What is the DRIFE?
- DRIFE is a decentralized ride-hailing platform powered by blockchain with the intent of empowering value creators and extractors within our ecosystem – these include the drivers, Commuters, and developers community. DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions.
- Their ride-hailing platform has created a new paradigm for the ride-hailing industry. Their are the first platform in this niche to express the full features of the decentralized ridehailing economy.
The Ecosystem: VALUE CREATORS & EXTRACTORS
- Their platform is designed to reward contributors with incentives towards the development of the ecosystem. Through the DRIFE architecture, they are able to completely offer the best service practice to enable all stakeholders in our economy to derive maximum utility satisfaction from their product.
- Drivers: It empowers the drivers in their ecosystem to receive the complete fare paid by the passengers because of our ‘no commission’ feature.
- Commuters: It empowers the rider through their dApp to have the best experiences per ride both in terms of platform multiple-option features and during their journey.
- Developers: It incentivizes developers to create useful tools and features to expand the platform’s economy.
- No Commission: DRIFE aims at shifting the focus from the existing commission-based platforms to a decentralized network with a new economic model, where 100% of the fare paid by ‘commuter’ goes directly to the ‘Drivers’.
- Incentivise Social Platform: DRIFE provides additional incentives to its network users contributing towards the platform’s betterment through social interaction and network building.
- Governance: DRIFE believes in a democratic engagement of network participants towards financial and operational decision making for the platform.
- Safety: DRIFE values the safety of the commuters and endeavours to carry out multiple security checks on the drivers before on-boarding and whilst in service. DRIFE also provides infrastructure for broadcasting Emergency SOS signals within the community to solicit help.
Drife token, DRF is a utility token that will also function as a
currency within our platform. It will be used to execute ride
payments, access loyalty rewards and staking functions on our
- Blockchain type: EOS
- ICO Token Type: ETH ERC-20 Compliant Token
- Token symbol: DRF
- Total supply: 325 Million DRF tokens
- Economic model: 1-3% annual Inflation
- Whitelist: YES
- KYC: YES
ICO Tokens Details
- DRF tokens will be pegged at the value of $0.25 USD 50% of token supply in ICO for sale: 162,500,000 DRF.
- Soft cap: 32,500,000 DRF (20%).
- Hard cap: 162,500,000 DRF (100%).
- After the ICO these utility tokens are not just restricted for services but also sold on exchanges.
- The Driver and rider bonus tokens are to encourage loyalty from DRIFE customers, this will be distributed in form of free miles to the early adopter of DRIFE APP for commuting, and this is given to both rider and drivers for adding new people to their network.
Token Allocation Forecast
- Distribution: Overall, 325,000,000 tokens will be released. The hard cap of the tokens for sale is 60%. The remaining 50% of total emitted tokens will be divided amongst the Private sale (10%) Social Incentive (10%), Development pool (5%), Team members (5%) founder (10%), bounties and Airdrop (3%), Referral, Rewards and Bonus-5%, Advisory (2%).
- Funding Allocation: All funds contributed as part of the pre-sale will be used for development, testing and release of Minimum Viable Product(MVP). Furthermore, these funds will be used to support community building campaigns. Funds contributed as part of ICO will be spent on rolling out the final version of the platform and its mainstream adoption. Areas on which ICO funds will be spent include product enhancements (including bug bounties), 3rd party audits, testing, marketing and reserves for any possible contingencies. Break down of funds that will be spent on each area can be seen in the given chart to the left.
- Firdosh Sheikh: Co-Founder & CEO
- Surya Ranjith: Co-Founder & CFO
- Abhijit Roy: CTO & Architect
- Mario Pacudan: Chief Marketing Officer
- Arpit Sharma: Chief Operating Officer
- Andrew Willis: Chief Strategy Officer
- Debraj Ghosh: IT Infra Consultant
- Mudit Marda: Lead Blockchain Developer
- Abhilash Verkey: Marketing & Research
- Emmanuele: Content & PR
- Syed Adil Nawaz: Product Designer
- Samarth jain: Legal & Compliance
The Advisory Board
- Giovanni Casagrande: Board Advisor
- Abhishek Singh: Advisor
WHY ARE THEY IMPORTANT?
- In less than a decade, over 1600+ cryptocurrency platforms built on the premise of the blockchain technology now exist. New startup enterprises, great innovative technologies, and improved scalability features from the original blockchain have elicited awe. However, more than 90% of these projects lack practical application or utility. Most of them are created as sub-chains or sidechains leveraging the power of more efficient systems. Despite the opportunities being accorded by the blockchain enterprise, adoption for most of these platforms is still out of reach because: ‘not many real-world use cases have been fully disrupted’.