DCORP Whitepaper

What is DCORP

Friends, imagine if there were a company not controlled by a handful of big bosses, but where all those holding its “shares” jointly decide which projects to invest in, and everyone can share in the returns from those investments—wouldn’t that be interesting? DCORP (project ticker: DRP) is a project in the blockchain world that attempts to realize the concept of a “decentralized company.” It’s like a “virtual company” built on the Ethereum blockchain, operating through smart contracts (Smart Contracts, which you can think of as self-executing contracts written on the blockchain). Its main mission is to discover, fund, and manage promising Ethereum-related projects.

DCORP’s target users are ordinary people who want to participate in blockchain project investments but may not have access to traditional venture capital channels. It aims to give more people the opportunity to participate in early-stage project incubation like the “big players.”

For example, DCORP’s initial “seed project” was to create a blockchain-based derivatives exchange (Derivatives Exchange, which you can think of as a platform for trading financial products based on future price movements). The whole process is like a community-driven fund, where everyone votes on which good idea to invest in, and then collectively hopes these ideas will bear fruit.

Project Vision and Value Proposition

DCORP’s vision is to “democratize venture capital,” meaning that venture capital is no longer the privilege of a few elites, but is open to all “shareholders” holding DRP tokens. The core problem it hopes to solve is how to bring together business talent and programming talent in a trustless environment (Trustless Environment, meaning participants don’t need to trust each other because technical mechanisms ensure fairness) to jointly drive the development of the Ethereum ecosystem.

Unlike traditional companies, DCORP emphasizes its decentralized, transparent, and secure nature, because it runs on the Ethereum blockchain, and all decisions and fund flows are publicly auditable. Its uniqueness lies in its company structure and governance model: DRP token holders can vote on project proposals and share potential profits, which was a very innovative attempt at the time.

Technical Features

DCORP’s core technical foundation is the Ethereum blockchain and smart contracts. This means its operations are open, transparent, and secure, because once data is recorded on the blockchain, it’s hard to tamper with and not easily subject to network threats like distributed denial-of-service (DDOS) attacks.

To make it easy for non-technical users to participate, DCORP designed a user-friendly interface, claiming it’s as simple to use as browsing the web or managing a social media account, without needing to understand complex smart contracts or blockchain development knowledge. Of course, for those “shareholders” who are technically savvy, the project’s source code is also open and can be reviewed at any time.

The project’s voting mechanism is also fully recorded on the blockchain, ensuring the fairness and immutability of the voting process and avoiding the possibility of corruption. The DRP token itself is an ERC-20 standard token (ERC-20 is a technical standard for issuing tokens on Ethereum), which ensures its compatibility within the Ethereum ecosystem.

Tokenomics

The token symbol for the DCORP project is DRP, issued on the Ethereum blockchain as an ERC-20 token. The total supply of DRP tokens is approximately 8,911,497.

The main uses of DRP tokens are:

• Governance rights: Holding DRP tokens is equivalent to owning “shares” in DCORP, allowing participation in voting on project proposals and deciding DCORP’s investment direction and major decisions.
• Profit sharing: As “shareholders,” DRP token holders are entitled to share in the potential profits or dividends generated by DCORP’s investment projects.

Regarding the token issuance mechanism, DRP tokens are not generated through mining, nor were there any pre-mined tokens (pre-mined means the team or early investors receive a large number of tokens before the public sale). Unsold tokens from the initial coin offering (ICO) were also not allocated to the founders. The value of DRP tokens is to some extent backed by ETH or other Ethereum-based tokens held in smart contracts, and these funds are controlled by token holders.

DCORP’s initial coin offering (ICO) started on June 1, 2017, and ended on June 29, with a hard cap (the maximum amount the project aimed to raise) of 30,000 ETH and a token price of $0.40 during the ICO. Notably, 51% of the ETH raised in the ICO would be transferred to DCORP’s contract and used to incentivize the development team, with these incentives distributed gradually over four years to ensure the project’s ongoing development, and this process requires shareholder voting approval.

In subsequent development, DCORP also mentioned two types of tokens (or token types), DRPU and DRPS, which are related to the DCORP Academy mechanism. DRPU provides twice the returns compared to DRPS upon redemption; when holders complete courses and receive tokens from funded projects, DRPU offers greater advantages.

Team, Governance, and Funds

DCORP’s founder is Frank Bonnet. The project team lists its members on its website and mentions their years of experience in the tech industry.

In terms of governance, DCORP adopts a hybrid model, jointly managed by shareholders (DRP token holders) and a board of directors.

• Shareholders: DRP token holders have voting rights and can discuss and vote on proposals submitted to DCORP, deciding whether to fund a particular project.
• Board of Directors: Composed of seven elected members and founder Frank Bonnet. Frank Bonnet, as the founder, holds two votes, making the total board voting power nine. Board members are responsible for daily management and executing shareholder decisions, serving as a security mechanism to prevent issues similar to those seen in early DAOs (Decentralized Autonomous Organizations). Board members cannot be anonymous and must be accountable to shareholders.

In terms of funds, DCORP mainly uses its ETH holdings to fund projects and attract talent in hopes of generating profits. The ICO fundraising process was designed to be autonomous to ensure fairness, for example, with no unsold tokens reserved for founders and no free token giveaways.

Roadmap

The DCORP project launched in 2017, with early plans and key milestones including:

• May 2017: Project was first announced, establishing its decentralized, democratic, and autonomous organizational form.
• June 2017: Successfully conducted its initial coin offering (ICO).
• Initial goals: To fund and manage Ethereum-related projects, with the first “seed project” planned as a blockchain-based derivatives exchange.
• February 2018: Launched the DCORP Academy. This was an important milestone aimed at educating and training token holders to help them make informed investment decisions. The Academy also acts as an accelerator for startups, assisting them with token sales. Through the Academy, DCORP collaborates with startups to create concept articles and quizzes, and DCORP token holders who successfully complete the quizzes can receive token rewards from these startups.

The project also notes that, as a startup in a nascent and experimental industry, DCORP would continually adjust and refine its goals in response to industry developments and challenges (such as SEC compliance communications).

Common Risk Reminders

Friends, when learning about any blockchain project, you can’t ignore potential risks. As an early-stage project, DCORP also has some points to note:

• Technical and Security Risks

  Although DCORP is built on the Ethereum blockchain and uses smart contracts for transparency and security, smart contracts themselves are not without vulnerabilities. Information on Etherscan shows that DCORP’s contract code had some specific version warnings at compilation, involving low to medium severity issues such as DirtyBytesArrayToStorage and KeccakCaching. This means its smart contracts may have some potential technical risks that users need to assess themselves. Additionally, as a 2017 project, its tech stack and security practices may differ from the latest standards.

• Economic Risks

  DCORP’s value proposition is to fund promising blockchain projects and share profits. This means the value of DRP tokens is closely tied to the success or failure of DCORP’s investments. If the projects DCORP invests in fail, or if the entire crypto market experiences significant volatility, the value of DRP tokens may also be affected. Given that most information about the project comes from 2017-2018, its current operational status, investment portfolio performance, and market activity all require further independent research and verification.

• Compliance and Operational Risks

  The project has mentioned the need to address SEC (U.S. Securities and Exchange Commission) compliance communications, indicating that blockchain projects face an ever-changing regulatory environment. Regulatory uncertainty may pose challenges to the project’s operations and development. Additionally, while DCORP emphasizes decentralized governance, founder Frank Bonnet holds double voting rights on the board, which introduces a degree of centralization risk that could affect the fairness of decisions. As a relatively old project, users should also investigate the team’s activity, community maintenance, and actual project implementation.

Verification Checklist

When delving into the DCORP project, here are some key pieces of information you can verify yourself:

• Block Explorer Contract Address: DCORP’s DRP token is an Ethereum-based ERC-20 token, with the contract address
  0x621d78f2ef2fd937bfca696cabaf9a779f59b3ed
  . You can check detailed information about the contract on Etherscan and other block explorers, including the number of token holders, transaction records, etc.
• GitHub Activity: The project whitepaper mentions that the source code is open. You can check the activity of its code repository via the GitHub link provided on Etherscan (if still valid) to see if the project is being actively developed and maintained.
• Official Website and Community: Etherscan lists DCORP’s official website
  dcorp.it
  as well as community links such as Reddit, Slack, Facebook, X (Twitter), Bitcointalk, and Telegram. It’s recommended to visit these platforms to learn about the project’s current official information, community discussion activity, and the latest updates from the team.

Project Summary

DCORP (DRP) is an early blockchain project born in 2017 that proposed an innovative “decentralized company” model at the time, aiming to use Ethereum smart contracts to allow DRP token holders to jointly participate in blockchain project investment and governance, and share in the returns. The project’s vision is to democratize venture capital, bringing together business and technical talent in a transparent, trustless environment. It gives holders voting and profit-sharing rights through DRP tokens and has a governance structure jointly managed by an elected board and the founder.

However, it should be noted that most of DCORP’s public information and development milestones are concentrated in 2017-2018. In the fast-evolving blockchain industry, a project’s activity, tech stack updates, community maintenance, and actual business progress years later all require in-depth independent research and verification. Although the project showed early attention to education and compliance, its long-term development and current status still need to be evaluated by users themselves.

Please remember, the above introduction is only a summary and interpretation of DCORP’s historical information and does not constitute any investment advice. Be sure to conduct thorough due diligence and risk assessment before making any decisions.