What is AirDAO(AMB)? How To Buy AMB Token In India?

What is AirDAO(AMB)?

DeFi has disrupted the traditional centralized financial ecosystem, empowering users to control their funds and transactions with no middlemen or central authority involved. But DeFi also has some shortcomings. As its ground is laid out by developers, it can be complicated, difficult to understand, and challenging to use for non-techies. AirDAO is trying to address the same issue by building user-friendly and accessible dApps (Decentralized Applications) for web3 as Apple did for web2, as per the platform team. 

AirDAO is a community-governed decentralized layer-1 blockchain that provides a fast, secure, easy-to-use ecosystem with cheap transaction costs to users. It offers various products, including blockchain network AMB-NET, FirepotSwap (native Decentralized Exchange), Bridge for cross-chain transactions, AirDAO staking platform, and more. The AirDAO ecosystem is powered by its native token AMB, used for on-chain transfers, staking, wrapping to derivative tokens, incentivizing nodes, and governance purposes.

Who are the Founders of AirDAO?

AirDAO is a rebranded version of the Ambrosus network officially launched on September 15, 2022. It was co-founded by three blockchain enthusiasts, Angel Versetti, Gavin Wood, and Stefan Meyer. Angel Versetti has been in the blockchain industry since the inception of Bitcoin, and he has worked in renowned companies like Google, Tesla, etc. On the other hand, Stefan is a secure IOT and blockchain architect with over 25 years of R&D experience at Nestlé Research and MHM Microtechnique. 

Gavid Wood has built two popular web3 projects: Ethereum blockchain (as co-founder) and Polkadot network(founder).

How does AirDAO work?

The AirDAO ecosystem is built on top of three layers: the Apollo Blockchain layer, Atlas Public Data Storage layer, and Hermes Gateway layer. Here are the main ecosystem components the AirDAO network utilizes to provide seamless performance to its users:

• Ambrous network: AMB-NET is a decentralized layer-1 blockchain that is highly secure and processes lightning-fast transactions at low costs. It is said to have had zero network attacks or downtime since its inception and consists of over 120 validator nodes.
• FirepotSwap: This decentralized exchange is built with smart contracts by AirDAO in partnership with Firepot Finance on AMB-NET. The DEX offers low gas transactions and high APR yield with a user-friendly experience. 
• Bridge: This bridge enables cross-chain transactions for AirDAO users on Ethereum and Binance Smart chain at zero cost. It processes the transactions within an hour of initiation.
• Arcadia Staking: AirDAO staking platform provides an intuitive and seamless experience to new DeFi users enabling them to unlock the untouched value of crypto assets. It is built a top of the Ambrous network and is powered by AMB.

What makes AMB Unique Use Cases?

• Users do not require technical expertise to stake their AMB tokens in Arcadia Staking to receive rewards. They earn AMB rewards every 6 hours and unstack tokens at any time as per their convenience.
• One can stake their AMB tokens to become a validator node to provide services to the network and receive rewards in return.
• AMB token holders can participate in governance and submit and vote on proposals for network development by locking their tokens for a specific time.

AirDAO (AMB) Price Analysis

Source: TradingView

• AMB price has been in a bearish trend since it touched the YTD high of $0.04729 in March this year.
• It is currently trading at $0.0072 after rejection from its 50-day Exponential moving average.
• ADX is also in bearish divergence, indicating a short-term downtrend. If it remains above the support level, it might soon reach $0.01.

How to Buy AMB Tokens in India?

To buy AMB Token in India, just follow the below-mentioned steps:

• Download the CoinDCX App
• Enter the required details.
• Complete KYC
• Once your profile is verified, fund your wallet and buy an AMB.