Introduction

This paper explores the critical role of crypto payment solutions in driving the growth and broader adoption of the cryptocurrency ecosystem, fundamentally revolutionizing user experience and lowering the barriers to entry for blockchain technology.

From Incentive Innovation to KOL Marketing: A Case Study on Moonshot’s User Growth

This report dissects the growth strategies and mechanisms behind Moonshot, a cryptocurrency platform that has achieved rapid user growth in its niche and garnered significant market traction. By examining how each platform succeeded—through leveraging the influence of KOLs, focusing on product innovation, and designing incentive-based ecosystems—we gain deep insights into building sustainable growth models in the Web3 and memecoin space, ultimately paving the way for continuous innovation and user-centric economic models.

The Relationship Between Crypto Payments and User Acquisition

Crypto payments are particularly effective in driving user adoption because they simplify the traditionally complex processes associated with blockchain interactions, such as wallet setup, private key management, and cumbersome transaction procedures. Moreover, by offering convenient fiat currency deposit functions, these payment solutions provide a seamless transition for users from the traditional financial system to cryptocurrency, significantly lowering the entry barrier and making it easier for new users (especially those unfamiliar with crypto technology) to actively participate in blockchain platforms.

Case Study: Kaito

Kaito is an excellent example of using payment functionality to acquire users. Serving hedge funds, traders, researchers, and developers globally, Kaito demonstrates how seamless crypto payments can fuel growth. Seeking a scalable recurring payment solution, Kaito adopted Loop to eliminate manual billing, saving time and reducing operational costs. By integrating Loop with Stripe, Kaito now supports fiat and crypto subscriptions—covering Ethereum, Polygon, BNB Smart Chain, Optimism, Arbitrum, and Base—making it easier for users to choose their preferred payment method and helping Kaito expand its global reach.

Crypto Payment Settlement Solutions: AEON

Protocols like AEON further enhance the accessibility and utility of crypto payments. AEON allows payers to use crypto assets from any blockchain or transaction account to settle transactions in the recipient’s preferred target chain or fiat currency. This simplifies user experience and broadens the application scope of digital assets. Since its launch last year, AEON has integrated with nearly 100 partners, including 4meme, Bitget Wallet, and TON, currently supporting payments to over 1 million offline physical merchants in Southeast Asia. Its extensive integration shows that effective crypto payment solutions can significantly boost user adoption by enabling seamless transactions and adapting to various ecosystems.

Moreover, the protocol’s current integration with AI agents opens new possibilities for automated financial interactions. This includes empowering autonomous agents to complete real-world payment tasks, such as booking hotels, purchasing groceries, ordering coffee, and delivery services. These advancements align with the trend of AI-driven financial agents, with platforms like Coinbase’s AgentKit integrating with OpenAI’s Agents SDK to equip AI agents with on-chain wallets for secure, internet-native financial transactions. This integration enables AI agents to autonomously manage service payments, access advanced data sources, and interact with decentralized finance (DeFi) protocols, enhancing operational efficiency and user experience. Similarly, in the decentralized physical infrastructure network (DePIN) space, projects like Helium Mobile have partnered with Sphere to offer new users the option to pay for mobile plans with various cryptocurrencies. By linking supported wallets like Phantom, Coinbase, and Solflare, users can prepay for a year of service, increasing the flexibility and practicality of using crypto to pay for basic service fees. The fusion of AI-driven payment agents with simplified crypto payment protocols like AEON demonstrates the growing synergy between emerging technologies, creating a more efficient and user-friendly crypto payment system for global users.

Growth Case Study: Moonshot

Moonshot is an application built on the Solana blockchain, aiming to simplify the trading process of memecoins and lower the barrier for average users to enter the cryptocurrency market. Moonshot’s core competitive advantage lies in its deep understanding and precise grasp of the memecoin market, as well as the convenient fiat on-ramps it offers, such as Apple Pay, credit cards, and PayPal. These payment methods enable users to easily convert fiat currency into cryptocurrency.

1. Early Influence of KOLs

Renowned KOL Murad (MustStopMurad) was a significant driver of Moonshot’s organic traffic in its early days:

• Murad’s Endorsement: In July, Murad’s strong endorsement of Moonshot on Twitter sparked a surge in attention. His influence further amplified after his “Memecoin Supercycle” speech at the Token2049 Summit in Singapore in September.

• Riding the Meme Coin Wave: The “SPX 6900” that Murad promoted simultaneously saw its market cap soar from under $9 million to $900 million. Moonshot had already listed this token early, establishing a reputation for “early discovery of high-potential tokens.”

• Positioning as the Go-To Platform: By leveraging recommendations from top KOLs and listing potential tokens early, Moonshot positioned itself as the preferred platform for high-growth memecoins.

2. Growth by Riding Hot Meme Coin Projects

Moonshot’s growth broke through its initial circle after listing $MOODENG before its price surge:

• Listing Effect: After $MOODENG’s continuous price increase, Moonshot actively promoted this success on its official social channels, highlighting record-breaking trading volumes and rising token prices.

• Community Interaction: The official Twitter account of $MOODENG also responded, frequently recommending Moonshot as the preferred platform to purchase its token. This organic collaborative marketing further expanded Moonshot’s visibility and credibility.

• Attraction of New Projects: Due to multiple early listings of “blockbuster” memecoins, Moonshot was positioned as an early discovery platform, attracting new projects to apply for listing and encouraging the community to trade on Moonshot.

3. Interaction Between Official and KOLs

Moonshot’s Twitter strategy focuses on amplifying community and KOL content:

• Sharing KOL Posts: Frequently retweeting and commenting on KOL discussions about Moonshot.

• Giveaway Activities: Attracting new users through giveaways.

• Showcasing Profits: Highlighting screenshots of users’ substantial earnings and emphasizing success stories.

• Engaging in Hot Topics: Participating in discussions on hot market news and creating a friendly, supportive environment for new users.

4. “Moonshot Had It First”

This is a simple yet interesting strategy: Moonshot often retweets announcements from competitors or partners with the slogan “Moonshot Had It First.” This subtle message showcases Moonshot’s role as a pioneer, cleverly highlighting its early innovation and project listings, positioning Moonshot as the original leader in the field.

5. User Acquisition Methods

5.1 App-Based Referral Rewards

Moonshot offers referral rewards of up to $100, subject to the following restrictions:

• Geographical Restrictions: Users from the US, Singapore, Hong Kong, South Korea, and Japan.

• Deposit Requirement: A minimum of $20 fiat currency deposit into the account is required to qualify for the reward.

• Reward Claim Process: Both the referrer and referee need to click the “claim” button to receive the free memecoin.

Though the referral program seems straightforward, it cleverly requires a $20 deposit to ultimately receive the reward, ensuring that users are genuinely interested and filtering out less motivated registrants.

5.2 Social Media Referral Rewards

Moonshot encourages users to share referral links on Twitter, offering a 50% trading fee split from the referee as a reward. This activity also prompts KOLs to assist in spreading the word.

5.3 Reddit Rumors

Discussions on Reddit claimed that users could receive $3 to $100 just by registering without depositing. Although unverified, this buzz still increased the platform’s visibility and sparked curiosity. However, official documentation later confirmed the $20 deposit requirement.

Key Takeaway: By combining high rewards with a deposit threshold, Moonshot ensures quality user growth and screens for genuine traders.

6. Partnership with MoonPay—Integration of Third-Party Payments

6.1 Eliminating Technical Barriers: Simplifying Fiat-to-Crypto Conversion

Moonshot’s integration with MoonPay enables seamless fiat deposits via Apple Pay, credit cards, and PayPal, effectively bridging the Web2 and Web3 ecosystems. This eliminates user struggles with complex blockchain processes such as wallet setup, gas fee management, or private key storage.

According to an analysis by Gate.io Learn, “User Growth Structure: Among 204,000 new users, 83% completed their first deposit via Apple Pay/PayPal, with an average deposit amount of $420 per transaction.” These data emphasize the dominant role of Web2-friendly payment methods in attracting non-crypto-native retail investors, especially those interested in memecoin speculation but deterred by the cumbersome traditional blockchain processes.

MoonPay’s integration allows Moonshot to attract users who are completely unfamiliar with blockchain, akin to the simplicity of traditional payment apps like PayPal. This is crucial for attracting retail investors seeking low-barrier access to memecoins.

6.2 Fiat Dominance in Trading Volume

Fiat trading becomes the backbone of Moonshot’s trading activity, especially during high-profile memecoin launches:

• $TRUMP Example:

  • Within 12 hours of $TRUMP’s launch, Moonshot saw a spike in new users, with $400 million in fiat deposits flowing into Moonshot via MoonPay, setting a platform record. This accounted for approximately 65% of Moonshot’s historical trading volume during the event.

  • During the peak of $TRUMP, weekly trading volume soared to $1.73 billion, with fiat transactions accounting for over 80% of total inflows.

Overall Trend:

On average, 60-70% of daily trading volume on Moonshot comes from fiat purchases, especially evident in popular memecoins like SPX6900 and GOAT.

6.3 Liquidity Assurance During Surges in Demand

During periods of surging demand, MoonPay played a key role in enhancing Moonshot’s liquidity. When $TRUMP purchases on the platform depleted crypto reserves, MoonPay secured an emergency loan of $160 million ($100 million from Galaxy Digital and $60 million from Ripple) to prevent transaction failures during the explosive $THUMP launch on Solana.

Initially estimating a demand of $50 million, MoonPay’s request doubled to $100 million after the significant volume spike, ensuring uninterrupted transactions for 750,000 new users. After traditional banking resumed, MoonPay repaid the loan, thereby solidifying Moonshot’s reputation as a reliable, retail-friendly platform capable of seamless fiat-to-crypto conversion during high-volatility events.

Introduction

This paper explores the critical role of crypto payment solutions in driving the growth and broader adoption of the cryptocurrency ecosystem, fundamentally revolutionizing user experience and lowering the barriers to entry for blockchain technology.

From Incentive Innovation to KOL Marketing: A Case Study on Moonshot’s User Growth

This report dissects the growth strategies and mechanisms behind Moonshot, a cryptocurrency platform that has achieved rapid user growth in its niche and garnered significant market traction. By examining how each platform succeeded—through leveraging the influence of KOLs, focusing on product innovation, and designing incentive-based ecosystems—we gain deep insights into building sustainable growth models in the Web3 and memecoin space, ultimately paving the way for continuous innovation and user-centric economic models.

The Relationship Between Crypto Payments and User Acquisition

Crypto payments are particularly effective in driving user adoption because they simplify the traditionally complex processes associated with blockchain interactions, such as wallet setup, private key management, and cumbersome transaction procedures. Moreover, by offering convenient fiat currency deposit functions, these payment solutions provide a seamless transition for users from the traditional financial system to cryptocurrency, significantly lowering the entry barrier and making it easier for new users (especially those unfamiliar with crypto technology) to actively participate in blockchain platforms.

Case Study: Kaito

Kaito is an excellent example of using payment functionality to acquire users. Serving hedge funds, traders, researchers, and developers globally, Kaito demonstrates how seamless crypto payments can fuel growth. Seeking a scalable recurring payment solution, Kaito adopted Loop to eliminate manual billing, saving time and reducing operational costs. By integrating Loop with Stripe, Kaito now supports fiat and crypto subscriptions—covering Ethereum, Polygon, BNB Smart Chain, Optimism, Arbitrum, and Base—making it easier for users to choose their preferred payment method and helping Kaito expand its global reach.

Crypto Payment Settlement Solutions: AEON

Protocols like AEON further enhance the accessibility and utility of crypto payments. AEON allows payers to use crypto assets from any blockchain or transaction account to settle transactions in the recipient’s preferred target chain or fiat currency. This simplifies user experience and broadens the application scope of digital assets. Since its launch last year, AEON has integrated with nearly 100 partners, including 4meme, Bitget Wallet, and TON, currently supporting payments to over 1 million offline physical merchants in Southeast Asia. Its extensive integration shows that effective crypto payment solutions can significantly boost user adoption by enabling seamless transactions and adapting to various ecosystems.

Moreover, the protocol’s current integration with AI agents opens new possibilities for automated financial interactions. This includes empowering autonomous agents to complete real-world payment tasks, such as booking hotels, purchasing groceries, ordering coffee, and delivery services. These advancements align with the trend of AI-driven financial agents, with platforms like Coinbase’s AgentKit integrating with OpenAI’s Agents SDK to equip AI agents with on-chain wallets for secure, internet-native financial transactions. This integration enables AI agents to autonomously manage service payments, access advanced data sources, and interact with decentralized finance (DeFi) protocols, enhancing operational efficiency and user experience. Similarly, in the decentralized physical infrastructure network (DePIN) space, projects like Helium Mobile have partnered with Sphere to offer new users the option to pay for mobile plans with various cryptocurrencies. By linking supported wallets like Phantom, Coinbase, and Solflare, users can prepay for a year of service, increasing the flexibility and practicality of using crypto to pay for basic service fees. The fusion of AI-driven payment agents with simplified crypto payment protocols like AEON demonstrates the growing synergy between emerging technologies, creating a more efficient and user-friendly crypto payment system for global users.

Growth Case Study: Moonshot

Moonshot is an application built on the Solana blockchain, aiming to simplify the trading process of memecoins and lower the barrier for average users to enter the cryptocurrency market. Moonshot’s core competitive advantage lies in its deep understanding and precise grasp of the memecoin market, as well as the convenient fiat on-ramps it offers, such as Apple Pay, credit cards, and PayPal. These payment methods enable users to easily convert fiat currency into cryptocurrency.

1. Early Influence of KOLs

Renowned KOL Murad (MustStopMurad) was a significant driver of Moonshot’s organic traffic in its early days:

• Murad’s Endorsement: In July, Murad’s strong endorsement of Moonshot on Twitter sparked a surge in attention. His influence further amplified after his “Memecoin Supercycle” speech at the Token2049 Summit in Singapore in September.

• Riding the Meme Coin Wave: The “SPX 6900” that Murad promoted simultaneously saw its market cap soar from under $9 million to $900 million. Moonshot had already listed this token early, establishing a reputation for “early discovery of high-potential tokens.”

• Positioning as the Go-To Platform: By leveraging recommendations from top KOLs and listing potential tokens early, Moonshot positioned itself as the preferred platform for high-growth memecoins.

2. Growth by Riding Hot Meme Coin Projects

Moonshot’s growth broke through its initial circle after listing $MOODENG before its price surge:

• Listing Effect: After $MOODENG’s continuous price increase, Moonshot actively promoted this success on its official social channels, highlighting record-breaking trading volumes and rising token prices.

• Community Interaction: The official Twitter account of $MOODENG also responded, frequently recommending Moonshot as the preferred platform to purchase its token. This organic collaborative marketing further expanded Moonshot’s visibility and credibility.

• Attraction of New Projects: Due to multiple early listings of “blockbuster” memecoins, Moonshot was positioned as an early discovery platform, attracting new projects to apply for listing and encouraging the community to trade on Moonshot.

3. Interaction Between Official and KOLs

Moonshot’s Twitter strategy focuses on amplifying community and KOL content:

• Sharing KOL Posts: Frequently retweeting and commenting on KOL discussions about Moonshot.

• Giveaway Activities: Attracting new users through giveaways.

• Showcasing Profits: Highlighting screenshots of users’ substantial earnings and emphasizing success stories.

• Engaging in Hot Topics: Participating in discussions on hot market news and creating a friendly, supportive environment for new users.

4. “Moonshot Had It First”

This is a simple yet interesting strategy: Moonshot often retweets announcements from competitors or partners with the slogan “Moonshot Had It First.” This subtle message showcases Moonshot’s role as a pioneer, cleverly highlighting its early innovation and project listings, positioning Moonshot as the original leader in the field.

5. User Acquisition Methods

5.1 App-Based Referral Rewards

Moonshot offers referral rewards of up to $100, subject to the following restrictions:

• Geographical Restrictions: Users from the US, Singapore, Hong Kong, South Korea, and Japan.

• Deposit Requirement: A minimum of $20 fiat currency deposit into the account is required to qualify for the reward.

• Reward Claim Process: Both the referrer and referee need to click the “claim” button to receive the free memecoin.

Though the referral program seems straightforward, it cleverly requires a $20 deposit to ultimately receive the reward, ensuring that users are genuinely interested and filtering out less motivated registrants.

5.2 Social Media Referral Rewards

Moonshot encourages users to share referral links on Twitter, offering a 50% trading fee split from the referee as a reward. This activity also prompts KOLs to assist in spreading the word.

5.3 Reddit Rumors

Discussions on Reddit claimed that users could receive $3 to $100 just by registering without depositing. Although unverified, this buzz still increased the platform’s visibility and sparked curiosity. However, official documentation later confirmed the $20 deposit requirement.

Key Takeaway: By combining high rewards with a deposit threshold, Moonshot ensures quality user growth and screens for genuine traders.

6. Partnership with MoonPay—Integration of Third-Party Payments

6.1 Eliminating Technical Barriers: Simplifying Fiat-to-Crypto Conversion

Moonshot’s integration with MoonPay enables seamless fiat deposits via Apple Pay, credit cards, and PayPal, effectively bridging the Web2 and Web3 ecosystems. This eliminates user struggles with complex blockchain processes such as wallet setup, gas fee management, or private key storage.

According to an analysis by Gate.io Learn, “User Growth Structure: Among 204,000 new users, 83% completed their first deposit via Apple Pay/PayPal, with an average deposit amount of $420 per transaction.” These data emphasize the dominant role of Web2-friendly payment methods in attracting non-crypto-native retail investors, especially those interested in memecoin speculation but deterred by the cumbersome traditional blockchain processes.

MoonPay’s integration allows Moonshot to attract users who are completely unfamiliar with blockchain, akin to the simplicity of traditional payment apps like PayPal. This is crucial for attracting retail investors seeking low-barrier access to memecoins.

6.2 Fiat Dominance in Trading Volume

Fiat trading becomes the backbone of Moonshot’s trading activity, especially during high-profile memecoin launches:

• $TRUMP Example:

  • Within 12 hours of $TRUMP’s launch, Moonshot saw a spike in new users, with $400 million in fiat deposits flowing into Moonshot via MoonPay, setting a platform record. This accounted for approximately 65% of Moonshot’s historical trading volume during the event.

  • During the peak of $TRUMP, weekly trading volume soared to $1.73 billion, with fiat transactions accounting for over 80% of total inflows.

Overall Trend:

On average, 60-70% of daily trading volume on Moonshot comes from fiat purchases, especially evident in popular memecoins like SPX6900 and GOAT.

6.3 Liquidity Assurance During Surges in Demand

During periods of surging demand, MoonPay played a key role in enhancing Moonshot’s liquidity. When $TRUMP purchases on the platform depleted crypto reserves, MoonPay secured an emergency loan of $160 million ($100 million from Galaxy Digital and $60 million from Ripple) to prevent transaction failures during the explosive $THUMP launch on Solana.

Initially estimating a demand of $50 million, MoonPay’s request doubled to $100 million after the significant volume spike, ensuring uninterrupted transactions for 750,000 new users. After traditional banking resumed, MoonPay repaid the loan, thereby solidifying Moonshot’s reputation as a reliable, retail-friendly platform capable of seamless fiat-to-crypto conversion during high-volatility events.