See all of our frequently asked questions here. If you can’t find the answer to your question, please reach out to us at firstname.lastname@example.org
What is AirDAO?
AirDAO is an up-and-coming project looking to provide people with a more user-friendly and accessible DeFi experience. We have our own Layer-1 blockchain network called AMB-NET and native token AMB that power AirDAO’s flagship products.
These products include a native decentralized exchange (DEX) called FirepotSwap developed by our ecosystem partner Firepot Finance, a bridge that supports cross-chain transfers to Ethereum and BNB Chain, our own AirDAO Staking platform, and also a revamped network explorer with multichain capabilities. All of these are designed with the user in mind–whereas most DeFi projects can be confusing or overly complicated to use, AirDAO is building products that are approachable and straightforward, featuring tutorials and guides that lower the barrier of entry to the blockchain.
AirDAO is also highly community-focused. As is referred to in the name of our project, we will be transitioning to a DAO in which our token holders will be able to actively participate in shaping the future of the project and earn passive income for doing so. Since our CEO Lang Mei took over in March of 2022, we have made tremendous progress, with our ultimate goal to make AirDAO a top-100 project in all of crypto.
Who is the AirDAO team?
AirDAO has a rapidly-growing global team of innovative leaders and builders. To view their photos and learn more, visit airdao.io/team.
What is the AMB token, and what does it do?
AMB is the native token of the AMB-NET blockchain and AirDAO as a whole. What this means is that AMB is required for every transaction to pay for gas fees. AMB can also be staked in our different types of nodes: validators that verify and execute transactions to ensure they are authentic and data-storage nodes that can store information immutably on-chain. With the announcement of our updated tokenomics in January 2023, AMB will additionally become the governance token for AirDAO. In this model, individuals will be able to lock their AMB to vote on community proposals and earn a share of AirDAO revenue.
Why is the AMB supply increasing?
Currently, AMB is emitted at a rate of 14 tokens per block. These AMB are paid as block rewards to our AMB-NET validator nodes for executing transactions and securing the network. This applies to our AirDAO Staking platform as well because AMB staked in the Hera pool is wrapped up into validators by smart contracts on the back end.
Based on this rate, AMB has a year-over-year supply increase of roughly 7%, which is the same as Ethereum’s historical average. The issuance of these rewards is important because they are actually payments to nodes for verifying and executing transactions, which is a critical service for keeping our network functional and secure.
Our ultimate goal, though, will be for AMB to achieve a net-deflationary supply in the long term, similar to what Ethereum has done. This will be achieved through the implementation of burning mechanisms in Layer-2 dApps as well as on our Layer-1 AMB-NET blockchain. A more comprehensive announcement on this will be coming in Q1, 2023.
Why is there no max supply for AMB?
Similar to major Layer-1 blockchain projects such as Ethereum, Solana, Cosmos, and Polkadot, AMB does not currently have a max supply. We do, however, plan to announce a max supply figure in Q1 2023.
Not only will this figure not necessarily be reached, especially given the introduction of deflationary measures such as burning, but it has also been calculated with sustainability in mind. This means we are accounting for AirDAO’s continued success a decade or more from now and for the vast majority of the supply to be directed toward the community over that time.
Where can I find accurate data on AMB?
The two best places to find accurate data on AMB are CoinGecko and our AirDAO Network Explorer (airdao.io/explorer). These both draw real-time info from the blockchain via API, whereas some other sources manually update their numbers.
Where can I buy AMB?
AMB can be purchased on several major centralized exchanges (CEX), these being Binance (BTC and BUSD trading pairs), KuCoin (ETH and USDT trading pairs), MEXC Global (USDT trading pair), ProBit (USDT trading pair), and WhiteBit (BTC trading pair). It is also available through AirDAO’s native decentralized exchange (DEX) FirepotSwap.
In 2023, we plan to continue discussions to list on additional CEXs and will deploy liquidity for AMB on Uniswap and PancakeSwap—the largest DEXs on Ethereum and BNB Chain.
How can I earn passive income through AirDAO?
There are many different ways to earn passive income using AirDAO. One is through our native AirDAO Staking platform, where users can stake their AMB with no lockup period and receive rewards automatically every six hours. Another way is through providing liquidity on FirepotSwap, for which there is an easy guide in the “All Guides” section. Users who hold 1,000,000 or more AMB tokens can also set up an AMB-NET validator node to help secure and power our network.
We have several ongoing promotions with Binance as well. One of these is our Locked Staking program, which allows users to stake AMB for a set period of time directly from their Binance account and receive rewards once that period has expired. We also have a Lite Referral campaign where users can earn up to $1200 for successfully signing up family and friends for Binance using their own unique ID and a Red Packet promotion where users can earn a share of a 1,250,000 AMB prize pool. The links for all of these can be found at airdao.io/binance.
Additionally, our upcoming implementation of AirDAO’s voting tokenomics in 2023 will create a way for active AirDAO supporters to participate in our governance process and earn a share of AirDAO revenue. This will be an exciting opportunity for community members to help shape the direction of AirDAO and play a role in deciding its vision for the future.
What is the benefit of AirDAO over other networks?
Participating in DeFi using AirDAO offers a number of key advantages. Our native AMB-NET blockchain is very fast and secure to use with minimal transaction costs. It is also highly decentralized, with over 150 validators run by individuals distributed across the globe. Our network has never experienced any security breaches or hacks, and it has maintained 100% uptime since launching live on mainnet in early 2019.
AirDAO is also very engaged with our community of users and tokenholders. We host weekly Town Hall meetings where we provide updates and answer live questions from community members, and we are highly active on Telegram as well. Additionally, we will begin transitioning to a DAO governance model in early 2023, in which the community will be able to vote on proposals to help shape AirDAO’s decision-making moving forward. These participants will be able to earn a portion of AirDAO revenue for their active contributions to AirDAO.
Furthermore, we are onboarding and working closely with different product teams to develop a comprehensive, user-friendly ecosystem of dApps in which all DeFi utilities will be easily accessible. This will be the culmination of our strategic mission to become the Apple of Web3
Does AirDAO have sufficient funding?
Yes, AirDAO has a multi-year financial runway. We have built up a strong treasury through financial planning and budgeting, as well as a $200,000 OTC deal with Binance and a $2,000,000 investment deal with DWF Labs. We also have an additional investment that is currently pending finalization, which will increase this reserve even further. Suffice to say, AirDAO is well-equipped to continue building and expanding long-term regardless of market conditions.
What is Firepot Finance?
Firepot Finance is an ecosystem partner project of AirDAO and the builder of AirDAO’s first native dApp, a decentralized exchange (DEX) called FirepotSwap. FirepotSwap was initially forked from Uniswap and has been tested rigorously by the AirDAO and Firepot teams as well as our joint communities, meaning it is extremely secure and reliable to use.
Firepot Finance shares the same user-focused vision that AirDAO does, and they are actively working on what they call “One-Touch DeFi,” an intuitive UI strategy that makes it easier for those with little DeFi experience to still be able to use FirepotSwap.
Firepot’s team will also be launching their HOTT token in early 2023, and they are in discussions with projects on Ethereum and BNB Chain about the possibility of collaboration. Their long-term plan is to develop support for “omnichain” swaps (for example, swapping native AMB on AMB-NET for native BUSD on BNB Chain without having to change dApps or switch networks) and to build additional products for the AirDAO ecosystem in the future.
What wallets support AMB?
AMB is currently supported by MetaMask and by Trustee Wallet. We are in conversations with Trust Wallet (different from Trustee) to integrate our network with them as well, but this has not yet been finalized. Users can also store their AMB on a Ledger or Trezor wallet by connecting to these devices using MetaMask.
Can I bridge AMB to other networks?
Our AirDAO Bridge supports both Ethereum and BNB Chains, so technically, yes, but it is not recommended. We have not yet deployed liquidity for AMB on these networks, so you cannot swap your AMB or engage in any other utility–you’d simply have to bridge it back across to AMB-NET. We do plan to add AMB liquidity on Uniswap and PancakeSwap in 2023, though, which will allow users to trade AMB on those two decentralized exchanges.
- What is AirDAO?
- Who is the AirDAO team?
- What is the AMB token, and what does it do?
- Why is the AMB supply increasing?
- Why is there no max supply for AMB?
- Where can I find accurate data on AMB?
- Where can I buy AMB?
- How can I earn passive income through AirDAO?
- What is the benefit of AirDAO over other networks?
- Does AirDAO have sufficient funding?
- What is Firepot Finance?
- What wallets support AMB?
- Can I bridge AMB to other networks?