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. All these plus more (alpha!) in our summary highlights below.
Team
Background of the team
Consists of 2 co-founders, Dunks411 and Jono
Dunks411
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 and also a multisig of CRE8R DAO
Jono
Full stack developer at Clipto DAO
The core team consists of bee_926 ,defi_made_here 0xnardie, t0rbik, and many others from CRE8R DAO (https://cre8r.vip/creator-profiles)
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 (or tokens) 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
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
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 without effort from the client beyond the setup phase
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 financial incentives on proven viral growth hacking systems
Origin story
CRE8R DAO is often asked about metrics to show the results of the DAO’s marketing effort
“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 the attribution of events to marketing efforts. This means the answer to the question of what the onchain results of any marketing effort is generally guesswork.”
- Dunks
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
This involves using special tracking links with a small script installed on the client’s app (AmpliFi SDK).
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 - Coordinape & 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
$AGG - the governance/reward token will be multichain
Any competitors?
We are starting to see a few projects appearing with a similar idea but no one has taken significant market share as far as we are aware.
So far, AmpliFi is the only general-purpose affiliate/referral platform for Web3
How AmpliFi Works
User’s Journey
How to sign up
Since AmpliFi is generally permissionless this is as simple as connecting your wallet.
On certain campaigns, the affiliate is required to verify their Twitter account with an Ethereum wallet address by signing a message and posting a tweet on that account. This is now optional
The user will be given a link tagged to his account and that can be shared anywhere
How to use
Visit https://app.amplifi.gg/
there is a 4-step process listed there.
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
Connect wallet. Click to copy your unique link or click to generate a customisable tweet.
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 (performance based).
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)
Fees (10% - 30%) AmpliFi DAO’s share of campaign earnings accrue to AGG LP stakers & $LAGG (Vested $AGG using veCRV contracts)
How does AmpliFi earn its revenue?
Each campaign has a fee set as a percentage of the pledged campaign rewards by the client
This fee is set currently set between 10%-30% but can be adjusted from campaign to campaign
Example: A $100k campaign pledged by the client to AmpliFi with a 10% fee will have a fee of $10k
This revenue is then shared between $AGG LPs & $LAGG
How does AmpliFi incentivise clients to come on board?
There is no solution out in the market that can tie down marketing content to actual 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
Incentives provided by AmpliFi in the form of $LAGG
Example: In a campaign, a client commits $50k 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 $LAGG to affiliates inline with their earnings (the exact proportion of $LAGG is set at the campaign level & in some cases changes over time - more $LAGG in the beginning of a campaign to encourage early affiliates.
Whitelisting of Referrers
Different conditions can be set based on onchain activities, NFT holdings, discord memberships etc
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
NFT holdings
Many more.
Measures can also be taken to control content and referrer quality to discourage spam and people from gaming the system. But since the final KPIs are onchain as long as these are set correctly, payouts always happen based on the protocol's desired outcomes.
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
AmpliFi will be governed AmpliFi team & contributors with support from CRE8R DAO until enough $AGG token is released and sufficiently distributed to move to snapshot-based governance
This is estimated to take 3 to 6 months time from when the campaigns start running in full swing on the platform
A good gauge will be to have 10 to 20 clients who are using or had used AmpliFi
Thereafter, governance will be taken over by $AGG 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
Very strong incentives in the form of $LAGG in the first 50-100 campaigns decreasing over time in a negative exponential curve
Strong business development team working through CRE8R DAOs existing and growing list of clients plus plenty of up and coming protocols already in various stakes of developing AmpliFi campaigns
Tokenomics
Native token is $AGG
The utility will be for governance (in near future), reward tokens based on campaign KPI results and earning fees generated based on campaign results.
Revenue minus team funding requirements & campaign setup costs accrues to $AGG LP stakers & $LAGG
Eventually, $AGG will be tradeable on the secondary market with a liquidity pool
This will not be done immediately there are a series of token sales starting with xToken terminal on October 11th (allowlist sale) and public sale on xToken Terminal 2 Weeks later.
Ongoing funding is planned via Juicebox in the build up to liquidity pools going live once enough $LAGG has been locked to affiliate accounts for revenue sharing to begin.
During the first year revenue sharing between $AGG/LP stakers & $LAGG is designed to encourage further locking of $LAGG by balancing the split between LPs & $lAGG more details here: https://amplifi.gg/the-amplifly-wheel/
Security
Any audits?
$LAGG is a direct fork of veCRV with zero changes other than replacing CRV with AGG.
As such, this is probably better suited to bounty programs than an audit
More details will be announced closer to the time of the $AGG launch
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
The funding round for early AmpliFi investors. Allowlist sale on xToken Terminal 11th October starting @ $0.0035 & finishing @ $0.005 - followed by public sale 2 weeks after at a slightly higher price than the end of the allowlist sale.
AmpliFi Instigators NFT launched holding the NFT gives access to allowlist sales plus loads of other features
Onboarding for AmpliFi users and talking to potential clients, with CRE8R DAO doing educational marketing content to spread the word
Soft launched already with more campaigns going live over the next month (GMX is probably the most well-known protocol we can currently announce).
GMX referral program which stacks on top of their existing referral program going live
~20 protocols in various stages of sales funnel/setup
Continuous updates to frontends for AmpliFi & AmpliFI NFT including a bunch of features designed specifically for NFT-related campaigns (collabs, whitelisting etc).
1 to 3 months
Continuing work on documentation for all aspects of AmpliFi
Completing Snapshot integrations for governance-related AmpliFi campaigns alongside delegation and voting functionality
AmpliFi tokenomics dashboard showing LAGG projections for each campaign & aggregated as well as campaign earnings & revenue sharing information
Machinations modelling for overarching AmpliFi tokenomics as well as tokenomics and game theory at the campaign level (in Talks with Machinations team about their program for Web3 projects) https://machinations.io/web3/
Ongoing funding cycles via Juicebox
Processing payouts for the first set of launch partners
Onboarding all kinds of publishers content creators & influencers as affiliates
Continuing to work closely with the various protocols and projects to get their AmplIFi campaigns live
Onboarding contributors to the DAO and adding additional core team members
Acquiring quality advisors from both crypto and within Web2 affiliate marketing communities
Implementing UI designs to make AmpliFi easier to understand and more intuitive to use.
Semi permissionless campaign creation for NFT & fundraising (ability to deploy wrapper contracts that auto split payouts to affiliates/DAO) permissionlessly alongside permissionlessly creating campaign incentive settings, whitelisting, collabs based on NFT ownership etc. These settings are still required to be signed off on by AmpliFi team prior to the campaign launch.
3 - 6 Months
Launch of $LAGG for locking $AGG and start of governance by $LAGG holders
Updates on AmpliFi backend, including Zapps on certain campaigns
Launch of liquidity pool for $AGG
AmpliFi KPI-based liquidity mining & referral programs for $AGG
Clean up of UI and backend for $LAGG claiming and campaign payouts
Building tools to transit to a full DAO model, including voting on settings at the campaign level
Permissionless campaign creation for NFT and Fundraising campaigns
Ongoing improvements to AmpliFi SDK
Implement AmpliFi governance within
6 Months to 12 months
Onboarding larger projects and scaling affiliate networks beyond the crypto space
Semi Permissionless campaign creation for complex DeFi protocols
Ability to help web2 businesses transition their referral programs to tokenized models. Total world domination!
When is the expected shipping date for the AmpliFi?
The first set of campaigns is live as a soft launch. After our first public sale, a series of larger projects we have secured as launch partners will go live.
Learn More
Website: https://amplifi.gg/
Twitter: https://twitter.com/AmpliFiDAO
Web App: https://app.amplifi.gg/2
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