Although Africa's development in the Web3 space still faces a number of challenges, such as poor network infrastructure, lack of digital skills, and an uncertain policy environment, these have not seemed to hinder the rapid growth of Web3 in Africa, thanks to the acceptance of Web3 by African users.
In a recent global survey on cryptocurrencies and Web3 conducted by Consensys, African countries such as Nigeria and South Africa have shown a surprisingly welcoming attitude towards Web3. For example, in terms of public awareness (Figure 1), 78% of the Nigerian users surveyed said they knew what Web3 and cryptocurrencies were, which is much higher than the level of about 50% in Europe and the United States. In terms of willingness to invest (Figure 2), Nigeria (90%) and South Africa (78%) are also well ahead of other countries, with the survey also showing that 70% of users in Nigeria are or have at one time been holders of cryptocurrencies (Figure 3).
All these figures show that the acceptance of Web3 in the African market is increasing, but overall, Web3 development in Africa is still in its infancy, due to the fact that many people do not have a proper understanding of Web3 and the barrier to entry into the Web3 world is still relatively high.
To address these issues, Cassava, an African-based Web3 task and X2E (X to Earn) platform was created to provide a user-friendly traffic portal for future large-scale adoption of Web3 in the African market. Cassava helps Web2 users transition into Web3 more easily through a gamified experience, and thus builds an environment through which Web2 users can easily enter Web3 while building a vibrant and cohesive ecosystem.
As a traffic portal, making it easier for traditional Web2 users to transition into Web3 is the core of our mission. To this end, Cassava has built a task system through gamified applications and built-in incentives, encouraging users to learn and explore the Web3 world.
Cassava integrates the knowledge and practice of Web3 into its various operations thereby educating users about Web3 while incentivising them with CB Coins, stablecoins, NFTs and other incentives provided by the platform, which effectively stimulates the motivation of users to participate in the process.
The Cassava platform ushers users into Web3 through a series of innovations.
Cassava AfriMyth Avatar
The Cassava platform allows users to spend CB Coins to receive an exclusive AfriMyth Avatar which represents a user’s identity in the Cassava ecosystem. Users can design their own image using the Avatar editor and can use it as their avatar in the Cassava ecosystem. Currently, there are over 500,000 users registered on the Cassava platform, out of which 200,000+ have already created their AfriMyth Avatar.
Each Avatar is unique and represents a user's identity in the Cassava ecosystem. AfriMyth is an important part of Cassava's identity system, and in the future, the AfriMyth Avatars will be upgraded to SBTs, which are deeply bound to users’ addresses, so that the users’ history of behavior on Cassava can be used as proof of access to the platform's benefits such as airdrops, whitelists, event priority, etc.
Team up With Friends and Earn More
Trust Circle is a user growth engine designed by Cassava. Users can earn more CB Coins by inviting friends to team up and complete tasks together.
KOLs, community owners, etc. who have user resources can create a Trust Circle on Cassava and invite their users to join it. Each Circle can accommodate up to 20 users, and users in the Circle can get extra rewards for joining the Circle. The more active the users in the Circle are, the higher the rewards will be.
Users are also rewarded for directly inviting others to join Cassava. The Cassava Loyalty League is an engagement and loyalty program that rewards participants based on the number of people they invite to the Cassava platform every two weeks giving participants who rank on the leaderboard a chance to share a reward pool of $100,000.
Start to Earn
Only by successfully attracting a large number of out-of-circle users can we have a chance to become a Web3 traffic portal. In Cassava's design, X to Earn is a very important step.
In addition to the Invite to Earn mentioned above, Cassava's X to Earn model also includes Quest to Earn, Quiz to Earn, and Move to Earn. Users can participate in corresponding activities to earn CB Coins, stablecoins, NFT and other rewards from the platform.
The Quest to Earn is based on Cassava's Web3 task platform, which allows Cassava and other brands to reward users with CB Coins, OATs, NFTs, and other partner rewards for completing their tasks.
Quiz to Earn is a gamified quiz feature within Cassava. The platform publishes daily quiz questions covering blockchain, NFT, DeFi, etc., and users are rewarded with CB Coins for correctly answering them.
Move to Earn is another gamification feature designed to motivate users to maintain healthy habits. Once a user starts the Move to Earn task in the app, the user's daily steps are automatically logged on the device and the user is rewarded with one cycle per day. Cassava has set three goals for the user: 3,000, 5,000, and 10,000 steps, and as the user achieves higher goals, he or she will be rewarded with more CB Coins.
Tokenomics
CB Coins obtained by users are issued based on a centralized point system, which means that CB Coins are not on-chain tokens and can only exist in Cassava's dedicated wallet. These CB Coins can be used to purchase products and services on Cassava's platform. They can also be exchanged for Stablecoins, Project Tokens, NFT, real-world commodities, and so on.
The main reason for adopting this centralized reward scheme is to address the entry barrier associated with making use of cryptocurrencies and wallets for traditional users, and to avoid potential asset security risks due to users' unfamiliarity with on-chain operations, etc. However, as the education of users gradually deepens, they will be able to learn more about Cassava and its on-chain products and services.
As users continue to gain knowledge of cryptocurrencies and Web3, the much-anticipated Cassava Platform Governance Token, CSV, will be made available to users.
CSV is a fully decentralized on-chain token, and Cassava will be upgrading its wallet to accommodate CSV.
CSV has a total volume of 10 billion tokens, which are allocated as follows:
In terms of user empowerment, users holding CSV tokens will get the following rights and benefits:
Proposals and Voting: CSV token holders can participate in the platform's governance decisions and exercise their proposal and voting rights.
Platform Revenue Sharing: CSV holders will be eligible to share the revenue from Cassava's platform;
Airdrop Incentive: CSV holders will be prioritized to be eligible for airdrops of relevant tokens from the platform;
After the release of CSV tokens, CSVs will gradually replace CB Coins as the main incentive on the Cassava platform, which will be converted into CSV tokens in a certain way.
Deepening the African market
As an African-focused platform, Cassava has already made a good impact in the African market having organized several offline events, which attracted a large number of users. These events have not only increased Cassava's visibility in Africa but have also given more African users the opportunity to learn about and engage with Web3.
In addition, Cassava's Central Tasks platform has also partnered with several communities in Africa. The involvement of these communities has further expanded Cassava's user base and enabled Cassava to better meet the needs of African users.
Cassava will continue to develop into an X to Earn aggregator in the future. Based on the X to Earn aggregation, Cassava has the possibility to cooperate with different Web3 projects or local merchants in Africa, and in the process, the users get real financial benefits while Cassava deposits more traffic and eventually develops into the most powerful Web3 portal in Africa.
Thread
1/Market Potential
Africa is currently one of the fastest growing Web3 markets, with over 1,200% growth between 20-22;
The African Web3 market is expected to reach $134.9 billion by 2028;
According to Consensys' survey, African users are higher than other regions in terms of public awareness and willingness to invest;
Web3 development in Africa is still in its infancy, with a large number of users yet to enter the crypto world and this is where Cassava comes in.
2/
Cassava - bridging the gap between Web2 and Web3
Creating a Traffic Portal for Future Mass Adoption of Web3 in African Markets
Cassava helps Web2 users transition to Web3 more easily through a gamified experience
3/
Product Features
Quest to Earn
Cassava-based Web3 Quest platform, where the Cassava and other partners can publish quests, and users are rewarded with CB Coins, OATs, NFTs and many more for completing these quests.
Quiz to Earn
A gamified quiz feature within Cassava. The platform publishes daily test questions covering blockchain, NFT, DeFi, etc., and users are rewarded with CB Coins for answering them correctly.
Move to Earn
Once a user opens the Move to Earn task in the app, the system will automatically record the number of daily steps taken by the user through the device. A user can only complete one cycle a day. Cassava has set three goals for users: 3,000, 5,000, and 10,000 steps, and as users achieve higher goals, they unlock more CB Coins rewards.
Invite Friends
Users can invite friends directly or create circles to join them in completing tasks. The more active the circle, the higher the bonus.
AfriMyth Avatar
The identity of the Cassava platform, currently off-chain, will be upgraded to SBT, which can be used as the user's credentials.
4/
Cassava Governance Token for Africa's Web3 Platform CSV to be Released Soon
The tokens are allocated as follows:
User Rights:
Proposals and voting;
Platform revenue sharing;
Airdrop incentives;
...
Comments
Post a Comment