Please describe your proposed solution.
◆Reasons for approaching
1. SPOs in Vietnam are operating discretely, without linkage.
2. Single SPO needs help calling for trusts, leading to insufficient trusts to close the block and the abandonment of pool operations.
3. Single SPO and new SPO have difficulty operating the pool because of a lack of experience and knowledge.
4. The pool operation knowledge in the Cardano documentation is mainly in English, and that's a barrier for many Vietnamese.
4. ADA holder needs to have the opportunity to exchange many SPOs to choose the right SPO to entrust.
5. there is yet to be a channel to support SPO in Vietnamese.
◆Our Solution
Established Cardano SPO association to support SPOs.
This is a place to exchange information, knowledge, and experience in pool operation and organize activities and events to connect SPO and ADA holders with each other.
To operate sustainably and contribute many values, we will divide many stages to build the association. After each stage will evaluate and plan to improve.
In the first phase, we will do the following:
1. Calling for SPOs to join the association
2. Create a website to share knowledge about pool operations in Vietnamese.
3. Create a Twitter to alternately post introductions and call for trusts to SPO pools to register as association members.
*Benefits of SPO when joining Cardano SPO Vietnam association
1. Access to the pool operation knowledge library and pool operation experience in Vietnamese.
2. Have the opportunity to interact with experienced SPOs, and learn successful lessons from them.
3. Have the opportunity to interact with ADA holders and attract ADA holders to entrust to their pool.
4. Rotate the PR pool on the association's Twitter, increasing access to ADA holders worldwide.
*Duties of SPO after becoming a member of the Cardano SPO Vietnam association
1. Contribute articles to share knowledge about Cardano and Blockchain on the association's website. Purpose: to contribute to attracting ADA holders to the association and, simultaneously, an opportunity for SPO to PR their own capacity with ADA holders.
2. After the SPO pool can close blocks regularly, the SPO needs to perform new SPO support work until the new SPO can operate the pool properly and close blocks regularly.
3. Actively collaborate with other SPOs to participate in the association's everyday activities.
◆Project end-users
- Single SPO
- New SPO
- Experienced SPO
- ADA holds
◆Why this is important to Cardano
-Contributing to helping Cardano grow stronger because SPO and ADA holders are more united.
-Increase decentralization as SPO grows evenly.
-ADA holders better understand their role and that of the SPO,
from there, can have many contributions to the decentralized governance activities of Cardano.
<u>*Why need Cardano SPO Association in Vietnam:</u>
- Language Barriers: The Vietnamese English proficiency index is 66th out of 112 countries (EF EPI score: 486, ranking in Asia 12/24), which is lower than the others.
- Vietnam Cryptocurrency Adoptions:
For the second consecutive year, Vietnam ranks first in the Global Cryptocurrency Adoption Index released by Chainalysis. [1]. It is 2nd for Index scores and Top 3 of 20 countries with the highest interaction with DeFi platforms worldwide between April 2019 and June 2021 [2]. In Japan where 95% of pre-launch sales volume between September 2015 to January 2017 has sold to Japanese holders [3].
[1] [Chainalysis reports](<https://vietcetera.com/en/vietnam-leads-global-cryptocurrency-adoption-index-in-2022 >): https://vietcetera.com/en/vietnam-leads-global-cryptocurrency-adoption-index-in-2022
[2] "Index of the 20 countries with the highest interaction with DeFi platforms worldwide between April 2019 and June 2021 " Statista. https://www.statista.com/statistics/1263257/global-defi-adoption-by-country/ (accessed 25 June 2022).
[3] "Ada Distribution Audit." Cardano. https://cardano.org/genesis/#audit (accessed 25 June 2022).
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
◆This Proposal targets the goal of the Challenge
It aligns with Challenge's goals because we create a place for SPOs to exchange and support each other. That is:
“A sense of community and conversations. Having people around to talk and connect with.”
“Organizing Community Events with a focus on SPO”
◆The value our proposal brings to the Cardano ecosystem
- SPOs support each other and grow equally, helping to make Cardano more decentralized.
- Attract new SPO entrants.
- Pools are operated stably, helping Cardano blockchain to operate stably.
How do you intend to measure the success of your project?
Quantitative/qualitative indicators to measure project success
- Number of SPOs joining the association
- Number of active SPOs
- Number of materials contributed to the library
- The number of SPO operating the pool is stable
Please describe your plans to share the outputs and results of your project?
◆Plan to disseminate project outputs
Our activity in the early stages is mainly on the website and Twitter so we will announce the activity and the results there.
◆How to share output/results when project completion
- Catalyst and community reports
- The report in Town Hall
- Publish results on Cardano communities and call for new SPOs to join.
◆Directions for using the results obtained from the project for further research and development activities
Based on the results of this project, we will improve and plan to expand to support more SPOs. In addition, in the long term, the Association will have exchange activities with SPOs in other countries, gradually making deeper and broader contributions to Cardano Ecosystem.