Be a part of history with the pilot staking program that lays the foundation for DRIFE’s entire franchise staking ecosystem.

Get ready for an unparalleled opportunity in the world of decentralized ride-hailing! DRIFE presents its first-ever franchise staking program — DRIFE Bangalore Franchise Staking. This unique pilot staking initiative holds immense value as the cornerstone for the entire DRIFE franchise staking program. As a participant, you’ll not only earn rewards and governance privileges but also play an essential role in shaping the future of DRIFE’s decentralized operations.

Introducing DRIFE Bangalore staking for DRF holders!
The staking pool is 150 million DRF, with a minimum stake of 100,000 DRF and a maximum of 5 million DRF per wallet. Open for 30 days, tokens will be locked for 3 years, aligning with franchise agreement renewals. Enjoy quarterly DRF rewards determined by Council Member voting. Partial early unstaking begins after 6 months.

In this blog post, we’ll walk you through the staking process and highlight the key aspects of this innovative program.

Staking Process

The staking process will be as follows:

Council NFT Holder Priority:

In the first 24 hours of staking, 50% of the staking pool will be reserved for Council NFT holders. This means that only 50% of the staking will be allowed in the first 24 hours, ensuring that NFT holders have the advantage to stake first, but are not unduly exploiting the priority they reserve. There will be a limit to Nr. of DRFs an NFT wallet can stake as well.

Staking:

After the first 24 hours, staking will be open to all DRF holders. DRF holders can delegate their DRF for a Franchise and start earning rewards.

Locking:

The tokens are staked for a tenure of 3 years, with proportional early withdrawal starting after 6 months.

Rewards:

The DRIFE Bangalore team will add DRF rewards every quarter. These rewards are determined through a voting process by the Council members, who will have the flexibility to choose from various reward types such as revenue-based rewards, algorithmic rewards, or inflationary rewards. The APY (Annual Percentage Yield) will be calculated by taking a weighted average of the chosen reward types, and the Council will have the authority to vote on the distribution of rewards. This approach ensures a fair and transparent process for the distribution of rewards.

Check APY Calculator here

APY Calculator

Benchmark Revenue Share %

DRIFE will dedicate a benchmark of 2.5% of revenue towards the Bangalore Franchise Staking. The final staking reward (APY) is decided upon by the DRIFE Council members via voting. The Council may also choose to vote on delegating a certain percentage of the revenue benchmark to burn DRF.

Unstaking:

After a period of 6 months, users are permitted to unstake a proportional amount of their token (early-unstaking). The amount permitted for early-unstaking is proportional to the number of weeks that have already been staked.

Early Unstaking is subject to a fee of 10% of the unstaked token. The unstaking fee will be directed towards the healthy maintenance of the DRF ecosystem in form of token burning.

For example, if a user wants to unstake their tokens starting from the 24th week, they will be able to withdraw a maximum of 15% of their total stake. The 10% unstaking fee on that amount ensures that users are incentivized to hold their tokens for a longer period, and also helps to maintain the stability of the DRF ecosystem.

Example:

For detailed weekly view, please refer to:

DRF Early Franchise Unstaking

Staking Limits

The staking limits are as follows:

Pool Size: 150,000,000 DRF

Minimum staking amount: 100,000 DRF

Maximum staking amount per wallet: 5,000,000 DRF

NFT Holders (24h priority access)

Priority Pool Size: 75,000,000DRF

Minimum staking amount: 500,000 DRF

Maximum staking amount per wallet: 10,000,000 DRF

The DRF Franchise staking program presents a unique opportunity for DRF holders to earn attractive APY by delegating their DRF tokens to a Franchise. This enables them to participate in Franchise operations and play a role in governance. The staking window is open for 30 days, and all staked tokens will be locked for a 3-year tenure.

To sweeten the deal, the DRIFE Bangalore team will add DRF rewards every quarter. Additionally, the DRF APY will be determined by the community each quarter, giving stakers a say in the program’s earnings potential.

By joining the DRIFE Franchise ecosystem, you’ll be part of a thriving community of like-minded individuals who are passionate about revolutionizing the ride-hailing industry. You’ll have the opportunity to earn rewards and participate in the growth of the DRIFE platform, all while contributing to a sustainable and socially responsible future.

So what are you waiting for? Get your DRF ready and be prepared to join the Franchise staking program as soon as it’s announced. This is your chance to be a part of something truly amazing and to earn rewards that will change your life. Don’t miss out on this exciting opportunity — join the DRIFE Franchise ecosystem today!