DRIFE is a completely decentralized ride-hailing platform powered by the EOS blockchain with the intent of empowering value creators within ecosystem – these include the drivers, riders, and community developers. DRIFE plans to disrupt the existing business model and remove the corporate intermediaries involved in the transactions. What created in the DRIFE ecosystem is a new paradigm for the ride-hailing industry. The first platform in this niche to express the full features of the decentralized ride-hailing economy.
DRIFE Ecosystem
At the core of ecosystem are value creators (Drivers) and extractors (Riders) — take good care of them:
A. Drivers: 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 ‘Rider’ goes directly to the ‘Driver’. t DRIFE are determined to make an economy of Zero commission on rides, only annual Membership Fee from the driver which will give them access to DRIFE platform to get connected with the riders.
The platform fee can be paid in either DRIFE token or Fiat currency and will accrue annually, with the first year Membership Fee paid by the drivers acting as a security deposit. Drivers will be given equivalent DRIFE tokens, which is locked into the DRIFE platform as long as the Driver remains in the community. Anytime the driver wants to exit from the community, they will be free to liquidate their DRIFE token for themselves.
The second-year membership fee will give drivers access to DRIFE platform only with no DRF token equivalent given. Funds collected through membership fee will be used for pay day to day expenses to run the platform.
B. Riders: passengers receive special exclusive discounts (T&C applies) when DRIFE tokens are used to make payments for trips. Further, as incentives and bonuses when they behave appropriately during rides. More so, feedbacks on the driver, trips, overall DRIFE platform use, and network building are incentivized through the DRIFE token.
C. Developers: a community of open-source developers are incentivized through bug bounties and for other potentially creative in-app developments that will user experience through UI interaction for both riders and drivers.
D. Investors: it’s desire that product will have an indirect impact on adopters ‘outside’ user ecosystem. This will include long-term investors, traders on both decentralized and centralized exchanges and all future potentials the DRIFE token will have as a result of interaction with product and is adoptability. Incentives here will involve periodic airdrops, selfdrops, and air grabs. More so, staking rewards are competitive and far beneficial than what is currently obtainable on other decentralized projects.
Decentralized Platform
Decentralization aims at shifting the focus from a central authority to the driver partners. With the power of the Blockchain technology, the DRIFE platform strives to bring a new paradigm to the ride-sharing scenario and solve the horde of issues that have emerged from the current model of centralized business. The growth of the platform not only contributes to the objective of DRIFE but also enhance the overall value provided to all the stakeholders concerned like driver’s income, rider’s fare, cybersecurity and transparent governance.
Sustainable Driver Income
Aim is to eliminate excessive transaction fees, reduce censorship (reduce interference from DRIFE side) and redistribute value back to the community, enhance transparency and return governance responsibilities back to the community.
The DRIFE platform is developed with the intention of solving the current concerns in the drivers’ community, alongside enhancing the quality of rides for the customer.
Drivers are given incentives to introduce new drivers to the DRIFE platform; which will in turn help to form a social community of drivers, owned by the drivers themselves. The result is a disintermediation of payment to any intermediary between the driver and the customer. This will inspire the new drivers to recommend other drivers until a critical number of drivers as defined by the network are present on the DRIFE platform.
Drivers using the DRIFE platform will be able to build and foster the growth of their own fleet of drivers. This encourages all drivers on DRIFE to start a new business for themselves, as entrepreneurs by becoming a DRIFE partner gaining individual income, without sacrificing any earnings in the form of commission.
Transparency
Blockchain implementation creates a fully auditable and valid ledger of transactions that is indelible and unforgeable. With auser-friendly interface to access the same,transparency in payments and fare calculations can be achieved. Will be storing data on EOS Blockchain, which will include all the information about the Journey, Each and every Commuters review and feedback will be stored on the distributed ledger, Commuters will be able to view all the details of drivers.
Badge of Honor
Unlike the rating and evaluation systems employed by incumbent players, DRIFE brings in an innovative and holistic approach to gauge the services provided by drivers and reward them accordingly
NO SURGE PRICE
DRIFE ecosystem leverages a ‘No Surge Price’ model to sustain rider’s loyalty and create sustainable income for drivers by paying them additional incentive during surge time, which will be tracked using a heat map, which will get activated when demand is greater than demand.
DRIFE TECHNICAL ARCHITECTURE
TECHNOLOGY STACK
- Blockchain protocol and environment: EOS.IO
- Smart Contracts: C++ DRIFE Services API: Node.js server with Express.js. Persistence Database: NOSQL Database (Google Firebase Realtime Database, MongoDB)
- Mobile & Web Application: React Native and Redux
- Fiat Payment Gateways
- 3rd Party Web Services:
- Google Maps API
- Google Firebase Authentication
- IPFS
Blockchain Infrastructure
DRIFE is built over EOSIO. EOSIO is an open-source blockchain software protocol that provides a platform to build, deploy and run high-performing decentralized applications (DAPPs). For consensus over messages, the EOSIO architecture uses Delegated Proof of Stake (DPoS). DPoS is a two-tier governance structure proven in Steem and Bitshares. DPoS is not only more energy efficient and environment friendly than consensus mechanisms like Proof of Work (PoW) implemented in Bitcoin and Ethereum, but way faster too. EOSIO based blockchains execute user-generated applications and code using Web Assembly (WASM). WASM is an emerging web standard with widespread support of Google, Microsoft, Apple, and industry leading companies. The EOSIO C++ toolchain is being used for building contracts for DRIFE that will compile to WASM.
PAYMENT PROCESSING FLOW
Figure above depicts the flow of payments within the DRIFE network. DRIFE will allow payments via cash, cards, and DRF tokens. This gives the commuter access to different payment options and choice. For every trip, the fare is paid 100% directly to the driver and thus, ensures that DRIFE has no hidden cost, charges or commission. This 100% fare payment to the driver offers major cost benefits when compared to competing ride-hailing systems and returns all revenue back to the community where it belongs.
DRIFE Dapp Interface
DRIFE apps will be available for IOS and Android. This will be the interface for all riders and drivers using DRIFE platform and will be focused on usability and instinctiveness. Mobile apps will be developed to be compatible with a maximum number of Android and iOS devices. DRIFE Mobile Application is built using React Native. User signup and login is achieved using Google Firebase Authentication.
Tokenomics
ICO Model
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 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.
TOKENSALEWILLOCCURIN THREESTAGES:
Presale: Discount Rate-20%
Total No. of DRF to be sold => 32.5 Million
Date-25th Feb,2019
Main ICO I: Discount Rate-15%
Total No. of DRF to be sold => 65 Million
Date-10th March,2019
Main ICO II: Discount Rate-10%
Total No. of DRF to be sold => 65 Million
Date-10th April,2019
Token Allocation
Overall, 325,000,000 tokens will be released. The hard cap of the tokens for sale is 50%. 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%) which will be locked for 10 years, bounties and Airdrop (3%), Referral, Rewards and Bonus-5%, Advisory (2%)
Fund Distribution
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.
Token Utility Model
ROADMAP
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