Community Vote — From August 7 until August 14
We understand that there are still investors upset about the token changer decision, and we also realize that DRPU currently has much more supply in circulation than DRPS. Many have pointed out that this would likely lead to a situation where DRPU token holders wouldn’t pass a vote to provide dividends to DRPS holders. This could lead to a stalemate scenario, so we’ve consulted with the community and have three options to propose.
We will be having a vote this week starting Tuesday 9am CEST, so please familiarize yourself with each option below. A summary of the options can be found at the end of the post.
Start: 9am CEST, August 7, 2018
End: 9am CEST, August 14, 2018
Option 1: “DRPS dividends + DRPU rewards”
This option would continue with disabling the token changer between DRPU and DRPS. (Note: DRP to DRPU or DRPS will continue to function). With DRPU unlinked from DRPS, this will allow DRPU to be classified as a utility token and be listed on Bullex at launch. We will also be able to provide a share of the profits for use as payment or reward to DRPU token holders that meet all existing airdrop requirements with the addition of completing a quiz and/or marketing tasks such as sharing on twitter, referring new people or generating content. DRPU would also retain its other utility functions mentioned in the new whitepaper.
As an example, assume there is 100 eth of profit set aside for DRPU airdrops, and token holder “Bob” holds 1% of all eligible DRPU. When he completes the tasks of liking and retweeting the specified tweet from Bullex, he will receive 1 eth (1% of the 100 eth) at the end of the eligibility period. The specific task, or tasks, needed to complete for eligibility has not been completely decided and could require more effort than sharing a tweet.
DRPS token holders would receive their portion of the profits automatically. So, assume token holder “Jim” holds 2% of the total eligible DRPS supply and there is an additional 100 eth of profits for DRPS holders. He would automatically receive 2 eth (2% of the 100 eth) when the profits are distributed. DRPS would not be listed on Bullex at launch.
The portion of profits set aside for DRPS profits and DRPU profits will be balanced so 2 DRPU and 1 DRPS receive the same amount of profit since 1 DRP = 2 DRPU and 1 DRP = 1 DRPS. For example, assume Bullex has 600 eth in profit (after DCORP’s share for operating costs, salaries, etc.) for Q4 2018, there are 4 million eligible DRPU and 1 million eligible DRPS. The total “weight” of DRPU is 2 million and the total “weight” of DRPS is 1 million, so 400 eth are set aside for DRPU airdrops and 200 eth are set aside for DRPS dividends.
It should also be noted that if this method is chosen, profits will not be deposited into the DCORP smart-contract. Instead, it would be distributed directly by DCORP to the token holders similar to how current airdrops are distributed.
Option 2: “DRPS dividends only”
This option will disable the link between DRPU and DRPS like option 1, and profits will go directly to DCORP’s smart contracts. This would make full use of the smart contracts, and DRPU and DRPS token holders would vote on whether dividends to DRPS holders would occur or if all profit would just go to DCORP’s smart contract balance. DRPU would retain its other utility functions mentioned in the new whitepaper and would be listed on Bullex at launch. DRPS would not be listed on Bullex at launch, because it is a security.
For example, assume DCORP has 500 eth (after DCORP’s share for operating costs, salaries, etc.) of profits for Q4 2018, a vote of the token holders passes to share profits as dividends and there are 1 million eligible DRPS at the time of distribution. This would mean that each eligible DRPS would receive 0.0005 eth profit (500 eth/1,000,000 DRPS=0.0005 eth/DRPS) at the time of profit distribution.
Option 3: “DRPU and DRPS linked”
For this option, the ability to swap DRPU for DRPS and DRPS for DRPU will not be disabled. As a result, DRPU would also be considered a security and would not be listed on Bullex at launch but would retain its utility functions. However, this would limit its adoption since it wouldn’t be available on Bullex where it will be used. All other details of this option are identical to Option 2.
Summary
1. Option 1
a. DRPU to DRPS and DRPS to DRPU token changer disabled.
b. DRPU
i. Listed on Bullex at launch
ii. Retains utility functions listed in new whitepaper
iii. Eligible holders receive profit sharing upon completing the specified marketing tasks and/or quizzes
c. DRPS
i. Not listed on Bullex at launch
ii. Eligible holders receive dividends from DCORP’s profits automatically
d. DCORP manages profits and distributes accordingly.
e. Profits are split between eligible DRPU and DRPS so that 2 DRPU and 1 DRPS would receive equal amounts of eth when distributed.
2. Option 2
a. DRPU to DRPS and DRPS to DRPU token changer disabled.
b. DRPU
i. Listed on Bullex at launch
ii. Retains utility functions listed in new whitepaper
c. DRPS
i. Not listed on Bullex at launch
ii. If a dividend vote passes, eligible holders receive dividends from DCORP’s profits automatically from DCORP’s smart contract
d. If a dividend vote doesn’t pass, DCORP’s profit (after DCORP’s share for operating costs, salaries, etc.) will go to DCORP’s smart contract balance and will increase over time. This can be used for future proposals.
3. Option 3
a. DRPU to DRPS and DRPS to DRPU token changer remains enabled
b. DRPU
i. Not Listed on Bullex at launch
ii. Retains utility functions listed in new whitepaper
c. DRPS
i. Not listed on Bullex at launch
ii. If a dividend vote passes, eligible holders receive dividends from DCORP’s profits automatically from DCORP’s smart contract
d. If a dividend vote doesn’t pass, DCORP’s profit (after DCORP’s share for operating costs, salaries, etc.) will go to DCORP’s smart contract balance and will increase over time. This can be used for future proposals
