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The cryptocurrency sphere is becoming increasingly saturated with decentralized finance (DeFi) projects, but many of these projects share a common issue — specifically, they’re relatively challenging for the everyday investor to use. This may be because of poor design that requires extensive technical expertise or other factors. While AirDAO, previously known as Ambrosus, was launched as yet another crypto project several years ago, it stands apart from others in exciting ways.
Key Takeaways:
AirDAO’s DeFi project gives its users direct access to related services without the need for an intermediary. The AirDAO Network is a Layer 1 blockchain system, governed by its community, with over 160 validators around the world for optimized security. From the initial onboarding process, the project is designed with ease of use in mind. Once a new user is established in the community, they have access to numerous products that are equally easy to use.
Ambrosus launched in 2017 with the goal of serving the Internet of Things (IoT) and supply chain niches. In Mar 2022, a new chapter for this project opened with its transition to AirDAO. A large portion of this transition was completed by the Ambrosus team by late 2022 to early 2023. This transition from the Ambrosus ecosystem to AirDAO brought changes to both leadership and branding. It also resulted in the release of numerous new products, including AirBond Marketplace, Staking, FirepotSwap, the Network Explorer and others.
When the Ambrosus team decided to transition to AirDAO, numerous projects required attention. Much of the work was completed by the first quarter of 2023. The project then shifted its focus away from supply chain management to DeFi. A significant rebranding campaign also took place, and leadership under CTO Igor Stadnyk was transferred to CEO Lang Mei. In addition, the team grew in size from 15 to 33 people.
The AirDAO team is focused on creating a better DeFi user experience (UX), accomplished through the platform’s straightforward dashboard and the development of a mobile app. In addition, the available products make it easy for users to complete transactions, generate staking rewards and complete other tasks.
AirDAO continues to develop with numerous improvements planned over the next year, which will further improve UX and add functionality.
AirDAO is a Layer 1 blockchain that allows users to create their own applications. The project is compatible with EVM (Ethereum virtual machine). As a result, the user-created applications are interoperable with Ethereum, as well as other EVM-compatible blockchains.
Because of its extensive network of validators, AirDAO provides optimized security. In addition, it collects individual data packets, so its scalability is exponential. Even those users who lack extensive technical expertise can take advantage of AirDAO, thanks to the dashboard’s easy-to-use interface.
All AirDAO products are accessible through the site’s dashboard, which is designed with cards for each product, as well as subdomains and direct links. What are the features of AirDAO?
FirepotSwap is AirDAO’s simplified token swap interface. Users must have a supported wallet connected to the platform to use this feature. To use FirepotSwap, simply provide details of the tokens that you want to swap. You’ll see the slippage tolerance for that pair below the order details. Then, you simply click a button to complete the swap.
AirDAO’s staking features three classes of nodes: Hermes, Atlas and Apollo. Each one plays a vital role in the network’s operation. Node operators are delegated via smart contracts, and are automated. AirDAO has a staking-as-a-service (SaaS) model for validator staking, liquid staking and locked staking. A user must stake at least 1,000 AMB to get started, and rewards are distributed every six hours.
As part of AirDAO’s goal of delivering a straightforward UX, the AirDAOBridge supports the easy conversion and transfer of assets. Specifically, it allows users to convert AMB tokens to other types of BEP-20 or ERC-20 tokens. It also makes the transfer of assets on Ethereum, BNB Chain or their supported applications easier.
AirDAO’s navigation system is known as Network Explorer. It has a simplified interface for fast and easy navigation, and offers quick views of nodes, blocks, contracts transactions and balances. Network Explorer is accessible to all users, and is one of the reasons AirDAO stands ahead of other DeFi blockchain systems.
To commemorate the transition of the Ambrosus ecosystem to AirDAO, AirBond tokens were airdropped to community members. Celebrating the project’s fourth anniversary, this was a milestone event supporting the use of AMB tokens.
AirBond Marketplace is currently only available as a beta version. It’s the newest product released for the benefit of AirDAO community members. AirBond Marketplace users can trade their BOND, which are vested AMB bonds, for tokens.
The Ambrosus ecosystem was established in 2017, and the transition to AirDAO took place through 2022 and into early 2023. During this period, a new website with the project’s rebranding and improved interface was launched, along with the development of numerous products.
Going forward, AirDAO will introduce elastic block rewards for those who lock their AMB tokens, and node rewards will be paid in AirBonds. In addition, a burning mechanism will launch, and the distribution of AirDAO Treasury funds will be established. Looking further ahead, there are plans for a mobile wallet app, a new voting platform for DAO governance, the launch of AirDAO Name Service, a Proof of Attendance Protocol and more.
AMB is the native token of AirDAO. It’s used to pay on-chain gas fees and to complete transactions, and to support node validation and community governance. The maximum supply of AMB is established at 6.5 billion. This is a deflationary supply, with both ecosystem-burning and governance-burning mechanisms. Currently, AMB has a total supply of 6.3 billion and a circulating supply of 1.5 billion.
As of Jun 26, 2023, AMB’s price is $0.00846. The market cap is approximately $13 million, and the trading volume is roughly $2.46 million.
According to experts at PricePrediction, the price of AMB is expected to decrease to $0.031 by the end of 2023. This may increase to $0.067 by the end of 2025. In 2028, the AMB price could hit $0.20, and may jump to $0.39 by 2030.
The initial decline in growth is substantiated by analysts from DigitalCoinPrice, who predict that AMB will close 2023 at $0.0195 and increase to $0.0316 in 2025, $0.0489 in 2028 and $0.0936 in 2030.
Looking to trade AMB? You can do so on Bybit in the form of USDT Perpetual Contracts. Simply sign up for a Bybit account and navigate to the AMBUSDT Perpetual Contracts Derivatives trading page to get started.
As the native token of AirDAO, AMB is essential for accessing the platform's features and products. AirDAO is designed to be a next-level DeFi project that caters to the average user who may not have considerable technical expertise. By doing so, it puts the many advantages of DeFi in more hands.
While many people will choose to use the AMB token to swap tokens and complete other activities via AirDAO, the token may also simply be a good investment. Despite its initial decline in price, slow and steady growth is projected over the next several years, presenting you the perfect opportunity to buy the dip.
The AirDAO community continues to focus on making strategic improvements to the platform in order to further enhance the user experience. As these improvements roll out, the usage of AirDAO and the AMB token will likely increase. Of course, it’s always important to do your own research (DYOR) before investing.
While there are numerous active projects in DeFi today, many of them lack the design and interface necessary to truly appeal to the masses. AirDAO, however, presents its well-designed products to users through a simplified dashboard interface, making it well-suited to users, regardless of their level of technical expertise. With so many products available and with more in development, get to know more about AirDAO today.
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