Cassava Updates — August, 2022

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Cassava Network

6 min readAug 3, 2022

Dear partners and community members,

It’s our pleasure to share with you our second official project report. In the past few months Cassava has made huge strides in developing our product and mapping out the path forward.

Read through to get the full update on what we’ve achieved so far, where we are right now, and where we’re heading.

Latest News

Fundraising

We have successfully raised $8 million from more than 40 reputable backers including Dragonfly Capital, Mirana, Yield Guild Games, Coin98 Ventures and CMT Digital. We’re honored to have the support of such illustrious investors, and we believe that their support and guidance will be invaluable in ensuring Cassava has a strong launch and sustainable growth. By any metric, this was an incredibly successful raise and as an African startup, this confirms that we’re building something unique.

Using this raise, we can continue developing our blockchain rewards infrastructure and Web3 product suite, which includes:

$CSV rewards
A feature-rich, multi-crypto wallet
Cassava NFTs
Cassava ID and OATs
Cross-chain support

Marketing and operations

In the past few months, our community has seen massive growth across our various social media channels. Our Twitter, Discord and Telegram have grown by 40k+, 33k, and 10k respectively.

1. The Cassava AfriMyth NFT Props free mint event was successfully launched together with over 10 partners.

We launched our first composable AfriMyth NFTs in May, a collection which reflects our African roots and takes inspiration from African masquerade traditions.

Of the 10,000 total Cassava AfriMyth Prop NFTs, 4674 were minted by our community during our May 7 — May 21 event, while the team minted the rest to support community building including community contributions, external cooperation and other Cassava events.

View the address: HY3LHF5FVTkRRKpgaScNjkhxoYwFjnkjoGcJBevhmdFB.

After the AfriMyth Props were minted, they were listed on OpenSea and Magic Eden, and you can head there now to buy and sell Props.

Note that there will only ever be 10,000 AfriMyth Props, get your hands on one today!

Nearly 200 have been airdropped to community members so far as rewards for AMA contributions, the Meme Contest and various other community events.

We couldn’t have done this alone, so we want to take our time here to thank our amazing partners like PortFinance, ZoA, 1Sol Protocol, Crema Finance, SecondLive, LiveArtX, Trias and many more for helping us expand Cassava’s network and pioneering the path forward for Web3 adoption.

2. Exciting new partnerships

In the last four months, the business development team has been devoted to building partnerships for Cassava Network. As a result, we’ve managed to form a wide number of partnerships from across the crypto landscape. These partnerships include Trias, African Valuables Collective, Crema Finance, SecondLive, Yield Guild, Hourai, 1Sol Protocol, Port Finance, Ethanim Network, Universe By Barnabe and Quest 3. Through cross marketing efforts with these projects we’ve managed to reach over half a million people across their various social platforms.

3. AMAs

We have been organizing a host of AMAs as of late, not only to expand the influence of Cassava Network, but also to keep up to date with what’s happening in the market.

Below is the full list of completed AMAs:

4. Meme contest

To expand the influence of Cassava AfriMyth Props, as well as to engage the Cassava community and find more talented Cassava builders, we launched a Meme Contest on May 16th.

Participants were required to create a meme with Cassava AfriMyth Props and publish their creations on social media and attract people to vote for it. In the end, 83 incredible pieces of artworks were submitted and 16 winners were awarded, including one first prize winner, two second prize winners , three third prize winners and ten people’s choice winners were voted by users and selected by the Cassava team. The winners were awarded 18 Cassava AfriMyth NFTs from this event.

5. Ambassador plan

We launched the Ambassador Program on June 20th. Our Ambassadors include Community Ambassadors, Design Ambassadors, Content Ambassadors and Lingual Ambassadors. Each category of Ambassador is divided into four levels: Degen, One-Star Ambassador, Two-Star Ambassador and Three-Star Ambassador.

So far we’re proud to announce we’ve received almost 200 applications! An incredible achievement, and we’ve been working hard to pick the cream of the crop.

6. Industry engagement

To keep updated on industry developments, we’ve participated in various industry conferences and meetings. Some of the biggest we’ve attended so far include:

Beyond these we’ve also taken time to conduct and publish research on the industry, for example our analysis of how connecting via mobile is dominating the African tech scene.

7. Regular community events

In addition to the various partnerships, events, fundraisers we’ve been working on, we’ve kept our community engaged through a number of other events.

Community calls

We’ve hosted four community calls in the past four months and our community engagement during those events was stellar.

Community quiz

We have also hosted two community quizzes, which engaged the community and motivated potential users to further familiarize themselves with our product.

Development

1. Cassava AfriMyth NFTs and Prop NFTs

In May, we launched a free mint event for Cassava AfriMyth Props. To prepare for it, we designed Cassava AfriMyth NFTs and Props and released them. In addition to those NFTs, we also developed a website for minting as well as additional features to ensure the event ran smoothly and the community could interact with the NFTs fully.
We began designing and creating other components for the AfriMyth NFTs including the headwear and clothing.
We developed a custom minting feature for both web and mobile which allows users to personalize their AfriMyth NFT. So far, we’ve developed five body types with over 30 different traits.

2. Marketplace Development

We’ve been working tirelessly on the Cassava Marketplace, most recently focusing on the centralized interface and contract data integration, among other smaller updates.

3. The Cassava Points System

Cassava’s key objective is to offer $CSV as a reward mechanism for other projects, particularly Web2 applications in Africa, to connect Africans to the incredible benefits of Web3. The groundwork for the integrations has been completed.

What’s next?

We will continue coordinating events like AMAs, community calls, community quiz, research to keep our community active and interested. We aim to ensure that our team continues to engage the industry throughout a number of upcoming conferences. More specifically we have four strategic plans moving forward:

1. New Cassava AfriMyth NFTs releases

We will continue to host events to get more Cassava AfriMyth NFT components into the hands of our community, eventually enabling holders to mint fully customized avatars. As part of this process, we aim to engage more users and continue to expand the influence of Cassava Network.

2. Cassava’s Android and iOS mobile app releases

We firmly believe that mobile will be the dominant way in which the world connects to Web3. As such we’re prioritizing the launch of Cassava Mobile on both Android and iOS, which will integrate with some Web2 applications.

3. Integrate Web2 applications into our point system

We are actively talking to African-based Web2 applications with large and engaged user bases on integrating our rewards system into their apps. This will lay a solid foundation for the Cassava Network to become the go-to bridge for Web2 apps looking to connect to Web3. We’ll have some announcements about this going out in the coming months.

4. More partnerships

In addition to the partners who will be able to interact with our product, we will also continue actively exploring prospective partnerships with projects that can benefit Cassava Network’s user base, branding, functions, and long-term development. We will announce the results of this effort as they come.

Thank you for reading through Cassava’s update report. We’re excited about the road ahead and we’re proud to have you along for the journey. Make sure to be following our socials to stay up to date with the latest from the team.

The Cassava Team 🎁

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