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“Web 3 needs Africa...not the other way around”

_Moloukou Sanoh, CEO of Cassava Network

THE BACKSTORY

The presence of talent and potential in Africa is a textbook fact that enjoyed basic celebrity until the explosion of Web 3 across different parts of the continent. Today the raw promise held by the African youth edges closer to its full peak as more opportunities spring up in blockchain projects and communities.

The influx of useful solutions can be traced back to huge deficits in monetization or connectivity for creators and employment for youths. These gaps have birthed a wave of innovations that bridge the gap between the average African youth bursting with value and the world outside them.

The Cassava Network is one of those innovations playing a role in this development. A post-COVID brainchild of Co-founder & CEO of Mansa Finance, Moloukou Sanoh, the network was created to eliminate the problem of limited opportunities for Africans despite the abundance of talent. Today, Cassava Network is home to a thriving ecosystem with a reward token of its own designed for Africa's rich market.

Built on an incentivized model that rewards participation, the ecosystem is a fusion of decentralized finance (DeFi) and blockchain technology and three sets of participants that leverage its opportunities are creators, developers, and users. The layout for these participants to interact with the ecosystem is simple yet efficient. Creators earn in Cassava's reward token, $CSV for engagements channeled into the ecosystem while developers enjoy the easy, seamless implementation of reward systems into their existing apps. Last on this list are regular users who enjoy incredible rewards in exchange for spending time on the network.

THE NUMBERS

The overall supply of 10,000,000,000 CSV tokens is distributed across five sectors of the ecosystem:

• Teams

• Investors

• Staking rewards

• Partner fund

• Ecosystem reserves

Cassava teams have an allocation of 2,000,000,000 in CSV tokens set to be locked for six months after the listing date and a vesting period of 36 months. Investors and staking rewards also have the same allocation as teams but with different specifications. The former will see only 10% of allocated tokens unlocked post-token launch with a linear unlocking period of 12 months and a cliff scanning of 3 months. On the other hand, the pool for staking rewards will be unlocked at a steady pace for a duration spanning 7 to 10 years.

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Partner funds have the lowest allocation with a token supply of 1,000,000,000. This financial support will help partners introduce incentivization into their content and user-to-product dynamics. Cassava's ecosystem reserve takes up the biggest portion of token allocations with a supply of 3,000,000,000. Reserve allocation will gradually go into funding necessary demands in the ecosystem like emissions, governance, and so on.

On the Cassava Network, allocations are engineered in a way that ensures the satisfactory distribution of the network resources. The numbers are transparent and emissions, flexible. This simply means that while factors like vesting times can be specified ahead of time, emissions can be subject to change if it improves the token ecosystem or results for holders.

THE USE CASE

The utility of Cassava's CSV is largely determined by impressive growth spurts that have allowed its use case to cut across components of Web 3 as we know it. This includes DeFi, NFT and the king of usership Do/Play To Earn. As traditional finance systems fail to provide solutions to their biggest challenges, more and more people take on the adventure of trying out decentralized finance. Cassava Network is positioned to facilitate DeFi transactions using the Cassava wallet and guide mass introduction to cryptocurrency.

When it comes to non-fungible tokens, the goal of Cassava does not simply stop at supporting artists by art ascribed to real-world assets, it expands into taking P2E gaming to another level when users receive access to earning opportunities for a few dedicated hours of gaming. Cassava users can also earn CSV tokens by performing simple tasks on the platform earning or contributing with quality content.

THE FUTURE

Q3 of Cassava's 2023 roadmap is teeming with accomplishments that demonstrate the network's commitment to providing Africans with access to every advantage Web 3 has to offer. In the space of just a couple of months, Cassava Network has flawlessly scaled its third quarter of the 2023 year with the launch of its on-chain AfriMyth avatars, Web 3 community tours, user education, AMAs, and major partnerships.

Some of these partners include:

• Math wallet

• Bitmake exchange

• Suipad

• Starcoin

• Power Browser

• Hask Key

• ACG World and so on

For Q4 2023, the network has its sights set on providing support for EVM-compatible chains, launching governance on the ecosystem, integrating with BoomPlay, and Transsion, and finally extending their reach into six more African countries.

Without a doubt, Cassava Network is on a blazing trail of success across the continent. At a staggering 47,000 task participants and 16,200 followers, there's no denying the network's ability to deliver on Sanoh's dream for Web 3 in Africa. Today, the word Cassava is more than an indigenous staple crop, it's a symbol of the journey toward change as Africa seizes the reins.