Growth CU weekly update: June 11 - June 17

General Updates

El Salvador. We are working with our partners there (crypto ATMs and PoS solutions) to find a way to introduce Dai to the country. There are two approaches for it, depending on the audience:

Retail users.

Current situation. Although Bitcoin is accepted for payments, our partners think people in general (especially merchants) won’t save their money in BTC but will look out for ways to convert it to USD.

Next steps:

  • We have to start an educational campaign to explain how DAI is a dollar (a better dollar). This has been a recurrent challenge in the past with emergent markets, where it’s essential to explain to people what Dai is. It’s confusing for them because it’s not self-explanatory.
  • As part of a previous agreement we have with one of our partners, we will be launching a solution for merchants to accept BTC and convert it and save it in DAI.

Government.

Current situation. Part of their treasury will be in BTC, and they intend to offer a service to their citizens to convert BTC to USD.

Next steps:

  • Through our partners, we will propose to them the wBTC vault to get loans in Dai.

:star2: Star-s of the week :star2:

New bridge!!! :bridge_at_night: Sovryn bridge went live, accepting DAI from ETH Mainnet or BSC to RSK network using Babelfish protocol and transforming the DAI into XUSD. Babelfish protocol is going live in a few days.

MaoDAO: First Play-to-earn DAO in China, also serves as an incubator, aims to help build a broader NFT community and make community-driven projects come into existence through an incubator. Onboarded hundreds of players to Axie Infinity. They are going to use DAI as payment.

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There are rumors that possibly due to the acceptance of BTC as a legal currency, and being El Salvador a country without its own monetary policy due to its dependence on the FED, its credit will be seriously affected, I think it would be a great advance if they open Vaults of wBTC, it would force a healthier economic policy and also to manage the risk in a great way, always looking for returns instead of expenses.

Much success guys and may that goal be achieved!

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Looks like Paraguay :paraguay: is up next per Coin Briefing:

“Carlitos Antonio Rejala Helman, a Paraguay official, is planning to introduce Bitcoin legislation in July.”

Also, maybe we can reach out to Groupo Cinco @MarianoDP ?

“One of Paraguay’s top entertainment companies, Grupo Cinco, is also planning to accept Bitcoin and other cryptocurrencies.”

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With regards to this, would this be a good opportunity to potentially start to rebrand our main Dai as Dai-USD (or similar), at least on UIs and marketing material? Given there are several marketing CU proposals at the moment this could be a great opportunity for the DAO to start working on some key messaging around what Dai is, and surely help reinforce that we are talking about a USD pegged currency here as it’s in the name - I think Nadia mentioned yesterday on the governance call that we always start at a disadvantage by not having USD in our name - doesn’t have to be in the ticker per-se but we could at least reference it as so when we talk about the USD version.

Also, I say USD version above because there are several references in this forum alone to EurDai, so even once we start to educate people that Dai is USD, a bit of their own research is going to lead them to discover that actually, Dai might also be Euro and any other currency that might crop up in conversation. It won’t be long when Dai is not just USD and we will have to do something like this anyway IMO. Trying to do it sooner is always easier than later, as there are much fewer people to re-educate, and then it would seem new conversations around education and awareness building would be much easier.

Just my thoughts…

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I have a couple of contacts in Paraguay, on it.

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Nice!! Wishing you the best of success!

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Excellent idea. I would love the next branding CU to propose a solution for this. Understanding we can’t brand Dai as a digital dollar (or euro), because there’s no dollar in the back, but it’s like a better version of it
@Kathleen @Al_Leong2_Amazix_CMO @Planet_X @MarianoDP @seth

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Maybe analogous to travellers’ cheques (if anyone here is old enough to remember using them)? A note that claims cash equivalency, and draws its value from the reputation of the issuer/guarantor and the unconditionality of making good on that guarantee of value.

I’m not sure what the catchy branding name would be, but we can take the “better than currency” approach like travellers cheques did. They were incredibly successful as both a medium of exchange and a stable store of value, and acted as a substitute for currency

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It’s probably a good time to start thinking about it. My immediate concern is the legal implications of directly associating Dai with USD or other currencies in its name and I’m not sure exactly when we’re looking to more forward with EurDai.

I’d recommend waiting until we’re ready to do something with EurDai to implement this messaging because I think making plans to go from Dai to USDai and EurDai (for example) would be simpler and more effective than rebranding Dai to USDai and then launching EurDai. That said, that’s not a hill I would dai on if the community wants to proceed otherwise.

I like that approach. I’m not sure what a good analog for 2021 would be but I’ll give it some thought.

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Show a chart from 6/1/20 to now of the market price of DAI, then that of BTC.

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DAI Dolar Digital Or, El Dolar Digital DAI :smiley:

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I like this

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It is very easy to recognize DAI’s function by these short sentences, I like it.

“USDai”?

We’re hamstrung if we have a dollar-pegged token but can’t reference the dollar.

Travellers’ Cheques: I remember those :slight_smile: We’re effectively back to the wildcat money discussion here (which is ok: on the internet, everyone loves cats), or more broadly talking about Dai as a form of eurodollar.

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