Creating a video about GMX with DeFi Teller

Proposal summary

GMX Protocol is a unique project and undoubtedly one of the key players in DeFi but surprisingly, but surprisingly we were unable to find any high-quality video content about the platform. The existing videos either mention GMX along with other protocols or describe the UI of the dapp and repeat common descriptions of the platform. We will be happy to fill this gap.

Since the protocol is quite complex in its design, and its core concepts are not easy to grasp for newcomers to the field, we propose to make a detailed video about how GMX Protocol works and dig deeper into the logic of the project. Using original illustrations we would like to explain in simple terms what is behind the multi-asset pool, how it supports dynamic pricing, dig into how the shared liquidity mechanism leverages trading on the platform, get into GLP minting and redeeming process, explain what is the utility of GMX token and much more.

Who we are:

DeFi Teller is an educational resource that does the due diligence for the user by providing information about blockchain technology and decentralized applications (reviews, video explainers, on-chain data) in the most accessible way.

What we are good at:

Writing scripts targeted at an audience with an average level of knowledge in blockchain. We target people who have a basic understanding of how blockchain works, as well as a cursory understanding of the crypto market and its key players. Our viewer has probably already used dApps on the simple purchasing/trading/borrowing/staking level. Our task is to immerse this user deeper and explain in simple words what technology stands behind a particular project. In doing so, we take the presentation format very seriously and try to dig deep, figuring out what is under the hood of technologies and projects and what exactly makes them special. For example, this is how we explained what rollups are: What are Еthereum Rollups and How Do They Work? Rollups Explained in Simple Terms - YouTube

Creating distinctive visuals. The DeFi Teller team uses only original illustrations and takes a thoughtful approach to the process of video storyboarding. Our team of illustrators and animators works tightly with the editorial team, and the team of the project we’re reviewing.

Process:

The existing DeFi Teller videos were created by us with our own funds and were highly praised by the teams of the projects we were talking about. For example, the Polkadot video was added to the welcome pages of the Polkadot and Kusama documentation.

Further, we see our development in line with the spirit of decentralization - we would like to continue to talk about the most interesting DeFi projects and do so with nice graphics and quality scripts. We’re not looking for profits coming directly from the teams, nor are we looking to create entirely commercial videos, reserving the right to choose the topics and angle of their coverage. All we need is to cover the cost of the video and support us in distributing the content (retweets, adding to documentation, and so forth).

The video creation process is as follows:

-Writing script;

-Creating storyboard;

-Recording voice-over;

-Animating the video;

-Publishing the video on DeFi Teller resources

Timeline:

The timeline of the video depends on its budget. Without expanding the design team, and given that edits and comments from the team will be provided promptly, we can produce one video in about 3-4 weeks.

We will need:

1 week to create and edit the script (two editors involved, 4hours a day each);

1 week for designing the storyboard (three design team members involved, 3-4 hours a day each);

1-2 weeks for the animation (two design team members involved, 5 hours a day each).

This is a preliminary estimate, the final estimate depends heavily on the script.

How will it bring value to the GMX Protocol:

-Illustrate the architecture of the protocol;

-Illustrate use cases of the project;

-Attract a new audience (the video will be published on all DeFi Teller resources, giving GMX exposure to a new audience);

-A branding tool that will show the existence of high-quality content about the project.

Input expected from the GMX team:

  1. The team/community reviews the script and gives notes;

  2. The team/community reviews the storyboard and gives notes;

  3. The team/community reviews the final draft of the video and gives notes;

  4. Help in promoting the video (e.g. on social media or in the project documentation).

  5. Cover the cost of video production.

Budget:

Our team will be able to give you an accurate estimate of the budget only after the script is approved since most of the cost of the video falls on the work of the illustrators and animators. A rough estimate is that on average one minute of video costs us $1,000.

The approximate cost of the final amount in percentage ratio looks like this:

Script

Writer - 5%

Editor - 7%

Storyboard

Illustrator - 25%

Designer - 16%

Supervisor - 7%

Animation

Designer - 30%

Supervisor - 10%

5 Likes

hi, thank you for this proposal, we will include it in today’s update so that we can get more feedback on this

2 Likes

Hi Camille_a!

This is an idea we were tossing around the last few weeks and were going to take to gov.

The initial idea is to make video tutorials about the cards on the Earn page. Not so much so strong on animations, but mostly on showing the basics of GMX and how to use the UI, although animations can also be included, of course.

I had these videos in mind while linking them directly from the front end:

  • What is GMX?
  • How do rewards work?
  • What is GLP?
  • What is escrowed GMX?
  • What are MPs?
  • How do Vaults work?
  • How do Referrals work?

I believe they can be 1-2 minutes videos.

With this in mind, would you be able to give us more details on how you would approach it?

5 Likes

I’m totally up for this, but probably do this after synths. afaik there’s so much stuff on the pipeline that the UI/UX will be changing frequently in the next few months

6 Likes

First / Thankyou! - Agree, - I feel it is excellent and pending scope Educational is top priority but with Synth’s launching, would it become out-dated ? ( too-quickly ? ) It is well- needed / - Suggestion / - Could… the video broaden too a Synth’s segment … + 15 second(s) animation ? - *Never-the-less regardless, / The proposals role too in-aid viewer/public conciseness is well needed !! :heart_eyes:

1 Like

Hi! Defi Teller team,
If you can do a video explaining how to trade on gmx.io, I will personally pay for it if you include my referral code.

  1. why trading onchain is better than on CEX
  2. Explain how to do up to x30 leverage, what are the metamask steps needed etc
  3. the collateral required, and how ETH/BTC price is locked when you trade, so they need not worry when the collateral price drops
  4. what are the fees involved, the gas as well.

Add in my referral link, and I will pay for this video out of my own pocket (though i have to say your budget of $1000 per min seems a little steep, given that the videos are so low. Pay GMX some fees for
a few tweets by GMX community will skyrocket your views.)

do text me at @wiseoftheday telegram if this is doable

2 Likes

Thank you! I think it is a good idea to split the topic into several videos rather than fitting several complex concepts into one long video.

Speaking of the video production process, it’s quite typical and you can be involved to the extent you deem reasonable.

First, our team will prepare the script, which you can also review and make factual changes if necessary. If you have any articles or additional materials that we would not be able to find in the official documentation of the project, we would be happy to take them.

Next, the team of illustrators will develop the storyboard, which we will also definitely show you. And then, the animation work begins and we can share versions as we go or show you the final version before it is published. It’s up to you to choose.

Throughout the whole process, we’ll stay in close touch with your team and consider all suggestions and comments. We also try to make the video sound less promotional and more educational, considering only the real facts and achievements of the team. We try to get away from reciting PR materials about projects and really get to the heart of what makes a project or technology successful.

2 Likes

In this case, I believe it would be more reasonable to wait till Synth is launched. :slightly_smiling_face:

Concise summary

We offer you to make a detailed video explainer about GMX Protocol describing in simple words its most important components. We would be happy to not just say that GMX offers advantageous terms but to explain why and reveal the logic behind the protocol architecture.

Our goal is to make DeFi education accessible and comprehensible to everyone, and make learning easy and more popular, while shifting the paradigm from “what coin to buy to make money (and what buttons to press to do that)” and motivating new users to learn the technology behind DeFi projects.

From your side, in addition to involving the team and community in reviewing the script and storyboard, we will need your help in covering the cost of video production and promoting the video (e.g. on social media or in the project documentation).

2 Likes

Thank you for your response.

As mentioned, I don’t think we need an animated video like the first one you posted explaining the GMX Protocol as a whole, but more like short video guides using the UI with the mentioned topics. We could animate the cursor and navigation, so it doesn’t look exactly like a simple screen record.

I am not sure if that’s something DeFi Teller would be up to work on.

2 Likes

I believe that a tutorial video like that could drive adoption from new users.