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Dash Nigeria: BizDev, Merchants & Importers Feb-April 2019

Discussion in 'Pre + Budget Proposal Discussions' started by Nathaniel Luz, Jan 8, 2019.

  1. Nathaniel Luz

    Nathaniel Luz Member

    Joined:
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    Dash Address:
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    Recently successfully completed milestones


    1. Over 70 merchants now accepting Dash in Nigeria

    2. Recent press coverage:

    Charities in Nigeria and Germany Utilize Dash for Market Appeal and Security

    Dash Nigeria Increases Merchant and Exchange Integrations

    Dash Expands Liquidity in Nigeria As Presidential Candidate Promises Regulations



    3. Qualymart e-commerce in Nigeria offers 20% discount for paying in $Dash in collaboration with Dash Nigeria. As we draw close to the year celebrating the yuletide(like Christmas in Nigeria) season you can take advantage of their end of year promotions by purchasing one of their watches for yourself or someone dear to you. A special 20% discount awaits those who place orders paying with Dash. Visit: https://qualymart.ng. This is one of the achievements of the Dash Nigeria Business Development Team. Important notice: the Dash Nigeria budget is not subsidizing this rebate.

    4. Tehlex.com exchange now trades Dash.

    5. Yellowcard.io has Dash integrated.

    6. Cryptostorez.com overs a 10% discount paying with Dash.

    7. Dash in Kurepay Wallet


    Table of Contents

    Executive Summary

    Prior Proposal

    Proposal Scope January + February 2019

    Budget Breakdown


    Executive Summary

    Since the approval of our currently active Dash adoption strategy proposal we have validated market demand for Dash in Nigeria. We have found above average interest for Dash integrations throughout the Nigerian enterprise and small merchant landscape as well as the local cryptocurrency infrastructure. Even though we had only ⅔ of the planned budget to our disposal we’re still expecting to fulfill our 8/80 integrations in November and December promise towards the Dash network. Due to the current market environment we decided to limit our spending to maintaining the team and essential expenses only during our next proposal period. We propose to onboard 8 large integrations and 80 small merchants again during January and February of 2019. Moreover we propose to do a merchant networking event which will lead to synergies between merchants, low cost growth opportunities and allows us to save merchant retention costs under these market conditions. We remain committed to advancing Nigeria to be a major growth market for Dash following in the footsteps of Venezuela and Colombia over the short term future.


    Prior Proposal

    During our ongoing operations we have managed to complete 3 large Dash integrations consisting of:

    Kurecoinhub.com: Offers a wide array of cryptocurrency services for Dash holders such as buying, selling, interest payments on holdings and Dash backed loans.

    E-esusu.ng: Offers safe investment and savings services for the unbanked Nigerian population. The service is of high popularity and operates throughout the country. Because of our work Dash is the first and only cryptocurrency on the platform.

    Tehlex.com: Cryptocurrency exchange. Offers Dash as the fourth supported coin.

    Yellowcard.io: Easy to access gift-card based on-boarding solution. Especially interested for the unbanked population which cannot use regular online exchanges.

    Kurepay.com: Multinational provider of a cryptocurrency payments gateway, e-wallet and cryptocurrency card.


    The following integrations are scheduled to be completed:


    Coinbarter.co: No Signup, KYC instant crypto/fiat conversion service.

    Paylot.co: Bitpay like service for Nigeria. Provides instant settlement options for risk averse merchants. They will accelerate establishing a strong Dash merchant base in Nigeria.

    Bitfxt.com: Multinational African crypto/fiat exchange. Will offer Dash as their third cryptocurrency.

    Bitmama.io: Nigeria focused cryptocurrency exchange. It will integrate Dash as their forth cryptocurrency.

    Xendbit.com: Upcoming semi-decentralized exchange, also offering centralized fiat on-ramp and credit options.

    Bitpesa.com: No. 1 cryptocurrency based remittance service worldwide

    Taxify.eu: One of the top 5 ride-sharing services worldwide. It has achieved market dominance throughout Africa and east Europe. Sees Nigeria as a test case for platform-wide Dash integration. We’re especially excited about this integration. This is a big one.


    We have also attended the African Fintech Festival to generate new integration leads. We’re working with them to establish an integration timeline. We will keep you informed as details emerge.


    Moreover we have on-boarded over 70 merchants for the months of November and December. They are listed on discoverdash.com.


    We also finished our new website where interested businesses and consumers can learn about us, Dash and reach out in case they have any questions.


    Even though the Dash price collapsed by ⅔ since proposal creation we’ve managed to stay operational without significant cutbacks. However due to salary commitments I had to cover some costs myself. I hope the dash network continues to appreciate the results we’re achieving and supports recovering these operating expenses during our next proposal period.


    Proposal Scope February - April 2019

    We’re currently working with our integrations pipeline to make Nigeria one of Dash's main growth markets. Yet we recognize the current tensions in the treasury budget. Therefore we decided to limit our costs to a bare minimum in order to sustain current operations only.

    1. For this reasons we plan to again onboard 3 large integrations and 40 small merchants monthly from February till April. Due to our momentum which we’re starting to pick up and social proof we’re gaining in the merchant base of Lagos securing integrations and merchant sign ups is increasingly becoming easier. However we’d rather only promise the same scope in case the market drops further at which point we would need to take appropriate measurements in order to stay solvent. We’re constantly replenishing our integrations pipeline and will update the proposal throughout December as details emerge.


    2. Get Nigerian importers to pay with Dash. We have approached some major car dealers in Nigeria and enlighten them about Dash. They would be present at the event we propose in (3) below. We are particularly excited about this because the average automobile dealer imports 10 vehicles monthly at rates of $3,000 to $12,000 (ranging from cars to trucks, and heavy duty vehicles) each. That would see about between $30,000 to $120,000 monthly orders per merchant paid in Dash. Imagine onboarding a minimum of 5 of these merchants monthly. That’s hundreds of thousands of dollars transacted in Dash.


    3. We also propose to organize a merchant networking event. We target 100-150 participants consisting of our Dash merchants, interested new merchants and our sales staff. This serves multiple purposes in this budget environment. For one it lets us save merchant retention costs we’d otherwise incur in our bootstrapping phase. Secondly it allows us to generate cheap leads and sales of interested, not yet integrated businesses. Thirdly it provides us the opportunity to go for supply chain Dash integrations otherwise not possible in 1 to 1 merchant interactions. Fourthly, it’s a meeting point for us to meet with merchants in (2) above and troubleshoot any issues they might be having.


    This event would hold twice in 3 months.


    Budget Breakdown

    Total: 91 Dash for 3 months


    See detailed budget here:
     
    #1 Nathaniel Luz, Jan 8, 2019
    Last edited: Jan 8, 2019

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