AMA Recap Crypto Library with Alkimi

                                        

On 26th July 2021, Alkimi conducted an AMA in the Crypto Library Community. Our guest is Alkimi Team. Lots of questions as usual from the Community about Alkimi progress. The Alkimi team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Alkimi.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Ben (Alkimi) : We’re a founding team of digital marketers with over 50 years’ combined experience working for publishers, advertising technology companies and media agencies. We’re also crypto enthusiasts, and have been aware of the many potential benefits of applying blockchain technology to the digital advertising ecosystem. I'm the CEO of Alkimi and have sold software to global publishers like CNN, Vice, Forbes, Daily Mail to name but a few for the last 10 years or so and have worked in advertising my entire career.

Chorley (Alkimi) : I’m Chorley, Chief Operating Officer. I've been Working in the advertising industry for 10 years. Always on the sell side, at publishers and networks to help them monetise their inventory. At Evolve Media, Conde Nast and most recently a start up called SmartFrame. As far as crypto goes, I’ve also been involved in crypt for around 5 years now. I'm a massive advocate of blockchain becoming the de facto technology for all data and monetary transactions. So we’ve now got the chance to bring a whole industry onto the blockchain. So I’m finally merging my passion for crypto with my day job which is incredible!

Neil (Alkimi) : And I'm Neil, Chief Commercial Officer, and I've spent 15 years working predominantly on the buy side of the ad ecosystem at global media agencies. Recently, I spent 5 years as the head of mobile and digital innovation at Mindshare, the world's second largest media agency, where I controlled a nine-figure annual media budget for clients including Nike, Unilever, Rolex and Ford. I'm really excited about the prospect of putting the digital ad industry on the blockchain. It's a huge industry ($340bn) hiding in plain sight, but at present, 49% of an advertiser's budget is wasted on an "ad tax" in the non-transparent ecosystem, before it even reaches a publisher!

Chandru (Alkimi) : Our CTO, Chandru isn’t on the AMA today, but has 20 years experience working in advertising technology and crypto projects. He most recently worked for Virgin Media, a large broadcaster in the UK, building their digital advertising offering. Chandru and his team are also crypto experts who built a blockchain technology designed to manage GDPR consent.
FIRST SEGMENT (HOST)
Crypto Library Team :  What is Alkimi Exchange? and how your team can create this project?

Ben (Alkimi) : Alkimi Exchange is the world's first decentralised advertising exchange. In digital advertising, exchanges sit between advertisers (brands like Nike and Rolex) and publishers (websites like South China Morning Post) and manage a real time auction of advertising space, much in the same way as centralised crypto exchanges do today. Advertising exchanges have existed for around 10 years, and have grown to be a huge industry - $340bn per year. We are being incubated by Constellation Network, and Alkimi Exchange is powered by their revolutionary Hypergraph technology ($DAG). The Hypergraph is a Directed Acyclic Graph - meaning that is able to process transactions significantly faster than existing blockchains, is infinitely scalable, and operates as a feeless ecosystem. We are the first and only project in the world that can host the digital advertising auction on the blockchain and offer a 10x reduction in costs for Advertisers and Websites to trade digital ads vs incumbent solutions.

Crypto Library Team : Could you give us some reason why we have to choose Alkimi Exchange than other projects out there?

Neil (Alkimi) : We appreciate that there are a lot of projects out there, but we’re incredibly excited about Alkimi and the real world utility it brings. We are using the principles of DeFi to bring a huge industry onto the blockchain. Billions of dollars are traded every year on centralised advertising exchanges, and this FIAT spend is not influenced in any way by sentiment in the crypto community. If the price of Bitcoin drops to $10k, Nike will still need to advertise sneakers, and CNN will still need to sell advertising space. Alkimi exchange operates using the standards that already exist in the advertising industry to ensure ease of adoption, but will cost 10x less than the existing ad exchanges and provide solutions to many of the problems that publishers and advertisers currently face - for example: undisclosed margins and fraudulent inventory. Our token holders will have the opportunity to stake their tokens to publishers and advertisers in exchange for generous staking rewards.

Crypto Library Team : Please tell us about $ADS token! What are the token use-case, distribution, and where we can buy it?

Chorley (Alkimi) : The native token on Alkimi Exchange is $ADS token. There will be 250m $ADS tokens in total, with 50m being sold in our pre-sale. In order to access and trade advertising inventory on Alkimi Exchange, publishers and advertisers will need to hold $ADS tokens. $ADS token holders will help us with the infrastructure part of the network. Through staking their $ADS tokens to our Bandwidth and Access pools, they will allow Publishers and advertisers to access the Alkimi Exchange and rent enough bandwidth to serve and sell ads. 

In terms of purchasing $ADS tokens. Applications for our private sale have now closed. However it’s still an early time to become involved with the project. $ADS will be available via launchpads and decentralised exchanges in early August. Because of our relationship with Constellation, we will be launching first on Lattice Launchpad. To keep up to date with pour launch please come and join our Telegram Announcements Channel: https://t.me/Alkimi_Exchange_Announcements

Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Neil (Alkimi) : Our rollout is in three phases:
  • Phase 1 will last until the end of the year.
We've just closed our private sale which is a huge milestone for the team. We will be minting an ERC-20 token, which will be available to purchase via Lattice Launchpad (https://t.me/Lattice_exchange) and decentralised exchanges from early August. During Q4, we will migrate to Constellation’s native L_0 token. It is this token that provides us with the capability to port the advertising auction onto the blockchain.
  • Phase 2 will be from Q1-Q2 2022 
And will see the official launch of Alkimi Exchange - when publishers and advertisers will be able to transact on the platform and we will see FIAT currency coming into the exchange.
  • Phase 3 will start in Q3 2022
During which we will expand on the range of features offered by Alkimi Exchange, allowing us to increase the revenues we’re bringing into the business.
SECOND SEGMENT (TWITTER)
Crypto Library Team : Alkimi Exchange helps users to create advertising products, but how do you guarantee the effectiveness of these advertising products to users, is there a fully efficient and reliable mechanism for this?

Neil (Alkimi) : We are the first business that is able to host the digital advertising auction on the blockchain. This allows us to build an entirely new digital advertising ecosystem. The top 6 centralised exchanges charge on average 15.5% in usage fees. We have designed Alkimi to cost c.10x less than the centralised exchanges. We are able to achieve this because of the feeless nature of Constellation’s Hypergraph, and the generative economic principles on which Alkimi is based. In addition to the cost benefits of working with Alkimi, hosting the advertising auction on the blockchain will also have major benefits. At present, 49 cents out of each advertiser’s dollar are lost before they reach a publisher. Alkimi’s technology will allow publishers and advertisers to reduce this lost revenue considerably. Hosting the advertising auction on the blockchain will provide other benefits to the industry - for example: we are able to guarantee zero fraud (not offered by any other advertising exchange) and provide instant log level data (again, not currently available). Finally, we have built our tokenomics to reward publishers that improve the user experience on their channels - fewer, better ads. By holding and staking $ADS tokens, our supporters are backing an initiative designed to make the internet a better place.

Crypto Library Team : That website I really did not find specific information regarding the native token of the project, why does this happen, where can I find information about tokenomics and other details about it?

Ben (Alkimi) : All the information about our project pinned to our telegram community channel, here:
We were also recently featured in Digiday:
We also are running a regular podcast which you can check out here:
I also recommend you follow us on Twitter! We have a team of amazing admins who are happy to answer any of your questions. 
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : How do you plan to spread awareness about your project in different countries where English is not good? Do you plan to develop many different communities such as Vietnam, Indonesia, Korea, about your project so that they can easily communicate and understand your project?

Ben (Alkimi) : We have 2 marketing agencies working across Asia; we currently have Wechat and Weibo communities and we are also launching Mandarin and Spanish language telegram communities. It's top of mind for us and we are working to create content in as many languages as possible.

Crypto Library Team : Since Alkimi gives Advertisers a targeted engaged audience, are the services of Alkimi more expensive than the ones offered in other similar platforms?

Neil (Alkimi) : It's actually the opposite case! Because Constellation's Hypergraph is a feeless network, we are able to offer publishers and advertisers significantly lower costs than the existing centralised advertising exchanges (10x lower). In addition to this, publishers and advertisers will be able to trade their advertising much more efficiently. At the moment, 49 cents of each advertiser's dollar are lost before they reach a publisher. This is due to a variety of reasons, many of which can be solved by the immutable nature of the blockchain. So we will be reducing this “ad tax” considerably. As you can imagine, publishers and advertisers are very excited about this already. We’re talking to some of the world’s biggest websites and broadcasters, as well as huge advertisers - and they’re all excited!

Crypto Library Team : How do you feel about the current Covid-19 situation?

Ben (Alkimi) : I've been theorising that in the past periods of worldwide dispair often yield innovation. I think of the the 14th Century and the Reneaissance period born from the plague. I believe we are entering the period of the "mememassiance" where memes have popularised blockchain and most notably DeFi as offering innovative solutions to existing issues. Applying the principles of DeFi to the advertising world will usher in efficiencies and effectiveness not seen in advertising since the advent of the first digital ad.

Crypto Library Team : A key point in projects that work with ads is marketing so I would like to know how developed this point in the project? Do you have a marketing wallet or something similar?

Chorley (Alkimi) : We totally agree, Marketing to marketeers has to be a priority. We also have to market to the crypto industry. Which means we need to market to two groups. Thats why we have allocated 15% of our tokens to Marketing. We will make sure that we have a healthy marketing budget each month to attend events, host competitions and advertise our services.

Crypto Library Team : I read on the website, Using Generative Economics principles, $Alchemy Exchange will reward Users, Publishers and Advertisers for rebuilding the desired value exchange from the Open Web. What is Generative Economics? & how will Users, Publishers & Advertisers be rewarded?

Ben (Alkimi) : Both Constellation's Hypergraph and Alkimi Exchange have been inspired by and designed according to the principles of a new economic model, Generative Economics. The term was coined by Marjorie Kelly, and defined as "A living economy that is designed to generate the conditions for life to thrive, an economy with a built-in tendency to be socially fair and ecologically sustainable". The Hypergraph is a feeless decentralized network that leverages the principles of Generative Economics and enables the economic opportunity to port a centralized advertising exchange onto a decentralized network to increase auditability and immutability of digital advertising serving.
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