Tasteem Delegation Renewal Application

Tasteem Logo.png

Project Information

Please limit your responses in this section to 140 characters.

Company name:
Culturehero Inc.
Place of Incorporation:
Seongnam, South Korea
Token name (if applicable):
n/a
Token Type (ERC20, Steem-Engine, SMT etc.):
n/a
Project Type (for profit business, flagging project, community, others please specify)
for profit business

Existing Delegation Received

When did you get the delegation?
May 21st, 2018
Under what terms did you receive the delegation?
We got the delegation under terms of doing our best effort for expanding the Steem ecosystem in Korea and other countries in Asia. There wasn’t any specific terms regarding the cost or withdrawal of the delegation.
What was the intended purpose for the delegation?
To grow Tasteem and the steemit community for Korean users by incentivizing them in various ways.
How have you applied your delegation for that purpose?
We’ve built a project called Tasteem, and incentivized its users with @tasteem’s upvotes.
How long are you requesting the continuation with the delegation?
3 years

Market

Please limit responses to 300 characters.
What problem is the product/project solving?
Tasteem is a restaurant review platform and is built on blockchain. Tasteem wants to build apps and products that can be easily accessed by regular users without the necessity for them learning the term ‘blockchain’. A restaurant review platform was a perfect start for that goal.

Core Team Details

Please limit responses to 500 characters for each team member.

Write short summaries about each core team member including their achievements to show they have a strong track record. Add links to their LinkedIn profiles to this section.

@reinjun is the founder of the project and the CEO of the company. Having an engineering background himself, he has fine understanding of blockchain and general tech fields. Now he is an experienced businessman in multiple areas.

@travisung is the business developer for the project. He manages various positions for the project and does most of the communications whenever needed. He manages Tasteem supporters and various Tasteem channels.

@lekang is the product manager and also does a bit of coding himself. He manages most of the elements on the service side and plans out product features with the dev team.

And a dev team with 2 engineers and 1 designer.

Minimum Viable Products

Please limit responses to 500 characters per product.

Provide links to your minimum viable products and describe it. If it is not available, please describe it and include how you plan to build it and when it will be built.

https://tasteem.io
Tasteem is a restaurant review platform built on Steem. Easily put, it is Yelp on blockchain. Tasteem users are incentivized by the actions they take on the platform. That includes writing restaurant reviews, making upvotes or leaving comments on reviews. Restaurant reviews are being scored so they can be more visible to the users who seek for quality restaurant reviews.

Business Strategy

Please limit responses in this section to 250 characters per question.

Fiat Revenue Strategy: [E.g. We plan to sell NFTs which represent in-game items for US Dollars]

Google Ads on Tasteem platform
We’ll be putting up Ads for local restaurants on the website.
Tasteem runs contests, and they can be used for marketing purpose for brands and local restaurants.
Tasteem has a rank system and we’ll offer premium user ranks which users have to pay in order to acquire related features.

Fiat Revenue Projections in $/user every month: [E.g. $10/user]

2020: $1/user
2021: $3/user
2022: $5/user

How will your business strategy increase the amount of STEEM being powered up and/or burnt?
Tasteem will be powering up Steem equivalent to 10% of the total fiat revenue we earn.
What financial incentives are you willing to provide to Steemit, Inc. and/or the Steem Community in return for the delegation? i.e. What's your skin in the game? [E.g. project tokens, revenue-share, etc.]
(Without a return there's not a partnership, it's simply a contribution, and one that's easily left behind. In order to encourage businesses and communities to commit to the Steem blockchain and ecosystem long term there needs to be both a contract and a mutually benefical partnership.)
If we are to create product tokens in the future, We will exclusively be offering a pre-sale to Steemit inc. and users with Steem accounts with highly discounted price plans.
Are you or how will you become financially sustainable once the delegation is removed?
We’ll have periodic Steem Power-Ups every month and this will eventually eliminate the need for delegation.

KPI Progress Measurement

Please limit each KPI description in this section to 100 characters.

Suggest at least 3 KPI’s per project with which to measure the progress of your project(s) in its(their) current phase. KPI’s must be measurable and objective (a percentage or numerical value), or binary (yes / no or completed / not completed).

Please note:

KPIs are to be reviewed and evaluated by the committee in the next quarter.
KPI descriptions shouldn't change without a change request form.
Targets will be adjusted every quarter in future appliction.
Refer to this post for sample/suggested KPIs.

KPI1 description: Avg. # of daily new posts
KPI1 target: 150

KPI2 description: Avg. monthly visiotrs
KPI2 target: 60,000

KPI3 description: Avg. monthly sign-ups
KPI3 target: 300

Token Offering (If Applicable)

If you are planning on offering a token, please fill out details below. Otherwise, if you haven’t tokenized, but still provide a service, please describe the service and the amount of that service that you’re offering to perform for Steemit and/or the Steem community in exchange for the delegation.
n/a

Delegation Request

Please limit responses in this section to 10 characters.

How much of a delegation are you requesting? Limit your requests to one of the three tiers: Top-Tier, Mid-Tier or Test-Tier.
Top-Tier
Specify the desired time frame for the delegation in 6 month increments: [E.g. 6 months, 1 year, etc.]
3 years
Which one of the following answers best describes how the delegation will be used to add direct value to Steem:
A. It will be used to create new accounts.
B. It will be used to give new accounts 15 SP to give them the resources needed to use Steem and purchase goods and/or services through our platform.
C. It will be used to incentivize the creation of content that promotes Steem / your project on external platforms.

Agreement

We agree that our business will continue to leverage the Steem blockchain as long as we are receiving a delegation and 1 year following the removal of the delegation. During this time we also agree to promote the Steem blockchain as a valuable technological protocol that delivers unique value. We are willing to sign a legally binding contract with Steemit, Inc. to this effect.
We agree.

Renewal Questions: Impact to Date Since the Start of Delegations

Table 1 (Totals)

Quarter	Q2 2018	Q3 2018	Q4 2018	Q1 2019	Q2 2019	July 2019	August 2019
(1) # Users onboarded	n/a	n/a	n/a	n/a	n/a	n/a	n/a
(2a) Users (Steem)	n/a	3,422	4,163	4,596	5,023	5,116	5,226
(2b) Users (non steem)	n/a	n/a	n/a	n/a	n/a	n/a	n/a
(3) Impressions	n/a	11,890	22,550	57,111	62,790	43,554	48,874
(4) Value disbursed from delegation (USD)	n/a	37,433	28,293	25,545	26,736	4,563	4,574
(5) External Revenue (USD)	n/a	n/a	n/a	n/a	n/a	n/a	n/a
(6) Steem Powered Up (Project Accounts)	n/a	n/a	n/a	n/a	n/a	n/a	n/a
(7) Steem Powered Up (Clients)	n/a	n/a	n/a	n/a	n/a	n/a	n/a
(8) Steem Power Delegated (Community)	n/a	n/a	101	n/a	n/a	n/a	n/a
(9a) Avg. Daily New Posts	n/a	111	79	66	70	88	54
(9b) Avg. Monthly Visitors	n/a	4,578	8,041	19,401	21,291	43,554	48,874
(9c) Avg. Monthly Sign-Ups	n/a	473	242	143	138	87	104
(10a) Steem burned	n/a	n/a	n/a	n/a	n/a	n/a	n/a
(10b) SBD burned	n/a	n/a	n/a	n/a	n/a	n/a	n/a

Table 2: Steem Power Delegated Per Client

	Q2 2018	Q3 2018	Q4 2018	Q1 2019	Q2 2019	July 2019	August 2019
Client 1	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Client 2	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Client 3	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Client 4	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Client 5	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Client 6	n/a	n/a	n/a	n/a	n/a	n/a	n/a

Questions (Where applicable, fill in tables above)

Please fill out the answers to these qustions as best as you can. If it is not applicable to your project please put N/A. You will be asked to upload spreadsheet data in the Google Form, you can clone samples from here: ( Table 1 | Table 2 ).

Describe what value the project continues to bring to the Steem community and why the community should continue to support your project?

Korea has been one of the largest communities on Steemit for some time. The community has been creating a good amount of fine contents. It was a good market and we wanted to expand it while delivering greater value to the whole steem ecosystem.

When we first started the project, our goal was a complete establishment of Steem ecosystem in Korea and furthermore, in other Asian countries. Steem is a community-based blockchain and we always believed bringing in more communities means priceless value to the chain. This idea led us to launch the platform in multiple Asian countries (some of them haven’t been operational for some months now due to cost issues).

We want more communities in and we’ve been doing our best we could to accomplish this. We believe this explains most of the reasons why we need continuous support from the community.