- A significant change within the architecture and tokenomics of the Attrace Network has been implemented, with the main aim being to simplify the creation of a referral program without a mandatory $ATTR network fee. The advantages are:
- Simplified UI/UX experience for end users;
- Ability to scale significantly easier across networks. For example, the Referral Network can now support any IDO or Liquidity Pool referral on any implemented network (for now Ethereum and Polygon)
- $ATTR will still be used for Staking (please see below), Governance and Rewards.
The Attrace team received a lot of feedback on the referral dApp from the community. One of the main issues raised is gas fees when the tokenized assets and referral programs are on Ethereum. These fees make it economically less feasible to mint promoter bounty tokens on chain, especially for the promoters chasing the smaller bounties. Similarly, depositing bounty on Ethereum and distributing this to promoters and participants as a reward becomes costly. Here's how the Attrace team has responded:
- The Attrace Referral Network now supports cross-chain referrals, which basically enables the promoter to select a network regardless of where the asset is located.
- The bounty can now be deposited on Polygon even when the asset for which the referral was created is on Ethereum.
Another large milestone has been reached: NFT Drop programs have been added to the referral dApp, making Attrace officially operational in the NFT space.
The Attrace Referral Network can now monitor transactions on external chains for NFT minting events, and distribute bounties to promoters and participants (who mint a new NFT) accordingly. More information about NFT Drops and how to join can be found in our Medium article.
Staking will be an essential part of the Attrace ecosystem. In order to achieve trust in the detected conversions, the verifier nodes need to be staked with sufficient $ATTR.
Staking will be rolled out in three phases:
- Pre-staking: Holders deposit a stake in $ATTR to become eligible to operate a verifier node
- Operational Verifier Nodes: Stakers run verifier nodes
- Network Activation: The network reaches DAO once sufficient stake has been committed
Currently, the Attrace team is rolling out the prestaking contracts, where token holders can participate. These contracts are expected to be live within 2 weeks.
Metamask has accepted the Attrace pull request. This means that with the next Metamask release the ATTR token will be included in the default token list. https://github.com/MetaMask/contract-metadata/pull/968
Development and status as follows:
- Bounty campaigns have been launched. More than 5,000 community members generated more than 30,000 social interactions while participating in the newly launched Attrace bounty campaigns.
- The total number of community members across Twitter, Discord and Telegram has doubled.
- With the launch of the NFT Drop referrals, Attrace will now be able to tap into the large NFT communities.
- A separate community for SE Asia is being set up.
- Attrace has been mentioned in multiple big media outlets including AMBcrypto, IBtimes, Hackernoon, NewsBTC, Coinmarketcap and more, reaching millions that are interested in blockchain technology.
Suggestion or feedback? Please join the discussion at discord!