Explaining User-Roles in a DDD-Token-based Funding Ecosystem
Decentralized DropDeck Token
DropDeck works because, throughout the entirety of the platform, we will be constantly growing and improving due to our active user base. The participation of our community is crucial for the A.I. applications and Blockchain technology to achieve maximum utility. This community can be substantiated by centering the actions of everybody around a cryptocurrency token; this will be the standard by which collaboration and transaction can participate on the same field.
The unifying force at DropDeck is the Decentralized DropDeck (DDD) Token. Through all of the various users and processes like the participants for lending, participants for contributions, and the entirety of the funding process.
To realize how the DDD Token bridges the actions taken by all user roles, consider that there are only two methods of participation: Contributing, and Lending. We will assign user roles based on the two methods of participation and make sure each user role has self-sufficient mechanisms to guide its quality. The only thing missing is a token of currency by which users can exchange the services that guide the quality. Participants get rewarded by more tokens when the services they provide meet or exceed the expectations of the community.
The primary difference between Contributing DDD Tokens and Lending DDD Tokens is the reason why the company is seeking funds. If the company is seeking funds for a specific purpose, needs the money quickly, is seeking larger amounts, or is desiring a loan-structure for repayment, then they will be likely Lending DDD Tokens. If a company is seeking funds to startup, develop a more generalized technology, or is looking for the more typical “crowdfund” type experience, usually with the intentions to be innovative and fresh, then it is likely they will be seeking funds from those who Contribute DDD Tokens.
The image below demonstrates some of the primary types of users and their roles.
Contributing DDD Tokens
A Contributor is a funder who wants to provide support to an innovative startup. Contributors are the backbone to any level investment platform and provide much of the collaborations that will take place among the community members. They will use their DDD Tokens to invest into potential startups that have an adequate trust value. Informed contributors may also evaluate and be allotted an amount to a pot that is a reserve value for successful evaluations.
Companies and Hunters work together to create a deck. When the Company has a Deck, they can use it to begin raising funds depending on how the Deck is established. Companies that successfully campaign and demonstrate their abilities will be trusted and will receive funds from contributors.
Hunters seek out companies that are soon to be raising funds and help them develop their very own Deck. Hunters are motivated to conduct good assessments of companies in terms of their viability on the platform; they should be able to gauge whether or not the company is likely to get the information necessary to achieve an adequate Trust Score. Hunters will receive a share of all pot money for a period of time and benefit most when the company meets its mark.
As Contributors are the backbone for the growth of the company, the Evaluators are the pillar of the Trust Score evaluation mechanism for the company. Using their own information along with the information provided by other collaborators and Hunters, they can develop assessments where Contributors can benefit from their expertise and knowledge. Evaluators are users who are also highly incentivized to provide good information, and they will have their own personal Trust Score based on their prior evaluations.
A Referrer is a Hunter who either does not have the permission, or who does not have sufficient information to publish a deck. However, Referrers can refer a company amongst their peers and other collaborators can work together to further develop the company’s potential deck’s applicability.
A Delegator is a professional or a third-party company that is local to the Company seeking funds from contributors. The Delegator will be responsible to submit legal proposals that are designed to provide increased trust between the Contributors and the Recipients. They are also the designated party to handle legal processes for all involved. They uphold delinquency and they are authorized to make sure the Recipient pays out the proper amount. They are incentivized to make sure both parties have their best interests met and are thus also highly incentivized roles.
Lending DDD Tokens
A Lender is a funder who loans DDD tokens to Companies usually with different expectations than a contributor in so far that their desire is to typically benefit from meeting the terms of a mature loan with respect to a contributor looking to see growth in the token-value. Lenders are usually funding with larger allotments and are providing quicker access to the funds. Apart from that, the functions are quite similar to the Contributors in that they help fund the Company.
The Company or Recipient that needs funding for growth. The differentiating factor between a Borrower and the Contribution Recipient (in the section listed above) is that the Borrower is usually providing a more specific goal that may have less risk to the lenders. Borrowers may also have more specific terms in mind as to the kinds of loans willing to be received.
Backers are users that have a non-trivial index on their Trust Score that mark them as trustworthy users. These users also serve a requirement that they have a positive balance of DDD tokens and can offer tokens to serve as collateral for the Company seeking loans from Lenders.
Evaluators in the Lending process is the same as in the Contributing process.
Insurers are simply professionals or third-party companies that are willing to insure the Loan by the Recipient to the Lender. Delegators may assume this role and so an Insurer, at times, may be a redundant role. However, if a Company wants to separate responsibilities for whatever reason between two roles, they are free to do so.
Collectors are professionals or third-party companies that specialize in the collection and repayment of debts. Since they will be using DropDeck’s blockchain technology, they will have the best data at their disposal so that their efficiency is maximized. Collectors are also providing a positive effect to the Trust Score so that Lenders have increased confidence.
Delegators in the Lending Process are the same as the Contributing Process with the exception that they can also assume the role of the Insurer for the Lending Process only.
This should outline the primary user roles, their functions, and their responsibilities. For a deeper look into how each of the user roles are incentivized to improve results and how that betters the DropDeck ecosystem, we will provide a link here to our “Incentivizing Users” article.
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