Quick note before we get started...
This article is all about Presearch. If you're as jazzed on PRE as I am, consider signing up with my Referral Link to receive a 25 $PRE starting bonus! It's a sweet deal, I promise.
Howdy hey, folks!
Hope you're all having a splendid day today.
If you've been following me for a while, you know that Presearch (PRE) has been a staple of my passive income strategy for many months now. Thus, I was very excited to see that they recently released their brand new, revamped white paper, which they're calling the Vision Paper.
Pretty sweet name, I might add.
Coming in at a whopping 65 pages of information, I figured I'd do the service of grinding through it, and sharing the highlights with you all! Keep in mind, I highly recommend that anyone unfamiliar with Presearch's project should go give the full paper a read ASAP. It does a brilliant job explaining the fundamentals of the project, the basics of which I don't want to spend too much time on in this post.
Here we go:
1. Updated stats:
Registered users: 1.5 million
YouTube subscribers: 10,000
Search volume: 10 million per month
Total PRE staked: 65 million (~1 million USD, at current price of $0.015 per coin)
Presearch.org website value: $30 million USD
Upward lines are good. We like those.
2. Presearch is officially a top 5 blockchain project by web traffic
I bet your altcoin can't say that!
Despite being on the DL for quite a while, the numbers don't lie. Long-term interest in PRE proves that we could be looking at a sleeping giant.
3. Great news for Presearch affiliates!
Due to the success Presearch has seen with its referral program (about 50% of all new users join through a referrer), Presearch will leverage that platform throughout all of its campaigns, both as an incentive mechanism to increase sign-ups, and as a tracking mechanism to enable Presearch to reward promoters with PRE.
4. "Increased exchange presence" a priority moving forward
Many within the cryptocurrency space would prefer to purchase PRE with other cryptocurrencies such as Bitcoin, Ethereum and various stablecoins. To reach these buyers, Presearch plans to facilitate the inclusion of PRE on as many reputable cryptocurrency exchanges that have significant user bases as possible. It has been demonstrated that many purchasers have a favorite exchange that becomes the primary channel for them to buy cryptocurrencies; therefore, Presearch needs PRE to be accessible on the exchanges of choice.
An increased exchange presence also provides those who have collected search rewards with additional options for converting their PRE rewards to other currencies if they choose.
5. The 6 pillars of PRE's long-term vision:
3. Better results
With traditional search engines, not only do we often lose control of information about ourselves, we allow
others to monetize that information for their own benefit. Presearch changes that equation and enables users
to monetize their own actions: searches generate tokens for the searching user, whether or not any personal
information is disclosed. After all, search queries are valuable, even when no personal data is shared.
6. Token scarcity: confirmed
There will never be more than 500 million PRE, with approximately 400 million already minted into existence.
If you've followed the tokenomics of the project, you'll know that PRE recently burned 50% of the once-$1 billion in token supply. The reason?
Burning 500M PRE from the maximum supply forced the project to run leaner and focus even more on achieving positive tokenomics.
Great news for PRE token holders!
7. Q4 2020 roadmap
I'm too lazy to type out all of these. Here you go:
8. 2021 roadmap
9. Full project roadmap
Phase I - Launch & Establishing Product-Market Fit
Phase I allowed Presearch to run many experiments and learn what users value in their search experience, the dynamics around supply and demand for PRE, and how Presearch must evolve to meet growing demand and create a sustainable model that optimally balances both the growth of the platform and the best interests of the community.
Phase II - Sustainability & Decentralizing Search
Presearch is currently entering Phase II of the project (July 2020), which will focus upon sustainability, tokenomics, and the buildout of the Presearch Decentralized Search Engine.
Phase II transitions from a “search tool with static rewards that sends you to other search engines” to an actual decentralized web search engine with sustainable tokenomics. This means that Presearch is delivering a worldclass search experience that rewards user searches based upon the actual value those searches generate in advertising revenue, and that incoming advertising revenue will need to cover multiple different kinds of rewards (search rewards, rewards for running nodes, rewards for code and other platform improvements, etc.).
Phase III - Decentralizing Governance
Phase III targets an entirely new goal: decentralization of governance. In short, this means that instead of Presearch being the key driver of decisions for the project, it will enable the community to take over nearly all aspects of governance for Presearch. This is no small feat, and the Presearch software itself will need to enable this through a democratic process tied to community members and PRE token holders.
Since Presearch tokens are given to anyone who runs a search, Presearch could easily enable a democratic voting process among all community members (one vote per member holding any PRE), and Presearch can likewise enable voting among all PRE holders based upon the number of PRE they hold. If all votes required both a majority of members (one vote per PRE holder) and a majority of PRE staked (one vote per PRE token), the voting
system could always balance the needs of users versus the needs of token holders.
The first component of the Presearch decentralized search engine to be released will be the nodes, with a beta program in September 2020 and a production launch in Q4 2020. For this first release, Presearch will be focused only on the following node operations:
When node operators provide server capacity to the Presearch network, they add value and will be compensated in PRE for the value they add. Presearch’s Tokenomics Engine will determine the aggregate amount to be paid out across all node operators based upon needs of the network.
For more information on Presearch nodes, I'd recommend also reading this Medium post that the Presearch team has published dedicated to the topic.
11. Keyword marketing/staking
The Presearch Keyword Marketing platform is similar to the Google AdWords platform, although there are a number of key differences due to the phase of the project and the unique opportunity to work with blockchain tokens to account for and transfer value.
My followers know that as a marketing guy, this is by far my favorite feature of Presearch. In their own words, "Keyword Staking is a revolutionary new concept being pioneered by Presearch as it builds the world’s first decentralized search engine framework."
Keyword Staking enables token holders to commit or “stake” their PRE against specific words and multiword terms. With Presearch Keyword Staking, you select a keyword (e.g., “Bitcoin”) and then stake PRE that you have purchased or earned against that term. You can then create an ad that you link to the website of your choice.
12. Free advertising traffic will last until January 2021
If you read my post on building passive income with PRE, you know that I've been screaming about this feature on the rooftops for months now. It's every digital marketer's dream, and it's only available for a limited time: FREE TRAFFIC.
Presearch currently plans to offer free traffic until January, 2021 but the ultimate duration will depend on the uptake of the platform and need to reward users.
13. PRE value proposition (current & future) by user type
This is the only section (9.2) that I deemed worthy of sharing in full. I love how they laid out how PRE will benefit all stakeholders involved in the project. I've excluded the "Partners" and "Subject Matter Expert" categories, since the following 3 captures the majority of my readers:
Search Rewards: Receive PRE as a reward for searches based upon the value their searches add to the network.
Become an Advertiser: Use PRE to display ads on the Presearch Platform.
Referral Rewards: Receive PRE for introducing new active members to Presearch.
Shop: Use PRE to make purchases in the Presearch store.
Cash Out: Sell PRE on public cryptocurrency exchanges to convert to fiat or other cryptocurrencies.
Ad Blocking (Personal): Use PRE to avoid seeing advertisements in results.
Inverse Keyword Staking (Global): Use PRE to stake “against” ads they find undesirable. This increases the cost to advertisers to run ads and reduces advertisers’ ability to spread undesirable messages to others.
Data Sharing Rewards: Control your data. By default, Presearch does not log users’ search histories in order to fully respect user privacy. However, sharing some of this data can provide more value to you (better personalization) and to the Presearch network (more relevant ads, ability to learn better relevance algorithms), for which you’ll receive increased rewards if you opt in.
Abuse Reporting Rewards: Detect and remove abusive ads that violate the Presearch Terms of Service. These should be detected and taken down as soon as possible and, in certain cases, advertisers may forfeit their keyword stake. In the future, users could be rewarded with some of this forfeited PRE based upon their help identifying these abusive ads.
Search Provider Voting: Stake PRE to influence the placement of Search Providers in the global search providers list.
Relevance Staking: Vote on the relevance of search results to influence and improve global relevance ranking. A user could opt in to automatically apply their tokens as influence through either explicit voting or implicit influence based upon their search history (if they have enabled their search history to be used).
Keyword Staking: Advertise targeting any keywords by staking the largest number PRE tokens for that keyword.
Advertising Credits: Pay for ads directly based upon a CPC (Cost Per Click) or CPM (Cost Per Thousand Impressions) model. Hybrid Keyword Staking + Credits: Leverage PRE for both Keyword Staking and as Advertising Credits in a hybrid advertising model that pulls in the best aspects of both approaches. Presearch is currently experimenting with various advertising models.
Direct Rewards to Users: Reward users on a CPA (cost per action) basis for direct interaction with specific content. For example, watching a video, filling out a survey, sharing content, etc
Node Staking: Stake PRE as a security deposit in order to provide server capacity to the Presearch network. The more PRE you stake, the more capacity your node can provide.
Node Operator Rewards: Receive PRE as a reward based upon a combination of the amount of capacity your node provides to the network plus the amount of that capacity that is actively utilized.
Gateway Staking: Stake a significant amount of PRE as a security deposit to become one of a select number of trusted, public gateways for the Presearch network. Presearch will be the only gateway provider for Phase II of the platform, but will look to decentralize the gateway responsibility in Phase III.
14. What will drive the PRE token value?
I'm sure this is what most casual readers will be wondering, so I'm glad the team dedicated a full section to this!
Keyword staking introduces an entirely different market dynamic than traditional CPC- and CPM-based advertising models. Since keyword staking does not “spend” your PRE, as active users, searches, and advertising revenue increase, there is more utility to advertisers in staking tokens for keywords, increasing demand for the token. Since the total supply of PRE is fixed at 500M, this means that, if there were no other uses for PRE, the price should
logically increase as demand increases.
In contrast, fiat currencies can be printed at any time by central banks and have no limit on supply. Since the vast majority of the world does business in fiat currencies, global advertising rates (CPM or CPC) are typically pegged to fiat currencies. This means that the cost, in average number of PRE required to purchase ads, should decline over time as demand for advertising increases, but only because the value of PRE relative to fiat currencies would likely increase. However, actual revenue, if converted into fiat, would remain approximately the same, other than any difference attributable to keyword staking.
15. How will Presearch revenue be allocated to compensate the community?
Infographics speak louder than words:
16. Three primary ways Presearch will work to increase user growth moving forward:
1) Improved user experience.
2) User growth campaigns.
3) Improved distribution of Presearch and PRE.
In order to complete these goals, PRE will be hiring a new head of marketing, who will work with the new head of advertiser relations and keyword staking.
When will we see improved integration with Brave Browser?
This is a biggie for me. I've downloaded the extension for my Brave Browser on PC, but it'd be excellent if it could be added to Brave's native search engine options, (including full synchronization with PRE rewards for each search). This is even more important on mobile, since as far as I know, there's no way to earn PRE rewards when I use Brave on my android.
This would be enormously beneficial to Presearch's growth as well, since Brave has established itself as the go-to browser for blockchain enthusiasts. It would provide a goldmine of new users for Presearch's platform.
Thus, I believe a more seamless partnership with Brave should be a top priority for the Presearch team.
If you weren't convinced before, you'd better be now: the PRE team means business!
This paper is completely packed with information, plans, and rebuttals to every argument I've ever heard against it, which is extremely exciting to see as a Presearch user and investor myself.
This team has been solid across the board in their marketing and public outreach (see their Medium page for more proof on this), and let's be honest: In these early days of crypto, the ability to spread a strong message to a large amount of people is the majority of the battle.
If you've got the time, I highly recommend you go give the full white paper a read.
And once you're done with that...
Check out my post on how I've built a passive income stream with PRE:
Thanks for reading, folks! Don't forget to follow if you enjoyed :D
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