/ Project Update

DREAM Token Economy

Token Generation Event

Based on validated customer demand for proven freelance teams, DREAM is launching a token sale to expand the ecosystem.

Our Dream? Hire intelligently using AI team building and blockchain verified reputations and payments. Scope, hire, build, and manage projects in one platform. DREAM learns from the outcomes of past projects to build freelance teams with the right skills and fit. Learn more in our whitepaper.

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The DREAM Token Mechanics article discusses the use cases and application of the token within the DREAM Ecosystem.

Sale Overview

The pre-sale will run for 7 days and the token sale will run for 28 days. When a tier is sold out, the smart contract will automatically move to the next tier.

Discount Tiers Throughout the Public Sale:

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Upon receiving ETH funds from the token buyer, DREAM Tokens will be transferred to the buyers wallet based on the funding tier. Within seven days of the token sale completion, DREAM tokens will be unlocked and transfers enabled from buyers wallets.

Allocations

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Vesting Contracts

It is important that the team and advisory board remains committed to the project. A long-term vesting schedule ensures that the team is focused on product delivery and execution.

Tokens are allocated to founders, core team members, and advisors with the vesting contracts detailed below. The founding team will have a 12-month lock-up (cliff) from the completion of the token sale before receiving the first allocation of tokens.

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In the event that a member of the team leaves the project, the vesting contract will be frozen to prevent further release of tokens.

Team Token Distribution

The following graph shows the release of tokens over three years and emphasises the long-term commitment of the team.

For context, following the completion of the token sale and after six months, the entire team may release a maximum of 3.6% of tokens.

graph

Rewards Pools

During the token sale DREAM is operating a Rewards Program to encourage community engagement.

  • Rewards Phase 1: During Token Sale — Comparable to a bounty campaign, however more focussed on long-term growth with a goal of seeding the platform and rewarding future customers.
  • Rewards Phase 2: After Token Sale — Deeply integrated into the ecosystem to encourage client and freelancer engagement, ecosystem growth, and AI training.

Rewards Phase 1: DREAM Token Sale Rewards This will operate up until the end of the public token sale, with a 4% allocation of tokens.

Remaining Allocations

As of June 2018, the remaining allocation of the Rewards Program pool is as follows. Unused tokens will be pushed to the main rewards pool.

Rewards burndown

Rewards Phase 2: DREAM Ecosystem Rewards

This pool is allocated following the token sale. 10% (or 100m) of the total supply of tokens have been allocated.

Token Supply

The model will take into account when the supply has been used up for a given period. Unused tokens from a given period will be rolled over to the next.

The team haven’t decided on what method is best to limit supply and the following graph shows possible models.

Reserves pool 10 year forecast

Supply Shortage

The team has yet to decide on the best way to deal with a supply shortage for a given period, for example; if in July the reward tokens for that month are exhausted. Possible solutions are:

  1. Have a rolled-over reserve pool (assuming that during some early periods the pool will not be used up).
  2. Dilute the pool during the time that tokens are used up period (may frustrate users).
  3. Buy back tokens from the open market as part of our marketing budget (may introduce legal issues).

The value of rewards may be dynamic and market driven.

Guiding Principals

Fundamental to the chosen model is the following:

  • Link the rewards to another currency during the business growth stages.
  • Control the release of tokens to maintain price stability of the token.
  • Support up to ten years of rewards by reducing issuance over time.

Token Attributes & Technical

Whilst there are multiple use cases for the token, there will be one single implementation of DREAM Token.

Token Attributes

  • Token: ERC20
  • Ticker Name / Symbol: DREAM
  • Total Supply: 1,000,000,000
  • Decimals: 18
  • Value of One DREAM: $0.05
  • Fixed Supply: YES
  • Burn Tokens: NO
  • Mint Tokens: NO
  • Royalties: NO
  • Raise in Other Crypto: NO

Token Sale Smart Contracts

The smart contracts have been developed by DREAM’s internal developers Subramanian Venkatesan and Lee Raj, with architectural oversight from DREAM advisor Adam Dossa.

Smart Contracts

The token sale smart contracts can be found in the DREAM Github repository. There are three smart contracts based on the MiniMe contracts.

  • Token — The underlying ERC20 token.
  • TokenSale — Controls the tiers, discounts, and distribution of tokens during the sale and after the sale.
  • MultiSig — Controls the distribution of tokens to advisors and team members according to the vesting contracts.

Technical & Security Audit

A final functional and security audit was completed by DREAM advisor Jorge Rodrigues. Comments from Jorge are as follows:

  • The verification of the smart contract was done in two iterations and completed the full testing.
  • Based on the results of each iteration, the customer’s developers were given recommendations for optimizing the smart contract code to fix bugs and vulnerabilities.
  • Only one critical incidence was found in the smart contract, which was modified and solved. The rest were recommendations of good practices to improve the smart contract.
  • The code is clean, understandable, efficient and optimized.
  • This smart contract complies with the specifications specified in the terms of reference, full testing has shown and does not contain critical code and vulnerability errors.

Disclaimers

Certain statements in this article constitute "forward looking statements" that are used on the beliefs of DREAM and reflect the company’s current expectations. Such statements reflect the views of DREAM at the time the statements are made with respect to future events based on information available at that time, and they are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements. DREAM assume no obligation to update or revise these statements to reflect current information, events or circumstances, including changes in any risks or uncertainties that may impact them

The purpose of this article is to provide prospective purchasers of DREAM tokens with information on DREAM project to allow these prospective purchasers to make their own decision as to whether or not it wishes to proceed to purchase DREAM tokens. This article is not intended to be an offer to sell, or a solicitation of any offer to buy, any security or other financial instrument. The offering of DREAM token has not been registered, qualified, or approved under any securities, futures, financial instruments, capital markets, or exchange control legislation, regulation, or ordinance of any jurisdiction.

The purchase of DREAM tokens is only possible after the prospective purchaser has read, understood and accepted the terms for the DREAM token sale. Each prospective purchaser will be required to acknowledge that they have made an independent decision to purchase the DREAM tokens and that it is not relying, in any manner whatsoever, on the company, its board of directors, or any other person or entity (other than such purchaser’s own advisers).

DREAM Ecosystem

The DREAM platform isn’t just another untested beta program on a white paper… It’s live and being used right now to hire blockchain professionals. The token sale will enable DREAM’s innovative team to take DREAM to the next level by integrating A.I. and incorporating our platform token.

DREAM is positioned to change the way the world freelances and build teams, and we’re excited to watch the DREAM platform shape the market in the coming years. One thing is for sure: A.I. + Crypto + Blockchain + Freelancing = DREAM!

Click here to browse talent, or sign up and list your services.

Click here to learn about our project and read our whitepaper.

Click here to learn more about our DREAM Rewards Campaign.

Telegram: https://t.me/dreamtoken

Twitter: https://twitter.com/DREAM_Ecosystem

Facebook: https://www.facebook.com/dream.token/

LinkedIn: https://www.linkedin.com/company/dream-ac

Google+: https://plus.google.com/+DREAMEcosystem

YouTube: https://www.youtube.com/channel/UCISkXKQ7V2TSb71W-x1B6zA

Reddit: https://www.reddit.com/r/DREAMToken/

Bitcointalk: https://bitcointalk.org/index.php?topic=2956231

Bitcoingarden: https://bitcoingarden.org/forum/index.php?topic=29226

DREAM Token Economy
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