We're bringing the Benja ad network to blockchain. Our merchandise ad network works with brands like Nike, the NFL Shop, and Patagonia to sell their excess inventory across a number of interactive and personalized ad channels. By introducing blockchain, we're going to fight ad fraud, offer verifiable analytics, and simplify billing on our way to solving a $38 billion+ set of problems in advertising.Quick LinksHomepage:
benjacoin.comWhite paper:
https://www.benjacoin.com/s/benjacoin_EN_072917compressed.pdfTwitter:
https://twitter.com/benjacoinFacebook:
http://facebook.com/benjacoinAbout BenjaBenja is a merchandise ad network that works with top-tier brands like Under Armour, Sperry, and Ray Ban to sell their excess inventory. We do this through two primary channels:
- benjamin: sixty-second deals (iOS). Think Tinder meets personalized shopping. One personalized offer at a time, with sixty seconds to decide whether to buy or pass.
- Our network of interactive online display ad units. Each unit is an interactive widget that replicates the mobile app experience inside of an ad -- you can pass and buy all without leaving the page that you're on.
Additionally, Benja has an engaged e-mail list of more than 20,000 bargain hunters and is exploring other areas including SMS. The company operates with a cost-per-milli (CPM) business model rather than the (deals space) industry-standard commission or fee. On average, Benja out-performs Google and Facebook in sell-through rate in multiples thanks to our user-experiences which shrink the sales funnel and bring the two parties (advertiser and end-user) closer to the transaction.
The company has done more than $1m in cumulative revenue and is currently operating at a $1m revenue run-rate. The company has signed insertion orders from existing partners and plans to scale ten-fold in 2018. Benja was founded in 2014 by Andrew J. Chapin and Tommy Goode.
Meet benjaCoinThe Benja merchandise ad network is executing a token issuance under the name benjaCoin (BNC).
The benjaCoin will serve as a revenue-generating mechanism for the Benja merchandise ad network. These funds will be leveraged to develop Ethereum and blockchain technologies to support the function of our advertising platform and business.
Blockchain will be incorporated in the Benja advertising platform with the goal of addressing transparency issues in advertising. Real-time bidding platforms and their manual counterparts offer limited (or, in many cases, no) information about advertising bids. An advertiser has no method to verify if they are paying a fair market rate. Additionally, publishers have no verifiable way to confirm they are receiving a fair price for traffic. Ad networks and platforms provide their own dashboards for reporting, which can be manipulated to highlight top-performing metrics while avoiding others. This is a business-side information asymmetry (and ethics issue) that can be addressed with the transparency of a blockchain solution.
Further, there is operational bloat in the existing ad networks in regards to billing process. The use of benjaCoin as a means of buying and selling advertising, as described in our white paper, shrinks the billing cycle.
Issuance, Plan, Terms, ParticipationThe benjaCoin token sale will commence on August 1, 2017 at 13:00 UTC and it will run for a period of 30 days or when the cap is reached, whichever occurs first.
During this period, individuals can purchase tokens through the Orderbook.io exchange at
https://orderbook.io. Tokens will be offered at a price (in Ethereum) that is equal to 0.025 USD per token at the time the sale commences. Twenty-four hours after the conclusion of the pre-sale, benjaCoin will be available for trading on Orderbook.io. We may agree to work with additional exchanges in the future. The source code of the benjaCoin smart contract will be available at
http://benjacoin.com.
EPHE Corp. offers rights to benjaCoin token holders, as the organization recognizes token holders as key non-investor stakeholders. This means that token holders will, as a group, receive:
- Early access to beta versions of blockchain-based products the organization produces.
- A seat on the Board of Directors. We will hold a closed election by external token holders in the first week of each year for a one-year appointment on our three-person Board of Directors. The purpose of this process is to ensure that the token holder interests are represented in strategic company decisions. Tokens held by employees, Benja, EPHE Corp. do not have a vote in this process.
- Access to a quarterly update on business and technical operations, which will be published at http://benjacoin.com.
- Access to a quarterly live-stream by EPHE Corp. employees where we will offer a qualitative update and host a question and answer session.
The token pre-sale is capped at 500,000,000 benjaCoin tokens and ends after 30 days or when the cap has been reached, whichever occurs first. There are 1,000,000,000 authorized benjaCoin tokens. No additional benjaCoin tokens will be created after the token sale ends. These limits were fixed in the smart contract at token creation and cannot be changed during or after the pre-sale. The remaining 500,000,000 authorized benjaCoin tokens are to be held by Benja and introduced to the market only in the event of an illiquid market when the performance of the Benja ad network relies on an advertiser’s ability to purchase tokens. As is noted in the “Terms and Token Holder Rights” section of this white paper, the Benja organization also intends to buy tokens back (at market rates). Benja’s holdings, both present and future, will be used to ensure the smooth operation of the Benja ad network once it has been moved to our blockchain-operated platform.
Further, EPHE Corp. commits to using 50% of net proceeds each quarter to purchase tokens on the open market at market rates. EPHE Corp. will use its holdings to facilitate advertising activity on the Benja ad network, offering tokens to advertisers and buying back from publishers. This is an instrumental part of the ensuring the liquidity of the Benja advertisement marketplace and is not to be received as guidance as it relates to the future price of benjaCoin.
LocalizationOur white paper is available in English at
https://www.benjacoin.com/s/benjacoin_english.pdf. Additional languages will be made available in the coming days.
benjacoin.com
