ApeCoin DAO 🛠️ Leveraging the Apecoin DAO and the Opportunity in Asia - Yat Siu

foreign [Music] Global so I'm not sure what to expect there's no code over here which is a business business uh I guess Workshop I'm going to talk about two things one I'm going to talk about how to leverage apcoin Dao and then you know we're going to have a little announcement about the prize pools later on and also I want to explain about the Asia opportunity which I think is relevant since I'm finding that in this part of the world people do not know the opportunity that exists in Asia and there's a lot that could be done here all of you are building great projects you want to raise money you want to go and uh you know get new audiences Asia is worse at we think so let me just very quickly I'm actually wearing an apcoin hat today I used to be a special council member but you know very quickly I just telling a little bit about myself and the business uh you know we're very focused on digital property rights uh we've been trying to advance web3 for a while we've done over 450 investments in the space so yes if you are interested in getting some money for your web3 projects you can come talk to me and my team later on um and uh you know we're one of the sort of biggest investors in the space all right let's get into it Asia I'll start with that first so uh South Asia southeast Asia North Asia represents over 54 of the entire crypto market today and it's really growing very fast uh when it comes to total volume of trade India Thailand Vietnam Singapore our top and Japan um obviously Korea and Hong Kong are coming along very quickly and again they represent actually the majority of crypto Trading one of the reasons why Asia is so big in crypto is actually it's a digital first culture so you can't really see the screen quite well here but what you see here are basically um two uh two Beggars actually all beggars in China basically back with WeChat pay so instead of asking for cash they ask you to put money in their digital wallet and that's been going on basically for years and years and years um and so This Is Not Unusual so the culture is so digitally first that everything is very natural to basically go into sort of a crypto culture as a result pop in terms of hours spent online but here's the opportunity Asia represents about 54 actually more now percent of the world's Global Internet which obviously is critical for people doing stuff on the web um there's more than half of the world's gamers are in Asia at this moment in time and it's growing rapidly but in terms of adoption still there's only 67 so roughly two-thirds of the sort of uh internet penetration in Asia so this is in contrast to the US for instance or Europe which has almost full saturation so you have a market that basically is already the biggest Market when it comes to internet penetration and crypto adoption but like in places like Vietnam it's actually 17 of the nation but when it comes to uh actual growth path it's not just the fact that people adopt in crypto it's also that people are experiencing basically the internet in a digital first culture and nature for the very first time because they're still being onboarded and one of the other areas of onboarding uh also comes from the fact that Payment Systems in Asia actually have a real good sort of crypto rail necessity because of the fact that that there's a big portion of people in Asia that remain unbacked because they're basically not making that much money whether they're in Philippines you know they get the stories or you know if you heard about axi Infinity many people signed up basically for crypto wallets over there to play the game but they didn't have a bank account uh they were technically unbanked they didn't have any you know like Financial education if you don't even have a bachelor's degree you never went to college and here there are basically you know buying crypto and basically playing a you know blockchain play to earn game for example so that sort of represents that opportunity in places like southeast Asia which continues to grow rapidly um and also in this year in the coming year is pretty much all of the global growth is going to come from the region so this is a macro Trend so it's not even just a specific crypto Trend it's a macro macro Trend Asia is going to represent roughly 70 of global growth this year and continue to grow from that so again you know it's a it's a market not to be ignored but there's some other things that are relevant um to think about which is also the regulatory climate unlike you know there's been a lot of focus on looking what the US is doing obviously the Ripple cases good news for most people but generally speaking unlike the the US Asia's regulatory climate for for crypto and digital assets has become much clearer and much more friendlier so for instance in Japan you can actually do a legal ieo that's approved by the jfsa which is a financial regulator you can actually happen that you can actually do that through a proper process that's probably the only country or one of the few countries in the world where you can do that uh you know the you know outside of Singapore Hong Kong has been very forward as well in terms of basic crypto regulation you can basically get exchange licenses you will have Clarity in terms of retail trading which I'll go into some further details and I'll explain a little bit why that is the case but even places like Japan have made web 3 and the metaverse part of their National agenda so you have a very friendly regulatory climate on top of friendly user adoption versus other markets so again I urge people to take a look at that so these are some of the major hot spots I'll make this presentation available online so you can you know have to take notes but I think the one thing to note here is particularly for Hong Kong and I the reason why I think Hong Kong is so valuable now is because it's not just about what Hong Kong does it's really about China in some ways which I'll explain later Hong Kong has now put together a web 3 task force that task force con comprises of Business Leaders in the industry including myself as well as people from government whose main job is to basically push web 3 and metaverse development in Hong Kong there's also a marketing budget it's about 50 million Hong Kong it's about six or seven million dollars so if you want to make an event if you want to sort of promote stuff in web 3 you can actually get money from the government to do that specifically for web3 so so again you know this is the other thing which is interesting it's probably the only um only regulated in a world that has sent a message to their Banks and said you need to do business with crypto exchanges so just imagine imagine you know the U.S treasury doing something like that sending a message to Citibank saying hey you got to do business with you know coinbase and stuff right not going to happen probably but in Hong Kong the hkma basically went out and sent messages to you know basically Bank of China HSBC and told them you need to basically support crypto businesses in Hong Kong so again at first the hkma also issued um which is the monetary Authority also issued the first tokenized green Bond so that's just to demonstrate just how aggressively they're trying to push web3 meaning that if you still can't open a bank account wherever you are in the world as a crypto business you can try Hong Kong okay so outside of licenses there's crypto ETFs you can actually buy Bitcoin ETFs basically in uh at HSBC today uh you have basically a retail trading framework there's now 16 tokens that are available for retail trading in Hong Kong more importantly though there's a very clear way in which your tokens can trade in crypto so unlike the lack of clarity that you might have in other places around the world as long as the tokens are listed in two major indices you can basically apply for essentially having the token be traded for retail trading in Hong Kong for instance and Hong Kong is the fifth or sixth largest financial sort of uh I guess Center in the world so again we're not talking about sort of you know you know it's like a like a small place that's adopting this this is a major major uh sort of area that's adopting it so we think this in the next year a lot of growth will happen from there now why is this relevant well Hong Kong has always been the financial intermediary for China in the same week when these rules came out and when retail trading was allowed in Hong Kong which was in June Beijing released a white paper for basically Webster Innovation and development which is basically a strategy paper on web3 where which they actually specifically said that web3 is the future of the you know internet so Beijing is putting quite a bit of capital and money in to promote basically blockchain and web Redevelopment which is very confusing for a lot of people because people sort of conflated the issue of China as oh aren't they anti-crypto and so on now we can maybe discuss this a little later um but I think the other thing which is relevant is that on for those who know about China CCTV which is basically like the national broadcaster that every Chinese person sees in China basically started talking on public TV in that same week how you can buy Bitcoin in Hong Kong so you know what does it really mean well I mean I think one of the big trends here is about the fact that China is looking to promote we think this whole digital asset space but through Hong Kong in the same way that Hong Kong has always been the financial intermediary for China you know for foreign sort of stock purchases for foreign exchanges in terms of currencies and so on so so we also think that that becomes a mechanism where it will ultimately people from China will be able to sort of participate in the digital assets Market but through Hong Kong um so that's that's again you know where we think a lot of the growth will happen and of course another big thing is that ape Fest is coming to Hong Kong in November so if you haven't made plans to come visit go check it out since we're going to talk about Bitcoin very soon and that's also the same time when we have basically a fintech week which is uh the week in which you have a lot of General sort of web 3 activity happening in that time so expect a pretty good time if you can make it on Hong Kong places you know outside of talking to companies like us you can go to invest Hong Kong they'll you know they'll give you support sometimes they pay for your tickets uh you know for you to come to Hong Kong to do stuff so again they're trying to sort of help you come there it's probably the one of the most active governments right now that are trying to promote web3 so this is your opportunity to take advantage of um if you if you're so interested and of course there's accelerators in Hong Kong and so on I won't go into the details of this but again if you want more information I'm happy to share that later now why is Asia so friendly to web3 I think this is important when we think about product Market fit and about sort of philosophy a little bit so I'm talking about this here in the context of Asia this is an example of Korea but the same is true for China for Taiwan you know for Southeast Asia about 40 or 50 years ago South Korea which you all know today you know because of BTS and you know K-pop and all that type of stuff was actually a nation that was poorer than North Korea it was one of the poorest nations in the world but not today it has a GDP of probably the 12th or 13th largest country in the world and why is that well that story is the same story for most Asian countries during that during that during those decades because they adopted property rights uh they embraced a form of I guess Democratic principles and they basically went capitalist and that was a very big deal so in living memory no for instance my parents generation and for most let's call it Asian called it Chinese or Korean people uh or Southeast Asian our parents didn't have anything they didn't own anything you know they lost their property they didn't have any rights whatsoever and they got they saw the benefits of capitalism so even if there's inequity they actually generally are big Believers in capitalism they'd see it work it doesn't matter if this person makes more money than the other person broadly speaking we do better this is important to understand because it means the framework in Asia is the pro-capitalist which is how we look at crypto is a kind of digital capitalism the other thing is because of the last 30 or 40 years in Asia there's been a lot of instability this has caused you know because of Civil War because of the cold war because the Vietnam War the Korean War all these things have caused a lot of immigration from from these places to go outside of the world to look for better pastures but at the same time also a lack of security so that means they're all looking for ways in which they can enhance their self-sovereignty so one of them is to buy real estate overseas that's a very classic I guess Chinese thing to do but the other thing is also to have uh sort of other forms of self-sorverity which crypto starts to represent I can hold my own assets self-custody of my digital assets you know the government can take it away these things start to become very important and also payment rails that I can control as opposed to being gated so again that's another reason why crypto is so popular this is in stark contrast to what we see in places like the US for instance which over the last 30 years has moved away from you know like this pro-capitalist narrative which is still you know America could still be called I think the center of capitalism except for you know the in the recent study I think was a Pew study showed that you know Americans under the age of 30 majorities started to skew socialists whatever that might mean to them because capitalism hasn't worked for them and so we see this effect so for instance in Asia all major gaming companies are pro-nft right whether it's Square Enix whether it's you know Craft on the makers of pubg Nexon Ned marble us whatever all these companies are all pushing nfts and web 3 and digital ownership whereas in the US it's the opposite right many of the gamers are rejecting it and we think it doesn't come from a perspective of sort of you know what they're it's a very emotional response their rejection on on sort of um crypto is more about a rejection on capitalism broadly on this sort of idea that you can make money playing games that seems wrong and it seems wrong that you know someone should be able to sort of pay their way into it which is very different from from the Asian perspective so the thing we sometimes say is that the American dream is more alive and well in Asia than it is in the US so I think it's again an area to look at for for growth and opportunity um and I think the final thing I'll say about Asia before I start talking specifically about Bitcoin is you know obviously there's an ecosystem there you can raise money from it there's very active VC investing but also that influence that Asian let's call it I guess capitalist uh sort of property rights narrative uh has spread through the Asian diaspora so we're in France there's more so the example here would be there's more age there's more overseas Chinese as in Chinese diaspora than they are French citizens in France so just gives you an idea of just the scale and size and of course there's many more Indians and Japanese and Korean and they all sort of embody that same um they ought to embody those same values and they communicate back with their sort of you know families back in their countries and so they create that bridge and it's therefore not a surprise that from a ratio it is those same communities that also have a higher proportion of crypto ownership or nft ownerships for instance Asian Americans have a higher proportion of nft ownership for instance in crypto ownership than to say other other groups as an example and again it comes back to sort of sort of that that cultural past that I just described before all right so that's Asia pay attention in case you're interested now let's talk about dowels I'm going to focus on apcoin dial but I just wanted to illustrate why Dows us are relevant for this it's not just maybe because you want to build a dial but also because dowels are funding avenues for your businesses uh there's about 160 active dials or so give or take um you know in web 3 and the collective amount of money that is under the Community governance of these dials is somewhere between 12 to 14 billion dollars which is very significant so you could look at raising money for your business you know in a classic VC route you can ask your Mom and Dad too of course or you can try a Dao and so I'm here to sort of give you a little bit of sort of insight as to you know in the case of eight point uh how you could possibly raise money from them and you'll you know budgets have been approved in the millions of dollars but also in the tens of thousands of dollars and later on we'll hear about a you know prize of ten thousand dollars worth that you can earn but you know you could you could get so much more if you are able to sort of sort of appeal to the coin down all right so am I out of time oh shoot I cannot damn all right okay go faster so um working group structure you know basically you've got the special counsel I will name them all the out there the role of the special counsel is basically to vet essentially many of the proposals that come through but maybe I won't talk too much about the governance if I spent too much time on Asia but let me just explain to you maybe the process when you want to make a proposal you basically submit an idea to the um to the dial there's basically in discourse a proposal where you basically discuss it with a community that can be very active which I encourage you to take a look at that then enters into draft stage the working group basically helps you with the Drafting and then it basically goes to a vote in which it couldn't hold us basically vote uh to basically the proposals approved I would say it's a little bit like political lobbying you know these are the proposal categories you can go to basically you know eightpoint.com and learn more about it there's multiple allocations and multiple sort of missions one of the things that is really important is when you go and apply for funding in this style you have to ask them sort of how does it benefit the Dow ecosystem now this I think is the one point that's not often discussed and not often written about which is that if you want to basically get a vote passed you do have to basically engage the community you do have to basically not talk about just individuals but also address the delegates right and the delegates are the ones who are basically like your you know quasi super Pacs basically of of apcoin and that's uh that's something means you have to engage with them and talk to them and essentially I see it as no different than you basically appealing to venture capitalists except in this case you're going to different delegates and appealing to the end to the to community as well you know to vote for your proposals um you know okay so I'll just skip through this this is an example of uh sort of something that was approved in the coin Dao you can basically um this is basically thank thank ape so when you it's a when you end up doing something in the Eight Point Community you get rewarded activities and you get rewarded in Bitcoin uh to sort of increase the engagement uh here's something that's a little bit more tangible it's an accelerator that was approved for half a million dollars in funding or if you were building some something with apcoin you can basically get half of them you know they were funded with money to basically fund and accelerate a program that would basically support you know apcoin uh projects or projects that utilize a coin for instance and of course we have a proposal that was also approved that basically allows Acorn to be here it is global for instance for marketing and and so forth um yeah so there's many ways to get involved at eight point dial um I know that I'm short on time right yeah so we moved to q a so my apologies um I thought not sort of um spending more time on Asia than on a point but maybe if you uh do you want to announce quickly the prize we're giving away ten thousand dollars in prizes there's two different categories so one is uh the best use of eight win and adapt and so think about eight points like more like a consumer application I mean you talked about Asia and payments a lot like anything related to that anything related to Consumer gains uh in-game currency things like that and then the second category is something that that um contributes to the ethereum ecosystem but in a way that also benefits nfts and the acorn community so think about that as like six five five one nft ownership or for account abstraction 437 anything related to security things like that so uh each each category gets five thousand dollars we're giving away five thousand dollars in each um it's gonna apply to either and then just a little bit really quickly on just the technical stuff around eight coin so it's an erc20 uh it's there's a there's a test token on Gurley in order to um qualify for the prizes if you do use eight point you can use it on polygon you can use it on test that you don't have to deploy it on Main Nets that's fine uh and then any I guess something else and that was a how do you keep the community engaged during a bear Market because I've actually talked to a few doves and the engagement is like all time low right now and there's like maybe five percent were actually contributing whereas like the rest of them are just like writing GM once a day and that's well um thankfully in the case of Bitcoin I would say that the community is quite active we just finished our last special Council election uh where I basically stepped down and we had a few new members two new members join and uh we've had almost I think it was 25 to 26 million uh sort of tokens voted which is you know today's equivalent value of about 50 or at that time 60 million dollars so it's still quite active part of it has to do with the fact that I think apcoin has become quite mature in terms of its working group structure so when I gave you this example here you can see that there's an actual sort of community structure which isn't just upheld by essentially a special counsel Group which you could almost consider like a leadership which in the case of special counsel it is not at all but you have working group levels at these levels you have different teams you know the metaverse team and the treasure team they're actually elected members so every time so the way I think of a successful Dao is the more you create more democratic rails as in you force people to say look I'm electing this person in this position to run in a certain way they become campaigners of that as well so they engage the community I think one of the problems that a lot of dows have is they don't have actually that much um let's call it true distribution shall we say right there's often criticisms that some of these dials have sort of a few holders that can control the vote for instance as well at that point it's not really a Dao it you know may appear to be like a doubt but it's actually not that different from you know like I guess you know some people call themselves Democratic but they're not truly Democratic so I think it's the same same thing and when people become cynical and I would say that for the Bitcoin in the beginning people were cynical but if you take a look at for instance you know the delegates here as an example this is just the top I mean there's a lot more and there's a lot more voting power you know even you know if you look at the special counselor selection 25 million tokens are voted the top delegate um with mocha versus about 1.7 million tokens yeah sure it's a big chunk but it's still a very very small Chunk in comparison to swinging sort of that vote so I think that is um that is important so I think people feel like they have a voice I think that's the most important thing I think in any Democratic structure which you know in the case of a Dao would be the same finally of course it helps that you have a billion dollars of potential funding in a Dao right so if you want to raise money from the Dao then you know there's a good incentive to do so and the community turns out to be quite uh quite um quite careful right this criticism that oh you give this to you so don't give it to professionals they're just gonna go with throw money at parties turns out to be all which is what we thought anyway right in fact the community is very Vigilant you know proposals that are trying to raise money that are ridiculous never get approved for instance um so it's just an example that actually sort of wisdom of the crowds does work very well when applied correctly okay that's all we have time for thank you yet thank you