Proposal Title: Continent DAO - Bringing Mass Adoption to BIT
Authors: Adonis Ferreira - Gov Lead in Continent DAO
Date: December 18, 2021
The Continente DAO aims to partner with BitDAO to implement programs that promote the widespread adoption of Web 3 in Latin America through the use of the Mantle Network and the $BIT token.
Continent DAO has committed to reserving 50% of the collections from its “Free Wi-Fi” utility NFT with preference in choosing and allocating 30% of its voting governors committee seats designated by BitDAO governance. The distribution of hotspot revenues will be as follows: 60% for data owners, 30% for investors, and 10% for the Continent DAO Treasury.
BitDAO commits to providing funding to Continent DAO in the amount of $10 million USD, divided into five tranches of $2 million USD each, in the form of cryptocurrency assets. The first tranche will be sent after the approval of this proposal, and the remaining tranches will be sent based on milestones and approval from the BitDAO governance.
You can find the full proposal here.
Also access our website and documentation. - under maintenance.
Looks great. Do your team holds enough bitDAO token to put the proposal on snapshot?
Hey, thank you. We are focusing on receiving feedback on the proposal and looking for improvements. But we intend to propose it in a vote soon, we hope that some delegate or moderator can propose it, but if it doesn’t happen, we will do it on our own.
The programs do not have a minimum or maximum age range. But the audience can be targeted as needed.
For example, if we want to reach the largest financial center in Latin America, we can invest in greater distribution in Faria Lima (The “Brazilian Wall Street”), where the public is adults and interested in finance and investment.
@Don I read your proposal and I’m still trying to understand what problem you are trying to solve and how you will create a sustainable situation for solving that problem.
@Yonks The main objective is the mass adoption of web3 and its benefits in populations that most need them, but we have a barrier (problem to be solved) which is the lack of internet access, without it no crypto space product is possible to be used.
So we offer an alternative solution to this problem, through partnerships including government entities.
The sustainability of this program is also mentioned in the Abstract of the proposal, which is the commercialization of data from internet accesses that we offer to populations (Web3 Data Economy).
This data tends to get more valuable over time, as at first it is data from non-crypto people, but it will become crypto users and this increases the values exponentially.
We will easily surpass the number of active addresses of any current blockchain and protocol in a few weeks.
@Don In 2022 with the forthcoming satellite internet capabilities of companies such as Starlink (SpaceX) and Project Kuiper (Amazon), I do not believe that it would be wise for large amounts of capital be deployed in building out WiFi infrastructure.
Furthermore people increasingly have access to 3G/4G/5G data access on their smartphones.
Our studies and the information we have obtained do not indicate that only new means of accessing the internet will solve current problems. Satellite Internet is a great option when we’re talking in remote locations with few accesses, but they don’t work well in crowded environments.
Each Starlink satellite supports 2,000 connected people. Is that enough for a ship transiting the Pacific Ocean? Yes, but for a single city of 20M people? No, imagine this on a continental scale.
37% of the world population has no access to the internet, in Brazil most use prepaid service with limited data usage. Today, investments in the metaverse area are not restricted only to applications/platforms, but also to infrastructure. If you are interested in reading more on the topic, I recommend the recent NASDAQ posts on this topic:
We added in the proposal co-authorship: Jordan Gray from NEAR Foundation.
As our proposal continued to be discussed on the official BitDAO channels, we decided to make changes and improvements to meet everyone’s interest.
We have increased the total allocation of tokens from 4% to 10%, now totaling 100M CONT tokens, this fulfills the most frequent request we receive to increase the allocation, this was made possible by adding “Tokens transferred immediately if the proposal passes (30M - first tranche)”.
This mechanism has also been used in the BIT - FTT swap proposal, as you can consult here.
So tokens transferred immediately if the proposal passes. The use of the Rainbow Bridge is recommended (Rainbow Bridge) / Aurora and destined resources directly to Continent DAO Treasury address: continent-dao.sputnik-dao.near
We would like to indicate this first tranche with the following formation:
10,000,000 BIT (approximately 15M USD)
7,500,000 USDT (7.5M)
7,500,000 USDC (7.5M)
(50% BIT / 25% USDT / 25% USDC)
We also detail the use of resources on an annual basis. Forming investment in batches - also suggestion from BitDAO’s Chinese community. Pages 4-5
I contacted Ocean Protocol, they have never heard of you and ContinentDAO, they will even report your site. I contacted the city of São Paulo via email, their DAO does not have any partnership with them. And finally to Near, they said that you lost funding for not complying with the agreement. All your partnerships are fake, this is probably a scam.
I had reported this comment for the baseless accusations, but I will respond to it in order to maintain our commitment to transparency.
About NEAR, we received constant support from the NEAR Foundation, we reached the mark of 70,000 registered users and we received the second grant this week.
Our activities with Ocean Protocol are always described in detail in the use of marketplaces for the sale of the Data mentioned in the Free WiFi program. I spoke directly to their Head of Communications a few weeks ago.
The Web 3 Data Economy is an important part of our program and we are studying various applications not only from Ocean Protocol but from Itheum and others as well.
The City of São Paulo does not have a DAO, Continent DAO has a direct relationship with the government (without any intermediary), we have collaborations in the initiatives mentioned in this proposal and in our documentation.
Our contracts will be reviewed prior to submitting our proposal to governance. (this not only with the city of São Paulo, but with all the other special cities that we have in our alliance).
I hope I have clarified your doubts or accusations that didn’t make sense, but thank you for your participation here.
In the next few days I will send here the news and changes that we have defined in our proposal. I would like to thank the BitDAO community for feedback and suggestions.
As promised, I will announce new and very important changes to the Continent DAO tokenomics and the proposal with BitDAO.
A governance token that assigns many roles can suffer from different interests and also consequences in compliance and laws. Government programs and partnerships require KYC, the CONT token was designed to be a free-use token, so we decided to create a second token, a utility non-fungible token.
The token CONT governance token will continue to have the same roles and tokennomics already defined.
A Utility NFT collection will be created to identify and represent the internet access points (hotspots), their individual information and indicate the ownership. An additional KYC process will be carried out for the owners of these tokens who wish to make use of the hotspots as a partner of Continent DAO, private and government partners.
Holders of NFTs who do not wish to participate in the KYC process:
- Trading in peer exchanges with similar tokens or other tokens.
- NFT staking in pairs with CONT on exchanges.
NFT holders with the approved KYC process will have the following benefits:
- Monetization of marketing/advertising of accesses during connections.
- You will receive 10% of the collective commercialization of the collected data, during 5 years from the first use.
- Special NFTs also allow eventual uses of public spaces for Marketing/Advertising.
- Sharing of Brands in publicity of private and governmental partners.
First NFT Collection
The first Free WiFi collection will have only 150 pieces, this collection will contain the most varied locations (museums, parks, shopping areas, subways, tourist attractions and historical monuments).
The minimum bid for each token is $400K USD. (This is the minimum amount to cover all operations of a connection point for 5 years).
The first Free WiFi collection will have only 150 pieces and will be used in the City of São Paulo (21st largest economy in the world).
Changes in the Proposal
BitDAO will receive 20% CONT tokens. (this will guarantee the same average voting rights with DAOs already approved by BitDAO)
BitDAO will receive 65 NFTs from the Free WiFi collection, with KYC already verified. (valued at $26M USD)
BitDAO will have preference in choosing its 65 NFTs.
We added +10% of the total CONT allocation to BitDAO.
The addition of utility NFTs to our tokennomics will add more $26M USD of value to BitDAO’s treasury.
Government and private partners will be able to contribute a lot to the BitDAO ecosystem. We participate in meetings that involve paying taxes with cryptocurrencies (We can suggest CONT and BIT), smart city projects, regulations and several other areas for collaborations.
Hi @numune, if you read “discussion” and didn’t understand the meaning, I’ll help you, that means that the proposal is being developed with the participation of the community, it’s not in the final version.
I update here based on the feedback we receive on official channels and report on progress.
My credentials and that of the co-authors can be verified through the links that we provide here and prior to submitting the proposal to governance.
Our first contacts with BitDAO are since September 2021, even before the launch of Continent DAO which was in October 2021. ContiDAO has the DNA of BitDAO since its creation…
And … we will try to prove this in voting (governance).
I checked and you seem to be a new user so you may not know these facts.
Thank you for your participation even if negative or non-constructive.
I like this project of yours
But how does this benefit BitDAO holders?
Great question! Here are some of the direct benefits:
• 0.5% to 2% airdrop for BIT holders.
• 20% of the total allocation of CONT tokens to the BitDAO Treasury. (200M $CONT)
• Voting power corresponding to 30% in current governance.
• Approximately $26M USD in assets (Utility NFTs).
• Farm incentives CONT <> BIT
• Exclusivity in IEO (Bybit) or IDO (L1 BitDAO)
• Allocate the 10% of revenue to the BitDAO Treasury as a hotspot owner or, for example, integrate it into the buyback program.
Indirect benefits discussed since the soft-proposal was presented:
• Customizable access in the definition of audiences and engagement (BitDAO in the first months of activation of the hotspots would become the largest DAO in the world in several metrics of adoption and usage).
• Presence and exposure in national and Latin American programs offering services and products (acceptance of BIT for tax payments, CBDCs, Stablecoins, Regulations, Smart Cities).
• Multi-chain performance.
• Listing on the largest investment bank in Latin America and largest South American exchanges.
• Presence of the BitDAO brand and partners in the international activities mentioned in the previous post.
Hi @sirsyc ,
Thank you for the compliments and questions about our project!
Internet access infrastructure is necessary as a basic premise of Web 3, by providing this benefit to users, we also gain rights to control these hotspots, which will allow Web 3 Data Economy, marketing/advertising, tasks (which may include learn-to-earn, play-to-earn and others). We will be the gateway to mainstream on Web3
Regarding the development of our own products, it is important to say that when observing the crypto scenario, we realize that there are several ready-made products but without any large-scale use, so at first we seek to integrate them; in a second moment we will create our own solutions oriented to our studies and research, important data from the Free WiFi program, informations from applications in use and other sources.
*Spoiler: We have a DeFi project for this second phase that I mentioned, it is already in the planning phase and will serve our future user base, but this is conditional on us being successful in the BitDAO governance vote. We just need to proceed one step at a time.
I love the idea project idea and what you folks are trying to achieve. However, I am confused about how you will increase the web3 adoption by providing individuals with “Free Wifi/internet access”. As your plan would work too for further web2 adoption. Is there potentially a new product down the pipeline that will help assist and onboard the next “Million or Billion” users?
This is an interesting proposal. Nowadays internet has become a necessary component of our life, and onboard people through free wifi would definitely attract massive users. The problem is we know wifi is from modems, and it actually requires a lot of modems to power up a “free wifi” program in a city. Do you mean a free cellular data program or free wifi for home internet users?