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Fostering on-chain engagement and attracting new users among Algorand's Japanese community.

Community

By aper (@aper0xmei)Session 3 • Awarded 3/10/2024

About the Proposal

Japanese people still have significant influence on the price aspects of cryptocurrencies, and not only with BTC. In various cryptocurrencies such as ADA, SOL, MATIC, ASTR, XDC, ENJ, XEM, JASMY, IOST, Japanese involvement alone has the power to maintain a certain price level, regardless of actual demand. However, in the case of Algorand, there are very few Japanese users. Even with a generous estimate, the number of users holding ALGO is around 500, and on-chain activity accounts for less than 10%. This overall figure has hardly changed for about three years, despite the presence of a Japanese Algorand Ambassador and community champ. Honestly, he has little achievement in terms of recruitment, and since there is no expectation of significant influx from him, there is a need for community-driven efforts. The main reasons for the lack of Japanese users are largely attributed to the characteristics of the Japanese population: Almost 100% of ordinary Japanese individuals cannot handle languages other than Japanese. Attempting to obtain ALGO for on-chain activities in Japan through normal means incurs a minimum fixed fee of 3000? (approximately $20) and approximately a 5% fluctuation fee. Japanese people tend to follow celebrities and some are willing to move significant amounts based on celebrity statements. However, there are no influential celebrities among Algorand users in Japan. To address this situation, the following approaches will be implemented to enhance the understanding of existing users and attract new users: Provide high-quality information in Japanese that cryptocurrency users seek. Give a few ALGO to individuals who do not currently possess ALGO, have them create their own wallets, and offer incentives to those who achieve certain results. However, this will be limited to users who can be confirmed as real individuals through some form of verification. Form partnerships with influential influencers or organizations.

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Milestones

Proposal Planning

Define proposal scope and requirements

Completed: 12/24/2024

Phase 1

Implement core functionality for phase 1

Completed: 1/23/2025

Final Delivery

Complete all deliverables and documentation

Completed: 2/22/2025

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Proposal Summary

Funding
12,000 ALGO
xGov Period
Session 3
Status
Completed
Completion
100%
Community Votes
0
0

Team

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