Varanida, a decentralized ad technology that rewards users for their attention online, while giving more value to publishers, and protecting advertisers from fraud has begun its initial coin offering (ICO). The token sale is presently in the midst of the second round, which will be ending next week on the 12th of October.
The problem Varanida seeks to address is bad ads online, and struggle for users to control their data. Varanida lets you determine if you want to see ads or not, giving ownership of private data back to users, while rewarding for their attention. Besides privacy concerns, there are ad blockers, programmatic ads (which siphon data), misrepresentation and fraud problems for which Varanida seeks to provide a better solution.
- Benefits for Publishers – Varanida believes in better compensation for publishers and media, content is the reason why the Internet exists, but content creators are not being fairly compensated for their effort.
- Benefits for Advertisers – Varanida seeks to bring transparency and trust to the advertising supply chain Advertisers have been taken advantage of by fake views, fake clicks, fake sites, and so on.
Varanidae are a family of lizards (including the Komodo dragon and the crocodile monitor) that are well known for cleaning mangroves and fields. Varanida’s mission is to clean the Internet of intrusive and poorly designed advertising, while introducing a decentralized, transparent, and ethical ad network.
- Token Brief – The Varanida token has real utility, where users can spend VAD for accessing premium content on publisher sites, unlocking discount and promotions from advertisers, or directly buying products and services with selected partners
- Reward Users For Interaction – Publishers using Varanida will be able to encourage their audience to interact with their content, through different incentives with VAD tokens for commenting on content, sharing on social media, and contributing additional content
- Decentralized Ad Validation – Varanida users can collectively vote on the quality and relevancy of ads, brands, and websites. Scores are stored in our blockchain for transparency.
- Private Data Encryption – Varanida has built a “Data Wallet” where users own their personal data through their private key. Data is encrypted in AES, and signed through ECDSA.
- High Throughput Transactions – decentralized Real-Time Bidding system will be built on our blockchain, with support for high transaction rates.
- Easy To Build Applications – Varanida will support decentralized and traditional applications to allow better engagement and more efficient ad campaigns.
- Incentivize Users – VAD tokens reward users for seeing ads, sharing encrypted data, or contributing content, enabling a fair value-sharing mechanism.
- Reward Publisher Performance – Publishers get more revenue from Varanida than from traditional networks, and they are incentivized by the quality and performance of their content.
- Useful Masternodes – Within Varanida’s blockchain, publishers will play an important role in supporting the delivery network, through Masternodes and POS mechanisms.
- Fraud Free Network – Varanida’s identity and reputation systems will make the network more resistant to ad fraud, allowing for better and more predictable performance.
- Better Deliver – Varanida’s Network will improve content and advertising delivery rates, increase capacity, and encourage engagement with innovative formats.
ICO: Why A Token?
In the prototype phase, Varanida will create the VAD (Verified Ad), an ERC-20 token running on the Ethereum Blockchain. Later on, Varanida will release two crypto-assets that will carry the following benefits:
- One currency for all parties (no exchange rate, no fees)
- One currency to access all content on the Internet (and beyond)
- Users can earn tokens (no bank account or Paypal account needed)
- Tokens bring transparency to the whole ecosystem
VADm Master Token
This token will be the reward for ICO participants, at a 1-to-1 ratio with the ICO token. Its supply will be fixed, and it will have several usages that will require immobilization and lead to holding behavior, which will, in turn, reduce its velocity. First, the Varanida protocol will use master nodes to run the real-time bidding and verification nodes.
They will both require staking VADm tokens, as an incentive for good behavior. Another way to profit from the network usage without having to run a node will be to collateralize those master tokens to create the utility token. As described below, this second token will be managed as a “stable coin”, necessitating users to immobilize VADm as collateral for VADu issuance. This will ensure that VADu tokens are redeemable for their face value and support price stability, while increasing the master token’s value.
In both cases, the token immobilization will be rewarded by fees (in VADu), either for the use of the advertisement services (service fees through the service nodes), or for the use of VADu (transaction fees for collateral).
More information on the tokenomics of Varanida can be seen in their whitepaper.
- Symbol: VAD
- Type: ERC-20
- Initial Supply: 1,000,000,000
- Final Supply: Unsold tokens burned
- Release Date: Following the end of Round 2
- Soft Cap: 8,000,000€
- Accepted Currency: BTC / ETH
- Founders Tokens: 3 years vesting
- Company Reserve: 4 years vesting
- Hard Cap: Community vote during Round 3
- No indirect pooling
– Cap Per Person: 20 BTC
– Age: Majority in the country of residence
- KYC/AML: Mandatory to validate contribution
- Exclusion: USA, China, N. Korea, Australia, N. Zealand
VAD Token is not a financial instrument A VAD Token does not represent an investment in a security or a financial instrument within the meaning of EU Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 relating to markets in financial instruments: the VAD Token confers no direct or indirect right to Varanida’s capital or income, nor does it confer any governance right within Varanida.