Q2 2022 Update
Q2 greatest highlight was the unveiling of the long-awaited gas solution. Following the development of a sidechain solution, we are now on the polygon network and Blade users need not wait to reach a certain threshold to earn ADB rewards. Rewards are now sent instantly upon task verification for 10,000x (times) less gas than the Ethereum Mainnet!
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 (the Self-serve platform) to allow individuals to launch microtasks and run their social media campaigns fast, cost-effectively, and can track results in real-time.
Marketing and sales efforts will continue to bring on board more Blade users to the Adbank community and more partners to use the Self-serve platform to run their social media campaigns effectively and efficiently. Our unique selling proposition is guaranteeing Beta partner users real followers who are KYC-verified.
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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:
Following the finding of a gas solution, it necessitated a need to revise our 2022 roadmap and incorporate the tech changes, developments, and updates that will come with this shift to Ethereum Layer 2 migration.
Find below, the updated 2022 roadmap.
You can view all our monthly and quarterly updates on our blog here.
Jon (CEO) Outlook:
With the challenge of the high cost of gas resolved and the development of Beta Partner (the Self-serve platform), the focus is now on marketing the Blade task marketplace and onboarding more people to partner and find quality followers through the Self-serve platform.
We always endeavour to provide the best tech and support. The development of Blade Web3 is at an advanced stage and will place users in an advantageous position to seamlessly execute tasks on the marketplace.
Exciting promotions will be coming up on the Polygon network and on the Self-serve platform to reward our loyal community.
We are also working on a competitive pricing model to give you more options to fund your Beta account and even more affordable rates to run your social media campaigns!
Q2 2022 highlights:
● Investigated and found a gas solution (migrated to the Polygon network)
● Introduced informative webinars
● Enhanced marketing initiatives through videos on YouTube and TikTok
● Blog mentions
Update on Key Areas of Business:
Tech:
In Q1, Conor set out to investigate a sidechain (Ethereum Layer 2 reward strategy) that would solve the challenge of the high cost of gas and the removal of the reward threshold. A solution was found in Q2 and Blade users can now earn ADB rewards instantly (as soon as the submitted tasks get verified!)
In Q3, the Blade Web3 version will be unveiled. Ethereum Layer 2 rewards, Beta partner promotions, and a competitive task pricing model will also be introduced.
Bug fixes and tech updates will be implemented throughout the year as the need arises.
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.
Blade Web3 version and competitive task pricing 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 are seeing the Task Marketplace become the key focus area of the Adbank ecosystem. Referral rewards are now a permanent fixture. Hodl bonus will be integrated into the Polygon network and the aim is to continuously 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 Q3 of 2022, our focus is to deepen and strengthen relationships with existing and prospective partners and accelerate marketing efforts to onboard more new users for Blade and Beta partner platforms.
BLADE:
Promotion, Marketing & Technology
The referral promotion has taken off and the feedback is great. Referral promotion and hodl rewards will remain permanent fixtures! We will continue to run promotions so that our loyal BLADE supporters can earn extra ADB rewards.
Marketing efforts for BLADE and the Self-serve platform will continue. Most of the marketing initiatives will focus on the 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.
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!
We look forward to hosting you on Thursday, 21st July 2022 at 1.00 PM EST during AMA as we review the quarter that was and the plans we have for the future.
