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Drife – ICO Detailed Information


ICO Drife
Drife Since they originally appeared almost 11 years ago, cryptocurrencies have been promising a change that would make the world a better place for everyone. They offer a number of benefits over traditional finances, including lower transaction fees, decentralization, as well as the ability to reach everyone, whether or not they have access to the bank.
Start October 5, 2019
End October 20, 2019
Rating 3.9
Status
KYC Yes
Founded
Categories Transport
Discussion

Drife Overview

ICO description, Technical Details and Documents

DRIFE: Blockchain-Based Next Generation Taxi Service


DRIFE is a ride-hailing platform developed by a team of Indian entrepreneurs and enthusiasts on the EOS blockchain. It was designed to solve the problems associated with the poor quality of taxi services and offer a unique value for drivers, passengers, and holders of platform’s native DRF tokens, which are currently being sold via IEO on the Shortex exchange.

The platform will operate on a no-fee basis, thus providing an economic incentive for both cabbies and riders. Moreover, the pricing on DRIFE will be determined by the market conditions, void of any hidden and extra charges.     

Token economics


The DRIFE token (DRF) is a utility token adherent to the ERC-20 standard. DRF will also act as a means of payment for the taxi rides, ordered through the platform. The holders will also be eligible for the rewards within different loyalty programs as well as regular payments for staking DRF. Moreover, DRIFE will introduce the lending program, which will allow holders to earn interest from loaning DRF.  

The users of the DRIFE platform would also have to pay a subscription fee which is going to be denominated not in the native token, but in USD.  


The DRIFE team

IEO details


DRIFE is currently conducting the Round 1 of the IEO that takes place on the Shortex Launchpad that belongs to the Estonia-based cryptocurrency exchange. The first round is scheduled to run till October 10, with the final date of the token sale event set on October 25.

The DRF tokens are being sold at a price of $0.25 per unit, though there are also token bonuses available during each of the rounds. The ongoing 1st round provides for the 40% token bonus for all early investors — the project allocated 162,5 million tokens for sale, out of the total supply of 325 million DRF. DRIFE also affords the followers the possibility to earn extra tokens through the bonus and airdrop programs.

According to the whitepaper, DRIFE intends to use 35% of the obtained funds to carry out the development of the proprietary mobile application and other products; 50% of all money will be used for marketing and promotional purposes.

Investments can be made only in ETH, with the minimum purchase limit being established at 0.1 ETH. In order to be admitted to the sale, one must pass the KYC procedure. That’s basically the only condition for participation in the IEO since DRIFE chose not to discriminate investors on the basis of their place of residence.    

Author: Alex Paulson for Crypto-Rating.com

Drife Milestones

* Crypto Rating accepts no liability for any errors in the Drife ICO information and Rating. For the most up-to-date information please visit the ICO's official website.

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1 Bitcoin (BTC) BTC Bitcoin predictions 70% 61 $41 749.04 -0.96% -2.23% $790 453 361 790 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64% 76 $3 107.55 -2.35% -3.81% $370 476 531 837 ETH 7 days price change
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