Announcing the DAPP Network
LiquidApps’ mission is to promote the adoption of decentralized applications (dApps) at scale by introducing a new ecosystem that aims to make developing on blockchains substantially easier & more affordable.
We are proud to announce that next Tuesday, Feb 26, 2019, 1551196800 Epoch time, LiquidApps will officially launch the DAPP Network, a new layer for dApp developers on the EOS Mainnet. The DAPP Network will be focused on scaling blockchain applications by equipping developers with the necessary tools, resources, & services needed to build dApps effectively and affordably.
The first product in the DAPP Network is vRAM — an alternative and complementary storage solution for EOS dApp developers that was built to address two core issues: RAM resource constraints and high RAM prices.
vRAM will be available to developers on Tuesday, Feb 26th through dApp Service Providers (DSPs), a new class of blockchain vendors that offer service packages to dApp developers while maintaining complete autonomy over their prices, scope of offerings and technical specs. By creating a marketplace of independent operators, the DAPP Network gives diverse players the opportunity to help contribute to and expand the EOS ecosystem.
Next week LiquidApps will officially launch the DAPP Network and, with it, a set of tools to help developers build more scalable dApps — including the vRAM System. But when it comes to making decentralized applications, or dApps, an essential part of everyday life, the real power lies in the hands of developers within the DAPP Network. The innovation, imagination, & creativity of users and developers will be the lifeblood of the DAPP Network, and we at LiquidApps can’t wait to see where the community will take it from here, to scalability and beyond.
Joining the DAPP Network
The DAPP Network has the potential to revolutionize dApp development, and we’re eager for you to join this new ecosystem of technologists, entrepreneurs, products, & resources.
The key to joining the DAPP Network is via the DAPP Token, a utility token that enables developers to gain access to the tools and services provided by DSPs in the DAPP Network.
DAPP Token Generation: Overview
DAPP token will be distributed over a 333 day Token Generation, through two unique independent purchase tracks — the Instant Registration Track and the Regular Registration Track.
The DAPP Generation will be ongoing for 444 consecutive cycles, each lasting 18 hours and generating an equal amount of DAPP tokens. The two tracks run in parallel and generate the same amount of DAPP tokens, however, they are independent and operate via separate Vendor Smart Contracts. Participants can choose to send funds to either (or both) of the tracks during any of the cycles throughout their duration. At the end of the cycle, each track’s Vendor Smart Contract distributes the DAPP tokens to the purchasers of that specific cycle, in a pro-rata amount relative to the funds sent.
We believe that the duration of the DAPP Generation and its dual tracks will help contribute to the widespread distribution of DAPP tokens throughout the community.
Instant Registration Track
An EOS account is all you need in order to participate in the Instant Registration Track. Simply send EOS to the Instant Registration Track Vendor Smart Contract and you will automatically receive your DAPP tokens at the end of the current cycle.
Update 15 June 2019: in light of regulatory developments, new updates were introduced in the Instant Registration Track of the DAPP Generation Event: Participants will be asked to confirm they are transacting with the Instant Registration Track Smart Contract — using only one account in each cycle; Each participant may purchase DAPPs up to a limit of $7,000 in each cycle; A account screening and approval process will be conducted on the accounts participating in the Instant Registration Track. The process will be managed and performed by a third party, based on criteria set under industry standards. According to the outcome of the process, an account may be unable to continue participating in the Instant Registration Track; and finally, each unique account will be allowed to purchase DAPPs up to a total of $100,000 in all remaining cycles. We value the DAPP Network’s community members and effort to provide them a seamless user experience. Should you have any questions regarding the changes in the Instant Registration Track, or any other issue, feel free to contact us in LiquidApps Telegram group.
Regular Registration Track
The Regular Registration Track provides flexibility in purchasing DAPP tokens. You can use EOS tokens for any desired purchase amount. For amounts exceeding 15,000 Swiss Franc (CHF) you may also purchase with ETH, BTC or Fiat. If you wish to participate in the DAPP Generation Event through the Regular Registration Track, you must complete a KYC (Know Your Customer) verification process, facilitated by Altcoinomy, a Swiss-based licensed KYC operator.
DAPP Token Generation: By the Numbers
During the entire DAPP Generation Event, a total of 1,000,000,000 DAPP tokens will be generated. Out of the entire supply, the Vendor Smart Contracts will generate and distribute a total amount of 500,000,000 DAPP tokens (50% of the total supply, 25% of the total supply in each track). During each cycle, each Vendor Smart Contract will generate 563,063.0630 DAPP tokens. At the end of each cycle, each Vendor Smart Contract will distribute those DAPP tokens among that cycle’s participants, pro-rata relative to the amount of EOS sent by each purchaser in that cycle.
For example, Alice sends 10 EOS to the Instant Registration Track Vendor Smart Contract. At the end of that particular cycle, a total of 100 EOS were transferred to the Instant Track. Alice will receive 10% of the total 563,063 DAPP tokens, which amounts to 56,306.3 DAPP tokens.
DAPP Token Inflation Mechanism
DAPP token has inherent inflation on a block-by-block basis. The DAPP Network DSPs will be able to claim these new DAPP tokens in proportion to the amount of DAPP tokens staked to their service packages (by DAPP token holders, such as developers), relative to the total amount of staked DAPP tokens to all DSPs.
After receiving thoughtful feedback from the EOS community, the initial annualized inflation rate is set to 2.71% (also paying tribute to Leonhard Euler & his e constant). The inflation rate may be updated from time to time within the range of 1%-5% by the community. We believe that a dynamic inflation schedule is important for the DAPP Network to consistently evolve to meet the changing needs of the ecosystem and its participants.
Integrity is Our Priority
Blockchain technology has the potential to enable a more free and fair economy to emerge by introducing an unprecedented level of transparency and accountability to markets. At LiquidApps, we are firm proponents of the free market ethos. Maintaining the integrity of the DAPP Generation Event is of the utmost importance to us, and, as such, LiquidApps herby commits to abstaining from participation in the DAPP Token Generation Event.
We look forward to seeing the DAPP Network fuel a new era of dApp development, allowing society to benefit from usable, scalable and decentralized applications. Visit our website to find out more about LiquidApps, the DAPP Network and how to participate in the DAPP Generation Event.