Introducing Attrace Referral Network
For the past three years, the Attrace Team has been focused on decentralising Affiliate Marketing trying to solve major trust and transparency issues in the traditional affiliate space. Some of the issues such as trust in the middleman and transparency for the promoter were solved, and a promising early traction has been achieved. However, the trust on merchants remained an issue impossible to solve, while the transparency came at the cost of potential future privacy issues, something that Attrace team was not willing to trade with. Furthermore, it became obvious that solid tokenomics has no place in a network where the trust of all participants cannot be guaranteed. On the bright side, these findings have been extremely insightful and helped the team to come out with some major learnings and fruitful conclusions which inspired further ideation and shaping of the vision. As part of the process, the team came to a major realisation: That the real opportunity for decentralisation and trustless solutions in the promotional space lies within the tokenized ecosystem itself, the ecosystem which has been envisioned and designed on those very same principles…
Vision for the future
The world’s assets are becoming tokenized on public blockchains, and we strongly believe that this process is only a beginning. dApps running on decentralised protocols and ERC20 tokens being traded on DEXs have gained significant traction and we are starting to see the creation of a new decentralised financial ecosystem. Furthermore, we have recently seen a boom in NFTs around digital art, collectables, metaverse, etc., but what is more promising is that many great developers around the world are starting to experiment by building products around these new tokenized assets. If you let yourself imagine the future, you can easily think of a number of cases where new valuable assets will be created as tokens on blockchains, whether fungible or non-fungible.
Surge of the tokenized economy comes with a need and opportunity for promotion.
Think of marketplaces that sell NFTs or dApps, surely they could use the help of promoters that would spread the word about the NFT sales or dApp’s service offering. Fast forward five years from now, and think again about those valuable assets that will become tokenized in future, as well as the need and potential for promotion of those assets…
Concept of promotion is nothing new, but if you look into traditional referral systems and solutions you will find major trust and privacy issues, the very same reason why Attrace focused on decentralising affiliate marketing in the past. Without digging into the major issues of the traditional solutions, we can safely conclude that those solutions are not fit for the space which was engineered based on the decentralized and trustless principles. Surprisingly enough, even solutions that come from the decentralised space are reminiscent of the traditional ones, where promotions are still being centrally managed within siloed referral campaigns scattered across the ecosystem and blockchains, token holders and crypto projects.
We strongly believe that a decentralised future deserves and requires solutions which are more aligned with its basic principles. With that mindset we came to a realisation, that the tokenized economy misses one essential element: A decentralised trustless network that has the right incentives and a fair and equal promotion system for all the participants. Towards that end, Attrace is launching the Attrace Referral Network:
The world’s first trustless Referral Network for a decentralised future!
Attrace Referral Network enables referral conversions of any tokenized asset on any public blockchain in a fully decentralised and trustless manner.
In line with our vision of future, the following principles have been carefully ingrained into the network to address previously highlighted issues:
- Completely trustless referral verification performed by the Verifier Nodes
- Verified conversions without any user tracking by observing transactions of tokenized assets available on public blockchains
- Guaranteed payout via smart contract as a reward for the successful referral
By solving these existing issues we have created a foundational building block for the future of promotion in the tokenized economy where trust and user tracking are no longer issues. However, our vision goes beyond just problem solving, in addition creating opportunities and providing value for the blockchain ecosystem.
We notice that the ecosystem is largely carried by the communities which support it. In some cases they are the main driving force behind projects. We have also noticed that the referral solutions are scattered across the ecosystem and blockchains, and that the value that the community and promoters bring to the projects is not being captured. We aim to bring referrals for all tokenized assets across multiple blockchains together under one network to maximise the value for all participants:
NFT owners, dApps, and other projects can utilise a single referral network to maximise visibility and potential of connecting with promoters and customers.
The promoters and customers can connect via single network with NFT owners, dApps, and other projects across multiple blockchains and the sellers can set the bounty in any crypto of choice.
And finally, Attrace will become a community owned network governed by its participants. The network has been designed to incentivise and reward each participant that provides a service to the network using the native token ($ATTR). We strongly believe that the participants and the community that create a value for the network by actively building it, deserve to be in charge of that same network. Ultimately, Attrace should be entirely driven by its community and become a DAO.
Becoming the referral standard, DAO, and how to get there
Attrace is aiming to become the referral standard for any tokenized asset on any blockchain. We imagine Attrace as the “go-to” network for any promotion and referral in the tokenized ecosystem. Our intention is to achieve wide adoption where the network users also become the stakeholders. Ultimately, the aim is to achieve a high decentralisation of the token and become a Decentralised Autonomous Organisation (DAO), where all the decisions related to the network are made by the community and the users. We envision accomplishing these high aims in four stages:
Launch — Attrace is launching with the foundation of the trustless referrals in place as well as the $ATTR token to ensure that the basic incentives for all the participants are right from the beginning. Attrace Marketplace will also be released as a “showcase” to demonstrate the referral capability of the referral network to the community.
The initial release of Attrace Referral Network will focus on referrals of Ethereum based NFTs.
Note: Separate announcement will follow for each release
Early Adoption — To incentivise early traction and the network activity, extensive Mining Rewards and Airdrops will be put in place to distribute $ATTR to the users and community. Additionally, staking will be introduced to provide an opportunity for the token holders to earn $ATTR from the network fees.
Note: Mining Rewards and Airdrop schedule, as well as the staking release will be announced separately
Scale — Once the initial traction is achieved, the intention is to scale by supporting referrals of tokenized assets on other major blockchains (e.g. Binance Smart Chain, Tron, etc). At this stage, the major idea is to enable referrals for large number of dApps and other crypto projects by expanding the scope of supported use cases
Expand — Finally we anticipate that the blockchain will finally “cross the chasm” and that the mainstream will also join the tokenized world where we anticipate to expand the usage of Attrace Referral Network with more use cases to come. At this stage we anticipate to reach a large audience with $ATTR and become a DAO.
More information on Attrace.com.
