What needs to happen to make PWRD a go-to stablecoin

Background: Current approach of GRO has been about making Gro products lucrative for a very informed crypto audience i.e. those who know how to interact with protocol on-chain. Coming from a traditional business background, I’ve seen high-risk industries like gambling, forex and other industries like insurance, Banking (neobanks) etc. all using stablecoins in their day-to-day operations. In countries like India where gambling, sports betting, binary options are not allowed, whole business operations with millions of daily trading volume are getting executed in stablecoins primarily in USDT and USDC.

PWRD is superior to USDT in the sense that it is more stable, less risky, and can earn APY > 4%. As a former participant of G-force, I felt that I can directly approach only other DAO treasury to increase TVL. By targeting only a highly informed crypto native audience, I think we are restricting the potential of our products and community.

If the demand of PWRD reaches 20% of the demand of USDT, I am pretty sure this will have a domino effect and help GRO to succeed in the long run.

What do we need to do: Almost all defi protocols are operating inside the bubble the industry has made for itself. We need to get our product-market fit by understanding real-world industry needs from stablecoin. There is a real demand in traditional businesses to partner with Crypto native projects to either offer innovative products or take advantage of more interest among retail investors for their stocks. We need to spot their needs, get the required infrastructure to make it happen and in turn, we’ll gain big partnerships, high demand for PWRD, and a bigger community.

Some Examples of stable coin/Defi product demand in off-chain businesses:

  1. Forex Industry: Stablecoins

  2. Sports Betting: Stablecoins

  3. Casino: Stablecoins

  4. Crypto Exchange / Hybrid: DeFi products as option to earn yield.

Suggestions:

  1. Rebrand PWRD name as something that connects it more to USD. I know it sounds stupid, but boomers connect better to stablecoins that have USD in their name.

  2. Form a plan on how to get PWRD in the hands of as many ppl as possible. Most retail customers get access to stablecoins through the exchange. You can’t expect any real-world use case till retail can’t easily access your coin.

  3. Work on increasing liquidity for stablecoins. Easy conversion to any other coin / fiat.

  4. Reduce any fees to make it more usable.

  5. Allocate budget for partnerships with these businesses. GRO has millions in its treasury, if GRO really wants to be the first protocol to really make its name in real-world after USDT and USDC, we can think of partnership opportunities in the form of investment, incentive, etc. Remember, this is new for these businesses as well.

  6. Launch an Epoch to get market research for these industries and understand what infrastructure will convince these industries to add PWRD in its accepted stablecoins.

  7. Once product-market fit is achieved, launch Epoch to partner with as many businesses in these industries as we can.

Looking forward to hear from the community on how to make this happen.

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