CRIPCO (IP3)

What is CRIPCO (IP3)?

At CRIPCO, we seek to transform the manner in which IP businesses are conducted through building an ecosystem of decentralized hubs, where anyone can create, consume and monetize off of each other’s IP.

CRIPCO (IP3) Unique Features

CRIPCO is designed following the Governor Bravo framework, a framework developed by Compound and widely adopted in the DeFi space. The DAO is set up as an upgradable immutable contract where:

• No one can modify the proposal after it is created
• The decision made by the DAO members is final:

no one can change the vote after it is cast.

once voting ends, the outcome is final.

• The contract logic can be upgraded for bug-fixing or fulfilling requests from the DAO community (subject to the DAO community consensus)

Using the Governor Bravo framework, we enable the following features for CRIPCO:

• Voting Right via Address: A DAO member can only vote after they register their voting rights to an address.
• Secure 3rd Party Delegation Vote Casting: DAO members can authorize a third party to submit a vote on their behalf by using a digital signature. In this case, the DAO member uses their private key to sign a voting transaction which the 3rd party can then submit to the network. The authorized voting power is limited to a single proposal. The DAO member can still use their vote as long as the signed transaction hasn’t been submitted.
• Moderate Efficiency via Staking: To create a proposal, a proposer must stake a certain amount of IP3. That same amount of IP3 will then be refunded back to the proposer when the voting is concluded. This helps reduce the protocol jam and prevent spam attacks.
• Voting Reason: Voters can add a text comment when voting. This enhances the transparency of both the voting and decision-making processes of the DAO members. Furthermore, the comments can facilitate more in-depth and nuanced discussion.
• High Flexibility for Voters: Voters can choose between Abstain, For, or Against a proposal rather than being forced into a yes/no decision or not voting at all. This flexibility makes vote delegation more practical.
• Review Period: The DAO contract allows a review/analysis period for each proposal. This ensures voters have enough time to read the proposal and aggregate corresponding data to come to the right decision. A review period substantially improves the accessibility, confidence, and safety of the voting process. This period is strictly safeguarded by the contract’s admin.
• Proposal Cancellation: A proposer can cancel a proposal at any time (even after the voting process). When a proposal is canceled, it will be removed from the queue and voting process. This feature helps to reduce junk/erroneous proposals and enhance the efficiency of the DAO.

Roadmap

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CRIPCO Token Economy

As discussed previously, CRIPCO will have two distinct tokens. A utility token to handle transactions between users within the marketplace, and a governance token used exclusively within the DAO.

The utility token is called IP3, and the governance token is called IPD. At genesis, only IP3 will be available. A user can lock up 10,000 IP3 to form an IPD. IP3 is designed for public use, whereas IPD is designed to ensure effective multiverse governance.

IP3

IP3 is the utility token of the CRIPCO platform. Its primary function is as the medium of exchange between transacting parties. All sales and transactions fees within the Multiverse will be settled in IP3.

Beyond this, holding IP3 will grant users certain privileges, benefits etc. when using the platform. Here is a description of the proposed IP3 token utility cases and values:

• Transaction Currency
• Pocket Universe Application Fee
• Staking Fee
• Voting Incentive
• Early-Access to Listings
• DAO Treasury Special Events
• Treasury Voting Applications
• Exclusive Multiverse Perks & Benefits

IPD

IPD is used for all governance decisions affecting the multiverse. Details on the exact types of governance decisions, their approval processes, the curation smart contract and more can be found under the DAO Governance section. IPD confers a voting weight of 1. Below is a brief description of proposed IPD utility cases:

• Pocket-Universe Approval
• Smart Contract Upgrades
• Treasury Decisions
• Staking Reward
• NFT Reward
• Fee Discount

Detailed Token Metrics

• Token: IP3
• IEO price: 1 IP3 = 0.2 USD
• Total IP3 supply: 300,000,000
• Total IP3 for sale for FTX IEO: 3,000,000 (1% of total token supply)

Token Distribution

Seed Sale: 1%

Private Sale A: 5%

Private Sale B: 5%

Public Sale: 1%

Team: 5%

Advisor: 5%

Marketing/PR: 10%

Treasury: 18%

Liquidity Reward: 50%

Token Release Schedule

Seed Sale: 9.5% each month for 10 months after 1 year cliff from listing

Private Sale A: 9% each month for 10 months after 1 year cliff from listing

Private Sale B: 9% each month for 10 months after 1 year cliff from listing

Public Sale: No lock-up

Team: 10% each 2.4 month for 24 months after 18 months cliff from listing

Advisor: 10% each 2.4 month for 24 months after 18 months cliff from listing

Marketing/PR: No lock-up; held in reserve for marketing and PR of the IPD DAO

Treasury: No lock-up; held in reserve for the reward to the IPD holder

Liquidity Reward: No lock-up; held in reserve for the future contribution to the IPD DAO

Partners

Team Members

• CEO Kimberly Hyunkew Lee
• Director / Blockchain & NFT Shinchul Park
• Director / General Affairs Sehyung Kim

Investors

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