Ventuals, a platform incubated by Paradigm, has announced its initiative to enable pre-IPO trading of private company shares on Hyperliquid, a high-performance Layer 1 blockchain designed for decentralized finance (DeFi).

This move aims to democratize access to a multi-trillion-dollar asset class traditionally reserved for institutional investors and venture capitalists, allowing retail investors to trade perpetual futures (perps) on private companies like OpenAI, SpaceX, and Stripe before their initial public offerings (IPOs).

Ventuals leverages Hyperliquid’s HIP-3 standard (Builder Deployed Perpetuals) to create custom perpetual contract markets, utilizing a proprietary pricing mechanism called an “optimistic oracle.” This system allows anyone to submit a valuation and stake collateral, with disputes resolved through a challenge-and-vote process, transforming off-chain consensus into on-chain pricing.

The platform addresses the challenge of pricing private equities, which lack public market data, by blending off-chain data feeds with an exponential moving average (EMA) of the perp’s mark price, ensuring price discovery while tethering valuations to real secondary market transactions.

This initiative aligns with Hyperliquid’s broader mission to break the information asymmetry and price suppression often seen in traditional IPOs, where investment banks underprice shares to benefit institutional clients. By enabling pre-IPO trading, Ventuals and Hyperliquid aim to create transparent, open markets that reduce arbitrage opportunities for insiders and allow retail investors to participate in the growth of high-potential startups.

For example, trading on Ventuals reportedly allowed investors to go long on Circle at a $7 billion valuation before its IPO, yielding up to 240% returns compared to 55% at the IPO’s $15.5 billion opening valuation. However, pre-IPO trading carries significant risks, including information asymmetry, company failure, and regulatory hurdles like SEC restrictions and lock-up periods.

Ventuals’ approach, built on Hyperliquid’s infrastructure with sub-second latency and capacity for 100,000 orders per second, aims to mitigate some of these risks through transparency and high-frequency trading capabilities. The platform’s founders, Alvin and Emily Hsia, previously built Shadow, a project focused on efficient on-chain data extraction.

This development could redefine private market access, potentially positioning Ventuals as a transformative force in DeFi and capital markets, though its success will depend on navigating regulatory complexities and maintaining robust pricing mechanisms.

By allowing retail investors to trade perpetual futures on private companies like OpenAI or SpaceX, Ventuals breaks down barriers to an asset class historically reserved for venture capitalists and institutional investors. This could expand wealth-building opportunities for a broader audience.

Traditional IPOs often favor insiders who benefit from underpriced shares. Transparent pricing on Hyperliquid’s blockchain, driven by Ventuals’ optimistic oracle, could level the playing field, giving retail investors access to valuations closer to fair market value.

Private company shares are typically illiquid, with long lock-up periods. Ventuals’ perpetual futures markets create synthetic liquidity, allowing investors to trade exposure to these assets without owning the underlying shares, potentially attracting more capital to private markets.

The optimistic oracle and Hyperliquid’s infrastructure provide a novel mechanism for pricing illiquid private equities. By combining off-chain data and on-chain mark prices, Ventuals could set a precedent for valuing private assets in a transparent, decentralized manner.

If pre-IPO trading gains traction, investment banks may face pressure to reform IPO pricing practices, as retail investors could bypass underpriced offerings and capture value earlier, reducing arbitrage opportunities for institutional players.

Advancement of DeFi and Blockchain Technology

Hyperliquid’s high-performance blockchain, with sub-second latency and 100,000 orders per second, demonstrates its ability to handle complex financial instruments like pre-IPO perps. This could drive adoption of Hyperliquid as a go-to platform for DeFi innovation.

Ventuals’ application of perpetual futures to private equities expands the scope of DeFi, showing that blockchain-based derivatives can represent real-world assets beyond cryptocurrencies or commodities. The optimistic oracle model, with its stake-and-challenge mechanism, could inspire similar pricing systems for other illiquid or hard-to-value assets.

By enabling broader access to high-growth private companies, Ventuals could contribute to reducing wealth inequality, though this depends on retail investors’ ability to manage risks and access the platform. Normalizing pre-IPO trading could shift how society views startup investing, encouraging earlier retail participation in innovation-driven companies but also potentially fueling speculative bubbles.

Increased liquidity and visibility through pre-IPO trading could make private companies more attractive to investors, potentially lowering their cost of capital and accelerating growth, though it may also pressure founders to prioritize short-term valuations over long-term strategy.

However, its success hinges on overcoming regulatory hurdles, ensuring robust pricing mechanisms, and managing the inherent risks of private market investments. If executed well, this could catalyze a broader shift toward decentralized, transparent capital markets, with ripple effects across startups, investors, and financial institutions.

Introduction

In 2025, static crypto banner ads face a growing challenge: community users are becoming less responsive to traditional display formats. The crypto audience now gravitates toward dynamic content that combines visual movement, audio elements, and immediate emotional impact. Video advertising addresses this shift, with platforms like Telegram emerging as particularly effective channels for crypto marketers. This strategic move to video formats can increase engagement, improve CTR, and reduce cost per lead.

Why Telegram Video Banners Outperform Static Ads

Consider a typical scenario: you launch a campaign for your crypto project, select a major advertising platform, create a static banner, and pay for impressions, but the results fall short of expectations. A couple of clicks, zero engagement. In 2025, more and more projects come to the conclusion: classic crypto banner ads no longer work as they used to. Telegram with its video format offers a completely different approach — and here’s why.

Telegram is a digital home for the crypto community today. From trading groups to NFT communities, from traders to startups — it’s all here. This means that your advertising message won’t get lost among the wrong audience, as it happens on Facebook or X (Twitter).

Crypto-friendly policy for crypto advertisers

Telegram Ads allows you to launch crypto project ads faster and more flexibly. With minimal restrictions and a Web3-friendly content policy, the platform is especially convenient for promoting DeFi products, tokens, and airdrop campaigns — formats that often face restrictions on other platforms.

However, it is important to note: Telegram prohibits advertising of unlicensed securities, gambling in restricted jurisdictions, and misleading token sales. All advertising campaigns undergo automatic and manual verification, which helps maintain a balance between freedom of placement and a responsible approach to content quality.

Telegram Ads Integration with Telegram bots

A unique advantage: the ability to immediately lead the user from a video banner to a bot that collects applications, subscriptions or even conducts KYC. This significantly reduces the funnel and increases conversion.

Crypto Banner Ads: Video Banner vs. Static

• Engagement: 3 times higher. Projects that have switched to Telegram video banners see a threefold increase in completed views compared to regular static banners. And this is exactly what a crypto project needs: for the user to see, understand and click;
• CTR up to 2.1% vs 0.7%. If 1 out of 150 people clicked on your static banner, it was considered “normal”. But with video, the numbers are different: on average, 1 out of 50 users click on a video banner. A CTR of 2.1% for crypto is a very high result;
• Viewing time — 6–8 seconds. Telegram users tend to engage more actively with content, not just scroll. And unlike YouTube, you don’t need to hold attention for half a minute: 8 seconds is ideal to convey the essence, show the logo and give a call to action.

Quick calculation of crypto ad networks’ efficiency

At first glance, it may seem that video advertising in Telegram is more expensive — CPM (cost per thousand mille) is indeed higher compared to static. But here’s the thing: the video format attracts more attention, provides a higher CTR and, as a result, reduces the cost of each click and lead.

For comparison: static banners cost about $4.50 per thousand impressions on average, and clicks on them cost $0.32. Telegram video banners are slightly more expensive in terms of CPM — about $6.20, but due to higher engagement, the cost per click drops almost in half — to $0.18.

This means that with the same budget, you get not only more clicks, but also higher-quality interactions. In cases with crypto and DeFi projects, a decrease in the cost of one lead by about 25-30% is also recorded.

Bottom line: you pay a little more for impressions, but significantly less for the result. And in the world of crypto marketing, it’s the results that matter.

How to Create a High-Impact Telegram Video Banner

When you launch crypto banner ads in Telegram, especially in video format, you have only a few seconds to hook the user. A good banner works like a movie trailer: it shows the essence, evokes emotions and pushes to action. To achieve this, it is important to consider both technical parameters and the peculiarities of perception of the crypto audience.

Before you start creating a banner ad, make sure your video file meets Telegram advertising standards. The platform only accepts certain formats and parameters:

• Duration: from 6 to 15 seconds. This is enough to convey the idea – and not tire;
• File size: no more than 5MB. Telegram is a mobile platform, loading speed is important;
• Format: MP4 with the H.264 codec – the most compatible format for all devices.

Such parameters allow video banners not only to be displayed correctly, but also to load as quickly as possible – even in conditions of unstable mobile Internet. Try to keep it within 10-12 seconds – this is the “sweet spot” of a Telegram user. More – the risk of skipping, less – the idea may not have time to unfold.

Video Banner: ad formats’ design for crypto audience

User behavior on Telegram differs from entertainment-focused platforms such as TikTok and Instagram. Telegram’s user base tends to engage with content that provides direct information and clear calls-to-action, particularly in professional and financial contexts. In crypto advertising specifically, where regulatory compliance and clear value propositions are critical, this translates to a preference for straightforward messaging over elaborate visual effects. Banner creatives should therefore emphasize clarity and concise messaging rather than complex animations or effects.

Clarity

In Telegram, you literally have a couple of seconds to hold attention. From the first frames, it should be clear: what kind of project it is, why it is interesting, and why you should watch further. Start with a logo, a short offer (“NFT without commission”, “DeFi without blocking”), or a strong visual hook. 

In practice: the most effective video banner is one that is understandable without sound and even without explanatory text. Mobile users often watch with the sound off.

Branding

For video banners in Telegram, it is recommended to use brand colors, fonts, interface graphics or tokenomics elements to make it easier for the viewer to identify the project and remember its visual style.

It also makes sense to place the logo or brand name twice – at the beginning and at the end of the video. According to LinkedIn research, such a structure can increase brand memorability when watching cryptocurrency videos in Telegram by about 40%.

Call-to-action (CTA)

Each video should end with a clear call-to-action. No general “find out more”. Telegram is about actions here and now. Your CTA should explain: what the user will get and what is required of him.

Examples of working CTAs for telegram ads:

• “Get an airdrop before August 2”;
• “Invest in IDO – 48 hours left”;
• “Launch a DeFi bot in 30 seconds”

Without a clear call to action, even the highest quality banner will remain just a pretty picture. And our task is to engage and convert, not to impress.

Telegram vs. Other platforms

Another advantage of telegram video banners is that they do not compete with other formats, like on YouTube or X. In Telegram, the banner is built into the usual user flow: in the channel, in the post, in the feed. This makes it a soft but noticeable implementation. The user does not feel intrusive – but sees your project.

Mini-checklist before launching the banner:

• Fit in 15 seconds and <5MB;
• The video is understandable without sound;
• There is a logo at the beginning and at the end;
• There is a strong CTA;
• Brand colors and fonts are observed;
• Tested on a mobile screen.

Telegram is not just a channel for placing telegram ads. This is a place where your crypto advertising can come to life. And if your video banner is done correctly, it will not just appear to the user, it will remain in his head. And this is the main goal of an effective campaign.

In the next section, we’ll look at how to launch such a campaign step by step – from budget to scaling.

Launching Your First Campaign: A 5-Step Checklist

Are you ready to launch crypto banner ads via Telegram? Great. Telegram today is not just a messenger, but a full-fledged platform for crypto advertising, where you can scale a project from the first 100 clicks to a global community. But in order not to waste your budget on tests, it is important to build the first launch correctly.

Here is a 5-step checklist, tested by dozens of projects – from NFT startups to DeFi platforms.

Targeting settings that really work for self serve campaigns

Telegram advertising offers a flexible system for setting up audiences: geography, language, interests. But in crypto niches, the main thing is not coverage, but accuracy.

Recommendations:

Geo: start with the top 5 crypto-friendly locations (for example, Lithuania, Singapore, Switzerland, UAE, Turkey);

Language: if the budget is limited, launch in English. Localization makes sense when scaling;

Interests: Telegram channels with a focus on DeFi, DEX, IDO, NFT, and crypto trading work better than general audiences;

Practical advice: test Telegram ads in niche channels, not in news aggregators – higher engagement, lower CPC.

Mini-budget for launch

The first launch is not about scale, but about data. Even with $10 per day, you can get hundreds of impressions, evaluate the CTR, and understand how your banner works.

What to track at the first stage:

• CTR (below 1% is a signal that the creative or targeting did not work);
• CPM (no higher than $7–8 for Telegram video banners);
• Interaction time and conversion to a bot or landing page.

Goal: find a working combo of banner, audience and platform, and not “blow up” metrics from day one.

A/B testing

In 2–3 days, you will have enough data to make decisions. The main rule: never test one option.

For banner ad creation on Telegram, two A/B testing scenarios are relevant:

• Different HOKI (start of video: visual hook or thesis);
• Different CTA (for example, “Get airdrop” vs. “Pass KYC and get a bonus”).

Telegram video banners allow you to quickly change the creative without completely rebooting the campaign – this saves both time and budget.

Mandatory disclaimers & legal tags

Crypto ads are a high-risk area, especially in 2025. Regulators are watching, and Telegram doesn’t want problems either. Even if your ad is approved, without the necessary disclaimers, you risk losing the trust of the audience.

Be sure to specify:

• “Not a financial recommendation”;
• “Risks of loss, DYOR” (Do Your Own Research);
• In airdrop campaigns — conditions of participation and end dates.

Telegram banner advertising can be flexible, but your responsibility is the legal and reputational protection of the project.

Scale the winners & turn off weak links

After 5-7 days of testing, you will have a clear understanding of what works:

• If the CTR is above 1.5% — scale the campaign and transfer the budget there;
• If the CPC is below $0.25 — hold and strengthen;
• If the conversion to the bot is >10% — link Retargeting via built-in Telegram bots (more details in the LinkedIn guide).

Anything that does not bring results is turned off without regret. In crypto, the winner is not the one who spends more, but the one who scales the effective faster than others.

Telegram is the ideal platform for launching crypto banner ads: high engagement, native format, friendliness to blockchain projects:

• Use Telegram video banners as a tool not for coverage, but for the funnel: from attention to action;
• Follow step by step, do not jump to scaling before A/B testing;
• The main thing is not to be afraid to launch quickly and adjust along the way;

Real-World Snapshot: How PancakeSwap Boosted Its Funnel Through Video Banners on Telegram

PancakeSwap is one of the leaders of DeFi on BNB Smart Chain with an active audience on Telegram. In June 2025, the project team tested the Telegram video banners format instead of the previous static crypto banner ads. Here’s what happened in the first 7 days of the campaign.

Campaign goal

• Attract new users to the Telegram bot for farming LP tokens;
• Collect applications for participation in an exclusive airdrop;
• Increase awareness of new features (v3 Pool Boost).

Video campaign parameters

• Video length: 10 seconds (showing the farming interface + CTA);
• Format: MP4, <5MB;
• CTA: “Claim your airdrop before July 10”.

Results after switching to video banners

• CTR increased to 2.3% (versus 0.75% static);
• CPC decreased to $0.17 (versus $0.31);
• CPL dropped by 28% (from $2.80 to ~$2.00).

Why it worked on PancakeSwap

• Live interface: users saw the real process of farming LP tokens right in the banner – this immediately generated trust and interest;
• Clear CTA: the airdrop announcement with a deadline of “until July 10” created a sense of urgency and pushed for a click;
• Optimization for a mobile screen: the video was tested on different resolutions to avoid “cut” buttons.

Insight from the PancakeSwap marketing team: “Video banners gave us not just more clicks, but higher-quality traffic — users immediately went to the bot and completed the actions.”

Practical conclusions for your project

• PancakeSwap has proven that even for a large DeFi player, switching to Telegram video banners can instantly improve key metrics;
• Banner ad creation with a real product interface increases trust and “warmth” of the lead;
• A clear deadline in the CTA enhances the effect of urgency and pushes for a click at the moment of display.

Telegram remains a unique platform for crypto advertising, where the video format is not lost in the flow of images, but works for your brand and conversion. If PancakeSwap can do it, so can you — the main thing is to follow a proven checklist.

Quick Pitfalls to Avoid

When launching crypto banner ads on Telegram, newbies (and even experienced marketers) often make the same mistakes. Here are three of the most critical:

• Overloaded visuals — flashing graphics, complex metaphors and “everything at once” on the screen reduce perception by 40%+. Telegram video banners should be simple and focused;
• No subtitles — up to 85% of users watch telegram ads without sound. Not adding captions — you’ve lost the audience’s attention;
• Ignoring mobile framing — most telegram banner ads are viewed on smartphones. If key elements are cut off or “go” beyond the boundaries — you’re simply wasting traffic.

Solution: test banners on mobile devices, keep the composition clean and always include subtitles.

Conclusion 

Classic crypto banner ads are losing their effectiveness. The audience is tired of static. Telegram offers a fresh, native and engaging format — video banners.

The combination of high engagement, crypto-friendly moderation and flexible settings gives Telegram advertising a unique advantage for crypto advertising and DeFi projects.

Telegram video banners are already showing:

• CTR up to 2.1%;
• CPC from $0.18;
• CPL is 25% lower than static.

This is not just a change in format. This is a strategic shift in how telegram ads work in 2025.

Telegram video banners are becoming a new standard in crypto advertising. If you are looking for a reliable partner to launch such campaigns, Cointraffic offers a full stack of solutions: from creative and placement to tracking and scaling. Today, the platform is already chosen by dozens of DeFi and Web3 projects around the world.