Hello DAPSX community,
As many of you are aware, lately we have had part of our focus geared towards exposing the DAPS scam. Currently we can inform you that in fact The DAPS scam perpetrators are still in our crosshairs, and this pursuit will continue as we deliver more information regarding that matter.
However, we would like to pivot for a moment and use this post to spread the word of DAPSX coin, our current position, where are we are going, and to reveal the DAPSX technical specs.
Who is behind DAPSX, NotBreck?
Notbreck is an entity, a nonexistent individual formed by many people. Notbreck embodies the desires of the original vision of the DAPSX CORE.
DAPSX CORE in its current state is comprised of:
-DAPSX Project Manager
-DAPSX Marketing
-DAPSX Content Creator
-DAPSX Designer
-DAPSX Mod
-DAPSX Dev
-DAPSX Senior
How does it work?
Same as with any startup, every section i.e.:
-Marketing
-Content creation
-Designers team, etc.
Each position in the DAPSX CORE has at least one person working on the given tasks and goals. One individual is in charge of their respective area, that person has a chair on the DAPSX CORE.
As of now each category only has one person, but we will add more as we progress.
Voting System
Each DAPSX CORE has a vote, meaning if a suggestion comes, each person will have a vote to determine the road we will take.
However, the DAPSX Project Manager, has 2 votes. This is due to their involvement in all areas of the DAPSX project. If the case were to arise with a result of even votes on a matter, the last vote would come from the Project Manager to give the final decision. This also serves to allow a continuum of direction and overall consistency.
If the Project Manager doesn’t fulfill the needs of the community and the CORE, then the same votes will be used to replace that person, same applies to all roles.
One example comes from a recent issue we had, our content creation manager arranged a meeting with Larry & Joe to be on their show, but decided not to be on it one hour before the show. This was 3 weeks after accepting their invitation. As a result, a vote was made and that person got demoted.
So in essence, NotBreck is every person who collaborates to work with DAPSX. Notbreck is a manifestation of the vision of the core and serves both stakeholders and core team.
Do you guys have a Roadmap?
Yes, indeed. We have plans for each quarter, even though they might change from time to time due to the community and CORE votes.
What happened to the Lite paper and the 2nd Exchange?
We’ve had a talk about these two missing things and we decided to add these to Q4 2018.
The Lite paper was supposed to be a one pager lite paper, but after looking at the roadmap, we made the decision that there was no need and we committed to change our focus to the following:
-A Whitepaper with all the specs and detailed information.
-A Lite paper containing a brief introduction for every investor to read (to come in Q1).
The second Exchange
After a suggestion from the community, we had a talk with CREX24 coin listing support. We were ready to go for listing, but after looking at the extra fees for the upcoming swap and since we don’t need a new exchange for now, we decided to stop the application.
Why?
A new exchange listing for an ERC20 token is more expensive than for a BTC fork.
The cost for token integration are 0.5 BTC and 0.1 BTC for a new pairing plus 0.25 BTC for the swap integration, a total of 0.85 BTC.
Instead we can wait a bit longer and go straight forward with our mainnet and pay only around 0.4 BTC (If the community still opts for CREX24) which is a more cost effective solution compared to the ERC20 token route.
Will there be a coin burn?
Absolutely. As announced earlier on our roadmap, DAPSX will indeed have a coin burn.
After a market analysis, we concluded that a big supply is not needed and in fact could work against us if not handled well.
DAPSX current supply is 30B, meaning that we will burn the remaining tokens in order to get to 7.5B as our total supply once our mainnet is released.
How will the distribution be allocated?
As explained above, we have planned different core positions in the DAPSX team. Each of them will have people in charge, this would create a more decentralized environment.
We believe that every job should be compensated. This means that each person who signs up to help us would get DAPSX in return, but would also be under contract for the two phases we have planned:
- Phase 1: Creation of DAPSX
- Phase 2: Rebrand and new roads.
For both Phase 1 and Phase 2 we have a dedicated list to fill, which may vary according to what we as DAPSX will need. Essentially this list is not set in stone, but currently it is as follows:
Main Fund
- Project Manager: 2 People
- Marketing Team: 4 People
- Content Creation: 4 People
- Public Relationships: 1 Person
- Graphic Designer: 4 People
- Tech Support: 4 People
- Researcher: 2 People
- Chart analyzer: 2 People
- Web development: 2 People
- CORE Team: 5 People (To be increased)
- Moderators: 16 People.
Other Fund
- Advertisement Campaigns
- Phase 2 Development Fund
Current Team
As of now we currently have:
- 1 Project Manager
- 1 Marketing Specialist
- 1 Dev
- 2 Moderators
- 1 Web developer
- 1 Graphic designer
But our aim is to have enough funds to cover all the mentioned above.
Here is a detailed Pie Chart to indicate where the funds would go to:
Even though the pie chart marks different fund percentages to use for the different areas, it should be taken under consideration that if not all roles are filled, those coins won’t be distributed. This will result in more stakes for the community to use and more locked coins in the Dev Fund without use for some time.
All these balances can be easily verified using our block explorer, so everyone can go and take a look once it is online.
As we mentioned before, ultimately nothing is set in stone and it is up to the community to voice ideas and alternatives, to vote and to make some changes if they see fit.
Finances
Regarding finances: so far we have BTC addresses, ETH addresses and DAPSX addresses. These are our ledgers. Our ledgers we will be shared with the community to ensure a layer of transparency.
Interested parties can see and track every movement, how many DAPSX we withdraw, how many BTC we have and how we spend it, it will all be clarified in different quarters.
We expect to have a financial statement by the end of the first quarter for everyone to see. We want to create an environment where you trust us on the fact we won’t take anything that is not ours.
We will also provide you with the tools to audit the project yourself to verify and clarify all transactions related to the DAPSX project. DAPSX is not our project, it’s a community project, we cannot take what belongs to the community, you.
*Regarding the community supply and how to move forward: this will be decided by the community and core through a consensus vote.
Without further ado, here are the DAPSX SPECS:
DAPSX SPECS
Consensus Mechanism: Proof-of-Stake (PIVX)
Hashing Algorithm: Quark (PoW)
Block verification: PoS/MN
Block size: 2 MB = 2097152 Bytes
Block time: 60 Seconds
Block reward: 14269.40 DAPSX (The first year)
Block reward split: 9512.93 DAPSX MN, 4756.46 DAPSX PoS
Founder Fee per block: None.
Initial coin supply: 7,500,000,000 DAPSX
Yearly Emissions (Year 1): 7,500,000,000 DAPSX
Daily Emissions (Year 1): 20,547,945,20 DAPSX
*The rewards get halved each year from the previous total supply, all in order to reduce inflation. More explained in the chart below.
Years of emissions: 10 years
Total block emissions limit: 28,228,562,901.37 DAPSX + Initial Coin Supply.
Annual inflation: 100% First year, 50% Second year with a decrease of half from the previous supply, each year.
Masternode collateral: 12,500,000 DAPSX
Multinodes: More than 1 masternode per instance.
ROI REWARDS
As you can see our rewards are different than others, its scalable.
Stakes and Masternodes together produce 100% of the Initial supply the first Year, of which 2/3 goes to Masternodes and 1/3 goes to Stakes.
They get a decrease by half each year, meaning the second year the rewards would be 50% of the previous supply (15B), 25% the Third year and so on for 10 years consecutive until we reach a maximum of 35,728,562,901.37 DAPSX.
Here is a detailed table.
What does it mean?
It means that the first year our supply would be less than Verge XVG, the second year we would be less than many other coins on the market and even by year 10 we would be less than half the supply of DAPS token (due to their inflation).
But 10 years is a long road and we would most likely change the code by then (as explained in the roadmap). This means we will always find a way to be more appealing than other projects.
DAPSX Masternode Collateral
To make it better for the investors the masternode collateral will be 12.5m. The rewards will be 2/3 for masternodes.
Masternode rewards chart
User oriented chart
The less masternodes, the more rewards investors will get, the more masternodes, the less rewards.
*The charts above are for educational purposes only, and can vary base on the amount of masternodes online during each year.
What about PoS, is it obsolete?
No, they will get 1/3 of the supply (the first year), will go to anyone who stakes their coins, meaning that at some point they would be able to run a masternode. The less coins in the wallet, the more rewards they get, basically anyone who joins now will benefit from it more.
When will the mainnet be complete?
The mainnet is close to completion. Our dev is currently adding new features to the wallet to make it more visually appealing. It is slated for completion before the end of Q1 2019. We estimate that this will be the time of launch.
The mainnet itself could take less time than that, but we are rewriting some code as we said before to make it visually more appealing to everyone.
What makes DAPSX better than DAPS?
If all the information above wasn’t enough, we will give you a brief resume on why we know we are better than DAPS.
We are a decentralized team. DAPS however, is centralized by the Founder and Co-founder.
They decide where the tokens go to, what they are spent on, and worse than that, they never show any ledger, they haven’t spoken about their PCN dump and don’t want to make their wallets public. DAPSX will have the ledgers open to the community.
The same goes for the votes: everyone will have a voice. In DAPSX everyone has an opinion, everyone collaborates. We have not stolen anything from anyone as other coins have. We are doing everything just as the community has asked.
Regarding specs and supply
DAPS currently has 60B supply but after their transition to their mainnet, they will go to a max supply of 70B over the lapse of the years, that itself is a big supply as of now.
Even though their supply is large, the rewards for each wallet aren’t, every block has 1050 DAPS, meaning that this would get divided among all the wallets online, which leaves it non profitable for the investor and the only value they would have would be as a store of value.
The Proof of Audit represents zero value to the investor, proof of audit and Harpocrates protocol functions are meant to hide transactions by using a private sent function (a privacy function could be easily implemented using the PIVX Zerocoin Protocol instead). They are apparently a new technology and brand new algorithm (that is yet to be seen, as it's just a vague idea as of now).
What does it give to the investor? It just hides the transactions made from user to user, something that in our own point of view would only benefit the current owners of DAPS by being able to keep doing what they have been doing (Read :Looking trough DAPS Scam https://steemit.com/dapsx/@dapsx/disclosing-daps-token-scam-scheme ), but this time without having the block explorer data to keep track of transactions.
Essentially DAPS are making the coin vulnerable to money laundering schemes and scams, something authorities wouldn’t allow to happen and it could be followed by institutions such as SEC in the U.S, ASIC in Australia and many others in their respective countries.
For example some recent news about kidnapping crimes using Monero as a way of payment have brought the issue with privacy coins to the court.
‘’ A branch of the United States Department of Homeland Security had already set its sights on Monero and the privacy coins, and may be working to develop tools to trace transactions on the blockchains of privacy coins. Should additional cases arise with such high profile individuals, privacy coins will eventually gain more notoriety and may eventually become banned elsewhere across the globe’’
Meaning, authorities could in the near future examine any coin that could represent a risk to society. This could potentially lead to you being deprived of your tokens followed by a loss of its value.
If they would decide to change roads and add a bigger ROI (return on investment) to their code, it would mean that their coin would hit numbers above 120B just the first year alone, such inflation if not controlled would end in a catastrophe and nothing makes sure that the price would be steady, making it vulnerable to go sub-Satoshi.
DAPS as mentioned before has no ledgers to be able to see the distribution and use of their tokens, and based on their Code of Governance it gives total authority to the project manager and co-founder to do as they please with the tokens, without a community vote.
DAPS mainnet development has been in works since Q1 2018 and got started in Q4 2018 with promises to be released on Q1 2019 and then moved to Q2 2019, that itself shows lack of professionalism.
There are more reasons why their algorithm and concept are not compared to ours but we won't go into that any longer in this post.
On the other hand,
DAPSX
DAPSX mainnet as mentioned before has an initial supply of 7.5B, with a controlled inflation making it not go beyond 15B the first year and 22.5B the second year (reduced by half each consecutive year) it gives us a max supply of 35B over the lapse of 10 Years, that itself shows that at starting point we have a lower supply than many other coins on the market with more monetary value than us, and also that after the lapse of 10 years as we reach our max supply we would still have a lower supply than DAPS token.
We don’t claim to have a brand new algorithm (as of now, please read roadmap Q3 2019), as it is not needed. We believe that building a strong community, giving a proper use case and exposure is better than hiding the records of our blockchain. We believe that the money could be better used for implementations on the chain along with marketing strategies.
DAPSX mainnet is approaching as we speak. You definitely won’t have to wait for promises of completion on Q2 or Q3.
More information on why DAPSX is better than DAPS can be found above by looking at our specs, our mission and vision, but we think this information is enough to give a brief look at what we have done so far and where we are heading.
Regardless, everyone is entitled to their opinion and we respect that.
For the DAPSX team our community is everything, and we want to stick to that. We will keep updating when the time comes.
If you desire to obtain DAPSX, you can do it following the link bellow
https://www.coinexchange.io/market/DAPSX/ETH
For now, thanks for your time and happy 2019 !!!
Sincerely,
The DAPSX team.