Q1 2022 Update
Q1 has seen the adoption of new marketing strategies, tech updates, new tasks, and more users joining the Adbank community. At the beginning of 2021, we had communicated the team’s plans to streamline the Adbank tech and focus on what’s working — all intended to add value to the ADB token & ecosystem. In Q1, we launched Beta Partner to allow individuals to launch microtasks.
On February 14th, the much-awaited Bade Self-serve platform (Beta Partner) was officially launched. The self-serve platform enables users to launch their tasks, and schedule when to run them. This gives you the power to grow your social media channels within a short time.
In Q1, we introduced new marketing strategies that we shall continue to implement in the coming quarter and the rest of the year.
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As always, the update will cover the following sections:
Outlook and reflection from the CEO
Update on key areas of the business
● Tech
● Team
● Runway
● Marketing / Sales
Our 2022 Goals Progress — OKR progress
Summary of Adbank’s progress in 2022:
You can find our last big roadmap update here. In this post, we outlined what has been achieved so far, and the goals for 2022.
2022 goals are:
- The successful launch and growth of the task marketplace adding features, more tasks, scaling as more people use it, etc.
- Solve the issue of Ethereum transaction costs being too high by investigating a layer 2 sidechain.
- Increase marketing activities with the inclusion of videos to reach more new users and result in more Blade downloads and adoption of the self-serve platform.
You can see the 2022 roadmap here:
You can view all of our monthly and quarterly updates on our blog here.
Jon (CEO) Outlook:
The pace of meaningful change in the platform has almost never been higher. The platform the team led by Conor has built allows for the accelerating rate of change.
Launching the self-serve platform was a huge milestone and the adoption has continued to be slower than we want largely due to the GAS fees on Ethereum. Conor has come up with a great layer 2 solution that allows for rewards to be issued in ADB token on Polygon. The ERC-20 ADB is going nowhere but now you can get rewarded in an interchangeable Polygon ADB token!
With the GAS issue solved, Blade which is primarily used on mobile will become a true Web3 application.
Lots of exciting developments continue and at a pace we have not seen in a LONG TIME!
This new functionality is going to open up the marketing options!
Q1 2022 highlights:
● Launch of new Adbank tasks
● Launch of Blade Self-serve platform
● Investigated and found a gas solution
Update on Key Areas of Business:
Tech:
The Tech team finalized the Beta Partner platform (Blade Self-serve platform). Individuals can now launch their tasks and schedule when to run them. In addition, you will be able to track the progress/ performance of your tasks in real-time. Bug fixes and tech updates will be implemented throughout the year as the need arises.
In Q1, Conor set out to investigate a sidechain (Ethereum Layer 2 reward strategy) that will solve the challenge of the high cost of gas and the removal of the reward threshold. A solution has now been found and you will receive communication on how to tap into this development.
In Q2, the team will introduce Ethereum Layer 2 rewards and also develop a new version of Blade. These exciting developments will be shared in an updated roadmap and how these will be distributed in the remaining quarters of 2022.
Team:
You can see everyone on the team on the website at adbank.network. We shall continue adding human capital resource(s) when the need arises to effectively support the business and serve our community. For now, the team is working on aggressive user acquisition strategies and incorporating tech updates.
Financial/Runway:
With the launch of the self-serve platform, we look forward to many more tasks being completed, growing more Blade users to execute these tasks and these will positively impact the ecosystem!
Our runway model projects well into 2023+ at the current run rate/value. By reducing costs in key areas, we can focus on top-performing areas like the Task Marketplace.
The solution to high gas fees has now been found. This will positively impact the task marketplace through competitive task pricing. In addition, it will open up a world of opportunities for the Blade Task marketplace, the self-serve platform, and result in the continued extension of our runway.
Sales and marketing:
We have been seeing truly amazing user adoption and because BLADE users are Task Marketplace participants, we are seeing the Task Marketplace become the key focus area of the Adbank ecosystem. Referral rewards and Hodl bonus are now a permanent fixture. This aims to reward our loyal BLADE users.
Following the launch of the Self-serve platform, marketing initiatives are now geared towards the promotion of the same, BLADE and Task Marketplace.
In Q1 of 2022, we increased marketing initiatives especially on video through our YouTube channel and TikTok account. We have also started webinars to educate and inform our community on our mission and industry news and also onboard new users. In Q2, we shall also promote our social media content to reach more people.
BLADE:
Promotion, Marketing & Technology
The referral promotion has taken off and the feedback is great. Referral promotion and hodl rewards will now be a permanent fixture! We will continue to run the referral and hodl promotion so that our loyal BLADE supporters can earn extra ADB rewards.
Marketing efforts for BLADE and Adbank will continue. Most of the marketing initiatives will focus on the new self-serve platform. This will lead to user acquisition for both BLADE and the greater Adbank network. Find out how Blade and Adbank work in this blog post.
The team will undertake regular tech updates to continue providing an improved user experience for the Task Marketplace. Any fixes will be implemented as needed throughout 2022.
The BLADE Marketplace:
The Blade self-serve platform will see an accelerated launch of micro-tasks, especially with the just-found gas solution, and drive the token ecosystem in 2022. Community members will also earn rewards on the task marketplace and utilize their rewards on the self-serve platform or deploy rewards to other uses.
Bug Fixes:
Nothing is ever perfect, so we plan to have the resources available to quickly fix any bugs or issues that surface throughout the year.
Stay up to date on everything the team has been up to on the blog. Don’t forget to join the Telegram channel here to chat with the team and get all the news first!
