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The DAV network is a platform built on open-source software that allows anyone to get access to transportation services using a tokenized utility nicknamed DAV token. The tool is the currency of choice within the DAV ecosystem. The payments done with it through the Blockchain are essential to keep the ongoing dynamics of the platform. The signature of the smart contract between parties will be followed by the offering services negotiated. After the fulfillment of the contract, the seller can use the communication systems available to them secure the release of funds from the contractor.

The Background of the DAV token

The DAV utility is developed under the ERC20 token protocol using the basic interface offered in the software development kit with extra features that enhances its functionality in accordance with the demands of the DAV ecosystem. The modifications also work to improve the security of longstanding issues associated with the ERC20 framework. The DAV tokens will be available to be freely traded and transferred between digital wallets, but their main function is to pay for the services offered in the platform as well as to establish the identity of each user according to their levels of usage. The token may also be used to offer incentives to participants within the ecosystem.

The DAV token distribution scheme

DAV network is currently in the fundraising stage, looking to expand their capital to increase the size of their operation. The company has generated enough buzz to achieve 50% of their planned roadmap. While there is not an official number of the number of tokens issued by the company, they have published a token distribution scheme that goes as it follows: 40% of the DAV tokens generated will be offered in the public sale planned for April of 2018. 25% will be offered in bounties and partnerships. 20% will be allocated as a long-term budget to cover their operations and pay the salaries of the developing team, and the remaining 15% will be distributed among the founders and the advisors.

The distribution of the DAV fundraising

After the fundraising is done, DAV networks have a planned distribution of their earnings that begins by allocating 45% of the money raised to research additional technical aspects and the further development of the DAV platform. 20% will be used to expand the operations to international markets. 15% will be used for marketing purposes. 10% will be allocated to cover for legal expenses as well as covering the fees requested overseas for compliance with the local laws. The last 10% will be used for general expenses as well as administrative set-up costs.

DAV Estimated Figures

The company has set a soft cap of $5 million to begin their operations and a hard cap of $38 million to be successful. With a set rate of 1ETH = 10,000 DAV tokens and the average cost of Ethereum topping the $1000 mark, a conservative estimate put the number of tokens needed to cover the soft cap in 50 million DAV units. But this is just speculation at this point, the company is currently looking to complete the test of the first autonomous boat within the platform, and the token sale is still to be announced, but the roadmap indicates that it will take place in April. To learn more about the offerings of DAV you can check https://dav.network/.