Introducing The ADB Token Adoption Fund
After we sold out the ICO early in January there was a handful of people who failed KYC and as a result we refunded their ETH and were left with some unsold tokens.
The plan in the whitepaper was to add these tokens to the reserve but the decision was made to give them back to the community.
Unfortunately there were some issues that were faced with this solution that have made an airdrop challenging. A lot of gas was burned to only marginal benefit to some token holders, less so to the overall community, to get the tokens dispersed.
Additionally, the rapidly changing legal environment would require that we would need to KYC everyone that would receive these tokens and exclude many countries, even for an airdrop. The logistical challenge is greater than the reward to the community.
Our improved plan for the remaining tokens (approx. 1% of circulating supply) is to shift the tokens planned for the second ADB airdrop to a pool that we are naming the ADB Token Adoption Fund.
The tokens in this fund will be used to benefit all of the Adbank community in a couple ways:
- Direct Incentives for Major Advertisers & Publishers. We will leverage this pool to help incentivize bringing advertisers and publishers on board and remove barriers as needed.
- Community Referral Incentives. Want free tokens? Refer an advertiser or publisher and you will receive 10% of their initial budget in ADB tokens as a thank you when they sign up.
Our hope is that this outcome is significantly better for the community than an airdrop and accelerates our core growth faster than a token burn to ultimately benefit all ADB token holders in a more meaningful and long-lasting way.
