Amplifi Dao

Should I buy $AMP?

AmpliFi AMA with CRE8R DAO Primer: AmpliFi is a project that sprung up from the marketing needs of CRE8R DAO. It aims to be the first affiliate marketing protocol with onchain KPIs tracking capabilities. In this AMA summary with Dunks, co-founder of AmpliFi and multisig of CRE8R DAO, we find out what problem AmpliFi is solving. Read all these and more (including plenty of alpha) in our summary highlights below. Team Background of the team Consists of 2 co-founders, Dunks411 and Jono Dunks411 Was doing internet marketing before BTC was invented Founded and ran a full-stack digital agency for 10 years Bought BTC in 2010 and am a proud victim of “The DAO Hack” Been in crypto full-time since 2019 Also a multisig of CRE8R DAO & general purpose janitor Jono Full stack developer at Clipto DAO The rest of the team consists of the whole squad at CRE8R DAO, including Bee and DeFi_Made_Here List of creators in CRE8R DAO: https://cre8r.vip/creator-profiles Bee background - outside of crypto: management, workshop & event planning at a non-profit organization Entered the cryptoverse in 2013, full time crypto since 2020. Previously contributed to Growth & Marketing at Yearn Finance. Currently a multisig of CRE8R DAO and contributor at Dopex. Nini background Outside of crypto: Finance background, ex-banker Got into crypto late 2016, full transition since 2021. Currently part of Dopex’s core team, responsible for Chinese community & (growth) marketing. AmpliFi What is AmpliFi in a nutshell? A platform for tokenized results-based marketing, similar to affiliate or referral marketing in the traditional sense but catered for crypto The problem with marketing now: Most projects are unwilling to spend large amounts of money on marketing without knowing what the results will be Large campaigns involving hundreds of creators, publishers and influencers will be a nightmare to manage because individual deals have to be made, often with upfront payments, it’s very hard to gauge outcomes ahead of time & its easy for noobs to get scammed. Grants-based or bounty system where creators apply to perform some marketing-related action is an alternative, but applications are time-consuming to vet through and the results are not promised. In fact these bounty programs would have many more applications when paired with a referral program. Proposed solution with AmpliFi: Results-based affiliate and referral programs with onchain KPIs Ability to scale to any campaign size and handle any number of creators, affiliates & publishers without ongoing maintainanceeffort from the client The client only pays the creators on verifiable onchain results Participation can be permissionless, thus fitting the ethos of crypto (though the system is flexible enough to also whitelist creators by setting a range of criteria) Why the name AmpliFi? ‘AmpliFi’ comes from ‘amplify’, which is to use an electronic device or circuit to increase the magnitude of the signal applied to its input The concept of amplification has long been applied to content marketing The amplification circuit refers to the sales funnel or viral loop (in growth hacking) Amplify has been changed to AmpliFi - the ‘Fi’ refers to finance, e.g. DeFi TLDR: AmpliFi amplifies any growth-related metric by putting incentives on it Origin story CRE8R DAO is often asked about metrics to show the results of the DAO’s marketing effort Unfortunately, there is no such solution available in the market The onchain result of any marketing effort is generally guesswork CRE8R DAO started experimenting with methods of tracking individual creator’s impact “In any other form of online marketing, it’s easy enough to set up attribution for bottom-line metrics like purchases in an online store. 30-day trials in a SAAS. But there is no plug-and-play solution for attribution of onchain events to marketing efforts. This means the answer to the question of what the onchain results of any marketing effort is generally guesswork.” - Dunks This involves using special tracking links with a small script installed on the client’s app Tested it on an NFT project called Degens Farm and it worked very well This sowed the seeds of AmpliFi Who are the various stakeholders in AmpliFi? Two stakeholders: creators and integration partners Creators: Literally, anyone who publishes content online can be a creator Even though AmpliFi targets the crypto market initially, it is open to non-crypto native creators as well Examples of creators include newsletter writers, educators, social media influencers, community/group owners, users of crypto etc Integration partners: These are the partners that will benefit by working together with AmpliFi and can be subdivided into 4 main areas of tooling, financial, services and governance Tooling - Dework & Juicebox Integrations are in the works already Financial - DeFi protocols Services - CRE8R DAO will be integrated with AmpliFi because the content generated can serve as a starting point for AmpliFi to amplify. Can also be integrated with other service DAOs Governance - AmpliFi has governance-related features & can be used as a Web3 political campaigning tool as well as in bribe-related matters (paying governance token holders to direct liquidity-related rewards) Which chain is the project building on? Campaigns can handle attribution for any onchain goal on any chain AmpliFi does not require its own smart contracts to implement several campaign types $AMP - the governance/reward token will be multichain Any competitors? Not that the team is aware of So far, AmpliFi is the only general-purpose affiliate/referral platform for Web3 How AmpliFi Works User’s Journey How to sign up A user needs to verify their Twitter account with an Ethereum wallet address by signing a message and posting a tweet on that account The user will be given a link tagged to his account and that can be shared anywhere How to use On the app, one can explore campaigns for different protocols Each campaign has details about the project and what the incentives are for sharing links, as well as the KPIs to achieve for a referrer to get paid How is payment determined? Measurement of KPIs differs for different campaigns KPIs can be in terms of milestones reached (get a certain amount of TVL) or based on a set frequency (weekly, monthly etc) A user is paid solely on the KPIs set for a campaign Example: A $1M USDC campaign is set up with a KPI of $100M TVL coming from AmpliFi referrers A referrer whose links can be attributed to $10m TVL (10% of KPI) gets $100k USDC (10% of $1M) There will be fees (% to be determined) paid out to AmpliFi DAO that will be accrued to veAMP holders This is to encourage $AMP holders to lock their tokens and not dump it How does AmpliFi earn its revenue from? Each campaign will have a fee set as a percentage of the pledged campaign rewards by the client This fee is set currently at 10% but can be adjusted from campaign to campaign Example: A $100k campaign pledged by the client to AmpliFi will have a fee of $10k The fee will be sent to AmpliFi DAO and be rewarded to those who lock their $AMP (i.e veAMP) How AmpliFi incentivise clients to come on board? There is no solution out in the market that can tie down marketing content to actual onchain KPI, but AmpliFi can do that This can reward people who can best do the job rather than rely on some pseudo metrics like followers as a gauge of marketing prowess Hence clients pay for results rather than pay for an account with huge followers There will be 1-1 matching of incentives provided by AmpliFi in the form of $AMP, at least initially Example: In a campaign, a client commits $500k worth of tokens to pay out referrers in proportion to their contribution to achieving the campaign KPI goals, then AmpliFi will also match it by providing $500k worth of $AMP Whitelisting / curation of Referrers Different conditions can be set based on onchain activities AmpliFi campaigns are flexible enough to be able to whitelist referrers based on the following (non-exhaustive): Actual usage of the client’s protocol Selected list of Twitter handles Roles in certain Discord servers Measures can also be taken to control content and referrer quality to discourage spam and people from gaming the system AmpliFi DAO Any name for the community? Ampbassadoors is the best so far Why is AmpliFi structured as a DAO instead of just a Web3 product? The goal is to have thousands of affiliates that can share ownership and responsibility for the platform This cannot be possible without AmpliFi having its own token and governance structure as a DAO Decentralisation is important but has to be implemented in stages when ready AmpliFi will be governed by CRE8R DAO until enough $AMP token is released and sufficiently distributed This is estimated to take 3 to 6 months time when the campaigns start running on the platform A good gauge will be to have 10 to 20 clients who are using or had used AmpliFi & generated significant revenue. Thereafter, governance will be taken over by $AMP holders What strategies will you use to build up the community? The strategy is to reward people with an extra share of the platform ownership A list of thousands of Twitter accounts & websites will be drawn up Each of them will their own conditional airdrop allocation and this allocation is earned in proportion to normal referral earnings on AmpliFi This will quickly grow, hitting critical mass and achieving enough network effects to have a life of its own AmpliFi has its own referral/affiliate campaign with ~10 of total supply allocated to onboarding new affiliates - the KPI of this campaign is measured in terms of results on other AmpliFi campaigns. By rewarding affiliates in the AmpliFi Meta-Referrals campaignpeople with an extra share of the platform ownership based on the earnings of their referees on other AmpliFi campaigns (this ties the meta referrals campaign back to onchain KPIs. Tokenomics Native token is $AMP The utility will be for governance (in near future) and earning fees & bribes. All the revenue will accrue to veAMP holders and the treasury, which is governed by veAMP holders $AMP will be tradeable on the secondary market with a liquidity pool This will not be done immediately upon the token launch Details of this will be announced The AmpliFly wheel Client pledges a sum to start a campaign with AmpliFi AmpliFi matches an equivalent amount with $AMP to boost the rewards for referrers $AMP By distributing to referrers to represent ownership of the platform -> Claiming $AMP involves LPing & locking for 1 year which gives a claim on fees. ->More clients because referral programs get boosted by $AMP - > more referrers because more client $$ plus $AMP -> better results and more scale for clients -> more earnings for referrers. $AMP LPing & locking for veAMP gives the platform time to grow and generate a lot of fees for veAMP stakers before liquid $AMP starts coming on to the market. Any airdrops for the $AMP tokens? As CRE8R DAO is the incubator for AmpliFi, those who are CRE8R token holders will have a special allocation In addition: Publisher/website-based conditional airdrop - SEO and traffic metrics will be used to determine the amount Twitter airdrop - Follower counts & quality metrics will be used to determine the amount Address based conditional airdrop determined by protocol usage & governance metrics CRE8R Token holders & treasury have a very special place in the token allocations considering that the project is incubated by CRE8R DAO Publisher Website based conditional airdrop - with SEO and traffic metrics being used to determine amount. Twitter airdrop with follower count & quality metrics being used to determine amount.Matching program as incentives for clients with client project and budget being used to determine matching amount. Address based conditional airdrop determined by protocol usage & governance metrics Security Any audits? veAMP is a direct fork of veBAL, with the only change being the removal of shorter lock periods As such, this is probably better suited to bounty programs than an audit More details will be announced closer to the time of the $AMP launch The function for Claiming LPing and locking all under one transaction is under consideration for audits At the very least, there will be code reviews and bug bounties set up AmpliFi has been not funded at this stage so full audits are not feasible currently Payouts for certain campaign types handled by 0xSplits are audited: https://github.com/0xSplits/splits-contracts/blob/main/audit/0xSplits_A-1.pdf Measures to prevent people from gaming the system Not an issue for campaigns where the KPI is in protocol fees For other campaigns with KPIs that measures new users, existing addresses that are already using the protocol will not be qualified for counting towards referrers’ payout There are mechanisms to prevent gaming the system by setting up new addresses Example: In a campaign, the KPI is related to borrowing on a money market Existing borrowers are already disqualified as part of the referrer’s payout If existing borrowers paid back their loans and send their capital to new addresses to borrow and deposit into the protocol, AmpliFi can track them These new addresses can be disqualified too What if a CEX or tornado cash is used so that the addresses are masked? AmpliFi can discount that tranche of recycled capital from the campaign's KPI goals Example: If 100k is withdrawn and tornado cashed, the next 100k (or a percentage of it) can be discounted towards the campaign KPI goal Effectively that means the next 100k is treated as recycled funds and therefore disqualified This approach spreads out the “cost” across all referrers and saves the protocol from paying for something they already had Roadmap Roadmap for the next 6 months to 1 year 1 Month Funding round for early AmpliFi investors. Seed round available via Juicebox Onboarding for AmpliFi users and talking to potential clients, with CRE8R DAO doing educational marketing content to spread the word Soft launch with the first campaign going live 1 to 3 months Launch of liquidity pool for $AMP AmpliFi KPI-based liquidity mining & referral programs for $AMP Clean up of UI and backend for $AMP claiming and campaign payouts 3 Months Launch of veAMP for locking $AMP and start of governance by veAMP holders Updates on AmpliFi backend, including Zapps on certain campaigns Building tools to transit to a full DAO model, including voting 6 Months to 12 months Onboarding larger projects and scaling affiliate networks beyond the crypto space Ability to help web2 businesses transition their referral programs to tokenized models. Total world domination! When is the expected shipping date for the AmpliFi? Expect to see campaigns live by August 2022 All information presented above is for educational purposes only and should not be taken as investment advice. Summaries are prepared by The Reading Ape. While reasonable efforts are made to provide accurate content, any errors in interpreting and summarizing the source material are ours alone. We disclaim any liability associated with the use of our content.