RECAP#AMA1046
AMA1046
CryptoFury x Attrace
⏰ Time: August 19th , 2:00 PM UTC
💰 Reward Pool : 50$ USDT
💎 Place : https://t.me/CryptoFury_Chat
Question for Part 1- Project overview:
1. Can you briefly introduce yourself as well as Attrace? And from where you get the project name? What does it mean to you? And why you choose this name for your project? What is your mission and vision to build this project? What you want to achieve Through your project in future?
Erwin W : Can you briefly introduce yourself as well as Attrace?
My name is Erwin
Background in M&A and accounting at Deloitte, worked for Morgan Stanley CI in London for 8 years and had one previous startup called LinkBundle (benchmarking the online performance of retail banks) before I co-founded Attrace in 2018
About management team: The Attrace team has extensive experience in the North-European FinTech, Affiliate Marketing and startup field, a solid background in international blue-chip financial companies (various banks in USA and London) and developed a use case specific high performance custom blockchain solution from scratch over the last three years.
will do…
last part of question:
>> What is your mission and vision to build this project? What you want to achieve Through your project in future?
np
last part of your question:
What is your mission and vision to build this project? What you want to achieve Through your project in future?
Attrace is a referral protocol for web3
As we all might have noticed: Online marketing in web3 has a complete disconnect between marketing spend and true on-chain value add.
So what do all web3 projects do now? They give fixed fees to promoters or websites, without any guarantee that those promoters add value.
The only real option crypto projects have is to give fixed fees to KOLs, websites and influencers to promote a project, noting is performance based
In other words: Web3 does not have performance based marketing for assets being sold in a decentralized environment, e.g. like a DEX!
And how about you? You might be tweeting about a project you like, and indirectly add huge value to that project, but you are not getting rewarded for that….
Before Attrace there is no way you could be rewarded — performance based! — for promoting an asset that is sold in a decentralized (!) environment like Uniswap or a decentralized NFT marketplace
So we identified that Web3 needs a solution for performance based promotions.
On June the 25th, after more than 3 years and millions of investments,
Attrace launched the only operational trustless Referral Protocol for web3. Protocol consists of two main pillars:
1) Referral links for web3
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 via a DEX). This means performance based marketing cross web2/web3.
2) Referral Farms
With the launch Attrace has also introduced the Referral Farms, a farming style reward structure for Promoters/Referrers and Buyers to create Defi style urgency for Promoters to join early.
2. What strengths do Attrace have to compete with competitors?
Erwin W : We are currently the only protocol is able to connect referral links via any (social) channel with true on-chain activity (e.g. buy and hold crypto via a DEX like Uniswap or Sushiswap).
- There is currently no other solution operational that can do this💥
So as of right now we have no competition, but for sure that is going to change soon
Strenghts:
- The only performance based marketing protocol based on the true pillars of web3
- Trustless, fully transparent
- No cookie tracking or fingerprinting so no data privacy issues!
done
3. What are your significant achievements till now and what are your other plans for this year?
Erwin W : It took us more than 3 years and millions of development to develop the MVP. 😓
MVP is live for a couple of weeks now, since june the 25th🥳
The first conversion numbers — a completely new marketing concept in a bear market with little marketing — look promising:
- We now have about 300 promoters that signed up via the App (sign-up conversion rate 17% and buyer conversion rate 8%)
- and a total of 118 projects in our CRM wanting to connect.
Not all requests we can deliver yet. Requests can be divided in 4 use cases:
1) Refer users to NFT Marketplaces (DEXs live already on ETH), e.g. referral links to NFTs being sold on NFT marketplaces
2) Refer users to a smart contract (!) e.g. staking, farming and lending protocols, like referral links to deposit tokens into AAVE lending pools
3) Attrace can help DEX and NFT aggregators to get paid. Attrace can integrate a referral system that would enable DEXs to incentivise trading volumes based on pricing
4) Refer users to a blockchain/network, e.g. referral links to bridge tokens to Avalanche network
Aim is to be a first mover in all these verticals on all main networks (ETH, BSC, Solana etc.) which would make Attrace the Web3 Marketing Infrastructure play.
So that will be our roadmap, those 4 use cases on all main networks.
Then besides that we aim to get the Oracles live for anyone to run by the end of the year
So plenty to do
Part 2: Pre-selected questions from our community
1. Is the tokenomics and distribution model already out? Where can I get them? Can you share the details with us here?
Erwin W : Yes you can find it here: https://attrace.com/about/tokenomics
There are 1.000.000.000 ATTR fixed
$ATTR is used for Staking and Governance
- Ensure security and guarantee trust by staking $ATTR with Oracles
- Earn protocol fees (5% of farms) and staking rewards in $ATTR when staking
- Receive $ATTR by joining Attrace Referral Farm
- Govern the network through a voting process
we took many months to think about the tokenomics to assure they are robust and still relevant in any scenarion in the future
2. At the moment, where Attrace are focusing right now? Building and developing product or getting customers and users, or partnerships? Could you share it?
Erwin W : We are still developing to accommodate more use cases and more networks as mentioned in previous answer
But main focus now is getting end-users and partnerships
Partnerships is going well, we are already fully integrated with MASK protocol and also integration with DAPPRADAR will be compoleted this month more news you can expect about other partnerships in the future
regarding customers
to anyone out there:
you can set rewards in your native token
any size you like
just test it out!
it really works
done
3. Marketing strategy is very important for every project. A product be established on the market without marketing & promotion, whatever it is good. So what are your plans for this? How will you build strong relationships with communities?
Erwin W : We are not going to follow — the same — marketing route that 10.000 projects are doing as well
Firstly because we don’t want to spend large fixed fees in USD or native tokens to KOLs (influencers) > we think they should be paid in a performance based manner! > which is why we developed Attrace in the first place!
Also, we are not a whitepaper, we are live with an MVP.
…… an MVP that other projects can use for their marketing….
we are going to leverage our strengths
Attrace is a marketing tool itself ! > so the more projects use Attrace the more indirect promotion Attrace will get
1) Our marketing is based on other projects using our protocol for their marketing, we will in that way indirectly be exposed to the communities of projects using Attrace
2) We are aiming to become a thought leader in our space, Attrace will be thought leaders in performance based marketing for web3 so that anyone in web3 looking for performance based marketing (word of mouth marketing) will eventually end up with our protocol
3) We are going to do an SEO play (as we already exist for more than 4 years, Google likes us so we have good rankings already)
4. Southeast Asia is a very vibrant market and many projects developed here, so with your project what do you think about Southeast Asia and do you have any plan to develop here??
Erwin W : We are already active in SE Asia
We consider that market one of the most important, if not THE most important, market
Some of our developers are from Vietnam, we have some advisors from China and Australia helping us in the SE Asia market, and soon we will go live on the BSC chain which will also help adaptation in that region
5. Many projects have similar features & services, but I can see that you are bringing out new innovation with your project. In the end, what will be your vision? What are you trying to achieve in the long term with your project? What are your plans to get there?
Erwin W : Thank you for acknowledging that 😌
Indeed there is currently no project with a similar vision on performance based marketing in web3
Nobody is doing our methodology because it is very difficult to develop: Creating a three party relationship between public wallet addresses of Project, Promoter and Buyer in combination with Oracles that can observe any asset on any blockchain
Once we have accommodate the other use cases I mentioned in the above, and once we are live on BSC and Solana,
🛫Attrace will be the web3 marketing infrastructure play
Our vision is:
Attrace to become the Referral Protocol for Web3
The go to tool to unlock the real (!) value of “word of mouth” marketing in web3
Question for Part 3: Guests will choose 5 live questions from members and answer directly in CryptoFury Community
1. IS This Your project only for elite investors, how many people about others with small funds, is it open to chat
Erwin W : open to anyone we are listed on Uniswap and Sushiswap ($ATTR)
2. Revenue is an important aspect for all projects to survive and maintain the project/company. How have you been able to build a complete project and what is the way to generate profit/revenue of the token? What is the income model?
Erwin W : Attrace takes 5% network fees of the REFERRAL farms set up
if you own ATTR token you can stake with an oracle and get part of that 5%
3. PARTNERSHIP is an important factor for every project. Could you name some of Structure finance’s partners? What are the benefits that you get from them? And is there any partnership that will be established in near future?
please tell me answer
Erwin W : we have more than 100 requests for partnerships
you know why?
because in the end EVERY PROJECT WANTS PERFORMANCE BASED MARKETING
most projects are tired of giving fixed fees to websites or influencers without seeing any REAL results in actual on chain usage
this is what Attrace has been solving
4. BSC is really in trending now because it has low gas fee and high transaction speed. Have you any plan to move to BSC?
Erwin W : Yes, we will be live on BSC this year and maybe even in the coming 2–3 months
we will start with referrals to assets being sold on a DEX on Binance, so e.g. referrals for assets sold on Pancakeswap
5. In general project homepages, sponsors and partners related to the project are listed, but it is difficult to check on Attrace’s homepage. Please introduce the partners who support the Attrace.
Erwin W : go to the app and you will see partnerships
and the big ones still in development are announced on our social channels and Medium
our website if purely focused on the end user, and the end user is not interested in sponsors or partners
the end user wants:
- set up a farm to find promoters for their project
- start promoting a project to earn
those visitors are not interested in which investor or “partnerships in the future”
we are very pragmatic about that
