Thank you for the continuous support and trust in us @gemini.frontier.fund! It’s been a pleasure working with you, looking forward to accelerating the web3 adoption and supporting the best founders in Africa together!
Thank you @Enziga for your insightful comments! Definitely one of my favorites of the day!
Hard times create strong men, strong men create good times using innovative solutions. African entrepreneurs, having undergone a trial by fire in the past decade, are best positioned to create a better future catalyzed by the development of web3. Considering the litany of socio-economic issues in Africa such as high inflation, instability and high unemployment rate, web3 has the potential to change lives for the better. Innovation in this space can empower people with financial freedom and return to them the power they deserve.
Our mission at AfricaDAO is to accelerate web3 innovation in Africa by bringing together a unique network of investors, advisors, capital and social resources to support young and innovative African entrepreneurs. As the African founders are the implementers of each solution, the education and unique resources AfricaDAO has to offer will be the backbone of future web3 unicorns across the continent.
Thank you for your support Chirag! We are committed to bringing top investors like you to work alongside regional talent to build the future of Africa. Let’s supercharge Africa for the next decade and beyond together!
Hi @oussing, great to hear from a fellow African founder! Thank you for your thoughtful comment and for your trust in us! We agree, Africa is ripe for disruption and development and web3 provides the perfect ecosystem and tools to empower founders and developers to implement the improvements and leapfrog the continent.
Getting support and recognition from local founders like you means a lot. In fact, many of our supporters are highly respected web3 entrepreneurs or investors building in their localities (North, South, East, West Africa) for many years out of their passion for Africa. We see the same latent potential for growth in the region that you do. Combining the best web3 knowledge with local expertise is the best way to support the next wave of African entrepreneurs in spearheading the development of their solutions.
It all boils down to data acquisition. Other companies entering Africa through one submarket and then trying to scale from there is quite difficult because they only develop regional resources that don’t scale well across borders. In doing a large initial launch we are able to leverage a continental network of advisors and their expertise all together, FYI whose bios are included in our proposal We talk about this more in our medium article at: Jambo: Pioneering the Largest, Most Influential Web3 Community in Africa | by Jambo Technology | Jambo Technology | Medium, but to give a sense of scale there are over 2,000 distinct dialects in Africa. To find your product market fit you have to test out and gather data points yourself and the best way to do so is to have an established local team.
AfricaDAO has carefully curated a set of advisors and partners in each major local region who already have the knowledge of how to work within their respective markets. This is an invaluable resource for any company looking to scale and we believe will be a massive advantage for all future AfricaDAO projects.
Awesome proposal. And the team, of investors & regional advisors, behind AfricaDAO is absolutely rocking!
Also I enjoyed listening to @jambojames 's podcast on blockworks, your enthusiasm for Jambo, and vision for Africa are truly riveting. Best wishes.
Trust this works out exceedingly well.
Btw- appreciate clarification, or elaboration for the following :
(Page 12 of the proposal)
“The Investment and Acquisition component of this initiative will be structured as a standard
GP/LP fund with a standard 2/20 management/performance fee.”
I can tell this AricaDAO proposal will definitely bring more resources and attention to Africa. The team is absolutely the best one that can change the whole graph and redefine the way how Web3 will bring a better life to people there. I feel excited about what’s gonna happen in the next 10 years! Best team ever, let’s rock!
The * BIP-13: AfricaDAO: Accelerating Web3 Adoption Across The Fastest Growing Continent* vote is live on Snapshot!
Please cast your vote by Aug 9, 2022
Your project and local support is amazing and the vote is well on your side, congratulations !!
I have nevertheless some questions and comments.
The first one is that AfricaDAO is mainly focus on crypto adoption in Africa. To reach this objective, education is key but the budget allocated to Education is 5% which is not a significant part of the total budget, why ?
Second question is about the 90% of the budget allocated to investments and acquisition. AfricaDAO has identified 5 main relevant criteria but plenty of projects may fit, especially at an early stage, so how AfricaDAO will choose these projects? Will AfricaDAO mentor/tutor these projects to lead them to be successful, if yes, how? Will it be transparent for the community, how you choose the funded projects? Will the AfricaDAO community and the BitDAO community be involved in this process ? Otherwise, how AfricaDAO match with the definition of a DAO if the community is not involved ?
Third question also about the “investment and acquisition” part which is 90% of the budget, so 94.5M. Is the acquisition of projects a good way to foster innovation ? Especially if the acquisition is leaded by a third-party here AfricaDAO so considered as an entity of “the crypto industry”. I wonder if a maximum threshold investment (like 49% of max VC investments) would help to justify that AfricaDAO and BitDAO support innovation in Africa, but do not own it.
Wish you a lot of success !!
Hi all -
Pantera Capital here. We’re investors in both BitDAO and Jambo Technology and are proud to be an official supporter of this important initiative. Voting YES was an easy decision given the strong:
Proposal which, through its three-pronged approach, clearly outlines a well thought out and robust plan to achieve the DAO’s goal of accelerating web3 adoption in Africa; and
We’ve actively invested into businesses enabling greater access to crypto in Africa, including AZA Finance (fka BitPesa), VALR and Jambo Technology. We’re proud to support the AfricaDAO initiative with the direct involvement of our General Partner, Paul Veradittakit, and are even more excited today for the future of Web3 in Africa.
We look forward to supporting the next wave of founders and proposals that will develop the necessary tools to accelerate the mass adoption of web3 in Africa!
Agreed. Africa has the most traction in crypto adoption, an entrepreneurial spirit, and a large and fast-growing youthful population. The Savimbo Project is looking at Somalia as one of our sites for mangrove fair-trade carbon offsets and given the difficulty with stable banking in the region and collective tribal land ownership, crypto penetration would significantly aid on-the-ground deployment.