Decentralized Reputation System (DREP) is a decentralized solution based on blockchain technology that quantifies and monetizes reputation value and uses it for trading, making investment, sharing data and providing services for all the Internet platforms.
DREP’s vision is to build a reputation-centred blockchain platform for the Internet by utilizing decentralized mechanism, economic incentives, and data sharing; to break the data barriers between different Internet platforms and quantify and monetize the reputation value of users, content, products, services etc. on the blockchain; to allow reputation-owners to manage their reputation in a safer and more private way; to enable applications on the Internet to maximize the value of reputation.
Rated on Jun 8, 2018
- 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.
- 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.
Rated on Jul 8, 2018
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
Rated on Jun 22, 2018
Modified on Jul 15, 2018
- ‘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
- No proof-of-concept as we are unsure of the market needs for such product or service
- Team is pretty strong with relevant blockchain experiences
- Advisors are not too impressive
- The token doesn’t seem to have good utility
Token Metrics and Structure
- 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
- Hard cap is relatively high in this bear market
Roadmap and Progress to-date
- Not just a ‘whitepaper project’, but already have MVP
- Looks like they already have exchanges secured
- Mainnet is 2019 Q1 is reasonable
Community Support and Hype
- The hype is quite high
- Telegram = 16,000 members (without Airdrop)
- The team has refunded all the pools, and this can create more FOMO
- Good timing as most of the recently listed ICOs have good performance
- Partnership with Quarkchain (Quarkchain 20x within the 1st week of hitting exchanges)
- Qtum foundation backing
Short-term = good
Long-term = good
Decision = Buy
Bet amount = Medium
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TeamApply as an advisor
Lead UX/Ui Designer
Initiate DREP project, design project framework, and draft the white paper.
Project framework design including four economic incentive models and reputation-based smart contract.
Register DREP Foundation in Singapore; Private funding at a discounted price.
1. Case sponsor for Shanghai-Singapore Business Forum x Hackathon 2018 2. Co-establishment of Sino-Singapore Innovation Alliance (SSIA)
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
1. Deployment of third party KYC interface 2. Deployment of third party IP Protection for content platforms 3. Beta test of reputation infrastructure network.
DREP first Internal- incubated DAPP launched.
Beta test of reputation infrastructure network.
1. Main net launch 2. DREP Wallet/Explorer 3. Introduction of third party reputation algorithm library.
1. Development of more plugins and derived applications 2. Cross-chain interoperability.