Q2 2021 Update
Find out what we’ve accomplished in Q2 and what’s planned for Q3!
Q2 has seen some big changes, improvements, and growth! At the beginning of 2021, we communicated the team’s plans to streamline the adbank tech and focus on what’s working — all with the goal of adding value to the ADB token & ecosystem.
The BLADE apps (for iOS and Android) launched in Q2, and we’ve continued to see excellent user growth.
Our first big push in Q2 was to develop an improved BLADE/adbank platform to better meet the changing needs of the company and community. The first phase was completed in Q1, and the second phase — mobiles apps — was completed in Q2. Mobile apps have been the most requested feature and we are thrilled to have this key feature available for the community.
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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 2021 Goals Progress — OKR progress
Summary of adbank’s progress in Q2 2021:
You can find our last big roadmap update here. In this post, we outlined what has been achieved so far, and the goals for 2021.
2021’s goals are:
- Focus on What’s Working: The Task Marketplace
2. Get Ecosystem Working
3. Extended Runway
These three key results together will add value to the token & ecosystem, which is our #1 priority in 2021. These three areas of effort are focused on leveraging the explosive growth we’re seeing with the Task Marketplace and dialling down areas of the adbank ecosystem that are not top priorities at this moment. First, we have wound down and sold key areas like Ecig Media, as well as updated the tech so it’s operating efficiently for the current use case. Second, the team has focused on driving up the CPM to the audience we have with the Task Marketplace and BLADE. Third, these combined efforts will result in an extended runway into 2023.
You can see the 2021 roadmap for BLADE here:
You can view all of our monthly and quarterly updates on our blog here.
Jon (CEO) Outlook:
Opportunities & Challenges:
- Mobile apps live and strong user growth
- Planning for a novel approach to proportional rewards (similar to staking)
- Runway extending — valuable tasks being completed
- The flywheel of:
With the major updates coming for proportional rewards (similar to staking) and then in Q4 a self-serve platform we can all see how this virtuous cycle will be able to spin faster and faster!
Q1 2021 Highlights:
- Consistent user growth for BLADE
- Mobile apps live
- Higher paying Tasks are live
- Exited ECig Media
- Costs cut, runway stable into 2023
Update on key areas of the business
Tech
In Q2, Conor and Liam successfully completed the scheduled build and launch of the mobile apps for iOS and Android.
The team explored the possibility of a BLADE browser extension for Microsoft Edge in Q2. Because the majority of users are Android app users, the need for an additional browser extension is not needed at this time.
In Q2, the team investigated a Uniswap integration and found it was not a good option at this time. Instead, the team has developed the HODL Rewards program which will offer users the ability to earn increasing proportional rewards based on the amount of ADB in their ERC20 wallet. This will be developed and launched in Q3. More details will be shared soon!
- Mobile apps are live
Team
You can see everyone on the team on the website at adbank.network and you can read about the final re-org in this blog post. You can read about adbank’s newest team member Liam here. Once we have reached an amount of active daily users on BLADE, we will bring on a dedicated Sales Lead with industry experience and shift resources back to sales. For now, the team is working on aggressive user acquisition strategies.
Runway
Our runway model projects well into 2023 at the current run rate/value. By reducing costs in key areas, we are able to focus on top performing areas like the Task Marketplace. The increasing rate of profitable Tasks has also affected this runway.
Marketing / Sales
In Q2, the team’s goal was to sell an accelerating number of Tasks which will in turn, drive the token ecosystem. Adjusting focus from direct sales to affiliate programs, the team was able to secure several profitable Tasks which have been a big hit with the community. Focusing on both affiliate outreach and traditional sales has opened up new opportunities for adbank. In Q3, we will focus on Affiliate and cold outreach until we see that we can sell direct tasks. In the future, the team plans to onboard a Sales Lead from deep in the crypto promotion world to sell our services.
The monthly referral promotions have continued to deliver exceptional user growth. We will continue to run the referral promotion so that our loyal BLADE supporters can earn extra ADB rewards.
Marketing efforts for BLADE and adbank will continue with the focus being on user acquisition for the BLADE app and browser extensions which will drive increased task completion on the Task Marketplace.
Highlights from Q2 2021:
This quarter we’ve had an exceptional amount of coverage and mentions on Youtube!
Our 2021 Goals Progress — OKR progress
We are focusing on 3 main objectives:
1. Focus on What’s Working:
a. Tighten our focus on the key areas that are working like the Task Marketplace. Tech will be purpose built for the Task Marketplace.
Conor, Liam and the development team worked quickly in Q2 to get the brand new and much-anticipated mobile apps built and launched for both iOS and Android!
b. Relay.digital will be shut down. Ecig will be sold.
Both assets have been sold or shut down.
c. BLADE user growth: continue our strong performance for what has been working to date and really drive the user count.
With the mobile apps launching in June of 2021, we were pleased to see another huge influx of new BLADE users! Adbank has also been getting a lot of attention in the larger crypto community.
Once per Quarter Coverage:
2. Get Ecosystem Working
a. Sell more social boost $x/month. Add additional services
In Q2, the team tested affiliate programs rather than direct sales, which resulted in several profitable Tasks being available to the community. In Q3, we will focus on Affiliate and cold outreach until we see that we can sell direct tasks. In the future, the team plans to onboard a Sales Lead from deep in the crypto promotion world to sell our services.
b. Improve Tech for Task Marketplace — Mobile Apps Live!
Mobile apps are live for Android & iOS!
c. Investigate and Implement uniswap integration (if possible)
Pending further investigation.
d. Tech Stable
Complete!
3. Extended Runway
a. Reduce overhead with cost-effective alternatives: Email marketing & Upwork expenditures.
Complete!
b. ECig transition complete
Complete!
Join our Telegram community where you’re able to ask questions and meet the team! Join Our Community Here.
