Pre-Sale contribution address:
1 ETH = 5000 DAP
- Contributions over $4000 USD require KYC. Please use this form;
- Send ETH from an ERC20 compatible wallet (not an exchange);
- DAP tokens will be minted and sent before ICO Part I commences, and transferable at the close of ICO Part II
|Soft Cap||None. The platform is market ready.|
|Total Hard Cap||10 million USD|
|Minimum Contribution||0.02 ETH|
|Total Supply||20 million DAP tokens|
|KYC||KYC is required for contributions over $4000|
|Distribution||Our ICO smart contract allows minting of tokens up to the pre-sale cap prior to the start of ICO Part I. You will receive non transferable DAP once payment and KYC (if needed) are complete.|
|Exclusions||USA friends can participate with KYC. We will refund the contribution if advised that our SEC compliance efforts don't succeed.|
|Exchanges||ICO Part II will be a countdown to high liquidity exchange listings. The ICO smart contract allows ACT Foundation to draw down $1million from ICO Part I for exchange listing costs.|
|Pricing||The contract owner sets DAP's USD price (detailed below) in ETH at the commencement of each sale phase.|
DAP ICO details
|Pre-Sale||1ETH = 5000 DAP (approx $0.1)||2,500,000||90%||$250,000||Live now|
|ICO Part I||$0.5||4,000,000||50%||$2,000,000 (soft cap)||November 2018|
|ICO Part II||$1||7,750,000||N/A||$7,750,000 ($10million altogether)||January 2019|
The ICO smart contract sends unsold DAP tokens at each stage to a vesting contract that allows investors to buy a minimum of $50,000 tokens at ICO prices with a multi-year year lock in. Unsold tokens from the pre-sale are locked for three years, from ICO Part I for two years, and those from ICO Part II for one year. The reason for this is to allow us more time to help impact investors new to tokens to get onboard with longterm commitments. Any remaining DAP will be added to a DAP ACT Fund where DAP's token community will vote on proposals for their use.
At "peak ICO" we aim to have a team of 20 and publish their details here. For now, we admit we are more Pied Piper than Hooli.
For a list of current opportunities click here.
Ian Cunningham, Operations Advisor
We are thinking long and hard about "advisors". Three top 20 ICO Bench advisors have offered their services to DAP. We are considering their proposals, and how best to structure the advisory role in general.
The pre-sale stage offers a 90% discount. Thank you for being part of DAP.
Curators and journalists can start earning real Ethereum using the pilot DAP, and contributing to platform development.
DAP Alpha 0.1 release
ICO Part I
ICO Part I live. DAP distributed to pre-sale participants
DAP Beta will be deployed on the Ethereum Test Network
The ACT Foundation will commence supporting new DAPs financially
ICO Part II
DAP ICO Part II will launch with a "countdown" to high liquidity exchange listings.
DAP on exchanges
DAP tokens will be transferrable. $1,000,000 of ICO Part II funds will be allocated to exchange listing fees.
+ 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.