Launch of DREP Insurance Scheme Announcement
Dear DREP community,
As we head towards the start of 4Q 2019, the DREP team has achieved good progress in product development. This comprised of DREP Pre-Mainnet’s successful launch, DREP Client Interface which includes the Mobile Wallet, and DREP Mining, the first game to be developed via the DREP SDK.
On the business development front, DREP was among the first to be selected by Gate.io, for its HODL & Earn platform. The project also recently announced an in-depth strategic cooperation with Bijiaqi, a China-based gaming unicorn that is widely recognized for its game trading asset platform. More partnerships with reputable firms in the sphere of Internet Games and DeFI are in the pipeline and will be announced at appropriate timings.
After much careful consideration, the team has decided to launch the DREP Insurance Scheme. The main purpose of the Scheme is to optimise circulating token supply for the network to function at ideal capacities via token supply management.
The structure of the Scheme will consist of:
1. The last tranche of tokens that was initially planned to be distributed on 10th October 2019 will be transferred directly to the DREP Mainnet platform. This means that the tokens will only be distributed officially after the Mainnet launch.
2. To increase deflation, DREP Foundation will contribute and lock 100 million DREP tokens in the Insurance Scheme. These tokens are considered to be permanently removed from the circulating supply.
The team will also launch buyback programs after the Mainnet launch, so as to incentivise the support from our early contributors so far.
3. Please note that there will not be any vesting schedule changes unless otherwise specified. There will not be any added circulation of DREP until the Mainnet launch.
DREP has been focusing on increasing the user base and adoption rate. The DREP Insurance Scheme is envisioned to be a long-term stability initiative complementary to our existing efforts. We will continue to work relentlessly to fulfil DREP’s potential in the Blockchain Industry and meet the expectations of all our stakeholders.
About DREP Foundation
DREP is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID and DREP SDK, DApp R&D teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click.
Reach us on social channels
Website — www.drep.org
Telegram — https://t.me/drep_foundation
Twitter — https://twitter.com/FoundationDrep
Reddit — www.reddit.com/user/DREP-FOUNDATION/
Medium — medium.com/@DREP_Foundation
Linkedln — www.linkedin.com/company/drep-foundation/
