Blockchain-based start of ads to reimbursement contributors if development milestones are not met

A digital advertising startup with the goal of "building a better internet" for web users, publishers and advertisers is starting the second round of its token offering – but with a breakthrough.

Varanida claims that his blockchain was built for three reasons: to improve brand transparency, increase revenue for publishers and offer the public a better experience when surfing the Internet.

The company aims to achieve these goals by "improving digital content online and creating incentives for less intrusive ads that people really want to see". Founded in Lyon, France, four years ago, Varanida claims to have accumulated more than 135,000 users – demonstrating the demand for these changes.

For the second round of its token offering, Varanida is using a new hybrid model that merges the traditional initial coin offering format (ICO) with DAICO – a relatively new concept supported by the founder of Ethereum Vitalik Buterin.

How the DAICO format works

The DAICOs are aiming to make the offerings of initial currencies more secure by involving investors in the initial development of a project – giving them the power to rate the funds they have helped to repay if they believe that inadequate progress has been made. In a word to the DAOs, trust is not given to a team, which means that decisions about how the funds are used are voted.

Although the DAICO model was designed to mitigate the risk of fraud on ICOs and motivate teams to deliver, it requires active participation in contributors' voting – and the system can be undermined if developers behind a project hold a significant part of the tokens .

The CEO of Varanida, Anji Ismail, told Cointelegraph: "Our goal has always been to improve the way the digital market offers services and content, treating the privacy, ownership of data and experiences of online users with maximum respect This round of our ICO will allow our team and our employees to get closer to the realization of this vision, making Varanida part of the evolution of ICOs ".

The start hopes that this agreement will allow its community of users to have a say in deciding which goals will be achieved later – providing the Varanida team with information on the characteristics that stakeholders consider critical. According to the company, any failure to achieve a milestone would result in automatic reimbursements for contributors.

Put an end to "bad publicity"

Varanida says it wants to give back control over the online experience to users, allowing them to decide when to receive announcements and who gets their data. In this way, users can receive a reward in VAD token, unlocking access to premium content from their favorite publishers.

It might seem that it would hurt publishers, but Varanida claims the opposite is true. According to Varanida, websites that use the blockchain enjoy more revenue and this can be reinvested in the support of "quality and engaging content". They are also able to erect paywalls without harming reader experiences and receiving accurate, transparent, verified statistics that enable them to make informed decisions about their business strategies.

Advertisers can rest assured that they are reaching busy users who have opted to see their campaigns – with the Varanida-free network that prevents bots and deletes fake websites. "Innovative formats" also means that brands can explore new ways of capturing the attention and spending of their target market.

The second round of the Varanida token offering ends on October 5th. The third round will be divided into three rounds, with their dates subject to a community vote. Contributors in each of these phases may receive reimbursements if no fixed goals are achieved.