Introducing Attrace Referral Network- Referral layer for the tokenized economy
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 the 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 promissising 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 assets 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: