Attrace first Referral Farms are live with MASK, SYLO and NetVRk!
Last week marked a huge step for Attrace as the long expected Referral Farms went live. Together with the launch, the Attrace team also announced the first two lucky winners from the Twitter token nominations. These two projects below are part of the first Attrace farms in existence and will enjoy a sponsored Referral Farm.
Buckle up, because you’re about to experience the power of decentralised referring:
Earn for promoting NetVRk, a multichain metaverse built on Unreal Engine.
Campaign duration: 30 days
Total rewards: 3.000.000 ATTR
Daily rewards: 100.000 ATTR
Earn for promoting SYLO, a decentralised network, protocol & communications platform.
Campaign duration: 30 days
Total rewards: 3.000.000ATTR
Daily rewards: 100.000 ATTR
Together with the two first elected tokens the team has also set up farms for MASK, the first platform that has integrated with Attrace,
Earn for promoting MASK, a bridge between the internet and a decentralized network running on top.
Campaign duration: 30 days
Total rewards: 3.000 MASK
Daily rewards: 100 MASK
and of course there is a farm for the referral protocol itself
Earn for promoting ATTRACE, a referral protocol to unlock the value of ‘word of mouth’ in web3.
Campaign duration: 30 days
Total rewards: 6.000.000ATTR
Daily rewards: 200.000 ATTR
It is time to put rewards where the mouth is
Attrace marks the end to exuberant and untraceable marketing costs, like the heavily paid influencers with unprovable performance. Instead, loyal community members, and influencers, can now get paid based on their true on-chain value added to a project. In essence, the Attrace Referral Farms enable to form a virtuous cycle around referrals that is equitable for project creators, crypto enthusiasts and buyers. Protocols can create a referring mechanism around your project that is fair and square. By unleashing the value of ‘word of mouth’ marketing, projects can engage and reward active community members to let the world know how valuable their project really is.
What are Referral Farms and how can I earn?
A referral farm is a referral program with a ‘farming’ aspect. Crypto enthusiasts earn a share of daily rewards for promoting tokens they believe in. With referral farms, promoters earn higher rewards compared to other referral programs. Not only will the buyer and the promoter get incentivized directly on chain, promoters also get incentivized for participating early.
Projects can create a Referral Farm, which allows their community to promote their project, while joining a Referral Farm means you are a part of the community promoting it.
Attrace’s ‘referral farming’ process directly rewards promoters on-chain with a share of the bounty for every successful referral brought to a project.
Generally, marketing costs are an enormous part of the general budget and finding ways to more efficiently allocate makes sense. Referral Farms allow for performance based marketing, which streamlines the marketing budget. Consider it DeFi style rewards for performance based promotion in web3, a direct form of marketing payouts that is fair and traceable.
How are the Referral Farm rewards distributed?
To illustrate how the distribution of a Referral Farm works, in the below an example:
Let’s say project X reserves 5000 tokens as farming rewards and starts a farm. With a campaign length of 50 days, the daily rewards will be 100 tokens. In other words, each day 100 tokens will be rewarded to farm participants. The first person who buys 100 tokens through the referral farm will initiate the farming process. 50% of token rewards will go to this buyer and the other 50% to the referrer. For every other referrer and consecutive buyer, the daily farming rewards will be distributed to them pro-rata with respect to their acquired tokens. So if on the second day another buyer enters the scene through a different referrer and buys 300 tokens, the total tokens bought will be 400. This means buyer 1 and referrer 1 will each receive (50/400) * 100 = 12.5 tokens / day and buyer 2 and referrer 2 will each receive (150/400) * 100 = 37.5 tokens / day. While the first participants initially received the biggest share of rewards, proactive promoters can gain a bigger share over time. This has several effects:
- Early participation is incentivised
- Holding the token accrues extra value through farming so it promotes buy-and-hold behaviour
- Each promoter is rewarded according to their true value added to a project
How to promote MASK, SYLO, NetVRk and ATTRACE to earn rewards
There are two ways to earn for being a promoter::
Via the Attrace app
If your favourite project is among the lucky winners, then these are the steps to take:
You will likely notice a tweet of your project with the ‘buy to farm’ feature. Clicking the link will bring you to a page where you can connect your Metamask. Signing the message will register your public address for rewards. Next step, you will be redirected to the DEX and you can swap/buy your tokens as normal. As soon as you have bought the tokens, you and the referrer are part of the referral farm and will start earning. Only thing after you need to do is come back to claim your rewards!
In case you also want to promote the project, just head over to Attrace. By clicking ‘refer to farm’ and signing the message with your desired Metamask address, you receive a link you can share on any social media or website. You will guaranteed be rewarded (via your Metamask) for the true value you have contributed as a promoter.
As a Mask user
To facilitate promoting projects on Twitter, Attrace integrated with Mask Network. Referral Farms are immediately listed and visible on the Mask extension app, enabling users to promote their favourite token by referring on Twitter directly without having to leave the social channel.
About Attrace
Attrace is currently the only operational trustless Referral Protocol for web3. It empowers Word-of-Mouth marketing for all assets across the blockchain universe.
The protocol is able to connect outreach (referral links) via any social channel, cross chain, cross web2/web3 and the Metaverse with true on-chain activity (e.g. Buy-and-Hold crypto).
It connects communities across various blockchains and platforms within a single ecosystem and unlocks rewards based on their true value added to a project.
In practice, the protocol enables crypto and NFT projects to incentivise referrals of their tokens, while rewarding those who contribute to their growth and adoption. Attrace App is envisioned as a referral marketplace where anyone can become part of the ecosystem and interact with the protocol, while direct integration and development of other decentralized apps will be possible in an open-sourced manner.
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