Tokenomics
Last updated
Last updated
Welcome to the world of DRF—the digital currency that powers the DRIFE ecosystem. DRF, or DRIFE Token, is at the core of our mission to make ridesharing simple and rewarding for everyone. Beyond just a token, DRF represents innovation, empowerment, and community within DRIFE.
The total supply of DRF tokens is capped at 1 billion DRF. These tokens will be natively minted on the SUI blockchain, which serves as the foundational infrastructure for DRIFE's decentralized ecosystem. It's important to note that DRF operates as a fixed supply token, meaning that only 1 billion tokens will ever be created.
This finite token supply is designed to ensure scarcity and value appreciation over time, aligning with DRIFE's long-term vision of fostering a sustainable and thriving token economy. By establishing a fixed supply model, DRIFE aims to instil confidence among token holders and investors, while promoting stability and liquidity within the ecosystem.
The distribution of DRF tokens is divided into several categories to support various aspects of DRIFE's ecosystem and operations. These categories include Fundraise, Liquidity, Existing Token Holders, Team, Advisors, and Treasury.
Seed Round (SEED): A 10% allocation of tokens is reserved for the Seed Round, which represents an early stage of fundraising to support the initial development and growth of DRIFE.
Private Round: The Private Round is subdivided into three segments: Private 1, Private 2, and Private 3. Private 1 receives 5% of the total token supply, Private 2 receives 2.5%, and Private 3 receive2.5%. These rounds are aimed at attracting strategic investors and partners who can contribute to DRIFE's mission and vision.
Key Opinion Leaders (KOL): A 2% allocation is dedicated to Key Opinion Leaders, who play a crucial role in driving awareness, adoption, and advocacy for DRIFE within their respective networks and communities.
Liquidity: 9% of the token supply is allocated to provide liquidity on decentralized exchanges and facilitate efficient trading of DRF tokens in the open market.
Early Contributors: An allocation of 15% of the total supply is allocated to existing token holders .
Team and Advisor: 10% of the token supply is allocated to the DRIFE team and Advisor to incentivize and reward their ongoing efforts in developing, maintaining, and growing the platform.
Treasury: The remaining 44% of the token supply is retained in the Treasury, providing flexibility for future initiatives, strategic partnerships, ecosystem development, and community initiatives.
It's important to note that each of these token allocations is subject to specific vesting schedules, ensuring responsible token distribution and alignment of interests between stakeholders and the long-term success of DRIFE.
Vesting refers to the gradual release of tokens over a specified period, ensuring responsible distribution and alignment of incentives among stakeholders. Below is the vesting schedule for different token allocations:
Round
Tge
Cliff
Vesting
Seed Round
5%
9 months
12 months
Private 1
5%
9 months
9 months
Private 2
5%
6 months
6 months
Private 3
5%
6 months
6 months
KOL
20%
0 months
8 months
Early Contributors
10%
3 months
9 months
Liquidity
10%
0 months
24 months
Treasury
0%
0 months
120 months
Team and Advisors
None
12 months
24 months
The DRF Loyalty Program is designed to reward drivers and riders within the DRIFE ecosystem for their active participation and engagement. Similar to loyalty programs offered by leading airlines and businesses, DRF tokens serve as a digital currency that can be earned and redeemed for various benefits within the platform.
Kilometer Based Rewards: Both drivers and riders earn DRF tokens for every kilometer traveled during a ride. This incentivizes active participation and engagement within the DRIFE ecosystem.
InApp Activities: Additional DRF tokens can be earned through various inapp activities, such as completing a certain number of rides within a specified time frame, receiving high ratings from users, and participating in promotional campaigns.
Discounts on Rides: DRF tokens can be redeemed for discounts on future rides booked through the DRIFE platform. Users can apply their accumulated DRF balance to lower the cost of their rides, making transportation more affordable.
Subscription Payments: Riders have the option to use DRF tokens to pay for subscription plans offered by DRIFE, unlocking additional benefits and features such as priority booking, discounted fares, and access to premium services. Also Drivers can use DRF to pay for their subscriptions.
Exclusive Rewards: Users can access exclusive rewards and perks by redeeming their DRF tokens, such as complimentary upgrades, priority support, and special promotions available only to DRF loyalty program members.
Increased Engagement: The DRF Loyalty Program encourages drivers and riders to actively participate in the DRIFE ecosystem, leading to increased engagement and retention.
Cost Savings: Users can save money on their transportation expenses by redeeming DRF tokens for discounts and rewards, enhancing the overall value proposition of the DRIVE platform.
Enhanced Loyalty: By rewarding users for their loyalty and frequent usage of the platform, DRIVE fosters long-term relationships with both drivers and riders, driving continued growth and success.
CommissionFree Referral System: Instead of charging commission fees, the DRIFE platform operates on a referral system where a portion of the fare is distributed as referral rewards.
DRF Distribution: Referral rewards are distributed to both the driver and rider in the form of DRF tokens, creating demand and supply for the token within the ecosystem.
Stimulating Demand: The referral system stimulates demand for the DRF token by generating a continuous flow of transactions and rewards within the DRIFE platform.
The DRIFE Staking Membership program offers DRF (DRIFE Reward Framework) token holders the opportunity to participate in an ongoing and dynamic pool of rewards and benefits, known as the Infinity Pool.
Tiered Memberships: The program offers three tiers of membership, allowing DRF holders to choose the pool size and staking amount that suits their preferences.
Tier Benefits: Members receive rewards and benefits based on their chosen tier, with higher tiers offering greater rewards and privileges.
DRF Staking: Members stake their DRF tokens to participate in the program, selecting the city for which they wish to receive rewards.
RIDE Rewards: Rewards are distributed in the form of RIDE value, generated based on the profitability of DRIFE operations in the previous month.
City Selection: Members can choose the city for which they want to receive rewards, allowing them to optimize rewards based on their preferences and confidence in specific locations.
Monthly Membership Fee: A 1% token stake per month is deducted as a membership fee, enabling members to access the benefits of the program.
Renewal Fee: Members have the option to extend their staking period beyond one year, with a renewal fee applicable for subsequent years.
Penalty for Unstaking: Unstaking DRF tokens incurs a penalty, with penalties collected used to burn DRF tokens, enhancing scarcity and value.
CitySpecific Rewards: Members receive reward vouchers for the city they choose, allowing them to access rewards specific to that location.
Marketplace Access: Vouchers can be sold in the secondary market or used in personal or commercial marketplaces, providing flexibility in utilization.
The DRIFE Staking Membership program, with its Infinity Pool, offers DRF token holders the opportunity to actively participate in and benefit from the real-world operations of DRIFE across different cities worldwide. By staking DRF tokens and choosing their preferred city for rewards, members can access rewards, privileges, and incentives tailored to their preferences, contributing to the growth and sustainability of the DRIFE ecosystem.
The share to earn via the Data Collection initiative aims to empower drivers within the DRIFE ecosystem by incentivizing their participation in data collection activities. By leveraging GPS technology and vehicle data, drivers can earn tokens that reflect their contribution to the ecosystem.
Level 1: Location Data Sharing: Drivers start by sharing their location data through the DRIFE application while being online.
Level 2: GPS Device Installation: Drivers can opt to purchase or lease GPS devices from DRIFE to enhance data collection accuracy and coverage.
Level 3: Dash Cam Integration: Advanced participants can integrate dash cams into their vehicles, enabling the sharing of live map data in addition to GPS information.
Leasing GPS Devices: DRIFE leases GPS devices to drivers, enabling them to collect and share valuable data.
Token Acquisition: Drivers receive tokens based on the data generated by their GPS devices. Initially, drivers may need to pay for the tokens received to cover the lease cost.
Data Proceeds: The company retains 50% of the proceeds generated from selling the collected data.
Token Buyback: 45% of the data proceeds are allocated to buy back tokens from drivers if necessary, providing liquidity and stability to the token economy.
Token Distribution: Tokens are distributed from the company treasury based on the data sold and the current token market value.
Calculation Method: Token distribution is calculated based on the hours of data generated by a driver relative to the total hours generated by all drivers, multiplied by the value of data sold and divided by the current token market value.
Incentivized Participation: Drivers are incentivized to actively participate in data collection activities, contributing to the growth and development of the DRIFE ecosystem.
Earning Potential: By collecting and sharing data, drivers have the opportunity to earn tokens that can be used for various purposes within the ecosystem.
Smart Driver Initiative: The program promotes the evolution of drivers into smart drivers, leveraging technology to optimize their performance and earnings.
Community Engagement: The Share and Earn program fosters community engagement and collaboration among drivers, creating a network of empowered participants.
In envisioning the future of the DRIFE ecosystem, DRF emerges as a pivotal catalyst for transformative change, particularly in revolutionizing the payment landscape. As we set our sights on the horizon, we anticipate several key developments that will shape the trajectory of DRF as a payment method.
With ongoing efforts to promote DRF adoption and integration within the DRIFE ecosystem, we anticipate widespread acceptance and utilization among drivers and users. By seamlessly integrating DRF into existing payment systems and platforms, we aim to establish DRF as the preferred choice for conducting transactions within the DRIFE community.
As DRF gains traction, we envision an expansion of its use cases beyond ride payments. From subscription services and loyalty rewards to peer-to-peer transactions and marketplace purchases, DRF will serve as a versatile digital currency, facilitating a wide range of financial activities within the DRIFE ecosystem.
By embracing DRF as a payment method, we aspire to foster greater financial inclusion within the DRIFE community. Through initiatives aimed at empowering drivers and users from all backgrounds, we seek to democratize access to digital payments, promoting economic participation and empowerment on a global scale.
As we chart the course forward, innovation and collaboration will remain central to our strategy for advancing DRF as a payment method. By fostering partnerships with industry leaders and leveraging emerging technologies such as blockchain and decentralized finance (DeFi), we aim to drive continuous innovation and unlock new opportunities for growth and expansion.
At the heart of our vision lies a commitment to driving economic empowerment and prosperity for all stakeholders within the DRIFE ecosystem. Through the seamless integration of DRF into everyday transactions and financial activities, we seek to empower drivers, users, and partners with greater financial autonomy, opportunity, and prosperity.
