Proposal “LegalOpinionKPIBizDevPRDashNigeria“ (Active)Back

Title:Legal Opinion, KPI Tracking, Biz Dev, PR, Support - Dash Nigeria
Owner:Nathanielluz
Monthly amount: 68 DASH (6625 USD)
Completed payments: no payments occurred yet (3 month remaining)
Payment start/end: 2021-01-12 / 2021-04-12 (added on 2021-01-11)
Final voting deadline: in passed
Votes: 652 Yes / 222 No / 57 Abstain
Will be funded: No. This proposal needs additional 56 Yes votes to become funded.
Manually vote on this proposal (DashCore - Tools - Debugconsole):
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Proposal description

Legal Opinion, KPI Tracking, Biz Dev, PR - Dash Nigeria
February - April 2021

Table of Contents
  1. Update on Proposal Scope and KPI Tracking
  2. Proposal Scope
  3. Previous Results
  4. Why Vote Yes?
  5. Budget

1. Update on Dash Nigeria Proposal Scope and KPI Tracking

Dash’s availability on exchanges, payment gateways, remittance platforms, and other businesses in Nigeria stand threatened by the misconception that Dash is a ‘privacy coin’. A clear example of this is that a partner exchange Roqqu (https://roqqu.com/) scheduled to launch Dash in the first week of the year paused the launch due to the Bittrex announcement https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21. We believe it is now pertinent to complete the Legal Opinion on Dash in Nigeria we started.  We are working with Infusion Lawyers to develop a legal opinion that will aid Dash’s classification as a utility coin in Nigeria. This is very important, especially given the Statement by the SEC Nigeria On Digital Assets And Their Classification And Treatment https://sec.gov.ng/statement-on-digital-assets-and-their-classification-and-treatment/. This is very important as it guarantees the continuous availability of Dash on Nigerian exchanges and businesses.

We’ve gathered from feedback received over our previous failed proposal to make the volume of Dash transactions on Dash supported platforms in Nigeria publicly available. To this end, we are launching a page that will contain the stats requested. The stats that will have various exchanges and volumes, data on remittance carried out successfully using Dash, etc. and the page will be available at https://dashnigeria.com/stats.

We have completed the technical integration of Dash into the following and will be launching them within this proposal:
  • Roqqu https://roqqu.com/ - A tier 1 Nigerian exchange with Dash integration on both web and mobile platforms
  • Cryptofully https://cryptofully.com - A remittance platform supporting only Dash and bitcoin on web and mobile platforms
  • Fliqpay https://fliqpay.com - A cross-border payments infrastructure for global businesses that enables financial institutions, fintech and international companies to make and receive international payments in multiple currencies securely

We will be rolling out a promotional campaign with Coinprofile and Cryptofully to enable users to win an amount of Dash after using Dash for remittances. For instance, users can win X amount of Dash after sending Y amount Dash in remittances. Dashwatch will verify data before we upload it on https://dashnigeria.com/stats.

Our Dash Africa Desk has been highly successful, earning us media coverage in top tier media platforms such as Cointelegraph, Bitcoinnews, BitcoinKE and others. We will be scaling this up increasing the press features of Dash going forward. We'll continue providing support for Dash users, merchants and partners and social media activities. 

Nigeria is the only country in the world where you can send Dash to a bank account! See how in this video:



2. Proposal Scope:

During this proposal, we will primarily focus on the following listed in this order of priority:
  1. Legal Opinion on Dash in Nigeria
  2. Remittances + KPI Tracking
  3. Business Development and Integrations + KPI Tracking
  4. Dash Africa Desk - Marketing, PR & Support
  5. General Dash Adoption 

A.   Legal Opinion on Dash in Nigeria:

Dash’s availability on exchanges, payment gateways, remittance platforms, and other businesses in Nigeria stand threatened by the misconception that Dash is a ‘privacy coin’. A clear example of this is that a partner exchange Roqqu (https://roqqu.com/) scheduled to launch Dash in the first week of the year paused the launch due to the Bittrex announcement https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21. We believe it is now pertinent to complete the Legal Opinion on Dash in Nigeria we started.  We are working with Infusion Lawyers to develop a legal opinion that will aid Dash’s classification as a utility coin in Nigeria. This is very important, especially given the Statement by the SEC Nigeria On Digital Assets And Their Classification And Treatment https://sec.gov.ng/statement-on-digital-assets-and-their-classification-and-treatment/. This is very important as it guarantees the continuous availability of Dash on Nigerian exchanges and businesses.

B.   Remittances, Cross Border Payments + KPI Tracking: 
Using Dash for sending remittances to Nigeria is easier than ever since our listing of Dash on https://coinprofile.co. We have also integrated Dash into https://cryptofully.com and will be launching this within the course of this proposal, thereby exposing another set of remittance senders to Dash.

Another of our partners, Fliqpay, is a cross-border payments infrastructure for global businesses that enables financial institutions, fintech and multinational companies to make and receive international payments in multiple currencies securely using Dash.

We will be rolling out a promotional campaign with Coinprofile and Cryptofully to enable users to win an amount of Dash after using Dash for remittances. For instance, users can win X amount of Dash after sending Y amount Dash in remittances. Dashwatch will verify data before we upload it on https://dashnigeria.com/stats.

According to the Central Bank of Nigeria (CBN), in 2019, remittances flowing in and out of the country stood at $25.3 billion, making it the second-largest source of foreign exchange for the government, after oil of course. But sending money in and out of Nigeria is a lengthy chore. Cross-border transactions are riddled with many frictions that exclude Nigerians from parts of the global financial system. Although sending money to Nigeria is fraught with costs, getting money out of the country is a more significant challenge. We are all too familiar with the central bank’s limits on dollar transfers and spending abroad—Ecobank (a Nigerian bank) has a $20 monthly international card payment limit. https://www.stearsng.com/premium/article/cross-border-payments-in-nigeria-are-we-there-yet. This tells of the potential size of the market available for us to capture, and that is what we are unto.

C.   Business Development and Integrations + KPI Tracking:

We have completed the technical integration of Dash into the following and will be launching them within the course of this proposal:
  • Roqqu https://roqqu.com/ - A tier 1 Nigerian exchange with Dash integration on both web and mobile platforms
  • Cryptofully https://cryptofully.com - A remittance platform supporting only Dash and bitcoin on web and mobile platforms
  • Fliqpay https://fliqpay.com - A cross-border payments infrastructure for global businesses that enables financial institutions, fintech and international companies to make and receive international payments in multiple currencies securely

We’ve gathered from feedback received over our previous failed proposal to make the volume of Dash transactions on Dash supported platforms in Nigeria publicly available. To this end, we are launching a page that will contain the stats requested. The stats that will have various exchanges and volumes, data on remittance carried out successfully using Dash, etc. and the page will be available at https://dashnigeria.com/stats.

We'll continue our business development activities, integrating Dash into exchanges, payment gateways and businesses that'll enable Dash use by users. We have a couple of new integrations that will be completed and launched in Q1 2021. We will also work on closing existing leads and replenishing our lead pipeline.

D.   Dash Africa Desk - Marketing, PR & Support:
Our Dash Africa Desk has been highly successful, earning us media coverage in top tier media platforms such as Cointelegraph, Bitcoinnews, BitcoinKE and others. We will be scaling this up increasing the press features of Dash going forward. A reliable marketing and support framework improves our offering to partners and onboarding new users to Dash.

Nathaniel Luz will be headlining the BLOCKCHAIN AFRICA CONFERENCE 2021 conference on March 18 https://blockchainafrica.co/speakers/nathaniel-luz/  this speaking slot costs $16,500, but we have gotten it for free and will be maximising the opportunity. 

E.   General Dash Adoption
Increased Dash marketing via social media platforms like Twitter, Telegram, WhatsApp, offering support to the Dash ecosystem in Nigeria and other promotional activities not covered in the scope of this proposal.

3. Previous Results

BizDev:
  • Dash integrated on Coinprofile, a tier 1 remittance platform.
  • Dash integrated on Quidax, a tier 1 crypto exchange offering Dash/NGN order book pair and instant Dash on/off-ramp.
  • Dash integrated on Fliqpay, a tier 1 cross-border payments platform.
  • Integrated Dash into Bitfxt, Naijacrypto, Kurepay exchanges

Speaking engagements:
  • Speaker at Defi Conference 2020. Presented Dash on a panel alongside Jonas Lamis - Founder and CEO at StakerDAO, Flora Sun - Managing Director of Binance X, moderated by Liam Kelly - Editorial Manager Crypto Briefing. Video of the session is here.
  • Nathaniel Luz headlined the Crypto Fest Conference, giving a Dash presentation alongside Ray Youssef, CEO of Paxful, Tone Vays, and several other industry leaders. https://cryptofest.co.za/speakers-2020/. Some results from the Defi conference are:
  • The Crypto Fest conference had 1288 attendees from 50+ countries represented.
  • A significant outcome of presenting at the Crypto Fest conference is that Nathaniel Luz will be headlining the BLOCKCHAIN AFRICA CONFERENCE 2021 conference on March 18 at the cost of $0 https://blockchainafrica.co/speakers/nathaniel-luz/.  
  • Participants were given Digital is the Cash ebook.
  • Recap of Crypto Fest 2020 by BitcoinKe - The Crypto Fest 2020: Here is a List of 5 Speakers at the Event with a Focus on Africa https://bitcoinke.io/2020/11/crypto-fest-2020-africa/ 
  • His presentation title is "Future of Payments: A Peer-to-Peer Electronic Cash System" and the session’s video is here.


Media:
Here are some of the interviews and publications we secured:
  1. Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions https://news.bitcoin.com/dash-nigeria-takes-digital-currency-education-campaign-to-regulators-and-key-institutions/.
  2. High Fees Make BTC Less Appealing for Remittances in Africa: 'Pray Blocks Happen Quickly' - Nathaniel Luz of Dash Nigeria interviewed https://news.bitcoin.com/high-network-fees-make-btc-less-appealing-for-remittances/
  3. Landed an earned media interview/ book review with Cointelegraph, a largest crypto media outlet in the world https://cointelegraph.com/news/book-review-digital-is-the-cash 
  4. BitcoinKe.io
The Crypto Fest 2020: Here is a List of 5 Speakers at the Event with a Focus on Africa https://bitcoinke.io/2020/11/crypto-fest-2020-africa/ 
  1. Next Phase of Crypto Industry Will Is Driven by Real-world Use & User Experience – Nathaniel Luz https://cryptotvplus.com/next-phase-of-crypto-industry-will-be-driven-by-real-world-use-user-experience-nathaniel-luz/amp/
  2. Featured in the BitcoinKe recap of the DeFi Conference 2020 https://bitcoinke.io/2020/08/watch-defi-africa-conference-2020/ 
  3. Coinprofile PR

  1. Naijapay PR


Education:
Learn with Dash: Nine videos in Pidgin English for learning and promoting Dash https://www.youtube.com/playlist?list=PL3vgzw56aHfa15tOVJrK4fV4DZxpOpCLD 

4. Why Vote YES?
Proven team:
We have been executing the proposed strategy already successfully for a couple of months. We have been able to increase all relevant metrics continuously: Integrations, merchants, users, transactions and have recently branched out into engaging media partners. We are also a part of Dash Co-Working (DCW).

Low cost:
We’re always among the cheapest teams in the category “General Dash adoption”. We believe in generating a high return on investment for the DAO and pushed to get even more cost-efficient.

Consistent adoption:
We don’t promise the pie in the sky. We don’t expect you to pay us for many months in advance. We work step by step, unlocking new Dash adoption along the way. Support us and continue to see ongoing results month over month.

Nigeria is hungry for Dash:
The success of campaigns such as the Digital Cash Awareness Drive shows that Nigeria is a receptive and fertile ground for Dash adoption. We’re introducing reliable payments, free “banking” infrastructure and economic cross border payments, capabilities that many Nigerians are experiencing for the first time, and reaping the corresponding strong results such as our active telegram group.

5. Budget breakdown
 67.67 Dash per month for three months

https://lh3.googleusercontent.com/azTz2qeJuyF3nNObT5OwxottnPfThPKryAlNOCdrIFz4XAIyJJCGkQV2KsKW6AsgSbg39gDd7WDdV6_T2KHJgzAih6ymg0Im19cjqyGYrrYR7mJczuPXvkjjP8cvJuQAj_hNDMgY



***end of proposal***

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Discussion: Should we fund this proposal?

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0 points,2 hours ago
New integration from Dash Nigeria

Nigeria’s first micro-investing platform, Trove, adds Dash

https://techcabal.com/2021/01/26/nigerias-first-micro-investing-platform-trove-adds-cryptocurrency-trading/
Reply
1 point,1 day ago
Debt Appeal Fund by Dash Nigeria

Being defunded for two months in a row while in deficit, we wish to open an appeal to clear up Dash Nigeria’s debts.

The debts breakdown is as follows:
Integrating Dash into Cryptofully remittance platform (https://cryptofully.com/) - $2,000
Integrating Dash into Roqqu exchange web and app (https://roqqu.com) - $2,000
A balance of $1,000 for the completion of the legal opinion on Dash in Nigeria
A previous deficit of -$2,343 (more details in our December Dash Watch report)
10 Dash spent on proposal fees for the last failed proposal and this one up for voting

They are totalling $7,343 and 10 Dash.

We appeal to you to help us cover our deficits; else, it will strain me as the one who got into the agreements and signings. We are receiving donations at the same address as our proposal here: XjA2Z53RjSz2xHSSk2fXoP1GN8ZZkvZoy8

We will keep up support for existing Dash partners, media and event appearances going forward at no cost.

Thank you.

Nathaniel Luz
Lead, Dash Nigeria
Reply
0 points,4 days ago
Hello, Dash community,

I was recently informed that it is not possible to vote on our proposal using the DMT as our proposal link doesn't appear correctly there. This is the wrong link that unfortunately appears on DMT. Kindly check out our proposal on DashCentral and DashNexus.

Thank you.
Reply
1 point,5 days ago
Are there any MNO's that voted NO on this proposal that would be comfortable explaining why you voted no?

I'd just like to understand your thought process, I promise it won't turn into an argument.
Reply
0 points,2 days ago
I'd like to see this too.
196 No votes and not a single explanation why, except that one-liner from lysergic below calling it "low value" without any elaboration.
Reply
1 point,6 days ago
Nigeria is the only country where Dash can be sent directly to a local bank account with the recipient receiving fiat. The 40-second animation below shows how to easily send Dash to a Nigerian bank account. Creating this infrastructure is one of our achievements at Dash Nigeria and we require your support to adequately market it to reach remittance senders and receivers.

We will be rolling out a promotional campaign with Coinprofile and Cryptofully to enable users to win an amount of Dash after using Dash for remittances. For instance, users can win X amount of Dash after sending Y amount Dash in remittances. Dashwatch will verify data before we upload it on https://dashnigeria.com/stats.

However, we need our proposal to pass for us to make this happen, counting on your support.
https://youtu.be/K9SOIAXOgLw
Reply
1 point,6 days ago
You did all I asked of you, lowered your ask, dropped the book budget, switching my vote. Good luck. You're gonna need it, you have a whale who thumped this hard.
Reply
0 points,6 days ago
Thank you for your support. Hoping we pull through.
Reply
5 points,10 days ago
Why did some huge whale just vote no? What is the reason for not funding Dash Nigeria after all the integrations, promotions, interviews, events (prior to covid19) insane foot work they have done? Why? I really want to know!
Reply
0 points,2 days ago
Yes, it's these sort of things that fuel all the FUD claims "Dash = centralized, voting power lies with a few whales who loaded up on MNs from the instamine". IDK what to believe anymore...
Reply
0 points,9 days ago
I am taking another look at this myself, do you have a breadkown on what the legal opinion will cost? That is something that may be worth pursuing. Hate to see Dash delsited after the work already put in. Even if it hasn't born much fruit yet.
Reply
0 points,8 days ago
Hello agnewpickens,

The legal opinion costs $3,000. We have made a payment of $2,000 remaining a balance of $1,000 which will be paid from our budgetary allocation for Biz Dev.

We didn't add the costs as a new budget line in order to keep our budget low.

Thank you.
Reply
0 points,9 days ago
I don't see it in the budget you posted.
Reply
0 points,9 days ago
And thanks for not keeping the book printing going, that should be something people ask for, if you want to present something to people at a meeting, give them something they are likely to use, I don't the customs in Nigeria, I know you put some effort into writing the book, but it should be a demand item, something nice with the Dash logo on it that is pretty cheap to produce, a pen company can print pens with the logo cheap here in the US.
Reply
1 point,10 days ago
yes from me.
Reply
-3 points,7 days ago
It's a No from me, this is a low value proposal, we would be better spending our money elsewhere or not at all.
Reply
1 point,10 days ago
Thanks for your support qwizzie.
Reply
1 point,10 days ago
Again, you have my support. You are the heart of Dash in Africa (at least in central Africa), and I was sad to see you didn't get funding last month. I hope the MN Community will remember all the work you've accomplished and will vote to support you this month! Good luck!
Reply
0 points,10 days ago
Thanks for your support TanteStefana. We hope to get funded this time around.
Reply
2 points,10 days ago
Voting yes, good luck.
Reply
0 points,10 days ago
Thanks for your support quantumexplorer.
Reply
4 points,15 days ago
Nathaniel has been receptive to feedback and adjusted his proposal to focus on more primary kpis like dash usage as measured through wallet downloads and Nigerian exchange volume on Dash pairs. I believe there to be a strong opportunity in Nigeria especially when it comes to remittances where a Dash based remittance gives more to the receiver (and faster) than competing services like transferwise.
Reply
0 points,14 days ago
Thank you for your feedback and support. We are committed to delivering the best results for the DAO.

We believe so much in the use of Dash for remittances to Nigeria and will be pushing it aggressively in the course of this proposal.
Reply
0 points,14 days ago
Dash use in Nigeria was covered in this article:

“With this growth, Dash has risen to our country’s second most used crypto for remittances according to data compiled by coinprofile.co – a crypto remittance platform in Nigeria. I believe that Dash will play an increasingly important role over the next few years as users become interested in using a crypto with a superior user experience. Dash has solid plans for long-term growth and has so much potential in terms of adoption and use.”

https://gokhshteinmedia.com/article/nigerias-meteoric-rise-as-the-worlds-2-bitcoin-marketplace
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