The Neo Global Development Ecosystem Growth department helps grow the Neo ecosystem by providing support to developers and projects. In episode 42 of the NNT podcast, NGD Ecosystem Growth director, John Wang, discussed how it uses its relationships to connects projects with resources.
NGD EG acts as a sift by examining projects and proposals to validate their quality. Once the team has conducted its due diligence, it leverages its exisiting relationships to help the vetted project. Wang used Switcheo as an example, noting how NGD EG introduced the non-custodial exchange to Asian and Chinese markets:
That’s what we’re doing for Switcheo. We know what Switcheo is, we’ve figured out this project’s comparative advantage, and we help explain [and share the project with] different people or groups. We’ve introduced them to the [Chinese] community, exchanges, infrastructure, and distribution channels. We can easily find [who] they should collaborate with [next].
Wang cited a community marketing campaign NGD EG helped host in July 2020, where the “trading volume on Switcheo increased from [approximately] US $100,000 to $1,000,000” a day. Though, he noted that NGD EG doesn’t take all the credit, adding that the team is “also doing the hard work.”
Additionally, NGD EG supported Switcheo through the Neo EcoBoost program. As part of the arrangement, Switcheo made Neo’s native GAS token the only accepted payment method for trading fees on its exchange. The partnership indicated that the NEP-5 SWTH token price would be supported by a “price floor” in an SWTH/GAS market.
For international projects looking to gain footing China, NGD EG can help them navigate foreign waters. He said, “Overseas projects want to come to the Asian market. For these projects, we’re going to teach them how they should do business in China.”
Wang noted that business in China is very much reliant on relationships and reputation, called guanxi. NGD EG can use its networks and influence to help connect projects with individuals who can help them with their goals.
“In China, it’s quite different from the West. We [focus on] relationships, called guanxi. Trust [in China] is [established] by your reputation. So, you can be [working on lots of projects] by yourself, but it’s still [like you’re part of a group]. In China, a small team with a new idea, you need to find the right person to talk to and tell them what you want to do. And, if you can convince the key group or person, it will be helpful to help the team.”
In the West, NGD EG can also assist by leveraging its international relationships. Wang noted, “for example, an American project could potentially talk with Neo News Today and get that [form of community] support.”
Looking forward, Wang believes the recently launched Flamingo Finance protocol will attract new projects in the DeFi realm to the Neo ecosystem. Further, the NGD EG team aims to attract new developers to test the Neo3 TestNet once it launches later in the year.
The full interview can be found below: