Author: Oak Grove Ventures Investment Research Team

introduction

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

This report analyzes the growth strategies and mechanisms behind Moonshot, a cryptocurrency platform that has achieved rapid user growth in its niche and gained strong traction in the market. By studying how each platform achieved success, from leveraging the influence of KOLs, focusing on product innovation, to designing an incentive-based ecosystem, we gain insight into how to build a sustainable growth model in the Web3 and memecoin space, ultimately paving the way for continued innovation and a user-centric economic model.

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. In addition, through convenient fiat currency deposit functions, these payment solutions provide a seamless experience for users to transition from traditional financial systems to cryptocurrencies, significantly lowering the barrier to entry and making it easier for new users (especially those who are not familiar with crypto technology) to actively participate in blockchain platforms.

Kaito is an excellent example of using payment capabilities to acquire users. The platform serves hedge funds, traders, researchers, and developers around the world, demonstrating how seamless crypto payments can drive growth. In search of a scalable recurring payment solution, Kaito adopted Loop to eliminate manual billing, saving time and reducing operating costs. By integrating Loop into Stripe, Kaito now supports fiat and cryptocurrency subscriptions — covering platforms such as Ethereum, Polygon, BNB Smart Chain, Optimism, Arbitrum, and Base — making it easier for users to choose their preferred payment method while also helping Kaito expand its global influence.

Crypto payment settlement solution protocols like AEON further enhance the accessibility and practicality of crypto payments. AEON allows payers to use crypto assets from any blockchain or trading account to settle transactions in the target chain or fiat currency preferred by the payee, which simplifies the user experience and broadens the scope of application of digital assets. Since its launch last year, AEON has integrated with nearly 100 partners, including 4meme, Bitget Wallet, TON, and currently supports payments to more than 1 million offline physical merchants in Southeast Asia. Its wide integration shows that effective crypto payment solutions can significantly increase user adoption by enabling seamless transactions and adapting to various ecosystems.

Additionally, the protocol’s current integration with AI agents opens up new possibilities for automated financial interactions. This includes enabling autonomous agents to complete real-world payment tasks such as booking hotels, buying groceries, ordering coffee, and delivery services. These developments fit in with the trend of AI-driven financial agents, with platforms like Coinbase’s AgentKit, integrated with OpenAI’s Agents SDK, equipping AI agents with on-chain wallets that enable them to conduct 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, improving 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 a variety of cryptocurrencies. By linking supported wallets such as Phantom, Coinbase, and Solflare, users can prepay for a year of services, adding the flexibility and practicality of using cryptocurrencies to pay for basic services. The convergence of AI-driven payment agents and streamlined crypto payment protocols like AEON demonstrates the growing synergy between emerging technologies, creating a more efficient and accessible crypto payment system for users around the world.

Growth Case: Moonshot

Moonshot is an application built on the Solana blockchain that aims to simplify the transaction process of memecoins and lower the barrier for ordinary 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 currency deposit channels it provides, such as Apple Pay, credit cards, and PayPal. These payment methods enable users to easily convert fiat currencies into cryptocurrencies.

1. The Early Influence of KOLs

Well-known KOL Murad (MustStopMurad) was an important promoter of Moonshot’s initial organic traffic:

Murad’s endorsement: In July, Murad expressed his strong support for Moonshot on Twitter, which triggered a surge in attention. In September, his influence was further amplified after he delivered a speech titled “Memecoin Supercycle” at the Token2049 Summit in Singapore.

Taking advantage of the meme coin craze: The market value of "SPX 6900" that Murad called out during the same period soared from less than 9 million US dollars to 900 million US dollars. Moonshot has already launched the token in advance, establishing a reputation for "early discovery of high-potential tokens."

By building momentum through recommendations from top KOLs and launching potential tokens in advance, Moonshot has established itself as the preferred platform for high-growth Meme coins.

2. Leverage the hot Meme coin project to achieve growth

After launching before the $MOODENG price surge, Moonshot’s growth broke through the initial circle:

• Listing effect: After the price of $MOODENG continued to climb, Moonshot actively promoted this success on its official social channels, emphasizing the record trading volume and rising token price.
• Joint interaction in the Meme Coin community: $MOODENG’s official Twitter account also responded, frequently recommending Moonshot as the preferred platform to purchase its tokens. This natural cooperative marketing further expanded Moonshot’s visibility and credibility.

Because of its early launch of "explosive" Meme coins many times, Moonshot is positioned as an early discovery platform, attracting new projects to actively apply for listing and encouraging the community to trade on Moonshot.

3. Interaction between the official and KOLs

Moonshot's Twitter strategy focuses on amplifying community and KO's L content:

• Share KOL posts: Frequently forward and comment on KOLs’ discussions about Moonshot.
• Giveaway activities: Attract new users through activities such as giveaway
• Show profitability: Highlight screenshots of users’ high returns and emphasize success stories.
• Hot Topics & Community Support: Join discussions on hot market news and create a friendly and supportive environment for new users.

4. "Moonshot Had It First"

It’s a simple but interesting strategy: Moonshot often retweets announcements from competitors or partners with the tagline “Moonshot Had It First.” This subtle messaging showcases Moonshot’s role as a pioneer, subtly highlighting Moonshot’s track record of early innovation and launches, positioning Moonshot as the original leader in the field.

5. New customer acquisition methods

5.1. Referral Rewards on the App

Moonshot offers referral rewards of up to $100, but comes with the following restrictions:

• Regional restrictions: Users in the United States, Singapore, Hong Kong, South Korea, and Japan
• Deposit requirement: A minimum of $20 in fiat currency must be deposited into your account to qualify for the bonus
• Reward collection process: Both the recommender and the recommendee need to click the "Receive" button to get free meme coins.

While the referral program seems straightforward, it cleverly requires users to deposit $20 to ultimately receive their reward, which ensures that users are truly willing to participate and filters out those who register with lower willingness.

5.2. Social Media Referral Rewards

Moonshot encourages users to share referral links via Twitter. Moonshot will provide 50% of the referral's transaction fee as a reward. This activity has also triggered the assisted spread of KOLs.

5.3. Rumors on Reddit

Some discussions on Reddit claimed that users could receive between $3 and $100 just for signing up without making a deposit. Although unconfirmed, this hype still raised the platform’s profile and sparked curiosity. However, documents from official channels eventually confirmed the $20 deposit requirement.

Key points: By combining high rewards with a low deposit threshold, Moonshot ensures the quality of user growth and screens out real traders.

6. Cooperation with MoonPay - access to third-party payment

6.1. Technical barriers removed: simplifying the conversion of fiat currencies into cryptocurrencies

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 the need for users to navigate complex blockchain processes such as wallet setup, gas fee management, or private key storage.

According to Gate.io Learn’s analysis, “User growth structure: Among 204,000 new users, 83% completed their first deposit through Apple Pay/PayPal, with an average deposit amount of $420 per transaction.” These data highlight the dominance of Web2-friendly payment methods in attracting non-crypto native retail investors, especially those who are interested in memecoin speculation but are deterred by the cumbersome processes of traditional blockchains.

The integration of MoonPay allows Moonshot to attract users who know nothing about blockchain, which is similar to the simplicity of traditional payment applications such as PayPal. This is crucial to attracting retail investors who are looking for a low barrier to entry to Meme coins.

6.2. Fiat currencies dominate transaction volume

Fiat trading became the backbone of Moonshot trading activity, especially during the high-profile meme coin launches:

$TRUMP example:

Within 12 hours of $TRUMP going live, Moonshot saw a surge in new users, and $400 million in fiat currency deposits flowed into Moonshot via MoonPay, setting a platform record. This accounts for approximately 65% of Moonshot’s historical transaction volume during the event.

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

Overall trend:

On average, 60-70% of the daily trading volume on Moonshot comes from fiat currency purchases, especially on popular meme coins such as SPX6900 and GOAT.

6.3. Liquidity protection during periods of demand surge

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

MoonPay initially estimated demand at $50 million, and after a significant spike in transaction volume, doubled its request to $100 million, ensuring uninterrupted transactions for 750,000 new users. MoonPay repaid the loan after traditional banking operations resumed, cementing Moonshot’s reputation as a reliable, retail-friendly platform that enables seamless fiat-to-crypto conversions during high-volatility events.

Summary and Conclusion

Moonshot leverages KOL-driven marketing and community-centric strategies to drive rapid growth. However, their core approach is different:

Growth points:

• KOL and community collaboration: Establishing strategic partnerships with well-known KOLs or conducting reciprocal promotions with popular projects can accelerate brand awareness.
• Incentivize high-quality users: Whether through user deposits or content quality, setting meaningful thresholds or providing rewards can ensure higher user engagement.
• Showcase success stories: Highlighting success stories inspires trust and garners media attention.
• Scaling through ecosystem tools: Voting platforms, referral systems, and OTC markets can foster deeper engagement and self-sustaining user adoption cycles.
• Access to fiat payments: Integrating simple fiat currency deposit methods (such as Apple Pay, credit cards, or PayPal) can greatly reduce the entry barrier for users who are not familiar with blockchain technology, thereby accelerating wider adoption.
• Improving user convenience through automated crypto payments: Crypto-based subscriptions and automated transactions simplify the user experience, appealing to crypto-native users who prefer direct on-chain payments.
• Token Incentives: Providing users with token rewards and cryptocurrency-based participation incentives can increase user retention, engagement, and long-term loyalty.

In summary, Moonshot’s success highlights the importance of innovative incentive design, strong influencer (KOL) support, convenient use of crypto payment solutions, and authentic community engagement to drive sustainable growth. By combining these strategies, emerging projects can replicate (and perhaps even exceed) the rapid expansion seen in this case study, further enriching the broader Web3 landscape.