Decentralized Advertising with Staking Rewards
Staking Rewards is the leading independent data provider and research platform for Staking and yield-generating digital assets.
We have always been cautious to keep our interface clean and do not plaster the site with annoying ads. But since we are an independent platform without any big funding, we are looking for profit mechanisms to continue delivering the highest quality in research and tools.
After our paid API Release we are now super excited to announce another profit mechanism for Staking Rewards:
Staking Rewards Tokens to control decentralized advertising slots on the StakingRewards.com frontpage.
Initially we are launching two advertising slots, which can be claimed from Monday to Friday.
The first use of the Staking Rewards Tokens (SRT) is to control these advertising slots.
Anyone can buy the tokens on the Opensea Marketplace and redeem them on our website to control the slot.
We have initially minted 4 Staking Rewards NFT Tokens (Ethereum ERC-721). Each Token represents an advertising slot for either an asset or a provider on the frontpage.
What are NFT Tokens?
We have chosen to build on the Ethereum ERC-721 Token Standard for non-fungible Tokens (NFT). Therefore every SRT Token is unique in it’s characteristics. Think of them like rare, one-of-a-kind collectables.
Why did we choose to decentralize our ads?
SRT Tokens give the current owner the right to control which asset or provider is being featured on the StakingRewards.com frontpage. There are many benefits opposed to centralized advertising slots as outlined below:
- Fair & public price discovery via the Open Sea Marketplace
- Automated Ad schedules enforced by smart contract
- Public record of activity on the Blockchain
- Resale rights
- Immutable terms and conditions
Who can advertise?
Everyone can buy the Staking Rewards Token via an auction or offer on the Open Sea Marketplace.
What can be advertised?
Every Asset that is listed and every Provider that is verified on Staking Rewards can be selected for the 5-days advertising period.
Every Provider can create a Profile and get verified for free. Just get in touch with us for further details.
New Assets are subject to our listing requirements and are advised to get in touch with us.
How much does it cost?
The price for SRT Tokens is determined by the Market via a public and fair Auction on Open Sea. The Dutch Auction (linearly declining price over time) will start at $1200 and go as low as $1 on Sunday.
When can i buy the Token?
Every Monday to Sunday we will trigger a dutch auction for the tokens of the coming week with a declining price from $1200 to $1.
Apart from that everyone is free to make offers to the token owner at any time.
What currency is used to purchase the token?
Currently you can purchase the tokens with DAI directly in the auction or make an offer in any other currency like ETH, USDC or USDT. Just select the currency of your choice in the Opensea Auction Interface.
How can i buy the Staking Rewards Token?
- Go to our Opensea Storefront at https://opensea.io/assets/staking-rewards-token
- Select the Token you want to buy
- Connect your Metamask Account with your funds
- Select your currency
- Click “Buy” or “Make an offer”
- Confirm the transaction in Metamask
Done! You are now the official and only owner of this Staking Rewards Token.
How can i claim my token?
- Go to https://www.stakingrewards.com/redeem
- Connect your Metamask Account in which you store the token
- Enter the Token ID
- Select the Asset or Provider you would like to promote
- Click “Claim your ad”
- Confirm the transaction in Metamask
Done! The selected asset or provider will automatically show up on the frontpage for the period that is defined by the token’s attributes.
You can change the asset or provider you would like to promote by repeating the above procedure.
Which tokens are for sale?
Initially we have minted 4 Tokens:
- Staking Rewards Token #1 (Featured Asset from 27th April — 1st May 2020)
- Staking Rewards Token #2 (Featured Asset from 04th May — 08th May 2020)
- Staking Rewards Token #3 (Featured Provider from 27th April — 1st May 2020)
- Staking Rewards Token #4 (Featured Provider from 04th May — 08th May 2020)
We will continue to mint more tokens for the advertising periods later on.
What happens to the slots when no token is being redeemed?
From Monday to Friday we will promote the advertising opportunity itself, if no token is being redeemed.
On the Weekends we will feature new Listings and exciting projects selected by our Research Team.
How does it work?
The ownership of the Staking Rewards Token provides the right to select an asset or provider that is being featured on the StakingRewards.com frontpage for a certain advertising period. The Type (Asset or Provider) and the period is defined by the individual token’s attributes. The Terms and Meta Description of the Tokens are stored in IPFS, so they cannot be changed.
The Redemption of the Token on our Website initiates that the slug of the selected asset or provider is written into the Smart Contract. Only the owner of the token can change that. Our Frontend is directly calling the Contract to check which slug has been selected.
Open Source Project
The Smart Contract for the Staking Rewards Token is fully open source and can be reviewed on Github or Etherscan.
Any feedback is highly appreciated!
Many thanks and credits go to Blocklytics who inspired us with their decentralized promoted pools.
Originally published at https://www.stakingrewards.com on April 21, 2020.
