|Soft Cap||None. The platform is market ready.|
|Hard Cap||10 million USD|
|Minimum Contribution||0.2 ETH|
|Total Supply||20 million DAP tokens|
|Early contributor start date||Live now|
|Pre-ICO start date||August 1st, 2018|
|ICO start date||September 1st, 2018|
DAP token prices
|ICO phase 1||$0.5||10,000,000||17%|
|ICO phase 2||$0.6||7,750,000||-|
Unsold tokens will be automatically deposited to an Impact Fund smart contract where, until November 1st 2020, Impact investors can purchase a minimum of $50,000 of tokens at ICO prices with 2-5 year lock in. Any tokens that remain will then be added to DAP's ACT Fund where DAP's token community can vote on proposals for their use.
The private pre-sale stage is for friends of the ACT Foundation and partner-by-partner deals
Curators and journalists can start earning real Ethereum using the pilot DAP, and contributing to platform development.
Public pre-ICO live with a partner ICO platform.
ICO live together with Alpha version of the DAP pilot
The DAP pilot will be deployed on the Ethereum mainnet
The ACT Foundation will commence supporting new DAPs financially
Many DAPs live
First new DAPs created and managed by others will be deployed
+ When is the ICO?
Our roadmap states July 2018, but we are in no hurry. We will engage with as much of the blockchain community as possible prior to launch including to work with founder investors who are interested in transforming the Press.
+ What does "Fork DAP" mean?
There will be many DAPs that all use the decentralized curation engine. The ACT Foundation will support new DAPs that need financial support to get started. DAPs herald a new era for the Press.
+ What is DAP token?
DAP token is an Ethereum crypto token, which because of its function is called a utility token. A limited number of these are created by a software program ("smart contract") during a "token generation event". The token cannot be counterfieted, and no more can be created. Therefore, it securely represents the DAP system's value.
Curators who earn rewards for their work have to stake DAP in order to access the "curation engine" where journalist's work is first submitted. This requirement ensures that these key participants in the system are stakeholders with a vested interest in platform integrity and success. There are many other ways that DAP tokens help secure the decentralized platform against attack vectors.
+ What does DAP stand for?
“DAP” stands for Decentralized Autonomous Press. A DAO or Decentralized Autonomous Organisation is able to function without a centralized companies control. It functions autonomously, and is an ultimate expression of sensorship resistance.
+ What role do journalists have?
Journalists are autonomously remunerated from the DAP’s revenue, which is stored on its smart contract. The DAP’s founders will typically have allocated a percentage of this revenue for themselves and content providers at setup. Editors and readers curate journalist’s submissions as part of a decentralized process that determines if the fee sought by the journalist should be paid, and in the event that the DAP smart contract does not have enough funds, who should get what portion. There is a nominal submission fee which is purchasing power parity adjusted and used to pay curators.
+ What role do editors have?
Editors stake DAP tokens to gain rewards for their curation efforts. In the curation engine they are presented with randomized submissions. They can like the video or written content, flag it, comment on it, or like others comments. The curation engine’s algorithms determine which curators have the highest reputation. This evaluation together with how many DAP tokens are staked determines their reward. All submission fees paid by journalists are distributed amongst curators. All submissions spend 24 hours in curation.
DAP tokens are ERC20 access and reward utility tokens. The curation engine is not freely accessible, and the tokens provide a solution that ensures that a stake holding reflects platform users commitment to the integrity and success of DAP.
+ How does it work for readers?
Readers have two options; they can simply read each DAP’s content online once published, or they can see content as soon as it has passed from curation to the voting dapp. This dapp’s smart contracts are connected to the curator platform. “Yes” or “no” votes are part of the validation process that the content has the value that the journalist has requested. Readers can select which DAP they wish to see content for and will be presented with one story at a time. They can see the next story once they vote “yes” or “no” confirming if they think that the content’s producer should be paid what they are seeking for the content or not. The targeted DAP will automatically pay the journalist the requested fee depending on these results. All submissions spend 24 hours being voted on in our dapp.
By implementing this dual constituency system, the DAP curation process is able to assign reputation and reward to curators. DAP tokens are another instrument that enables behavioural incentives and resistance to attack vectors.