DRIFE, a Web3 DePin (Decentralized Physical Infrastructure Provider) built on Sui Blockchain, operating a “decentralized” ride-hailing application in India and UAE, has announced a collaboration with CoinList, the token launch platform, to launch its incentivized testnet for DRIFE Share2Earn location data campaign on DRIFE app.
Users who participate will reportedly be able to earn digital tokens by sharing their location data on the DRIFE App “as they commute.”
The “dynamic” reward system tracks participants’ contributions based “on the Commute & Galxe leaderboard standings.”
DRIFE and CoinList will work cooperatively in order to test DRIFE’s Share2Earn campaign before it is “rolled out to the general public.”
The collaboration reflects DRIFE’s involvement with its community as it develops products and features, and is designed to attract a range of participants and test DRIFE’s network capabilities.
Users can earn rewards through the Share2Earn program while “contributing to the development and testing of the DRIFE platform.”
The collab showcases the importance of decentralization, community engagement, as well as data sharing in the ride-hailing sector.
It highlights DRIFE’s commitment to transparency, “user empowerment, and innovative monetization of data using blockchain technology.”
Participating in the DRIFE CoinList incentivized Testnet program will help enhance location-based services and “improve service quality with community feedback and testing.”
This is significant, given that DRIFE is not just designed to enhance the ride hailing experience, but also to “monetize vehicle data, which will unlock new services, experiences, and economic opportunities for users.”
Firdosh Sheikh, Founder and CEO of DRIFE states:
“This collaboration not only validates our vision for a decentralized ride-hailing ecosystem, but also empowers our community to play an active role in shaping the future of transportation.”
Reward tokens are on the SUI chain and will be available “for claim post TGE, with a weekly linear unlock over a 3-month period.”
Participation in this campaign is open to individuals from across the globe, with the exception of residents or citizens from the UAE, Pakistan, Russia, China, the US, and certain other jurisdictions.
This restriction is in place due to “regulatory and compliance requirements.”
As explained in the latest announcement shared with CI, DRIFE is described as a “decentralized” ride-hailing platform powered by blockchain with the “intent of empowering drivers, riders, and community developers.”
DRIFE said that it intends to disrupt the existing business model and “remove corporate intermediaries involved in transactions.”