The idea is that you host our ads, and in return you get to display ads on our network. It's a 1:1 ratio. Our ads are not meant to replace your adsense, but to complement it. (our ad units fits nicely next to a banner or skyscraper)
Site: www.adexchanged.com
Your site was interesting at first but there are two drawbacks.
You don't give free credits on registration. We want to use banner exchange to jumpstart our site. We don't have users. We want users. Without starting credits I have a cold start problem.
1 for 1 banner exchange doesn't solve my problem. I want to drive traffic to by newborn site. Another formula would be better.
Basically, in an exchange, you don't get paid for ads that appear on your site, you get "paid" by your ad appearing on someone else's site. So if you're trying to make money on advertising, thats a problem, because there's no revenue involved. Also, you don't get to control where your ad appears, so its probably horribly targeted and not really doing any good. In this case, only some companies get help from display ads, not all companies will benefit equally.
Basically, people figured out that getting paid for ads on their site and then using that money for a targeted ad campaign (that comes with reporting, analytics, etc) on another site was worth more value than an ad exchange ever gave them.