ADA Liquidity for Ethiopia

If funded, $8,000 in ADA will be available for local developers, entrepreneurs, and investors to purchase using local currency (Ethiopian Birr, aka ETB). There will be no fee to exchange, because the ADA is provided by the Catalyst fund, and the goal is simply to seed the community with Ada. Exchange rate will be based on daily or immediate price available on a public exchange site (e.g. Coinbase). Ada will be the first crypto which is easily accessible in Ethiopia, and this first-to-market advantage will propel it into premier status in terms of respect, trust, and convenience of use.

Our goal will be to sell all of the Catalyst-funded ADA to others within 6 months. I will encourage the buyers to delegate their ADA to an African Stake Pool, and to also be willing to sell some ADA to others to continue to grow the community.

Success after 3 months: have sold $2,000 worth of Ada and held 3 or more education sessions

Success after 6 months: have sold $8,000 worth of Ada and held 6 or more education sessions

Success after 12 months: Transition to sustainability by partnering with local Ada investors or Stake Pool Operators to continue offering exchange at a low fee (details to be determined later, based on market conditions and operational costs).

Exchange Method
Until an online automated exchange is built, all e****xchanges will be performed in person or via Telegram, by accepting cash, mobile, or bank transfer. Like the early days of Bitcoin, this will require the buyer and seller to place a lot of trust in each other.

Wallet Security Education
Getting into crypto, even Cardano, can be a scary thing. Many people want to hold ADA, but don't know how, or think they do, and later learn a very painful lesson if they lose access to their funds due to a misunderstanding or lack of safeguards. To mitigate these issues, I will hold education sessions (via Google meets or a similar forum) to walk through basic security practices and the steps to set up and use a Cardano wallet (Yoroi). The sessions will be conducted in both Amharic and English.

Team

Jonathan: Crypto enthusiast since 2011, U.S. Diplomat, former scientist

Ephrem: Local entrepreneur, speaks 3 languages: Amharic, Oromo, and English

Launch Date: July 1

Budget
ADA to exchange: $8,000
Education and Advertising: $2,000

Image copyright Cryptoknowmics