on Deck

As stated above, the Sphere Team came to the critical decision of onboarding a marketing agency to provide guidance on expanding the scope of the Sphere Ecosystem’s marketing in the DeFi space. That marketing agency is none other than Scrib3.

Scrib3 is a prominent name in crypto project marketing. Composed of a team of mission-driven Web3 marketing experts specializing in content, social, public relations and business development, Scrib3 has a wealth of experience and resources. They have proven results and case studies, having worked with established names in the DeFi space, such as the Gains Network. They are well-connected to Key Opinion Leaders (KOLs) and several publications in the DeFi and broader Web3 space. Their insights into influencer marketing and content strategy have been invaluable in framing our approach to marketing and managing opportunity costs.

Scrib3 has also given tremendous insight into our strategy for the Preon launch, having helped the Sphere team to discern the benefits and drawbacks of Zealy quests, taken some of the social media content workload off of the team and contacted various influencers in their sphere (no pun intended) of connections to widen Preon’s reach.

In conclusion, the Sphere team is thrilled with the progress we’ve made and the partnerships we’ve formed. We’re eager to continue expanding our ecosystem and delivering value to our stakeholders. Stay tuned for more updates, and as always, thank you for your support! Sphere over and out.