Attrace — the world’s first decentralized referral network — recently announced its Initial DEX Offering (IDO) on Sushiswap’s launchpad MISO. The IDO is set to take place on 19th June and will be followed by a token listing on Sushiswap on 22nd June.
Attrace is a one-of-a-kind project that aims to create a trustless referral layer for the entire blockchain ecosystem. To encourage participation and incentivize the users of this referral network, Attrace is launching its native utility and governance token $ATTR through the said IDO.
Through the IDO, Attrace will distribute 15 million ATTR tokens and the maximum allocation per investor will be worth 0.5 ETH. The funding is set to a max limit of 80ETH and the funds raised will be used to fund the liquidity pools that enable the public listing two days later. ATTR token holders will reserve the right to participate in the network governance and earn rewards by staking.
Apart from this, Attrace is also set to launch the world’s first dApp referral marketplace. This means that the world’s first IDO referral will be the Attrace IDO referral. Attrace is using its in-house trustless referral technology to promote its IDO and reward promoters.
Building a Referral Standard for the Tokenized Economy
Attrace’s vision to build a full-fledged decentralized referral network for the blockchain ecosystem and the decentralized web has garnered attention from across the globe. Referral systems have always been an integral part of companies’ marketing plans. By incentivizing existing users to bring in new users, Attrace aims to provide a fool-proof way of promoting products and services. But, businesses usually have to rely on third-party services to implement their referral programs.
This entails a whole lot of problems. Firstly, they must share private information with middlemen, which puts their data at risk. Secondly, middlemen make it hard to fully verify conversions which sometimes results in fraud and delayed payouts for promoters.
Now, with new-age businesses going digital and blockchain technology picking up steam every single day, there is a need for a referral system that caters to this new tokenized economy. Attrace provides just that. It provides a way for businesses to promote their products online without spending a fortune and for participants to earn rewards by becoming promoters.
Attrace claims that its trustless referral layer can be deployed on any existing blockchain network and allow cross-chain referrals of digital products like dApps, NFTs, and other projects and digital products. Users who help businesses promote their desired token or product can earn rewards in cryptocurrencies of their choice.
Being a trustless, decentralized network, Attrace relies on verifier nodes to monitor blockchain activity for successful conversions and probable frauds. Promoters can also rest assured of instant payouts owing to the fact that the entire process is disintermediated and automated, with the payouts locked in advance. Furthermore, Attrace promises unmatched privacy and security as the system does not need to track users’ activity via cookies or fingerprinting.
The entire system will be powered by the ATTR token, making token holders the key decision-makers in the governance and development of the platform.
With the rise of blockchain technology, it is evident that the world is headed towards a decentralized future. Some of the biggest businesses are adopting this technology and the world’s assets are being tokenized on blockchains. In a time like this, a truly trustless referral system like Attrace that caters to the needs of this booming economy is a welcome windfall.
As the main utility token, the onus of the success of this entire referral network lies on ATTR. This IDO and token listing on Sushiswap is a perfect way for Attrace to introduce this project to a wider community and garner the attention of the masses.
Interested participants can apply for the IDO whitelist here.