[Ideation] SCP-122 - Proposal to renew the Globalization Workstream
Read the re-incubation post: https://forum.shapeshift.com/thread/re-incubation-proposal-to-renew-the-globalization-workstream-41928
Summary:
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After feedback from the community we decided to re-ideate this proposal with a new configuration, considering a 27% reduction compared to the previous term.
We should keep reducing the Workstream operations as runway projections progress. Check out the key changes following community feedback below:
For this term, there is no provision for adding new languages, given that the cost x investment is not justified. We will just keep the current stream of translations in small strings to keep our platform up to date.
- We want to use human resources as the main capital for Workstream to carry out its activities, always looking for a creative way with a lean budget. Roles of all those involved in the proposal and their duties are now described in the new re-incubation document.
- We have reduced the cost of Office Funds as required (half compared to the previous term). This generates significant savings compared to the previous proposal without the need for salary reductions (which are already below the market average)
- We also redefine our goals with realistic yet challenging objectives aiming sustainability and balance in our team. These goals should be measured according to cannonical tools that DAO provides and internal Workstream analysis.
The Globalization Workstream began its first independent term in August 2022. The SCP-95 proposal established a solid foundation for the organization when it comes to plurality, global expansion and brand presence in countries beyond USA. Led by TheSmith and Co-Led by Vlad, SCP-95 also opened the doors to a range of creative activations with a lean budget and team. The WS is responsible for managing the ShapeShift DAO’s interactions with the global community. This includes developing and maintaining relationships with key partners, managing outreach and communications initiatives, and coordinating the DAO’s participation in global events. Globalization Workstream is also responsible for overseeing the growth of the ShapeShift platform in international markets, and for supporting the growth of the ShapeShift community around the world. Global contributors are mainly bilingual, but we do have trilingual contributors.
This proposal aims to renew Globalization Workstream from February 15th, 2023 to July 15th by accomplish a 6-month term.
Abstract:
During the previous term, the Globalization Workstream positioned itself strategically taking into account research on the countries with the highest crypto adoption in 2022;
According to Chainalysis last top global crypto adoption index emerging markets are dominating. Most part of them are covered with community or language support provided by global ws: Brazil, Russia, Turkey, Argentina, Colombia, Ecuador, Ukraine.
Research: https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/
Core goal for this proposal is to continue to work hard consider SMART objectives aiming accomplish Globalization goals.
Motivation:
Besides the international communication, the current Workstream created legacy through community building, onboarding experiences with ShapeShift, legendary merch and even nfts. Our community is excited to bring their knowledge and skills to build the future with us. They’ve already started to impact the DAO and we’re just getting started.
Globalization Workstream guidance aims to work strategically and understand non-US based users’ demands. According to Chainalysis research, the global top10 crypto adoption in 2022 is: 1 - Vietnam, 2- Philippines, 3- Ukraine, 4- India, 5- United States, 6- Pakistan, 7- Brazil, 8- Thailand, 9- Russia, 10- China. If we extend this list a little further, we should find other countries in the top20 covered by Globalization support like Turkey, Spanish countries like Argentina.
DAO is still looking for the ideal product fit and we shouldn’t limit ourselves only to US markets, the Globalization Workstream has a set of goals that boost ShapeShift bandwith across countries of interest, mainly where crypto is blooming as stated. We must consider the exciting roadmap we have and also support the other Workstreams that look to the product and community.
Specification
One of our main goals is deliver 50k Global MAUs after the 6 month term measuring canonically with Pendo.
This may seem like a challenging scenario (and it is) but we can achieve these results with creative solutions, bringing an aggressive posture and earn new users. We also understand that the actions proposed in the ShapeShift DAO roadmap is a door opener for Globalization plans by expanding possibilities ensuring support for actions aimed at matching product fit and users. Thus, it’s also necessary to be assertive and engage these users in features that bring us revenue with relevant CLTV (customer lifetime value).
From 4 to 5 events are on the coverage roadmap, most being global. Strengthening ties and establishing key relationships with our community is a goal that has already proven to be effective in bringing IRL leads to the organization. Event activations should target communities in Brazil , Spain (and Ibero region as well) and Latin America aiming ShapeShift onboarding and MAU goals.
New languages shouldn’t be added in the new term but we will continue to carry out the maintenance of existing ones. We must focus Workstream’s demands on the Spanish and Portuguese communities using our current hired work force. The Workstream will continue sharing reports with metrics and use of ShapeShift products by these developed communities.
We want a boost in WS revenue. A study on KeepKey feasibility in Brazilian was designed to identify competitors and retail sales margin. Our objective is to carry out not only sales but also to guarantee a powerful merchandising, Globalization also can help DAO income with its own retail operation by spliting the revenue between Workstream internal activities (funding the own workgroup) and DAO’s treasury.
All other services such as maintenance of translations (from the platform to organizational communications), our non-English social networks, incessant search for foreign partnerships, mediation of international affairs should be kept. In addition to making its services available to any Workstream that needs specialized Web 3.0 people.
Goals
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So how we can boost monthly active users and support DAO’s strategy - revenue income and product fit? Besides Pendo and other analytics tools that we are willing to use, here’s some tactics we envisioned:
By working around social media platforms such as Twitter, Instagram, and LinkedIn to promote the app and engage with potential users. This can include sharing updates, offering special promotions, and responding to user inquiries and comments.
- Collaborate with influencers or industry leaders who have a large following and can help promote the app to our audience. This can include create content that showcases the app’s features and benefits aiming the perfect product fit.
- Leverage content by creating educational and informative blog posts, videos, and other resources that demonstrate the value of the app. These can be shared on the app’s website and social media channels, as well as through partnerships with relevant industry publications or websites.
- Apply for micro Grants that can fund part of Workstream's focused work on a certain topic of interest and also return income to the DAO treasury
- We are considering running paid advertising campaigns targeting specific demographics or interests that align with the app. Mainly for Instagram/programmatic ads activation: this expense must be monitored monthly in order to assess the effectiveness.
- Build ideas around incentives or rewards to users who refer their friends and colleagues to the app (Like FOX). This can encourage word-of-mouth.
- Relevant integrations are yet to come, considering BSC and Polygon the most popular networks in countries like Brazil, there is an expectation to reinforce these features in Globalization plans. This goes for Arkeo, Thorchain and other partner products that can attract relevant user base and non-US MAUs.
- Attend to important industry events, such as conferences and regional meetings, to showcase the app and network with potential users. This can include speaking on panels, hosting a booth, or small sponsorships.
- Due to the organic users already acquired in social networks and Web3, we must also apply goals on these fronts. The organic growth of socials can certainly drive new users to the final destination, which is our product. Thus, we new goals were definied:
Global Socials are currently holding 4.238 subscribers. Workstream Goal is challenging and aims 6.400 new subscribers in these socials, this means growth hackers should accomplish 150% organic in growth during 6-month term.
Given the details of each Globalization frontline and their goals, see below our SMART objectives:
Deliver 50k Global MAUs by July/2023 (6-month term)
- Double Portuguese (1600 average -> 3.2k) and triple Spanish (600 average -> 1.8k) Twitter subs over 6-month term
- 6.400 new subscribers in Global Socials by the end of the term
- Accomplish translation maintenance ensuring weekly updates on time-based activities aiming 20+ updates
- Open our community markets by integrating the right on/off-ramp solution i.e. PIX for Brazil, other Latin America popular payment method.
- Foster KeepKey retail during 6 months aiming relevant growth
- Attend to 4 strategic major events during the 6-month term
Agile methods will be applied on internal team management with weekly sprints. Following both guidances we can keep the lean budget with a better accountability. It is important to mention that although many actions are seen as marketing, the Globalization Workstream feeds the community as a whole, having the Communication skill as its main bias.
Costs We request $32,2590.00 in USDC and $65,250.00 in FOX to cover all Globalization workstream expenses for 6 months, saving $41,850 USD and reducing 27% compared to the previous period.
Budget summary:
Montly USDC spent: $5,875 Montly FOX spent in USD: $12,275 Total USDC spent for the entire term (6-months): $35,250 Proposal total: $108,900 ($35,250 USDC + $63,650 USD in FOX) Total Office Budget (6-month): $11,400 USD Difference between past and new term: $41,850 USD
Benefits
Bear markets can’t wipe out bull market adoption, while growth has become more sporadic with the onset of the latest bear market, global adoption remains well above the levels that preceded the 2020 bull market. By funding Globalization Workstream you will be ensuring that ShapeShift will continue to expand creatively with significant cost reduction, in addition to ensuring the international communications that are already carried out in the organization.
This proposal carries challenges that can directly and positively impact the DAO. Considering that we achieved these results in 6 months, we will problably reach the ideal Global setup and contribute directly to oxygenating the organization worldwide.
From a financial point of view, that’s one of the most economical Workstreams in the organization. It’s requiring a budget equivalent to what a single regular DAO contributor would earn per year. We are aware of the current difficulties and market scenario, so that’s why we are proposing a multidisciplinary team under lean budget.
Drawbacks This proposal will cost DAO money, however we are requesting 70% of total budget in $FOX (with the possibility to lock them in Hedgeys). There is a possibility that some goals (like massive MAUs or social promotion) will not be accomplished due to market conditions.
Vote FOR: A vote “FOR ( I support Global WS)” indicates support for funding the Globalization Workstream from February 15th, 2023 to July 15th, 2023
FOR (with changes): A vote “FOR (I support Global WS, but with changes)” indicates that you support funding the Globalization Workstream for the next 6 months IF revisions are applied
AGAINST: A vote “AGAINST (Don’t fund Global WS)” indicates that you do not support funding the proposed Globalization Workstream