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DREP
Decentralized Reputation System
In response to the issues of fake news/contents/accounts, DREP Foundation aims to provide a blockchain infrastructure and decentralized reputation protocol. These will empower existing Internet platforms to unleash their reputation value and achieve the interconnectedness of reputation data in the Internet community.
DREP's vision:
- Build an infrastructure to accelerate internet platforms’ (social networking, online content providers, online games) user growth and traffic monetization
- Tackle the issues of fake news/contents/accounts identification and filtering
- Enhance tokenomics based on reputation-backed assets and reputation-backed currency
- Establish token holders sharing pool for more targeted user acquisition
DREP Foundation is committed to building a performance-oriented technology infrastructure, supporting high transaction capacity for an ecosystem generating valuable reputation data. Focusing on two industry pain points: lack of user adoption and low transaction throughput, DREP Foundation aims to provide a highly scalable blockchain architecture, DREP Chain, for deployment of a reputation protocol that anyone can use.
DREP Foundation provides a decentralised reputation ecosystem comprised of a public chain, a reputation-based protocol and a suite of tools for internet platforms (DRApps) to leverage its power.
DREP Chain Overview
DREP Chain is a novel scale-out architecture, with a mutually independent governance mechanism for the two-layer structure as well as within shards.
Characteristics of DREP Chain:
1. Scalability - To overcome the fundamental limitation of existing scalability catering to the needs of large scale Web-based DRApps
2. Tokenomics - To allow the flexibility and versatility of reputation-based tokenomics for DRApps
3. Zero Identify Proof/ Privacy - To enhance the data privacy security and encryption features by providing user's ability to have a private identity in a public ledger
4. Data Aggregation - To deploy reputation protocol with requiring capabilities of data storage and data aggregation
5. Processing Spend - To provide low to no value transactions with substantially low cost
Reputation Protocol Overview
DREP is developing a technology layer that quantifies, monetizes and aggregates reputation value of users across different platforms, including e-commerce, gaming, content, social networking platforms.
The reputation protocol is uniquely designed to serve the reputation-based assets and currencies running both internal ecosystem and across platforms, thus empowering data sharing and easing the information silo effect.
ICO consultant Rated on Jul 22, 2018 Modified on Jul 22, 2018
3
3
3
18%
The eradication of fraud which the project is working has a big meaning in the Internet society.
The project is also blessed with teams.
Although the hard cap is 3 billion Token, what happens to the project if it does not reach here? For example, in case of 1billion.
I would like to know what kind of change is caused by raised funds.
Also, the role played by tokens is not so strong.
Senior Technology Executive, ICO Advisor, CryptoCurrency Enthusiast, Investor Rated on Jun 8, 2018
3
4
4
12%
Team:
- Competent team from good cross section of companies
- Happy to see someone with finance experience on the team to manage the money (Momo)
Facets to explore:
- !! Project has not passed KYC here on ICOBench.. Will attempt to contact team.
- Stephen has a dead Linkedin link here..
- Would like to see more seasoned management on the team that has run companies before.
- Two of the cofounders seem to be involved in multiple projects (focus); Be good to understand the plan here.
Product/Vision:
- Great initiative to get rid of fake (everything) online and drive accountability
Facets to explore:
- $48 MM hardcap is way outside the hot zone for an ICO raise; this will work against the initiative. reconsider.. would like to see a stage gate raise approach that is performance / milestone / tranche based. Without an extraordinarily solid plan and a very seasoned team, this amount of money is a distraction in itself.
**Funny note.. Drepp Drapp .. maybe tips should be Dripps or Dropps on the Drapp.
Notice: I do not provide investment advice. Please see my profile for important disclosures.
Founder,CEO at PrimeTradeAI uses AI Blockchain Trading ICO | Crypto 8 year Rated on Jul 8, 2018
3
3
3
10%
DREP is decentralized reputation network that leverages blockchain technology to tackle issues of fake news, fraudulent accounts, and false content. The goal is to quantify, monetize and share reputation value.
Has some good partnerships
Small amount of tokens for sale is concern ( 30%) and also 40% for marketing as well
No testnet last we checked
Blockchain Evangelist | Advisor | Investor Rated on Aug 1, 2018 Modified on Aug 1, 2018
4
4
4
9%
A decentralized reputation ecosystem comprising of a public chain, a reputation-based protocol and the tools for Internet platforms to leverage its power
Pros:
- Strategic Investment by KuCoin
- Quarkchain partnership
- Reduced its hardcap from 28.7M to 19.8M
- Has made progress with their product
Cons:
- Two different tokens
- Quite a few projects related to reputation data management such as Ink Protocol already exist
- Adoption may prove to be difficult
President of Nanyang Blockchain Association | Founder of MR ICO | ICO Researcher and Analyst Rated on Jun 22, 2018 Modified on Jul 31, 2018
4
3
3
8%
Project
Opportunities
- ‘Platform’ project usually has good ROI
- It is a new and innovative idea in the space
- Huge market size with virtually no competitor as of now
- Have unique value proposition
Concerns
- No proof-of-concept as we are unsure of the market needs for such product or service
Team
Opportunities
- Team is pretty strong with relevant blockchain experiences
Concerns
- Advisors are not too impressive
Tokenomics
Opportunities
-Nil
Concerns
- The token doesn’t seem to have good utility
Token Metrics and Structure
Opportunities
- Good bonus structure with maximum bonus of only 30%
- The price is low, and that is good
- 30% bonus for private investor is reasonable
- 50% of token is locked to avoid dumping on exchange
- Team’s tokens is vested
Concerns
- Hard cap is relatively high in this bear market
Roadmap and Progress to-date
Opportunities
- Not just a ‘whitepaper project’, but already have MVP
- Looks like they already have exchanges secured
- Mainnet is 2019 Q1 is reasonable
Concerns
- Nil
Community Support and Hype
Opportunities
- The hype is quite high
- Telegram = 16,000 members (without Airdrop)
- The team has refunded all the pools, and this can create more FOMO
Concerns
- Nil
Timing
Opportunities
- Good timing as most of the recently listed ICOs have good performance
Concerns
- Nil
Partnership
Opportunities
- Partnership with Quarkchain (Quarkchain 20x within the 1st week of hitting exchanges)
- Qtum foundation backing
Concerns
- Nil
Conclusion
Short-term = good
Long-term = good
Decision = Buy
Bet amount = Medium
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
Initiate DREP project, design project framework, and draft the white paper.
2
Q4 2017
Project framework design including four economic incentive models and reputation-based smart contract.
3
Q1 2018
Register DREP Foundation in Singapore; Private funding at a discounted price.
4
2018 Q2
1. Case sponsor for Shanghai-Singapore Business Forum x Hackathon 2018 2. Co-establishment of Sino-Singapore Innovation Alliance (SSIA)
5
Q3 2018
1. Cooperation with Nanyang Technology University of Singapore to establish a joint blockchain lab and training center 2. Further enrichment on Reputation Quantifying Algorithm Library 3. Development of plugins on application layer 4. Launching of first internally incubated DRApp
6
Q4 2018
1. Deployment of third party KYC interface 2. Deployment of third party IP Protection for content platforms 3. Beta test of reputation infrastructure network.
7
2018 June
DREP first Internal- incubated DAPP launched.
8
2018 Q4
Beta test of reputation infrastructure network.
9
2019 Q1
1. Main net launch 2. DREP Wallet/Explorer 3. Introduction of third party reputation algorithm library.
10
Q2 2019
1. Development of more plugins and derived applications 2. Cross-chain interoperability.
