Varanida ICO (VAD Token) for Blockchain Crypto Ad Network Begins
Varanida (VAD) for Digital Based Blockchain Ad Network Begins
Decentralized ad technology Varanida, which offers rewards to users giving their time and attention online, and which provides publishers with more value as well as protecting advertisers from malicious individuals has started its initial coin offering (ICO). This token sale is currently in its second round and will come to an end next week around October 12th 2018.
Varanida aims to address the challenge of online bad ads and create a platform in which users can control their data. This site will help users restrict the number of ads one wants to view an aspect that will return data ownership to the real users while giving them reward for their attention. In addition to checking privacy concerns, the site will feature ad blockers, misrepresentation, programmatic ads (that siphon information) and fraud issues which Varanida hopes to create solutions for in the future.
Benefits For Publishers
Varanida view is that publishers and media should be compensated fairly. Content is the sole reason which holds on the internet yet content creators are poor compensated for their efforts.
Benefits For Advertisers
The platform hopes to introduce transparency and honesty to the supply chain in advertising. Real and honest advertisers are losing out to fake clicks, fake views and fake sites among others.
What Are Varanida?
Varanida are a lizard family that includes the crocodile monitor and the Komodo dragon that are popular with cleaning fields and mangroves. Just as these lizards, Varanida’s aim is to clean out the internet of low quality and poorly designed adverts and introduce decentralized, ethical and honest ad network.
Decentralized Ad Validation
The site enables users to vote on the relevancy and quality of the ads, websites and brands. They store scores on the sites blockchain to ensure transparency.
Private Data Encryption
Varanida has created its own data wallet in which users have ownership of their data protected by private key. These data is signed via ECDSA and encrypted in AES.
High Throughput Transactions
Varanida plans to establish a Real-Time Bidding system that will be decentralized and support high transaction rates.
Publish will play a vital role within Varanida’s blockchain network. They will have the responsibility of supporting the delivery network using masternodes and POS mechanisms.
Network Free from Fraud
The platform comes with identity and reputation system. This system will make the entire network more resistant to fraud enabling users to perform better and have more prediction power.
The network promises improved delivery of advertising rates and content, encourage engagement with more inventive formats and increase network capacity.
Easy To Build Applications
The system will comprise of traditional and decentralized applications to enable seamless integration for more efficient ad campaigns and engagements
Varanida plans to reward users with VAD tokens for viewing ads, contributing content and sharing encrypted data thus allowing a fair value sharing process.
Reward Performance by Publishers
Publishers will get rewards based on the value and quality of their work. In this platform, they will get more value for their work than in traditional systems.
ICO: Why A Token?
During the trial phase, Varanida will develop a VAD (Verified Ad). It is an ERC-20 token built on the Ethereum Blockchain. Varanida will then proceed to establish two digital assets that will feature the following benefits:
- One currency for all users (no fees and no exchange rates)
- This currency will be used to get all content on the entire network
- Users can get reward tokens. No need for payment platforms such as PayPal or bank will be needed
- Tokens will ensure transparency within the entire network
VADm Master Token
Users will get this token for participating in the ICO at an equal ratio to the ICO token. It will have a fixed supply and have various functions that will need immobilization and result to holding behavior. This will in turn reduce its velocity. At first, the Varanida protocol will utilize the master nodes to support instantaneous bidding and nodes verification.
During the prototype phase, users on this network can earn VAD tokens every time they manage to block an ad arising from centralized networks. The blocking is carried out through multi-browser compatible extension that allows users to restrict ads running on centralized networks. The list of restricted ads and scripts is compiled using a combination of public lists such as private lists, Easylist as well as a crowdsourced list available on the blockchain.
Earning tokens will need staking of the VADm tokens for users to receive incentives for good behavior. Another method of earning from the network without the need to run a node will be to make collaterals of the master tokens in order to create utility tokens. The preceding token will be used and managed as a ‘stable coin’. This will enable users to immobilize VADm as a collateral to issue VADu ensuring that the tokens are redeemable for their present value which will support the stability of the token’s price while at the same time making the master token more valuable.
The immobilization will give users rewards in both cases in VADu. These rewards will be either for the use of ad services (service rewards via service nodes) or for the utilization of VADu (transacting rewards for collaterals).
- Symbol: VAD
- Type: ERC-20
- Initial supply: 1,000,000,000
- Final Supply: All unsold tokens will be burned
- Release Date: It will follow the end of the round
- Soft Cap: 8,000,000 Euros
- Accepted Currency: BTC/ETH
- Company reserve: 4 years vesting
- Founders Tokens: 3 years vesting
- Hard cap: community voting in round three
- No indirect pooling
- Age: Required adult age in country of residence
- Cap per person: 20 BTC
- KYC/AML: mandatory to verify contribution
- Excluded countries: China, N.Korea, Australia, New Zealand, United States of America