Monday, 10 January 2022 11:15 AM
Company Update
Pre-staking period lets community help shore up network's trust and security.
AMSTERDAM, THE NETHERLANDS / ACCESSWIRE / January 10, 2022 / Making good on its promise to create the world's first trustless "word-of-mouth marketing" protocol for web3, Attrace has opened pre-staking of $ATTR to help build up sufficient trust and decentralize its Verifier Network. The project, also often described as an affiliate marketing platform for web3, enables verification of user acquisition in web3 via a network of Verifier Nodes.
Before the Verifier Network opens up to any third party interested in running their own Verifier Node, the Attrace team has set a requirement that a minimum of 100 million $ATTR tokens, or 10% of the total supply, be staked with the network. It's the first major step towards taking the wraps off of its long-anticipated Attrace Verifier Network.
Starting today, $ATTR holders can deposit and commit their tokens into a pre-staking smart contract on Ethereum. There's no minimum required to stake, but holders who pre-stake at least 50,000 $ATTR during this initial phase will be eligible to run their own Verifier Node once the network opens to the public, which the team expects to happen by May 1.
Attrace is offering 10 million $ATTR in staking rewards during the pre-staking period to incentivize node decentralization, ensure security, and kick-start the network towards DAO. Additional rewards will be available during the staking period, with the exact amount to be announced soon. It's expected that the network will ultimately be sustainable on protocol fees, which will be the commissions paid out in native tokens by all crypto projects and creators using Attrace referrals.
Stakers will receive a share of the $ATTR staking rewards tokens in proportion to the size of their stake, which will be subject to a 12-month vesting period, during which 8.33% of the collected $ATTR rewards will be free to use each month after pre-staking concludes.
Prominent cryptocurrency derivatives exchange Deribit was an early backer of Attrace, investing $2.5 million in the platform last year, the first investment in its history. Sentillia, the developer of the Deribit exchange, is also one of the Attrace Verifier Network's stakers.
About Attrace
Attrace unlocks the value of "word of mouth" marketing in web3 by linking promotions with the on-chain user activity.
Web3 brings opportunities to channel value directly to those who contribute to crypto projects and creators, by spreading the word about their decentralized apps or crypto assets. Whether the communication happens via web2 channels (i.e. Twitter, Websites), web3 channels or via Metaverse, Attrace will be able to capture the value add of word-of-mouth marketing that leads to web3 activity. The network of Verifier Nodes observes and captures the value of user acquisition in web3 that happens via link sharing (value of social graph in web3).
Attrace is currently live on Ethereum and Polygon and supports (cross-chain) referrals for IDO's, Liquidity and Staking Pools, as well as NFT Drops referral campaigns, with direct NFT sale referrals and connections to BSC and Solana to follow soon. The agnostic network will progressively integrate with all major smart chain networks to eventually become a standard for web3 marketing in the crypto space
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About Sentillia
Sentillia is the developer of Deribit, which is a bitcoin futures and options trading platform. Both companies are bullish on cryptocurrency's long-term prospects, and have positioned themselves at the forefront of the crypto derivatives market. One of the fastest-growing crypto-trading platforms in the world, Deribit lives by its core values of integrity, quality of service, and innovation.
Media Contact:
Dan Spencer
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SOURCE: Attrace