Gather Relaunches Online Product to Disrupt Digital Advertising Model
Digital monetisation platform Gather has relaunched Gather Online, a product that allows publishers to earn revenue without ads.
The venture, which has been four years in the making, leverages Gather’s hybrid proof of work/proof of stake blockchain to establish what the startup calls a “creators’ network” that disrupts the traditional advertising model.
Go-Time for Gather
Gather ecosystem includes a protocol layer (the eponymous Network – layer 1) and a application layer (Gather Cloud – layer 2).Gather Online works by harnessing visitors’ idle processing power to secure blockchains. Instead of being bombarded by irrelevant and intrusive ads, users opt in to enjoy a pleasant browsing experience with both consumers and website owners earning revenue for participating in the model.
“The market for in-browser/in-app mining has under-served people for far too long,” says Reggie Raghav Jerath, Founder and CEO of Gather Network. “With Gather Online, we are putting creators in the driver’s seat and helping them raise revenue in a fresh new way.
“I’m confident that we are creating genuine value in the internet economy, and that Gather Online will become an indispensable part of the web experience.”
Gather Online initially launched in April 2021 and quickly attracted over 400 online businesses. However, a governance vote saw the product shelved due to inflationary pressure related to publisher block rewards just four months later. Since then, over 15m $GTH tokens have been generated and will be burned with the go-live.
Rewards have now been reduced to 10% of the total, equivalent to 240k $GTH per month, with the remaining 90% scheduled to be burned during this period at a rate of 2.17m $GTH each month. This action will continue reducing the total lifecycle supply of Gather’s native token. Gather recently announced that 20.3 Million GTH has been burnt for the paused period of the product and the total lifecycle supply is now 579.6 Million $GTH from 600 million $GTH.
Jerath has indicated that rewards will increase proportionately as revenue grows. Additional features are also in the pipeline
Expanding to Binance Smart Chain
Having previously launched on the Ethereum-based Uniswap AMM, Gather Network’s $GTH recently became a cross-chain asset after debuting on Binance Smart Chain’s Pancake Swap DEX on January 8.
A Liquidity Providers Incentive Program was created to reward supporters LP’ing the GTH-BNB trading pair. Not only will they share 23k GTH per day reward pool but they’ll also pocket 0.17% of all trades on the pair proportional to their share of the pool. An Ethereum-to-BSC bridge was also created in partnership with Connext, enabling holders of ERC-20 $GTH to participate in the program.
In the coming months, the Gather team will focus on onboarding publishers and demonstrating the utility of its content monetization model while driving the adoption of $GTH. If the project can put an end to ads, or at least reduce their impact on the browsing experience, it could well make a big impression.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Oliver Dale, @Khareem Sudlow
