KuCoin AMA With Ambire AdEx (ADX) — The Decentralized Solution for Digital Advertising That Improves Transparency and Protects User Privacy
Dear KuCoin Users,
Time: December 17, 2021, 11:00-12:29 (UTC)
Ambire AdEx brings full transparency to digital advertising, reduces ad fraud, and protects end users’ privacy. With Ambire AdEx, you cut off intermediaries and save on unnecessary fees. They help advertisers and publishers maximize results and revenues - with the added value of real-time verifiable reporting.
Official Website: https://www.adex.network
White Paper: https://ambiretech.github.io/adex-protocol
Georgi Vladimirov — Community Manager of Ambire AdEx and Ambire Wallet
Georgi's journey in the crypto world started in 2016 and went through various crypto branches, including mining, ICO investing, and project management. He has huge experience building and organizing communities and is incredibly passionate about his work at Ambire.
Q&A from KuCoin
Q: What is Ambire AdEx? Is AdEx a Google Ads alternative?
Georgi: Ok, that's the perfect question for starters. Everyone is looking for a Google Ads alternative nowadays and we have it ready and up and running since 2017.
Ambire AdEx is a new-generation solution aiming to address and correct some of the most prominent inefficiencies of the online advertising industry: user privacy misuse, ad fraud, lack of transparency in reporting, etc. The platform brings full transparency to digital advertising and helps both advertisers and publishers to maximize their results and profits, all while providing real-time verifiable reporting.
Ambire AdEx is a fraud-proof Google Ads alternative, which does not ask for any unnecessary fees to be paid and is completely transparent and verifiable.
Q: Who can use Ambire AdEx? Is AdEx available for all publishers?
Georgi: Ambire AdEx is a platform, which can be used by anyone, with the exception of those promoting provocative, misleading, racist, offensive or any other inappropriate behavior.
We ensure our publishers' quality by not accepting websites that encourage or reward random clicks/ad views, employ ad fraud mechanisms, or offer no content value to users.
But other than that, everyone else is welcome onboard! There are no geolocation restrictions too.
Q: How quickly can someone get started? Is a crypto wallet needed to sign up for Ambire AdEx?
Georgi: Oh well, it's hard not to love this question in 2021, especially when our other product that we recently just launched is a smart crypto wallet, but I'll give you more details on that later on in the AMA.
You can start using the Ambire AdEx Platform almost immediately - you need to first open an account on https://platform.adex.network
After you are ready with that, you will need to select your role - Advertiser or Publisher, don't worry, you can easily switch between the two if you change your original plans or you can even go with both at the same time - many people are doing it!
Since the platform is fueled by DAI and every campaign is funded with DAI, you definitely need crypto!
You are required to have a crypto wallet if you are a publisher because this is how you receive your payments for the work you have committed and the ad space that you have provided.
If you are an advertiser, you can either directly deposit DAI and fund your campaigns or you can buy DAI using our onramp integrations inside. You can even exchange other crypto assets, again using an integrated third-party solution.
Q: What pricing models and payment methods does AdEx support? How much does it cost to advertise on AdEx? How does someone pay for AdEx ads?
Georgi: Currently, Ambire AdEx works only based on CPM and we pay our publishers for each impression they serve on their websites. The same stands for advertisers who pay only for real impressions, and payments are automatically processed on the Ambire AdEx platform.
One of the benefits for advertisers is that they are in full control of their advertising budgets - we do not have any minimum requirements towards how much they invest in Ambire AdEx. Advertisers are free to deposit as much or as little as they wish and can set their CPMs, campaign budgets and periods accordingly.
Q: Please state channels and payment channels - what are they and why are they needed?
Georgi: Beautiful, beautiful question. This is something we are exceptionally proud of because actually, we ended up building the largest payment channel network on Ethereum currently.
Payment channels are a mechanism to execute payments instantly and with very low fees by not executing each payment on the blockchain. Instead, the balances between the participants are guaranteed in a way that can be settled on the blockchain at any time, therefore benefitting from the underlying security.
Ambire AdEx has always been a solution for digital advertising, so we didn’t start the project with payment channels in mind, but we quickly realized we needed such a solution. There is a large number of interactions between advertisers' side and publishers' side on the platform - impressions are reported and per-impression payments are carried out, and this is why scalability is crucial.
They have a few very important implications for Ambire AdEx:
- Firstly, it allows us to minimize the number of on-chain transactions;
- Secondly, because making payments does not incur any extra fees, we can use micropayments for each individual impression (or any other type of payable event).
This means publishers have a guarantee they can withdraw their revenue at any given time, unlike traditional systems where you can only withdraw your earnings for a set, usually long periods, and/or only if you reach a certain threshold.
- But most importantly, since the payments are per impression, this eliminates any possibility that an advertiser would cheat a publisher out of their earnings. This also makes reporting completely transparent because you know about every impression and how much was paid for it in real-time.
We came up easily with a name for that - we decided to name our own payment channels technology OUTPACE: Off-chain Unidirectional Trustless PAyment ChannEls.
You can actually follow our real-time stats here: https://explorer.adex.network
Q: Can you talk a bit about ADX tokenomics?
Georgi: The ADX token is another thing we are really proud of. Since its introduction in 2017 after our super successful ICO, our ADX token is constantly being utilized in our work and very well accepted by the audience.
Almost 80 million ADX tokens are staked on our platform from our users and supporters, ensuring the work and performance of the validators and keeping Ambire AdEx function at the peak of its capabilities.
The ADX tokens staked in the ADX Loyalty Pool allow governance voting, and this is how, for example, our community decides how much the staking rewards should be for the upcoming year.
We really loved seeing the ADX-USDT pair on KuCoin and we know that your community is eager to participate in such real-world projects, where the token is actually crucial for the functionality of the product.
You can find ADX staking on: https://staking.adex.network
Q: Can you share with us about your recent rebranding from AdEx Network to Ambire?
Georgi: During the 4 years of our company’s existence, a lot of things happened - we created and grew a decentralized ad network from scratch, we launched the AdEx staking portal and reinvented the ADX tokenomics, we rolled out a private beta of the AdEx Wallet, we carried out a number of major upgrades to our smart contracts, we shook hands for a number of meaningful partnerships and collaborations. We never stopped working, learning and advancing, and we decided that we needed a change, which would reflect the path, goals and ambitions of our company.
“Ambire” is an Italian verb that means “to aspire, aim, strive” and this is exactly why we chose it as our company name, to reflect our ongoing aspiration for excellence and perfection.
Q: What upcoming announcements should we be on the lookout for?
Georgi: Thank you for that question!
We just rolled out the final version of our newest product, a DeFi-focused smart wallet that's both powerful and easy to use, solving common pain points such as gas fee management, onboarding and frontrunning/sandwiching.
It's called Ambire Wallet and you can find it here: https://ambire.com
We are incredibly proud of introducing a security model that attracts not only seasoned crypto users but also people who are new in the sector. For example, you can start with a simple email/password login but switch to hardware wallet authentication at any point without having to move any funds, making it suitable for a wide audience of crypto holders who find DeFi too complicated or difficult.
Ambire wallet is the first open-source smart wallet in the space!
Free-Ask from KuCoin Community
Q: Can you share your social media links so we can keep ourselves updated?
Twitter Ambire AdEx: https://twitter.com/AmbireAdEx
Twitter Ambire Wallet: https://twitter.com/AmbireWallet
Telegram Official Group: https://t.me/AdExNetworkOfficial
And most importantly, don't forget to subscribe to our newsletter on https://ambire.com (bottom of the page) as this is the only way to receive the latest news, updates and promotions around us.
Q: Since NFT is popular nowadays, is there a plan for NFT integration?
Georgi: You can find an NFT dashboard in our newest product: Ambire Wallet, where you can store and browse through all your NFTs.
Check it out here: https://ambire.com
Q: Does your project support staking program? If yes, how does your stake system work? What is the requirement for users if they want to stake in your platform?
Georgi: Yes, we have staking for ADX with amazing rewards available on: https://staking.adex.network
There is no minimum required. The only thing you need is ADX tokens and a compatible wallet.
Find more about how to stake here: https://help.ambire.com/hc/en-us/articles/360015896160-How-to-stake-
Currently, we at Ambire are fully focused on delivering amazing products and introducing our community and every crypto user to them.
Our Ambire Wallet will be the next big thing in DeFi - a non-custodial smart wallet, which is completely open source and will allow many new DeFi users to jump onboard.
We are also planning to release a brand new version of Ambire AdEx in 2022 - Ambire AdEx V - and concentrate on attracting more publishers and advertisers onboard.
Q: How did you get the community involved in developing the project and how do you build a strong community to grow globally?
Georgi: We have always been and will remain extremely focused on our community. They have always been behind us all the way from 2017 until now and we see great reactions towards both our products - Ambire AdEx and, of course, the brand new Ambire Wallet.
We are looking to see you, the people from the KuCoin community who like Ambire, joining there and following our great journey together.
Q: If the bear market comes, will your token probably dump? Do you have any plan to prepare for this bear market? How will you handle the panic sell?
Georgi: We have already survived big fluctuations in the market that happened between 2018 and 2020, and yes, we are more alive than ever!
Ambire has a team of extremely dedicated crypto-savvy people who know how to deliver products that have real-world use cases and that will continue being used even if there is a downtrend in the market.
We believe this is what really differs us - our hunger to always optimize and deliver!
KuCoin and Ambire AdEx have prepared a total of 3,600 ADX to give away to AMA participants.
1. Free-ask section: 135 ADX
2. AMA activity: 3,465 ADX
Activity 1 — Quiz: 2,700 ADX
Activity 2 — Price Guess: 540 ADX
Participation Rewards: 225 ADX
. . .
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