Spotlight Series: adToken Rewards
Written by Hunter Gebron
This Spotlight Series highlighting important aspects of the adChain Registry will be published weekly until the April deployment of the adChain Registry to the Ethereum Mainnet.
The idea of Token Curated Registries (TCR’s) is starting to gain traction. A token that’s value is tied directly to the contents of a curated list makes sense to people. The contents of the list could theoretically be anything:
- The best colleges in the country
- The worst restaurants in New York City
- The most attractive dogs on the planet
- Or in adChain’s case, a list of websites best suited for serving digital ads
But aside from the primary goal of the adChain Registry — to arrive at a curated list of top quality websites serving digital advertisements. There are more immediate benefits for users actively engaged in the curation process, such as adToken rewards.
Rewards Make People Happy
There’s no denying it, whether it be in the form of airline miles or discount points at the grocery store, earning rewards make people happy. That is why we built a rewards system into the adChain Registry.
Because if you play the game well, you should win something, right?
Here’s how it works
Applicants and Challengers battle head-to-head in the adChain Registry.
Applicants are vying to get into the registry and Challengers are trying to keep them out!
The prize that is up for grabs is the adToken deposit each has staked. We can think of it in poker terms as their buy-in. Or in Western times as a good old fashion bounty.
The bout between Applicants and Challengers is ultimately decided by the adToken community through voting.
By using adToken, anyone can vote (1 vote = 1 adToken). So if you vote with 1,000 adToken, then that counts as 1,000 votes.
After the timed voting period has ended, it’s time to reveal the winner. Will it be the Applicant or will it be the Challenger? That depends on which of them received the most votes.
If the Applicant has the most votes, then they are the winner, and the website they’ve applied is added to the registry. As their reward for winning, a part of the Challengers deposited stake is forfeited to them as a bounty.
Likewise, if the Challenger wins, then the website the Applicant applied gets rejected from the registry. As their reward for winning, a part of the Applicants deposited stake gets forfeited to them as a bounty.
Do the voters get anything!?
Of course! Voters receive adToken rewards if they voted on the winning side. A part of the deposited stake forfeited from the loser is also dispersed proportionally to voters on the winning side.
The below illustration shows how adToken is dispersed following a Challenger victory:
Remember To Vote Judiciously!
As a final reminder, while earning adToken rewards is great; applying, challenging and voting should not be taken lightly. The overall value of adToken is dependent on the quality of listings in the registry. So do your homework and make sure that you play smart! The most important thing is curating a high-quality list of websites for serving digital advertisements, one that the industry can use. All else should be considered secondary.
To learn more about earning adToken rewards click here!
To access the adChain Registry in beta on the Rinkeby testnet click here!