Tylor - Contributor Proposal - Marketing operation in Korean market - MAY

Hi, community members. It’s Tylor frin Blitz-Labs.

In this proposal, I will summaruize the marketing activity in the Korean dHEDGE commuinity in May

A. Status of Korean Telegram Community

  • Main Activities

    1. Share & post every article/post from dHEDGE’s Social accounts
    2. 24h Management (12:00~20:00 Active management)
    3. Community feddback collection
  • Korean community status

    1. Total number of members - 905

    2. Major topics

      • dHEDGE Manager pool
      • Moonlight Release Call
      • Made an NFT
      • dHEDGE Market
      • Proposal for operating Manager Pool

B. Exposure Activities (dHEDGE in public Korean crypto groups)

  1. dHEDGE uploads twitter space of Moonlight [1.5k]
  2. dHEDGE, tune in to a live App Demo session [2.7k]
  3. dHEDGE announced partnership with InsurAce Protocol [2.8k]
  4. dHEDGE user Edson Ayllon, DFP-29: UST removal Proposed [1.9k]
  5. dHEDGE partnership with Arrakis Finance [1.8k]
  6. dHEDGE interviews on YouTube’s CryptocoinShow channel. [2.8k]
  7. dHEDGE runs 2 Office Hours at discode [2.8k]
  8. dHEDGE, Introducing 3 notable features of the new leaderboard [1.7k]

C. Translation of dHEDGE blog posting

  1. New Integration: Arrakis Finanace

D. Insight on the current Korean market

  1. Domestic Law Bill News / Non-crypto Industry / Macro Trend
    On May 24th, the National Assembly hosted a meeting to discuss the enactment of the Digital Asset Basic Act and the regulations to protect the investors in the virtual asset market. Financial Services Commission revealed 1) to examine the regulation plans of stable coins and DeFi and 2) to establish a regulation system by distinguishing virtual assets into security types and non-security types. Financial authorities also disclosed some measures to protect investors, such as employing insurance programs for hacking attacks & system errors and redeeming profits from unfair transactions.
    In the meantime, the Fed revealed its FOMC (Federal Open Market Committee) report that to control the inflation rate, the members of the Fed decided to maintain the increase in interest rate, by 0.5%p. According to the report, the participants of the meeting unanimously agreed that the prolonging Ukrainian War and the COVID-19 lockdown in China devastated the economy in the US but also the world economy.
    Furthermore, the correlation between NASDAQ and cryptocurrencies has recently started to show symptoms of decoupling. In the past, the rise of NASDAQ was often coupled with the rise of overall cryptocurrency prices and vice versa. On May 27th, however, despite the rise of NASDAQ by 3.3%, Bitcoin and other cryptocurrencies have fallen, showing signs of decoupling. Investors analyzed that such symptoms could indicate the rising number of investors exiting the cryptocurrency market. With the Terra incident proving once again that cryptocurrency is indeed a high-risk asset and the absence of rebound momentum, such market situations are expected to be continued for a long time.

  2. Korean Exchange / Cryotocyrrency Company News
    Following the UST de-pegging incident in Terra Network, the five major Korean exchanges (Upbit, Bithumb, Coinone, Korbit, Gopax) all decided to delist LUNA (Terra’s native token). Upbit, the most well-known exchange in Korea, was the latest to prohibit deposit/withdrawal of LUNA, which subsequently added more fuel to the flame. As the victims of the Terra incident filed complaints with the Korean government for financial and securities crimes, the government is most likely to first investigate into Terra incident.
    Meanwhile, even though more than 90% of crypto-communities have expressed dissent, with a small number of validators who held the largest amount of LUNA passing the vote, Luna 2.0 has been resurrected and, in the near future, will be re-listed on Korea’s five major exchanges. Despite Luna 2.0’s airdrop announcement, the new LUNA could not avoid the sharp plummeting of token prices due to the aggravated market conditions and community atmospheres.

  3. Community Keywords
    The keyword that was tossed around the most among the Korean crypto communities was ‘M2E (Move-2-earn)’. Already having similar mobile applications in which the users are rewarded with points for walking certain distances, several M2E projects have emerged and gathered the investors’ attention. While expanding into multi-chain, StepN recently engaged in energy sharing with the BNB chain, which subsequently led to the decline of its token price. CoinWalk, a Klaytn-based M2E project which rewards the users with $MED for walking, recently announced its change of blockchain network to Terra to welcome more foreign user inflow. However, shortly after UST de-pegging incident, CoinWalk had to change its blockchain back to Klaytn and changed its project name to ‘SuperWalk’, which eventually became the object of ridicule among the Korean communities. Other M2E projects, such as Runblox, and Tracer, also started to actively seek other methods to make revenues during these harsh market conditions, for instance by changing their blockchain network from Terra to Near.
    In the meantime, NFT remains the highlight among Korean crypto investors. Three major department stores designed their characters to reflect their brand images and recently launched NFTs in the form of the characters. Hyundai, one of the major department stores, launched its own NFT digital wallet service. Lotte, another major department store, launched its own NFT marketplace. Following the increase in demand for NFT, Discord has started to position itself as the ideal social service to build and develop crypto-communities. While Telegram is still the most used social service for the crypto-communities, more and more influencers are building Discord-based communities for better operation and managem

E. Compensation Request

Moderator - 2 Moderators (24hr management) - 500 USDC + 300 DHT
Content Creation - 8 Posts - 400 USDC + 120 DHT
Translation - 1 Translations - 75 USDC + 25 DHT
Total 975 USDC + 445 DHT
Wallet Address : 0xf56A045f1d00bb76d84F4f5E1af09E3D63193F26