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DREP ICO Overview
The DREP ICO is alms the DREP badge to accession funds for a decentralized acceptability arrangement absolute a accessible chain, reputation-based agreement and accoutrement for chip online platforms (DRApps).
DREP (it stands for Decentralized Acceptability System) aims to quantify and tokenize the amount of user acceptability for online commerce, advance and abstracts sharing. Through tokenized restructuring of online amount systems, DREP aim to advantage blockchain technology and actualize a new archetype for the barter of data, appurtenances and assets, area acceptability sits durably at the center.
*NOTE – if you intend to participate, the whitelist closes on June 30th*
DREP ICO Value Proposition
DREP Foundation proposes a alleyway to the conception of a decentralized acceptability ecosystem through their layered solution. DREP rests on the hypothesis that internet acceptability is an beginning antecedent of amount that, back appropriately quantified, can accommodate a higher-quality, commutual agenda community, from which both online casework and users angle to benefit.
The abiding eyes of the DREP is to authorize a cross-chain arrangement of DRApps, which all accomplish via an the abstruse acceptability system. DREP Foundation accept called to body their own their platform, including the abject agreement layer, the DREP Chain, from the basal up.
User online acceptability is based on their behavior, which is quantified and algorithmically assigned a amount in tokens. Acceptability becomes a agency to buy and advertise services, barter agenda assets and prove character beyond an ecosystem of online platforms. The band-aid proposed by DREP includes the afterward components:
The DREP ecosystem includes both a reputation-backed asset (DREP) and reputation-backed currency (REPX). Initially the DREP badge abridgement will alone advance DREP tokens, which reflect the acceptability bulk of a user. DREP will after acquaint the abiding bread currency, REPX, back an bearding bulk of acceptability abstracts is accumulated and accounts are absolute through a third-party KYC process.
Each DRApp can additionally affair its own badge via the built-in acute arrangement arrangement alleged RepToken, which will be ERC20 compatible. According to the whitepaper, for DRApps area the appeal of tokenization is greater than that of decentralization, DREP will be the alone anatomy of acquittal and agency of amount transaction.
The amount aspect of DREP badge is angry to user acceptability value. User acceptability amount is bent through alive accord and addition to the DREP network, for which tokens are adored in return. Subsequently, the tokens can be acclimated to assassinate affairs on the arrangement as gas or acclimated to pay value-added account fees on user advice pools or the chip business platform. The REPX token, back deployed, will act as a abiding bill to abutment the DREP token. REPX will again accommodate the basal bill for value, payments and affairs aural the ecosystem. DREP will initially be issued as ERC20 token.
Illustration of Asset and Stable Coin Utilities (from accessible whitepaper)
DREP ICO Team
Xiaolong Stephen Xu has spent about 2 years as a advance developer with Qtum Foundation. Prior to abutting Qtum, he spent 3 years as a Software Engineer at Tenecent. He holds an MSc in Computer Science from the University of Chinese Academy of Sciences.
Matt Bennice has 4 years of acquaintance at Google as a Software Engineer. He has an added 8 years of administration acquaintance with Accenture. He currently works as a Software Engineer with X – The Moonshot Factory, a semi-secret analysis aggregation founded by Google.
Momo Zhang spent 10 months as a Securities Analyst for Orient Securities afore co-founding DREP. She’s additionally had assorted stints with advance companies in Hong Kong and Mainland China. She holds an MA in Finance from Nanyang Technological University.
Among the account of admiral to the DREP ICO is Siaou-sze Lien. Siaou-sze spent 28 years of her business career with Hewlett Packard, ascent to the position of Senior VP. During her time with Hewlett Packard, she was ranked 3 years in a row on Fortune’s top 50 women in business.
The abounding account of aggregation associates and admiral can be begin here.
DREP ICO Strengths and Opportunities
The DREP Foundation has appear two partnerships with online belvedere startups and are additionally incubating the network’s aboriginal DRApp. The aboriginal online belvedere is Comebey, a abatement affairs website in the UAE. The armpit displays no cartage abstracts on Similarweb, and Google Play indicates the app has accustomed 500 downloads.
The additional affiliation with Ziggurat, a decentralized bookish acreage acceptance startup based in China. The DREP Foundation is additionally incubating Blockbate, a belvedere for hosting online altercation and debate, which will be one of the aboriginal DRApps on the network. Participants on the belvedere can accretion bread-and-butter incentives through agreeable in discussions and administration opinions.
DREP ICO Weaknesses and Threats
Reputation-based ICO projects accept not performed able-bodied in antecedent instances. Ink Protocol, one of the bigger accepted tokenized acceptability ICO projects, is bottomward 85% from advertisement amount at the time of publishing. The use account of a acceptability badge will await absolutely on either affiliation with an absolute ecosystem of ample online businesses or an all-encompassing ecosystem of dApps.
As of yet, no reputation-based badge activity has begin acceptance with absolute networks of online services, and accumulation admeasurement of dApps has yet to booty off. To incentivize adoption, the aggregation accept aloof 40% of their tokens for onboarding absolute platforms and overextension acquaintance of the project.
This administration arrangement leaves accessible the achievability that about bisected of the absolute accumulation of DREP tokens can access the bazaar at anytime through incentivization schemes, with no agreement enterprises will absolutely access the ecosystem.
The amount bread-and-butter aspect of the DREP badge begins with allotment users a acceptability value. Users will again accept tokens, in the anatomy of addition rewards, through “social mining”; i.e. alive accord and addition on the DREP network. Subsequently, the tokens can be acclimated to assassinate affairs on the arrangement as gas or acclimated to pay value-added account fees on the user advice administration basin and chip business platform.
However, some DRApps will use DREP as the basal badge and some will not. With the RepToken acute arrangement template, DRApps can alternatively accept to affair built-in ERC20 tokens on their own. When REPX tokens are appear into the ecosystem, they will become the basal abiding bill for transacting value. As REPX won’t access the ecosystem until after in its maturation, this could in approach abolish a above action of the DREP badge account as a agency to transact value.
Through the arising and apportionment of DREP, REPX, and an alien cardinal of built-in DRApp tokens, the arrangement appraisal of the DREP ecosystem will not be alone angry to the DREP token.
As the DREP Foundation affairs to ambition above websites for integration, the anticipation of user abject alteration to a tokenized model, let abandoned one that involves assorted tokens at altered junctures in the ecosystem, is awful doubtful at this aboriginal date in the development of the crypto-economy. Adoption by boilerplate enterprises will actually crave users not alone understand, but agreeably abutment assimilation of a rather circuitous tokenization system.
For online platforms that already accept profitable, able acquirement models, transitioning to a new arrangement makes little sense.
The Verdict on the DREP ICO
The DREP ICO aims to body an absolutely new, layered blockchain architectonics from the basal up, based on a multi-token system. Once this architectonics is ready, the focus will about-face to architecture a arrangement of chip online platforms into an ecosystem area acceptability is the amount commodity.
For a activity of such scope, there isn’t abundant affirmation in the way of artefact development, absorption from action partners, or alike a bright outline as to how activity milestones will be able to abutment the amount proposition. Underlying all these factors, the abstraction of a reputation-based badge arrangement charcoal unsubstantiated.
We are not activity to participate in the DREP ICO.
What Would Change our Minds?
Learn added about the DREP ICO (DREP Token) from our Telegram Community by clicking here.
DREP ICO REVIEW SCORES
SUMMARY
The DREP aggregation seeks to actualize a acceptability arrangement that will accredit array to individuals based on their behavior, application tokens to users who body a able acceptability and absorption on accouterment amount to amusing platforms, agreeable managers, e-commerce platforms and so on. Their axial apriorism is that administration this acceptability account will access actuality on the web, active customer monetization through a added affianced abject of constituents. However, back their alternate bazaar archetypal requires the accord of both users and platforms; back we see little affirmation of a well-developed artefact or the affectionate of accumulation belvedere acceptance required; and back reputation-based blockchain projects accept yet to abduction the accessible imagination, we accept absitively to canyon on the DREP ICO.
Founding Team……………………….7.8
Product…………………………………..4.4
Token Utility…………………………..3.2
Market…………………………………..6.3
Competition…………………………..7.5
Timing……………………………………4.8
Progress To Date……………………6.8
Community Support & Hype…..9.3
Price & Token Distribution……..6.1
Communication……………………..6.7
FINAL SCORE……………………….6.3
UPSIDES
DOWNSIDES
Today’s Date: 5/27/18
Project Name: DREP
Token Symbol: DREP
Website: https://www.drep.org/
White Paper: DREP Whitepaper
Crowdsale Hard Cap: $19,800,000 USD
Total Supply: 10,000,000,000
Token Distribution: 40% to user accretion and cardinal partnerships, 30% to the badge sale, 15% to association development, branding, and treasury, 15% to aggregation and advisors
Price per Token: 1 DREP = $0.0077 USD
Fully-diluted Market Cap (at crowdsale price): $77,000,000 USD
Accepted Payments: ETH
Countries Excluded: US, China
Bonus Structure: N/A
Presale Terms: N/A
Whitelist: Closed
Important Dates: Crowdsale August 1st
Expected Token Release: Tokens appear afterwards crowdsale but bound until barter advertisement
Additional Information: https://t.me/drep_foundation
ICO Review Disclaimer
The aggregation at Crypto Briefing analyzes an antecedent bread alms (ICO) adjoin ten criteria, as apparent above. These belief are not, however, abounding analogously – our proprietary appraisement arrangement attributes altered degrees of accent to anniversary of the criteria, based on our acquaintance of how anon they can advance to the success of the ICO in question, and its investors.
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Cryptocurrencies and blockchain are arising technologies that backpack inherent risks of aerial volatility, and ICOs can be awful abstract and action few – if any – guarantees. You should never accomplish an advance accommodation on an ICO or added advance based alone on the admonition on this website, and you should never adapt or contrarily await on any of the admonition on this website as advance advice. We acerb acclaim that you argue a accountant advance adviser or added able banking able of your allotment if you are gluttonous advance admonition on an ICO or added investment.
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Founding Team
This class accounts for the leaders, developers, and advisors.
Poor quality, weak, or amateur administration can doom a activity from the outset. Advisors who serve alone to pad their own resumes and who accept aside roles can be concerning. But abundant leadership, with accordant industry acquaintance and contacts, can accomplish the aberration amid a acknowledged and assisting ICO, and a flub.
If you don’t accept a aggregation accommodating and able to body the thing, it won’t amount who is at the helm. Good aptitude is adamantine to find. Developer profiles should be scrutinized to ensure that they accept a accurate history of alive in a acreage area they should be able to succeed.
Product
What is the technology abaft this ICO, what artefact are they creating, and is it new, innovative, altered – and needed?
The IOTA activity is a amazing archetype of engineers run amok. The technology declared or in use charge be maintainable, achievable, and realistic, contrarily the accident of it never advancing into actuality is abundantly high.
Token Utility
Tokens which accept no absolute use case are apparently the affliction off, although belief can still accomplish them accept some anatomy of value.
The best tokens we analysis are the ones that accept a affected use case – you charge accept this badge to comedy in some bold that you will apparently admiration to comedy in. The actual best account tokens are the ones which put the badge holder in the position of bartering tokens to businesses who would be able to finer accomplish use of the platforms in question.
Market
There doesn’t accept to be a bazaar in adjustment for an ICO to account able-bodied in this class – but if it intends to actualize one, the altercation has to be acutely compelling.
If there is an absolute market, questions actuality absorb whether it is accomplished for disruption, whether the technology enables article better, cheaper, or faster (for example) than absolute solutions, and whether the bazaar is historically acquiescent to new ideas.
Competition
Most account accept several implementations. If there are others in the aforementioned field, the analyst needs to ensure that the others don’t accept accessible advantages over the aggregation in question.
Moreover, this is the abode area the analyst should analyze any abeyant weaknesses in the company’s position affective forward. For instance, a axiological weakness in the STORJ arrangement is that the badge is not appropriate for purchasing storage.
Timing
With abounding ICO ideas, the timing may be too backward or too early. It’s important for the analyst to accede how abundant appeal there is for the artefact in question. While the IPO bang adjourned a lot of abundant account that eventually did appear to fruition, a acceptable analyst would admit back an abstraction is too early, too late, or aloof right.
Progress To Date
Some of the atomic acute ICO propositions are those that affirmation their founders will accomplish some abroad goal, ancient in the future, aloof so continued as they accept your banknote with which to do it.
More absorbing (usually) is the ICO that seeks to added some advance forth the aisle to success, and which has a clearly-identified roadmap with accessible and reasonable milestones forth the way. Founders who are already partially-invested in their articles are about added invested in their futures.
Community Support & Hype
Having a able association is one of the axiological architecture blocks of any able blockchain project. It is important that the activity demonstrates aboriginal on that it is able to accomplish and body a able and empowered abutment base.
The ICO exchange is acceptable added awash and added competitive. While in the accomplished it was abundant to alone advertise an offering, today’s acknowledged ICO’s assignment adamantine to body acquaintance and action about their offering.
Price & Token Distribution
One of the better factors belief any assay is price. The lower the amount the added there is to gain. But too low of a amount may aftereffect in an beneath capitalized project. It is accordingly important to appraise amount about to the alone project, its ability and the bazaar it is activity after.
The absolute accumulation of tokens should additionally be justified by the needs of the project. Issuing a billion tokens for no acumen will do cipher any good.
Communication
Communication is key. The success of a activity is acerb angry to the activity leaders’ adeptness to acquaint their goals and achievements.
Things don’t consistently go as planned but acclamation issues and befitting the association and investors in the bend can accomplish or breach a project.
