ICO Drep

Website: https://www.drep.org
Token Type: ERC 20 issued, to be converted after migration to new
platform
Ticker: DREP
Token Supply: 10,000,000,000 DREP
Hard Cap: 28,710,000 USD
Whitepaper: 49 pages

Token Distribution:

Project Summary:

• Reputation based system storing reputation on chain

• Quantifies reputation through various input parameters and outputs a
  reputation

• Attempts to append a reputation on all participants in the internet

• Economic Models

  • Voting Model

    • Many vote one

    • Encourage service standards/good content

  • Reputation Endorsing Model

    • Vouch for an individual, placing their own reputation at
      stake

    • Used to solve conflicts where majority will be rewarded by
      confiscation of minority

  • Tipping

    • Tipping of tokens

  • Value adding

    • Voters invest in individual and get returns on the
      individuals increased reputation

• To provide smart contract platform for platforms to utilize DREP

• To develop/adopt DPOS as a consensus model

  • Likely migration to QTUM platform (due to partnership)

• REP Token

  • To be compatible with ERC20

  • Used as reputation value

  • Used as incentive

  • Public key (address) must be linked to DRApp platform to
    ascertain legitimacy

• DRApp

  • Decentralized Reputation App

  • DRApp creators can launch RepToken

  • DRAPP creators can choose one of the 4 proposed Economic models

• DREP Council

  • Founding team to run at start

  • Community vote to select subsequent members

  • Determine coin parameters (e.g Block time, block size, block
    reward)

Pros/Cons:

• Pros

  • Project is for a market segment that is somewhat niche

  • Decent use case of open ledger technology

  • Providing different economic models is refreshing

• Cons

  • Only 30% of the tokens are sold in Presale and Crowdsale

  • Inflationary coin where council members control the coin
    parameters

  • Token distribution will be further centralized when mining
    starts with foundation holding majority of tokens

General Thoughts:

The DREP ecosystem looks to resemble STEEM to a large extent, where even
a planned migration to a DPOS consensus is suggested in the whitepaper.
It is likely that DREP will exist on the QTUM platform due to their
partnership. However, it is also possible for DREP to migrate to
a DPOS platform such as NEO, STEEM or EOS.

A way DREP differentiates itself from STEEM is the ability for a DRApp
creator to select his/her own economic model. Compared to STEEMs tipping
model, DREP offers both positive and negative reinforcement models which
might end up bringing complexity to the system.

A red flag that one should be weary of is the inflationary nature of the
DREP platform where a DPOS consensus mechanism would only create blocks
over time. Unlike STEEM's SBD and STEEM power ecosystem, there exists
no tool to combat this inflationary nature. In addition to the low
number of tokens being sold, the DREP management acting as the sole
block creators for an undefined period will mean that the token
distribution will be centralized to a large extent. The partners on
DREP's whitepaper also do not seem relevant to the platform they are
developing. The should be a point to look out for post ICO.

I would also like to point out that STEEM is developing their own Smart
Media Token (SMT) platform where users can easily create their own
tokens on the STEEM platform. The SMT platform also touts a Disqus like
app which can be integrated into websites to facilitate discussion,
token tipping etc.

In conclusion, the DREP project looks to be a decent but such projects
require large amounts of adoption where App creators are required to
tailor their app to include and be compliant to the DREP platform. It
would also be possible to easily mirror DREP's use cases onto the STEEM
platform which already has a large userbase. One thing I would look out
for will be the geological market DREP is targeting to judge whether
DREP stands a chance against STEEM.

Rating: 7.6/10

Feel free to leave a comment on which projects interest you as I would
like to have a look at it too! They need not be ICOs!

Disclaimer: This is not investing advice and simply my personal
thoughts
and opinions. I am not liable for any decisions made from this post. I
am also not affiliated with any investment or advisory firms and do not
engage in activity with such entities.

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