DRIFE – The Nexgen Decentralized Ride Hailing Platform

By Lanfy | Lanfy | 29 May 2019

INTRODUCTION
Incorporating the activities or transactions of the local transportation or taxi industry into the Blockchain technology is a continuation of an age long evolution. It is an idea that will enable a trustless process through dApps using the smart contracts. And each transaction carried out automatically becomes a part of the blockchain.
DRIFE PROJECT
This write-up will point to necessary areas of Drife Project for the benefit of the potential platform participants as well as for interested individuals who may be willing to contribute to the development of the project. However, the information here may not be whole but it does not reflect a contractual relationship. The cardinal purpose is to intimate you with the project and possibly assist you in your personal analysis of the project. Drife is a very big project with huge potentials and it will be of a great benefit if you can have a fore knowledge of it before delving into it.
DRIFE is a decentralized ride-hailing platform powered by blockchain technology soaked with the intent of empowering value creators within their ecosystem. The value creators who are, the drivers, commuters, and community developers. In 2009 the traditional taxi industry got disrupted by a certain company called Uber – an innovative idea of connecting the passengers and drivers through a platform. Subsequently, various companies in different countries started to appear, like Ola in India, Didi in China, Grab in Singapore, Careem in Dubai and so on. However, DRIFE will be taking the industry far in advancement by disrupting the existing business model and removing the corporate intermediaries involved in the transactions. Drife ride-hailing platform is the first of it kind to incorporate the full features of the decentralized ride-hailing economy – hence, creating a new paradigm for the ride-hailing industry. Drife will solve the horde of issues sorrounding the current model of centralized business. The growth of the platform will concomitantly contributes to the objective of the project and the enhancement of the overall value made available to all the stakeholders concerned like driver’s income, cybersecurity, commuters fare and transparent governance.
FEATURES OF DRIFE
• No Commission
DRIFE plans to shift its focus from the existing commission-based platforms into a new economic model of decentralized network, where 100% of the fare paid by commuters will go directly to the drivers.
• Governance
DRIFE will enhance a democratic atmosphere where network participants will be engaged in financial and operational decision making for the platform.
• Incentivise Social Platform
DRIFE provides additional incentives to all its network users who are involved in the platform’s development through social interaction and network building
• Safety
DRIFE prioritizes the safety of the commuters. It will embark on multiple security checks on the drivers prior to on-boarding and whilst in service. Adequate infrastructure will be put in place for broadcasting Emergency SOS signals within the community to solicit help.

PAYMENT PROCESSING FLOW
DRIFE will allow payments via cash, cards, and DRF tokens. Commuter will have access to different payment options and choice without hidden cost.

Tokenomics
Drife token, (DRF) is the Drife utility token. It will also function as a currency within platform to execute ride payments, access loyalty rewards and staking functions on platform.

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 will also be sold on exchanges.
The Driver and rider bonus tokens are in form of incentives to encourage loyalty from DRIFE customers; the early adopters of DRIFE APP will receive it inform of free miles for commuting, and it will be given to both rider and drivers for every new people added to their network.
TOKEN SALE WILL OCCUR IN THREE STAGES:
Presale: Discount Rate-20%
Total Number of DRF to be sold is 32.5 Million
Main ICO I: Discount Rate-15%
Total No. of DRF to be sold is 65 Million
Main ICO II: Discount Rate-10%
Total Number of DRF to be sold is 65 Million
Token Sale: https://www.drife.one/

Token Allocation

Overall token to be released is 325,000,000 tokens.
The hard cap of the tokens for sale is 60%.
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%),
Bounties and Airdrop (3%),
Referral, Rewards and Bonus-5%, Advisory (2%)

Fund Distribution

All funds contributed as parts of pre-sale will be used for development, testing and release of Minimum Viable Product (MVP). And also to render support for community building campaigns.
Funds contributed as part of ICO will be expended on rolling out the final version of the platform and its mainstream adoption.
ICO funds will also be spent on: product enhancements (including bug bounties), 3rd party audits, testing, marketing and reserves for future contingencies.

Roadmap

For more information, kindly refer to the links below:
Website: http://drife.one/
Whitepaper: https://www.drife.one/wp-content/uploads/2018/10/Drife-Lightpaper.pdf
Facebook: https://www.facebook.com/drife.official
Telegram: https://t.me/Drife_officialchat
Twitter: https://twitter.com/Drife_official
Medium: https://medium.com/@drife_official
Youtube: https://www.youtube.com/channel/UC6hDbqlihawJTGlmYa4P2Tg
Linkedin: https://www.linkedin.com/company/drifeofficial/
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=5027608.0