Status: Seed Round
Please note: UK residents, due to the new FCA regulations that came into affect on the 8th October 2023, we would like to make you aware of the following warning for your safety.
As RIIDE is classed as a cryptocurrency investment, please do not invest unless you’re prepared to lose all of the money that you invest. Cryptocurrency projects are currently deemed as high-risk investments and whilst we will endeavor to make RIIDE a success, you should not expect to be protected if something goes wrong, please take a few minutes to do your due diligence.
Current RIIDE Development Branches
Decentralized Application
RIIDE is a groundbreaking decentralized application (dApp) that seeks to transform the taxi and courier industry by offering an innovative alternative to existing conventional services.
Operating on a web3 platform, RIIDE utilizes a DAO model, wherein the community takes ownership and governance. As a community owner, you will have the opportunity to not only share in the company’s profits but also actively participate in voting on the platform’s development. This approach empowers the community and ensures that their voices shape the future of RIIDE.
Co-owned RWA (Real World Assets)
The Community Fleet program embodies RIIDE’s unwavering commitment to empower its community. As an inclusive community-owned ecosystem, RIIDE extends the opportunity for its members to co-own the assets used for RIIDE services.
Please use the link below to learn more.
Certificate of Ownership Protocol
The RIIDE Certificate of Ownership protocol (#CoOp) was designed to underpin the Community Fleet program. After authentication of an EV asset, vehicles undergoes a specialized asset security marking process, the subsequent verification information is then recorded to a Biokey (Biometric Cryptographic Key) and used to generate the asset’s on-chain Certificate of Ownership, facilitated by Origyn Tech. The certificate is intricately linked to the asset’s parent RWA NFT.
Please use the link below to learn more.
Certificate of Ownership
Company Name
RIIDE DAPP
Company Address
Ealing Cross, 85 Uxbridge Road, LONDON
UNITED KINGDOM
RIIDE DAPP
Company Number
14400032
RIIDE DAPP LTD
VAT Number
459 3044 80
VAT NO
Certificate Number
RIIDELDNUK008
RIIDE
Certified By
ORIGYN
ORIGYN FOUNDATION
Registration Timestamp
12:51 / 24.02.2024
ON-CHAIN
BioKey
∞ 2299003
INTERNET IDENTITY
Certificate of Ownership
Company Name
RIIDE DAPP
Company Address
Ealing Cross, 85 Uxbridge Road, LONDON
UNITED KINGDOM
RIIDE DAPP
Company Number
14400032
RIIDE DAPP LTD
VAT Number
459 3044 80
VAT NO
Certificate Number
RIIDELDNUK008
RIIDE
Certified By
ORIGYN
ORIGYN FOUNDATION
Registration Timestamp
12:51 / 24.02.2024
ON-CHAIN
BioKey
∞ 2299003
INTERNET IDENTITY
Tokenized Energy Consumption
RIIDE Tokenomics | PPM Concept
Tokenized Energy Consumption – PPM (Price Per Mile)
Introduction:
RIIDE aims to revolutionize the way we understand and quantify the energy consumption of vehicles while providing RIIDE services. Central to this vision is the concept of Price Per Mile (PPM), a metric that allows us to fairly represent the cost of energy consumed during a ride in a tokenized form. This proposal outlines the methodology behind calculating PPM within the RIIDE ecosystem, including a mechanism for balancing comparative energy costs among different fuel types: electricity, petroleum, and diesel.
An additional asset (Commodity) known as Delta will be tested in conjunction with the current version of the PPM algorithm.
PPM Calculation Process:
- Quantifying Clean Energy Consumption: RIIDE tracks the clean energy consumed by an electric vehicle during a RIIDE service, including the energy used to travel to and from the service location.
- Algorithmic Conversion: RIIDE employs a sophisticated algorithm to convert the quantified energy consumption into a stabilized and tokenized cost representation. This algorithm factors in various parameters, such as the type of vehicle, distance traveled, energy efficiency, and market fluctuations.
- Comparative Energy Costs: To establish a tokenized cost, RIIDE references the energy consumption of the vehicle for the journey (service) against the cost of the fuel (electrical energy) used to charge the vehicle. This comparison creates a relatable and tangible cost representation of the energy expended for the same journey using different fuels.
- Balancing Comparative Energy Costs: RIIDE acknowledges the importance of maintaining balance and fairness in the energy cost comparison among different fuel types. To achieve this balance, the following measures will be implemented:
- Randomized Re-evaluation: To maintain fairness, the comparative energy cost calculation will undergo a randomized time re-evaluation. This re-evaluation will account for any changes in energy efficiency and fuel prices, ensuring that the PPM formula remains accurate and aligned with current energy consumption and costs across all fuel types.
- DELTA (Commodity Asset): RIIDE will also leverage DELTA once it is released. DELTA is a computational commodity asset that will be used for layer two computational rewards on the Internet Computer.
By integrating these elements, RIIDE aims to provide a comprehensive and fair representation of energy consumption costs for its services, enhancing transparency and promoting the use of clean energy alternatives.
Tokenomics Implications:
Fair Pricing: PPM ensures that the cost of a RIIDE service accurately reflects the energy consumed, promoting transparency and fairness for both users and service providers.
Energy Efficiency Incentives: As the tokenized cost is linked to energy consumption, this incentivizes the use of more energy-efficient vehicles and practices within the RIIDE ecosystem.
Community Engagement: By tokenizing energy consumption, RIIDE encourages community members to actively participate in energy-saving initiatives and to consider the environmental impact of their transportation choices.
Sub-Conclusion:
Equipping the PPM formula with a mechanism for balancing comparative energy costs among different fuel types (electricity, petroleum, and diesel) and incorporating assets like DELTA is a groundbreaking approach. It transparently quantifies the cost of energy consumption within the RIIDE ecosystem, providing a fair and accurate representation of energy use. This methodology encourages responsible energy practices and ensures balance and fairness in the comparative energy cost calculation. The PPM formula aligns with RIIDE’s mission to empower users, promote clean energy, and create a sustainable and inclusive transportation ecosystem.
PPM Integrating & Rewarding:
By integrating the RIIDE token with the PPM model and clean energy reward system, RIIDE not only incentivize users to choose an eco-friendly transportation option but also create a dynamic and engaging ecosystem that promotes sustainable practices within the transportation industry, which we hope will significantly contribute to reducing carbon emissions and the fostering of a more environmentally conscious community.
Rewarding Everyone:
As RIIDE only utilizes EVs for its services, users automatically contribute to reducing carbon emissions, and are eligible for rewards for every RIIDE service.
The rewards are represented in RIIDE tokens. For each mile travelled using clean energy (electricity), users will earn an additional number of RIIDE tokens, determined by the PPM calculation.
- Users can choose how to use their earned RIIDE tokens:
- Discounts: Users can apply their RIIDE tokens as discounts on future rides booked through the DApp, effectively reducing their future transportation costs.
- Conversion: Users may have the option to convert their RIIDE tokens into other cryptocurrencies or local fiat currencies if they prefer.
- Staking: For those interested in actively contributing to the development of RIIDE, users can stake their tokens in the DApp’s governance system, gaining the ability to participate in decision-making processes and earn additional rewards.
Token: RIIDE
Symbol: $RIIDE
Type: Utility & Governance
Network: Internet Computer (DFINITY)
Total Supply: 1,000,000,000 (1 Billion)
Creation Date: Q3/Q4 2024 (Estimated)
% Overview
(Figures shown in %)
Each section’s allocation has been designed to align with RIIDE’s vision of a community-driven, sustainable, and innovative platform. These divisions represent a strategic approach to resource distribution, emphasizing growth, community engagement, and ecosystem resilience.
- Vault
- Expansion
- Buyback (Rewards)
- Insurance
The Treasury allocation, constituting 25% of RIIDE’s ecosystem, strategically divides its resources. The Vault safeguards assets, ensuring financial stability. Expansion funds facilitate RIIDE’s organic growth, while the Buyback pool contributes to market dynamics and ensure ecosystem rewards. A portion dedicated to Insurance fortifies the ecosystem against unforeseen challenges.
COMMUNITY: 24%
- Community Fleet – RWA NFT Rewards
- Service Rewards
- Users
- Drivers
- Couriers
With a focus on community empowerment, 24% is allocated to various community-centric endeavors. The Community Fleet program encourages active member participation, and Rewards are distributed to appreciate user loyalty. Dedicated Service Rewards portions for Users, Drivers, and Couriers underscore RIIDE’s commitment to ensuring a mutually beneficial experience for all participants
STAKING: 15%
- Genesis Bonus
- Staking Rewards
The Staking category, accounts for 15%, is designed to incentivize early involvement. The Genesis Bonus serves as a reward for initial contributors, and ongoing Staking Rewards to further engage and reward the community.
SNS: 18%
- 90% Liquidity Pool/s
- 10% Misc
The Service Network System (SNS) is pivotal, receiving 18% of the total supply for its liquidity and operational needs. 90% is allocated for maintaining liquidity, ensuring a robust and responsive ecosystem. The remaining 10% caters to supporting the continuous development and optimization of RIIDE.
SEED: 8%
- Development
- Operations
- Legal
- Marketing
- Community Fleet (Prototypes)
The Seed allocation of 8% strategically nurtures RIIDE’s foundational elements. Distributions for Development, Operational needs, Legal compliance, Marketing initiatives, Premises, and Community Fleet development collectively lay the groundwork for a sustainable and thriving ecosystem.
TEAM: 10%
- Founders
- Team Members
- Consultants
- Advisors
The Team allocation, at 10%, acknowledges the vital role played by Founders, Team Members, Consultants, and Advisors. This allocation reflects RIIDE’s commitment to a skilled and dedicated team essential for the project’s success.
Token Generation Event | Service Nervous System
The RIIDE (TGE) token generation event will occur with the SNS integration, which is currently estimated for Q3/Q4 2024. Investment raised during the SNS token sale will be used to create a 90% liquidity neuron, and 10% neuron which will be used for development and operational purposes.
Our Genesis APR is only applicable to investors prior to and up until the end of the SNS token sale, after which our APR rewards will fluctuate depending on the total number of tokens staked and the current circulating supply.
Seed/SNS Vesting Periods
All RIIDE tokens are locked into a staking neuron which has a preset vesting period, and are released based on the investment amount. Cliff-linear vesting is a vesting schedule programmed into a smart contract (Neuron). Tokens will be locked for X-period of time, once elapsed your tokens will be distributed. (Interest can be generated as individual neurons that have a 7 day dissolve delay).
Seed Vesting Periods
Asset Verification
BioKey Digital Certification
Asset Certified By
EVMOT
24.01.2024
Vehicle Inspected
∞ 12:51 | 24.01.2024
LONDON
Asset Security Protocol
∞ 09:33 | 27.01.2024
LONDON
On-Chain Timestamp
∞ 10:04 | 04.02.2024
BIOKEY NO
On The Road
∞ 06:00 | 29.02.2024
LONDON
$RIIDE
*PPT – Price Per Token is dependent on your investment entry level.
ROUND | PPT | NO. TOKENS | % SUPPLY | FDV |
|---|---|---|---|---|
SEED | 0.009* | 80M | 8% | 9M |
SNS** | 0.025 | 180M | 18% | 25M |
**SNS PPT is an estimation based on a raise of 250,000 $ICP.
Important: Please ensure the information you provide below for the RIIDE Seed round registration is correct, it will be entered exactly the same into your SAFT agreement, and cannot be altered once signed by both parties.
If you don’t have a wallet yet, we suggest either creating an Internet Identity, NFID, Plug or ME wallet. Once you’ve created a wallet, your wallet’s address (Account ID) can be found in your settings. Please use the information and official website links to discover more about the different types of wallets you can use, or you can click on the title for their FAQ/Tutorial page.
DFINITY’s Internet Identity is a highly secure blockchain authentication system supported by the Internet Computer blockchain.
Plug is a browser & mobile crypto wallet and identity/authentication provider for the Internet Computer, compatible with ICP, and soon with cycles and any Internet Computer token.
NFID is the most private, secure, and convenient way to sign in to third-party apps and websites using devices you already own.
AstroX’s ME wallet, a multi-chain smart wallet powered by advanced cryptography that provides a smooth interactive experience similar to Web2 applications. ME wallet uses biometric technologies including fingerprints and facial recognition instead of existing wallet’s private key management.