[Worker Pre-Proposal] bitBNS Integration of BTS

[therealkeerthan]

Some buzz around BTS listing on Bitbns - https://twitter.com/shru112/status/1153720053952442368?s=08

[@healingvibes]

Thanks for your input! We are gathering the answers to those questions from the Team in a group telegram chat. Will post that info here once we get answers. (See Frequently Asked Questions at end of original post above Also, just to confirm the fee (currently) is 4 BTC and the 2 BTC would be for the flash sale to their users. Still a cost to us but more for getting tokens in the hands of users on the platform. Keep the questions coming and we'll dig in.

Thanks again.

[Thul3]

Thanks for the initiative in the indian market!

Questions:
 - Will they be creating all marketing content themselves, or are we needed to create it?
 - Do they have statistics available for the last 3 or 6 months? What they have posted is quite old
 - I personally find 4 BTC quite expensive, is that their final offer?

Cheers,
  Stefan

It's 6 BTC

[sschiessl]

Thanks for the initiative in the indian market!

Questions:
 - Will they be creating all marketing content themselves, or are we needed to create it?
 - Do they have statistics available for the last 3 or 6 months? What they have posted is quite old
 - I personally find 4 BTC quite expensive, is that their final offer?

Cheers,
  Stefan

[Thul3]

how does it come that your exchange which has 700k+ users have so low volume ?

BTC =14 BTC/day
EOS=1400/day


etc

[@healingvibes]

Intention: The goal of this Worker Proposal is to provide funds for costs associated with integrating the BitShares core utility token (BTS), with bitbns, a cryptocurrency exchange based in Bangalore, India.

This is a proposal organized by: Aaron Mangal, Michael Taggart, Move Institute (Digital Lucifer and team who will be handling escrow if approved), and John Conlin. We have had some communication with bitbns and would like the community to weigh in on what has been proposed to us by them.

The bitbns team we are communicating with includes: Keerthan Shetty, Gaurav Dahake and Vishal Vikram Singh

See original bitbns proposal here: https://drive.google.com/file/d/1rySzEMYb25yIq5pa1RsKVg2mkLNPx2F0/view?usp=sharing





BitBNS is a cryptocurrency exchange with over 70 digital currency pairs based in Bangalore, India.

BitBNS believes cryptocurrencies are the future of economy and payments, offering a transparent and easy experience for traders. They also want to see adoption for all not just the select few. On the service side they offer 24/7 support and an active Telegram channel with real-time communication.

As stated on their website:

“Our founding members are young and enthusiastic adopters of crypto currencies, all of whom graduated from IIT. Before we started BitBNS, we have created multiple products that have helped consumers in commerce decision making.

In late 2017, we decided to start a crypto-currency exchange. To give people a smooth entry into the world of crypto, we gave importance to ease of use, safety, and professional support to our customers, right from the beginning. BitBNS went live on December 14, 2017.

In just a few months, our focus proved right.” ~https://bitbns.com/about-us/

Parent company of BitBNS, Buyhatke, is a shopping research portal serving over 10 million monthly active users in India

Buyhatke helps inform consumer buying decisions by providing data points like when to shop based on price variation, trends, price and deal comparison. Buyhatke estimates it saves its users $8 million every week.

BitShares will receive an ad placement which with reach an expected 53 million total audience size.

How To Deposit in BitBNS



How to Withdraw Funds from bitBNS



Collaboration with BitShares

The benefits of BitBNS synergies would be having the BitShares ecosystem and native token, BTS, opened up to a potential 1 billion+ market in India and beyond. BitBNS is willing to feature and communicate not only the BitShares listing but also the value of the ecosystem to this user base.

Here are some details around the reach of BitBNS:

• 1+ million views on YouTube
• 8 million impressions on social media posts and news articles across reputed media like Huffington Post
• 3,900+ Facebook Followers
• 10,700+ Twitter Followers
• 700,000+ Users
• 12,000+ Telegram

Specific deliverables will include:


-Flash Sale and Distribution of BTS tokens to users, see bitBNS’s proposed distribution plan here: https://docs.google.com/spreadsheets/d/1JXc6SVo9B-7VqO18f1hAeXoQkzwriU7PUieui07dcEY/edit#gid=363551209
-Announcement to the BitBNS community through blogs, email newsletters, social media and our homepage. Over 700,000 members will receive this note. This would also include a formal Press Release with media outreach.
-Banner placement with your BitShares logo on our homepage with a link to your website, bringing you traffic from the banner. “Overlay Ads on relevant sites for a period of 12 weeks - BTS gets to choose when and where to place over ads. It is always recommended to make use of the service when there is an announcement to drive more traffic and increase engagement.”
-Organic search traffic from Google and other search engines, due to your increased SEO rank from the back links. Our website has over 4 million visits every month and it’s growing. We rank in the first 3 positions for many major keywords of buy tokens and coins or price. With Google banning crypto ads this becomes even more significant.
Meetups and social gatherings facilitated



Here's an example of a recent "Crypto Night" meetup bitbns hosted (from their Facebook page): https://bit.ly/2XT98Z6





BTS Flash Sale Details

We will be setting aside at least 2 BTC worth of BTS utility tokens for distribution to bitBNS users. See exact distribution plan #s here: https://docs.google.com/spreadsheets/d/1JXc6SVo9B-7VqO18f1hAeXoQkzwriU7PUieui07dcEY/edit#gid=363551209

Statistics of User Growth




Plan Of Action


The objective is to get BTS coins to relevant users and users should understand deeply the value of BTS and the vision.

These would be done in 3 phases:

• Phase 1: Awareness
  
• Phase 2: Evangelizing
  
• Phase 3: Create Return on Investment

Awareness and Evangelizing starts a week prior to the listing and will continue for 12 weeks. Promotions will resume with any announcement or any contests associated with BTS.

Costs: 6 BTC (4 BTC + 2 BTC worth for flash sale)

BitShares Community Deliverables:

• Create Promotion around Flash Sale Giveaway
  
• Assist with any co-marketing content for bitBNS

Here are some frequently asked questions and the answers from the bitbns team:

Q: Are the ads mentioned above only shown through the bitbns chrome extension and mobile app for Buyhatke?
A: Yes, The ads are powered by Buyhatke Chrome Extension and the mobile App.

Q: How would the BTS distribution plan work for the Flash sale?
A: "This is our proposed distribution plan (https://docs.google.com/spreadsheets/d/1JXc6SVo9B-7VqO18f1hAeXoQkzwriU7PUieui07dcEY/edit?usp=sharing). If you feel there is a need for any changes in the reward system, we are open for suggestion. But the proposed plan has been working phenomenally. And with Trading contests we make some tweaks every now and then for better performance of the campaign."

Q: How come your exchange has 700k+ users with such low volume? (BTC =14 BTC/day EOS=1400/day)
A: These are not the only INR pairs There are USDT pairs also which have good volume https://bitbns.com/trade/#/eos-usdt (4000+ EOS) https://bitbns.com/trade/#/btc-usdt (20+ BTC) he overall market liquidity around the wicket tapers off. Usually it's about 4000 odd EOS on INR pair as well and 35 odd BTC. There is an order size difference as well from the customers in India as compared to US. That's a straight difference because of the per capita income being roughly 17x different from India to US. The same difference is also observed in stock market orders.

Q: Will they be creating all marketing content themselves, or are we needed to create it?
A: We will be creating marketing contest and pushing it via Bitbns and Buyhatke. Here are some of the links of the recent marketing push: NRG referral Program (https://medium.com/@bitbns/refer-a-friend-and-get-1-nrg-e20a4e4c49ab), Bitbns Crypto Talks (https://www.youtube.com/playlist?list=PLys_QYcCmGsFgeXU_H1Yyki-hrIqUkyo0), and Announcement in Regional Language(s) (https://twitter.com/bitbns/status/992721911040872448). You can always share content if you’d want us to push marketing efforts from our end.

Here are some additional slides showing details around what bitbns will provide: https://docs.google.com/presentation/d/11yxu8boyWnYWacKmNEiEZ9iA1naDyRH9_a5wNXwX3DA/