[SOLUTION] Please describe your proposed solution.

We will revitalize the Cardano project by running a campaign for Cardano products, mainly in Japan, and setting up prizes for participants in Dapps, etc. The main targets are Metamask users, new Web3 users, and ADA holders who are currently not very active in using Dapps.

Currently, Japan is home to key players in Cardano products such as dcSpark (+Paima, Milkomeda), Socious, and Zengate. There are also several Catalyst projects using Cardano. A magazine from a popular magazine company that will write favorable articles about Cardano is scheduled to be launched in February or March next year.

Given this situation, we will be running a campaign about the products of companies and organizations based in Japan. Specifically, we will hold game contests with prizes, PR contests, and giveaways for users who have started using the service. We also offer small sponsorships to magazine companies and encourage them to do PR. We will also hold small-scale on-site trial sessions. Currently, it targets Paima-based games, Socious’s escrow system, and NFT projects in Japan. The reason for focusing on Japan is that it is easier to strictly manage legal and regulatory issues, and it is possible to meet directly with project managers and collaborate over a long period of time. Even in overseas infrastructure projects, if the project can secure long-term credit, there is a possibility that support will be provided even if the funds are divided to some extent.

Background

What are Cardano’s representative services? This is a very important question for Cardano in its current state. Naturally, high-security staking that does not require fixed funds is attractive. It is thought that Midnight and AtalaPRISM will become representative names in the future. However, the number of Cardano wallets holding 100 ADA or more is around 1.1 million, which is far too small compared to Ethereum addresses for the same amount of money. This is the same with other altcoins, but the compatibility issue with Metamask is significant.

The proponent used both Cardano’s Dapps wallet and Metamask and felt they had advantages and disadvantages. Cardano wallets are easy to use for security, staking, and simple swapping. On the other hand, Metamask is an excellent interface when complex operations are required or when you need to generate different transactions in a short amount of time. At the same time, I also feel that Cardano’s Multi Asset Transaction concept is difficult to understand if you are used to Metamask. However, overall, the difference is in the operability between Windows and Macintosh.

However, for entrants, all that matters is the expected profit from the number of active users. Therefore, in order to acquire third parties, it is necessary to increase the number of active Cardano wallets and to promote the existence of Metamask compatible services and cross-chain services, including Milkomeda, to both users and companies. In terms of order, it is preferable to promote the number of active users after promoting it to the users.

On the other hand, high security Japan is where the pre-sale was first held and there are many ADA whale holders. Legal regulations regarding crypto assets are also clear. Although there are some inconveniences, at least services developed in accordance with Japanese standards will not be banned midway through. There is currently a global trend towards regulating crypto assets. Japan has had strict laws in place since the beginning due to the Coincheck XEM theft incident around 2018. This has hindered the birth of Web3 companies, but on the contrary, we can look forward to the future. We are beginning to see some relaxation of the law as a result of policy. Under these circumstances, activities by Web3 companies that are already established in Japan or companies that have formed partnerships with Web3 companies are becoming more active.

Under these circumstances, we would like to see investors invest in Japanese companies, but to what extent should we expect investors to invest in specific companies in Cardano, which is a decentralized system? There is a problem. Furthermore, there are differences in the technical direction of sidechains including Milkomeda and Cardano itself. However, in terms of increasing Cardano’s popularity on a product basis and allowing users to gradually gain experience using Cardano wallets, product PR, even if it is based on Milkomeda, will be beneficial for Cardano. We also believe that the activation of WADA and mADA will be a positive for Cardano overall.

From this perspective, we propose PR for Cardano products based in Japan, where there is little possibility of spending due to legal regulations.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community.

This project is considering promoting the spread of Cardano based on the proposed products that are already available. This flow also matches the proposed structure in Fund11. Product-based promotion also makes it possible to obtain feedback from Metamask users and new Web3 users, and is also effective in identifying problems with Cardano. Also, by promoting a Catalyst-based project, it becomes possible to promote the Catalyst system itself and its results, which is a big advantage of Cardano.

In addition, creating immediate demand with Catalyst based on individual suggestions can lead to disappointment in the time until future releases of Cardano products such as Midnight and AtalaPRISM, resulting in an increase in active users and It is also possible to eliminate the disadvantage caused by delays in practical development. In addition, we can simply expect new Web3 users and Metamask users to convert to Cardano.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

The proponent already has a lot of experience with Catalyst. This includes cooperation with local governments, collaborations with traditional industries, and partnerships with famous magazine companies. Furthermore, the proposer has a Ph.D. and has a deep understanding of Cardano, an academic-based blockchain. He also has experience in pool management and has launched new products using NFT. In this context, we have direct and indirect interactions with the people in charge of various projects, and are in a position to consult with them about details regarding promotions. Therefore, if the proposal is adopted, it will definitely contribute to scaling up the Cardano project, which has gained trust in the past Catalyst.

[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?

• Fix 1st promotion partners
• Output Partnership with Cardano project.
• Acceptance two partnerships for next milestone.

• Perform 1st Cardano product promotion

• Output promotion campaign of the Cardano project
• (Now mainly target to Paima and Socious)
• Acceptance : over 500 attendance of the campaign.

• Media promotion

• We will try to demonstrate the Cardano product on real media such as newspapers, magazines or similar one.
• Output : the articles on real media
• Acceptance : at least two articles on the media. If we count it precisely, probably the total numbers of the articles will be more than 5. (for example, one company has 3 products, another company has two products. In this case, we can count it 5 articles.)

• Searching new PR partner by our projects.

• Based on the results until Milestone3, we will ask to more products and perform similar campaign on next milestone.
• Output: new partnership of promotion campaign.
• Acceptance :at least two partnerships

• New promotion started by result of Milestone4.

• Project complete

• Output : report of the Promotion campaign.

• Final report of the project.

• Acceptance : At least 500 attendee for the campaign.

  [RESOURCES] Who is in the project team and what are their roles?

• Ranket : project management

• There are potential partners, however, due to the catalyst rule we can not described here.

  [BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.

• Promotion fee 100,000 ADA (20,000 ADA – 60,000 ADA per each) (ask to developer)

• Making Partnership : 40,000 ADA

• Media PR fee 20,000 ADA

• Project Management and catalyst management 40,000 ADA

  [VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

When it comes to PR for their own products, they often actively want to develop any project. However, many problems arise when manufacturers pay for PR. There is also a high possibility that there will be disadvantages in the selection of Catalyst. This project will solve these problems. Regarding the budget size, campaigns for projects such as Astar start from around $3,000, and there are many campaigns for around $100,000 for Solana and Ethereum, so we chose a total budget of $50,000 as the middle ground. Although it is based on acquiring new users, existing ADA holders can also participate, so half of the budget will be returned to Cardano community members. By amplifying this 100,000 ADA campaign through the media, it is possible to carry out an efficient campaign. In addition, it will be necessary to adjust the system so that the campaign can be held, but by bearing this cost, you can explore standard designs including PR for Cardano products. Regarding project management, they charge 5,000 ADA per month, which is considered to be a reasonable amount for project execution.

After considering the above cost breakdown, we will explain why this project contributes to Cardano with good cost effectiveness. Currently, in Catalyst and other funding, we often see big phrases such as access to 100 million users. However, in discussions like this, it is rare to hear people making statements that take engagement rates into account. Considering Metcalf’s law, currently the square of the number of wallets holding 100 ADA or more equals the market capitalization of the Japanese yen. Based on this idea, the number of users with at least 100 ADA needed to increase Cardano’s market capitalization by 1% is 5,000. Therefore, in theory, it would be no problem to spend 10 billion yen to acquire 5,000 users. Of course, this is an exaggeration, and in reality, it is more natural to think that the cost-effectiveness should be about 100 times the theoretical limit due to the relationship between distribution volume and market capitalization. In this case, it is sufficient to expect an increase of 5,000 people for 100 million yen, and in the case of a 10 million yen project, there is no problem as long as you can acquire 500 active users. We believe that this project will serve as a standard for realistically promoting Cardano without setting excessive goals, and in that sense, we believe that the relationship between Acceptance and budget will clearly benefit Cardano.