Proposal: Asia Pacific Working Group (APWG)

Proposal: Asia Pacific Working Group (APWG)
Title: Proposal to establish the APAC Working Group (APWG)
Status: Request For Community Feedback
Decision Process: As per Proposed Decision Making Process
Authors: @pujimak_in @lanks @tudou @lee0007
Reviewer: @Pepperoni_Joe @DarkForestCapital
Created: 17 September 2021

Summary

We propose the creation and Q4 funding of an Asia Pacific Working Group (APWG) for the three months from 1 October 2021 ending 31 December 2021. As an independent and autonomous working group, we will work (in consultation with existing WG) to position APWG as a self-sustainable, growth engine by delivering value quantified in terms of increased awareness, net inflow, and minimised costs as measured in relation to our North Stars & Core KPI’s [ADD: Link to Growth Performance Baselines & Measures]

Strategic Objective: Deliver quantifiable value ≥ 5 x APWG Operational Budget $ [ADD: budget when finalised]
Key Considerations: Geographic expansion requires translation of existing resources - our focus is Mandarin. APWG will work with respective working groups to identify, prioritize and progress translation for documents that relate to our Q4 objectives. [EDIT: markdown removed to shutdown internal document links]

Background

What has been done?

Recognizing that community and working group calls serve a vital function within Index Coop (IC) in June 2021, we sought the opportunity to “develop an APAC community and ultimately move towards establishing an APAC working group”.

At the time, most IC community members were (and remain) located in the US and EMEA regions. Subsequently, calls designed to keep the community up-to-date, informed, and aligned were scheduled across US/EMEA time zones, making it challenging to engage the growing number of APAC community members.

In the weeks since inception (6 July 2021), APAC community calls have shown a steady increase in the number of participants and contributors. We had 11 participants at the most recent meeting on 14 September, up from an initial five and now consistently upwards of nine.

What Worked?

Our relatively small and agile team have collaborated to:

  • Identify and prioritise market entry points and align community members with these markets
  • Identify trading habits, key media agencies and news outlets within the APAC market
  • Support relationships with Institutional, High Networth, Venture Capital and Retail investors
  • Coordinate APAC review and feedback for Index 2.0 workshops
  • Promote IC products in key communication channels in the market.
  • Language Ops contributors set up official WeChat and Weibo channels as part of the regional content marketing strategy to boost the visibility and reputation of IC’s index products and serve as a funnel for talent, retail and institutional investors from Chinese-speaking regions.
  • Other language activities to further expand global reach of Index Coop products
  • Establish a strategic direction and workflow (Notion) for delivering Q4 objectives
  • Establish performance measures and Key Performance Indicators (KPI’s) for the APWG in line with IC North Stars, Core KPIs and channel metrics
  • Identified responsible contributors to ensure open, transparent and cross-functional communication.

What Needs Improving?

  1. Accountability: we need to establish accountability for achieving product, community and contributor growth.
  2. Communication: we need to formalise clear and open lines of cross-functional communication and share this responsibility.
  3. Community: we need to strengthen a sense of belonging, coordinate and leverage the wealth of talent within the APAC community.
  4. Planning: we need to plan for future development to capture the potential growth of deFi within the APAC region.
  5. Compensation: we need to fairly compensate APAC contributors so that they can be held accountable for progress against our proposed KPI’s.

Situation

What are you proposing?

We propose the creation and Q4 funding of an Asia Pacific Working Group (APWG) for the three months from 1 October 2021 ending December 31 2021. The APWG will be composed of four vertices and function in consultation with the following four working groups.

  • Business Development
  • Institutional Business
  • Growth
  • People Organisation & Community

Key contributors will be responsible for alignment with current working groups to;

  • Ensure clear communication
  • Maintain alignment of purpose and goals
  • Minimise duplication of effort/cost

What is the core problem(s) you want to solve?

Index Coop is experiencing hyper-growth both in terms of AUM and the size and spread of our community. This is a positive result of the high-performance and results-orientated culture we strive for - however, growth, for any organisation, is a double-edged sword.

If growth is constrained, we will fail to achieve our mission to become the Blackrock of Crypto. On the other side, hyper-growth could become unsustainable without the leadership, systems and culture required to support forward momentum.

The formation of the APAC working group is an effort to plan and prepare for the inevitable growth opportunities we see within the APAC region. To capture market opportunity, we look to provide solutions for:

  1. Geographic Expansion: we hope APWG might provide proof of concept (PoC) for creating multiple, geographic-specific working groups, each functioning as independent and autonomous teams. We believe this form of organisation will facilitate efficient, effective geographic expansion.
  2. Organisation Support Structures: as APAC activity expands, responsibility and accountability will fall to APWG instead of existing IC WG leads.
  3. Timely Decision Making: We can seize opportunities and mitigate delayed decision-making due to time-zone differences with funded autonomy.
  4. Market Growth & Development: in line with the North Stars and Core KPIs, we work to increase awareness, influence consideration and facilitate investment for IC products.
  5. Community & Cultural Autonomy: we seek to identify, nurture and retain talented advocates and IC contributors, to increase autonomy for APAC contributors and reward results.
  6. Efficient Communication: we intend to formalise, streamlined cross-function communication to ensure the APAC community is up-to-date, informed and aligned with IC’s vision, purpose and mission.

Why is this worth addressing today?

A 2021 report by Messari on Asia’s Crypto Landscape shows the vast market opportunity APAC presents.

Leading crypto countries, such as China, Japan, Korea, Hong Kong, and Singapore, have deep pools of liquidity, while other countries have a great potential to scale. The nature of traditional finance has played a key role in the adoption of crypto: capital controls pushed investors towards cryptocurrencies in China and South Korea, while low-yields pushed adoption in Japan. YE June 2020 Asia accounted for 43% of global cryptocurrency activity, or US $296 billion in transactions. Asia has an outsized role in the crypto markets due to a variety of reasons. Each country has its nuances, but factors include high penetration of public market investing, high-technology pedigree, the prevalence of WiFi, deep penetration of e-payments, propensity for gambling, and a high percentage of computer science graduates.

This region has substantial untapped potential in terms of both market development and the talent required to drive growth. Establishing the APWG is important to address today because;

  1. First-Mover Advantage: as a leading DeFi Protocol in a market that accounts for upwards of 40% of global cryptocurrency activity, the first-mover advantage could be lost within months.
  2. Geographic Expansion: bridging the gap between east and west ecosystems should be a priority for Index Coop, as we strive to make crypto easy and accessible. Our team seek to identify and foster new institutional and business development relationships in the APAC region.
  3. Accountability for Growth: we need to formalise accountability, support growth and set clear objectives to grow the APAC market.
  4. Decentralized Autonomy: we seek your trust signalled by granting us the autonomy to set direction in this region based on cultural alignment. We require funding to plan, coordinate and implement work and to research, identify and secure opportunities as they arise.

How will you address it?

Our first approach was to prioritise geographical regions and respective metropolitan hubs to connect and engage with communities and deFi sectors.

  1. East Asia || Primary Hub - Hong Kong, China
  2. South-East Asia (ASEAN) || Primary Hub - Singapore, Singapore
  3. Oceania || Primary Hub - Sydney, Australia
  4. Central Asia || Primary Hub - Bombay, India

Business development opportunities in other regions (Thailand, South Korea, Taiwan) are ongoing yet not a strategic priority (yet)due to limited resources. [EDIT: to reflect the above list is not intended to exclude any APAC country]. Work is ongoing to identify trading habits, key media agencies, and news outlets within the APAC market to prioritise key media relationships to support product marketing. [EDIT: Simplify] We proposed to undertake the following broad functions through data-driven decision-making and a relentless, results-orientated growth focus.

  1. Business Development Research, Strategic Planning & Coordination
  2. Institutional Business Research, Strategic Planning & Coordination
  3. Localized Product Marketing Content & Events (AMA +Airdrops)
  4. Community Growth & Capacity Building

We believe these four working group areas provide the minimum viable level of support needed (as of this proposal) to underpin IC expansion into the APAC region. We recognize it remains necessary to collaborate with all other working groups and expect to undertake the following activities:

General Activity: Project Leads

[EDIT: markdown removed to shutdown internal document links]

  • Plan, prepare and report to APAC community, and DAO calls
  • Attend associated leadership & strategy calls and workshops
  • Share IC vision & mission, goals & achievements
  • Recognise, celebrate & share wins
  • Develop forum posts and proposals for community consideration and feedback
  • Analyse, measure and refine growth performance
  • Report performance, refine, adapt or pivot as required

WG Specific Activity: Contributors

[EDIT: markdown removed to shutdown internal document links]

APAC Business Development, Research & Strategy

  • Integrations/partnerships with DeFi protocols
  • Establishing relationships with digital asset custodians and market makers
  • Recruit Internal Methodologists to launch community-led indices

With several potential collaborations in the pipeline, APWG will continue to research, identify and secure growth opportunities. The team maintains a solid relationship with Ontology Protocol and recently secured IC token listing with ONTO X wallet. This partnership includes a growth marketing AMA session (tentative date: 24th September).

APAC Institutional Business Strategy

Infrastructure Building

Institutional Education & Awareness

  • Index Coop Sponsored Events
  • Conferences
  • Investor Relations Resources
  • Online Events

IB Team currently supports two regional investors - LD Capital & DeFinance with the recent Treasury Diversification. We also support ongoing efforts to increase institutional and retail participation with the APAC based KuCoin (CEX) through further research and stakeholder engagement. A research-led approach will help us develop a more systematic approach to opportunity assessment.

APAC Product Content Marketing

  • Customisation of IC resources to promote, educate and raise awareness of our growing suite of institutional-grade products.
  • Region-specific events to promote, educate and raise awareness of our product suite.
  • Media research and outreach

NOTES: Due to APAC’s diversity of cultures, there remain many disconnects between current content marketing strategy and APAC’s institutional, HNW and retail investors. Currently, Chinese content production is constrained by the lack of budget to expand their content production team. We seek funded autonomy to set the direction for region-specific content development and event marketing.

APAC Community, Culture & Capacity Building

  • Contribute region-specific recommendations for onboarding & orientation
  • Offline Engagement, Networking & Promotion
  • Community management (& gamification)

With some customization of the onboarding process, APWG would initially focus on university and young professional communities to engage with finance, research, engineering, and entrepreneurial talent. By growing our community, we expect to develop a network effect to cost-efficiently increase awareness, grow an engaged community and ultimately increase the number of unique holders.

What Impact Will this Project Have?

Q4 Objectives
[EDIT: markdown removed to shutdown internal document links]

Increase # Unique Holders by growing our community while developing contributor autonomy and effective coordination and alignment of people’s skills and interests.

POC (People) focused on the development and retention of contributors owls through the use of APAC customized language and research-based onboarding activities (jobs board) [EDIT: to specify research-based and reference jobs board]

  • [KPI] # onboarding and attaining Owl Levels
  • [KPI] % growth from baseline

POC (Organisation) focused on supporting new contributors to develop context, depth of market and product knowledge and empowering high-impact contributors through increased autonomy

  • [KPI] # of Levels 1 Level 2 contributors supported to identify and deliver value
  • [KPI] # of Level 3 Level 4 contributors working autonomously to deliver value

POC Community outreach focused on knowledgeable audiences such as University Finance & Technology students

  • [KPI] # new members (initially low due to needing to develop onboarding funnel)
  • [KPI] Target 15% representation of women/non-binary contributors (3% above industry standard)

Increase $Protocol Revenue & Increase # Unit Supply: Stage 1 focused on developing a research-led sales funnel (onboarding) to increase contributor knowledge and autonomy to identify, build and secure IB BD opportunities in the APAC Region.

  • [KPI] # New IB BD opportunities identified
  • [KPI] # Strategic Relationship established/progressed by IB BD team
  • [KPI] $ Growth of TVL on APAC Exchanges &/or Net Inflow

Increase $ Aggregate Trade Volume: in consultation with LOWG and GWG, APWG develops in-market expertise to inform localized outreach, content production and audience engagement. Focus on raising awareness by developing regional content and events

  • [KPI] Increase APAC % of Trade Volume
  • [KPI] # Event participants
  • [KPI] # Impression for content & media
  • [KPI] # Emails collected

Request For Funding

NB: This section is a work in progress and will be updated to reflect community feedback around the work we plan to undertake
Estimate [EDIT: markdown removed to shutdown internal document links]

Category October November December Total
Salaries and rewards $INDEX $INDEX $INDEX $INDEX
WG Lead (Index Stipend) TBC TBC TBC TBC
$ $ $ $
Full-time contributors $11,000 $11,000 $11,000 $33,000
Contributors rewards $5,500 $6,000 $6,500 $18,000
Total Salaries and rewards $16,500 $17,000 $17,500 $51,000
Expected headcount each month 6 7 8
Contributor Reward (Average) $2,750 $2,429 $2,188
Additional Costs
Conferences & Events $1,250 $1,250 $1,250 $3,750
Partnerships $500 $500 $500 $1,500
Marketing & Promotions $1,500 $1,500 $1,500 $4,500
Total Additional APWG costs $3,250 $3,250 $3,250 $9,750
TOTAL REQUESTED BUDGET $60,750

Organization - How Will it Work?

Collective Growth & Trust

As an independent and autonomous working group, APWG aims to organize and collaborate based on:-

1. Relentless focus: We will continue to ask ourselves what does/doesn’t work, what should we do that’s new, of impact to the North Star, Core KPI, and very specific to our region.
2. Trust & Action-Orientated: trusting in one another’s ability to deliver, we work to Get Stuff Done (GSD) and interact with others on the understanding that everyone is busy driving our collective success
3. Radical Candor: As a diverse melting pot of cultures, we will apply the concept of radical candor to guide our approach when providing and receiving feedback.
4. Assume the Best of Each Other: Intent can be easily misinterpreted, especially online. Therefore we must always assume communication comes from a positive place of desire to help and connect.
5. Self-Identified Autonomy: we are taking an experimental approach to empower and build contributor autonomy by applying a framework for members to self-identify their level of autonomy in relation to six key interactions

Key Interactions & Autonomy

APAC Contributors

Working Group Lead

Project Leads & Contributors

@Pujimak_in will lead the APWG. Projects and subregions will be led by a core contributor with a track record of impact. The working group members will be accountable to execute APWG objectives as per a self-identified level of autonomy.

  • L1 L2: leads are responsible for supporting and seeing that contributors deliver value according to APWG objectives.
  • L3 L4: high autonomy contributors are responsible and accountable for delivering value according to APWG or organizational strategy.

The APGW Lead will decide on the performance and payment of core contributors, while APWG Lead + Core Contributors will co-decide on the performance reward of subregions/project contributors.

What will you be doing?

Refer General Activity Specific Activity & Budget [EDIT: 3 x markdown removed to shutdown internal document links]

How will you interface with the community?

  • Weekly Standup Updates
  • Bi-weekly APAC community call
  • A representative at a majority of western weekly standup calls
  • AdHoc Community calls as required
  • Publication of all expenses and contributor rewards
  • #APAC Channel on Discord
  • APAC KPI update in Monthly and Quarterly report

Our Commitments

We are committed to

  • Index Coop Guiding Principles and will use them as a reference point during challenging conversations to promote constructive conflict resolution and guide purposeful decision making.
  • Service to the entire Index Coop with our work.
  • Open, rapid communication style knowing that clear, constant, public communication lifts the entire Index Coop community.
  • Sharing progress and learning with the entire community and will ensure that anything we create is accessible beyond our tenure for future generations of owls to access & build upon
  • Intellectual honesty, growth and improvement.
  • Being open to feedback and will use feedback to improve our work for the benefit of the entire Coop community.
  • Community and making Index Coop a welcoming, fun, and engaging community to work in!

(EDITS: 17/09/21 multiple to remove internal markdown & formating: ends 18:00 GMT+12)
(EDITS: 18/09/21 Edit core contributors to project leads and contributors, contributors based on contribution to the APWG proposal, edit identified language and expand IB BD KPI’s)
(EDIT: 19/09/21 to clarify that listing strategic geographic priorities does not limit opportunities in other regions)
(EDIT: 20/09/21 - by Irsyad; Clarify and formating the Subregions + Primary Hub)
(EDIT: 23/09/21 - to add link to North Stars, edit POC objectives to specify “research-based” onboarding activities, and reference jobs board, added awareness to the strategic measures of value based on an update to growth KPI’s for aggregate trade volume, removed email KPI)

19 Likes

I would like to quote Simon from his speech addressed to ChainNews. ‘You can’t do it alone in New York City, Beijing, Shanghai, or San Francisco.’ And certainly, we are not doing it alone. APACWG is the first step towards a truly global DeFi establishment.

8 Likes

Love it! As a member of the APAC community, I fully support this proposal to experiment with the concept of granting more autonomy to geographic specific working groups.

4 Likes

Great work @lee0007 ,

Would love to see the Coop take the plunge on this group.

In addition to the huge untapped market potential, recent research is showing DAO participation is Asia dominated. I believe it would be extremely beneficial to give some fire-power to APAC to explore region specific marketing, growth, onboarding initiatives.

As mentioned in Discord, this proposal is going to have a significant impact on the Coop regardless of the immediate result.

Kudos @lee0007 , legend status.

3 Likes

Great work @lee0007! Global adoption of Index Coop products is critical. This is a massive market with unique needs that would be best served by region-specific content.

2 Likes

This is a huge steps toward Index Coop expansion towards becoming a global powerhouse. In the same time it’s always best to reflect how this came to be and we should acknowledge those who sets the groundworks for this.

Firstly huge thanks to @BigSky7 & @LemonadeAlpha for having the foresight to see the need for growth in Asia Pacific way back before there’s any APAC contributors in the Coop. Yet this was only Q1 of 2021.

Secondly to @Tudou and @Lanks for basically being the OG APAC contributors. Both joined the Coop sometime in April 2021, and since then they been killing in their respective fields (China and Institutional Business respectively). It’s because of this forum post that Lanks started back in end of June; that seeds this proposal. Do have a read to build context and see how APAC have grown since then.

Index Coop APAC

Thirdly, @mrvls_brkfst and @Pepperoni_Joe whom both were our previous Index Coop Community Managers, their work in bringing and coaching the new breed of Owls (plus that LangOps by Gavin) also drive the momentum for us APAC to start its own working group. Also personal thanks to @afromac for also seeing the potential of what we can become.

The journey thus far has been quite an hyper-growth for APAC. Just in Q3 alone, the likes of @Cavalier_Eth that has become an integral part of the Product Working Group, @bradwmorris levelling up our overall Index Coop Onboarding Process, @0xMitz joining the ranks of Community Manager plus having a passion for education. Truly Owls from APAC is making a mark in the whole Index Coop Community.

Also don’t forget newcomers @silverbuddha, @Louisaraj, @Vanita to mention a few; this are gems that you’ll see they will shine soon. Both in Business Development but as well the overall growth of the region. Personally I’m super stocked by the HUGE talent we have here in APAC.

Lastly, @lee0007. I’m so glad that this has work out well for you and the whole of APAC. Which I recall only 2-3 weeks ago, you almost wanted to call it quits. But an opportunity came knocking like how it came knocking to me back in July (thanks @DevOnDeFi); and you’ve been killing it ever since. You’ve become an integral part of Asia Pacific with your specialise skill sets. For that, I would say that this is one of my best decision thus far I made in the Coop.

I’m looking forward to the discussion with the broader community about this proposal, and my co-authors will also be there to help answer them as well. My personal aspiration for this APWG is to become the next gen of how WG should work and run. As a natural progression of a DAO as they expand.

Super stocked and have a blessed weekend ahead all.

Cheers~

9 Likes

Asia Pacific contains 48 countries. Only a portion of that is covered from that proposal. Some of the missing countries are very well “aware” of crypto, like South Korea, Japan and Taiwan. These three countries should be included in APAC, shouldn’t they?

We have seen recently a lot of “strange” crackdowns in China. How can we safely operate in China? How can we benefit from that? E.g., BTC was first almost only mined in China, then suddenly it was more or less outlawed. The IPOs of Alibaba, DiDi, … and the massive loss of the housing market (imminent bankruptcy of Evergrande with an expected US$ 300 Bn missing cash) in China COULD be a chance for small investors.

1 Like

Proposal is in no way intended to rule out /disregard any of the 48 APAC countries - Q4 is limited by our currently available resources and yet to be approved budget. If you’re looking to develop Institutional and business development opportunities in one/all of these regions you 100% can. The list reflects the strategy which was to identify and prioritise regions.

I have edited to clarify that: Business development opportunities in other regions (Thailand, South Korea Taiwan) are ongoing yet not a strategic priority due to limited resources. [EDIT: to reflect the above list is not intended to exclude any APAC country].

6 Likes

Hello @Elmit,

I believe this was answered there;

To say that we’ve excluded those countries isn’t true. As with the current resources we have, we’ve instead approached as subregion (East Asia) which includes the countries you mention. By identifying key cities/hubs within the particular subregion; we’ll be able to strategically planned and execute subregion specific ideas and plan.

Furthermore with Titan’s Of DATA that’s based in Korea (@Kiba), we see a huge potential of $DATA being the go to Index Coop Product in this region, once it’s launch. And we’ve also began collaborating in events that will help push the product (ie AMA sessions)

Secondly, just for added context @Lanks also have been pursuing CEX listing in Korea. Which shows that those countries aren’t neglected.

Personally we need to be strategic in our approach, which we are. Also agreed to what @lee0007 replied post to you.

I simply disagree with this. One of our investors (LD Capital) is based in China and the opportunities that they have helped us thus far is immensely value. For example, ChainNews Blockchain Live 2021; tapping to the market is in itself opens a lot of opportunities for growth. Also @Tudou and his content development team has been churning out content and engaging with the community in China using varies localised channels.

And with its BD team @Louisaraj & @silverbuddha assisting Tudou. They may have further context and will be better to add more to this. But essentially China is resilience enough, and I see a huge potential for Business Development and Institutional Business to thrive in this country.

3 Likes

EDIT:

Business development opportunities in other regions (Thailand, South Korea, Taiwan) are ongoing yet not a strategic priority (yet)due to limited resources. [EDIT: to reflect the above list is not intended to exclude any APAC country]. Work is ongoing to identify trading habits, key media agencies, and news outlets within the APAC market to prioritise key media relationships to support product marketing. Business development opportunities in other regions are ongoing but not yet prioritised due to limited resources. We seek autonomy, responsibility and accountability to drive growth in our region We proposed to undertake the following broad functions through data-driven decision-making and a relentless, results-orientated growth focus.

2 Likes

Do you think it is worth it to include the Philippines? Play2Earn is very huge in the country.
YGG, the biggest DAO in PH, (https://yieldguild.io/ | Yield Guild Games price, YGG chart, market cap, and info | CoinGecko) is doing well in bringing players to blockchain-based games.
Moreover, there are 2M Metamask users in the Philippines.
https://bitpinas.com/business/metamask-10-million-users-2m-philippines/

We can probably target local DAOs, P2E managers, and scholars to buy IC products for their treasury or investment.

Disclaimer: I live in the Philippines

5 Likes

Philippines is part of this. We actually see the value of Play2Earn strategy as well + any research on local DAOs, P2E managers & scholars would greatly help us refine the proposal even more.

Tagging @emil_eth as he already had some initial conversation with MVI Team (@DarkForestCapital) in regards to blockchain games and Metaverse. Which you can see on this post on INDEX COOP APAC post a while back and subsequent replies;

Basically Philippines is currently parked under South East Asia Subregion (Part of ASEAN). But yes noted on this.

Thank you.

3 Likes

Great work on this team APAC. This feels like a step forward in how Index operates; further infrastructure to activate more talent, increase the reach of our products and ultimately drive our AUM.

Linking this to ROI sets a strong precedent as a model for accountability and transparency, which shows the maturation of our resource allocation.

Strong support for the approach and proposal :clap:

7 Likes

I will be voting FOR. From the few APAC calls I’ve attended and interactions with various team members, I can say that our APAC team is filled with highly talented and focused individuals. The APAC region is ripe for growth, and there is strong interest in IC products, evidenced by the work done by @Tudou in China.
I am looking forward to the global presence the APWG will bring under the excellent leadership of @pujimak_in.

5 Likes

Thanks for the kind words and strongly support this proposal.

3 Likes

Great proposal, totally support this. Much needed for Index Coop’s expansion and becoming truly ‘Glocal’ .

2 Likes

Brief Table setting

  • I’m putting on my “Funding Council” hat to pose questions (See Q4 Working Group Guidance to learn more about Working Group proposal)
  • My intent is to ask the questions that ping in my mind with the hope that they help the entire Coop better understand the proposal and thinking behind it.
  • Questions are pretty much posed in the order the topic appears in the post
  • If a question doesn’t make sense or is entirely off-base, do call it out :slight_smile:

Curious, why is translation of existing resources the single “key consideration”?

It seems like this group has aspirations far beyond translations, so I find myself wondering why this is front and center.

That is exciting to hear that APAC community calls showing a steady increase!

As a thought exercise, if we wanted to double the number of participants from 9 to 18, what do you think would need to be done?

Baked into that ^ question is an assumption that increasing call participation is important. That assumption may be wrong.

I am noticing that some of the channels (including the linked Facebook & Twitter) are still quite early in developing a following.

Which channel(s) are believed to be the highest impact?

Is this ^ even a useful question? I could see one answer being, “it really depends on the specific country.”

No question here, just very interesting.

This seems like lot to tackle at once. Also, recognizing that they are each, indeed, important.

Which of these 4 areas does this group believe will need the most focus in Q4 in order to reach your goals?

Looking specifically at this section, a similar question. It looks like ya’ll intend to pursue 15 different activities.

As a thought exercise, what are the 5 activities that if focused on exclusively, you all believe will produce the most impact?

On Budget

  • Looks like you expect to add a few team members (“expected headcount”) – what roles are you all expecting to add? Why?
  • Partnerships - what exactly does “partnership” mean in this context?
6 Likes

Thanks for the thought-provoking questions @gregdocter

This I can answer because the inclusion of language as a ‘key consideration’ here is limited by my own thinking, as follows. With 48 countries, and more than 2000 different languages spoken content translation must be an ongoing, operational need for APAC’s geographic expansion.

What I’ve labelled ‘key consideration’ is really more of a caveat based on available funding. We need to figure out how funding/co-funding w. LOWG will work. It’s difficult to budget when can not say how much and what content will be created (&translated) over the next three months.

In a centralised organisation, the content strategy would be planned in advance and delegated but in a decentralised and autonomous organisation, who knows when our next Hemmingway @acceleratedcapital might come through the door?

If I had to draw a critical path to attain the lofty goals set out - community capacity building is first and foremost. Before we can grow the community we are working w. POC to increase the number of opportunities listed on the jobs board @bradwmorris is developing

Community calls are key to connecting, collaborating and developing operational context, however, we want to expand opportunities for people to get up-to-speed, narrow that confidence gap and operate autonomously between community call sync’s.

To that purpose, we are proposing a research-led ‘sales funnel’ for business development to help identify and secure opportunities in the region, while also serving the purpose to help people develop industry-specific insight and context for Index products market-fit.

Tagging our content champion @tudou

People are and will always be our #1 resource so IMO community capacity is the foundation we build from, in order to achieve anything - not looking to label anyone, resources defined in terms of our shared humanity. Great question for everyone to weigh in on @pujimak_in @Lanks @Louisaraj @Vanita

I believe these groups to be necessarily interdependent. We are looking to build community capacity for institutional and business development through the onboarding and research pathways (which I personally expect to sign up for too) while providing funding for the ongoing IB BD and Growth marketing work that the team already undertakes.

3 Likes

That is easy to answer. As American you are used to having one language for 328.2 million (2019) people. In APAC region we have 48 countries, whereby the most famous language is Chinese ( 1.411 billion alone in China, " There are many Chinese dialects in China, so many that it is hard to guess how many dialects actually exist. In general, dialects can be roughly classified into one of the seven large groups: Putonghua (Mandarin), Gan, Kejia (Hakka), Min, Wu, Xiang, and Yue (Cantonese)"
In addition, there are two sets of characters (simplified and traditional). While simplified characters are evolved from traditional characters, they are often not understood in the other character set.

The translation is therefore the first imminent barrier to get attraction in this part of the world.

Excellent question. See above translation! If people don’t know what they EXPECT, why would they participate?

Again, a follow-up to translation. Facebook, Twitter, or any other “Western” sites are hardly accessible in China. You need to look at the Chinese websites instead. I am not sure how far they are yet.

The main point for the APACWG is to have information available in a certain timezone so that we can spread the words in the language(s) people can understand. To get the foot into the door of a huge market, which product they had not seen before, BUT before our competitors are there first.

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What Ronald and Renee said were absolutely on point. There are a couple of things that I would like to add. Ethereum protocols, in general, have less adoption in Asia compared to the West. And consequently, we face stronger competition in this region while having modest resources, including socials channels we just started building two months ago, a newly assembled team of very few people, and a significantly smaller number of regional partnerships. Bankless and DeFi Pulse are the "household"crypto brands in Europe and North America, but they might mean nothing to someone from Thailand or Indonesia. In China and many South-East Asia markets, community awareness for passive index investing is close to non-existent. It is fair to say that APAC socials channels are underdeveloped. BUT! The other side of the APAC story is growth. Low adoption translates to high potential for growth margin. The IC community, including APAC contributors, should be hopeful of this market while remain patient. What works in existing markets might not function here. We might be surprised by which product becomes the most popular one in Asia. There are a lot of question marks, and to be honest, I do not know the answer to all of them. But it is 100% worth experimenting. I foresee APACWG as potentially the most agile WG in IC. Strategies and priorities could shift rapidly, in a good way. Currently, we know that several things have worked. First, treasury diversification investors are keen to connect us with local resources, including media outlets, DAOs and other potential investors. Second, wallet partners in this region provide us with a route to access their customers. These connections are likely to create network effects that we are yet to know of. Third, localised content has been a focus for LOWG, and APAC could tremendously benefit from existing translated content. Local BD teams are already using Chinese blogs as product factsheets when they get on investor calls with LD Capital and SevenX Ventures. APAC resources could be utilized to co-finance content efforts with LOWG or incentivise multimedia content outside of the scope of LOWG budget. What should we prioritise? All three are important, as we are still at an early stage where we are yet to isolate a specific strategy that drives the most growth.

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