DRAFT Dsion is. Startup Funding on Blockchain Platform

Transcription

1 DRAFT Dsion is Startup Funding on Blockchain Platform

2 2 Dsion White Paper Startup Funding on Blockchain Platform CONTENTS 1. What is Dsion? 5 1) Dsion Summary 5 1-1) Absence of a Fair and Secure Investment Platform 5 1-2) Fair and Safe Investment Platform "Dsion" 7 2) Dsion Consensus (DPOS) and Agreement Algorithm (PBFT) 9 2-1) Dsion Consensus (DPOS) ) Dsion Agreement Algorithm (PBFT) ) Dsion Block Generation Compensation System 12 3) Dsion Master nodes and Sub nodes ) Master nodes and Subnode Eligibility Requirements ) How to Select Master nodes ) How to Maintain Master nodes and Sub nodes ) Master node and Subnode Main Roles ) Master node and Subnode Compensation ) Voting Right Rules 16 4) Dsion Account, Transaction, Message ) Dsion Account ) Dsion Transaction ) Dsion Message Startup Funding Blockchain Platform 18 1) Dsion Platform Structure ) Dsion Network Configuration ) Fund Storage Configuration and Roles ) Candidate Startup ) Fundraising & Milestones for Startup 20

3 3 Dsion White Paper Startup Funding on Blockchain Platform 2) Dsion Startup Investment Process ) Selection of Startups to Invest in ) Investment Decisions and Investment Progress in Selected Startup ) Investment Funds Management Process after Startup Investment ) Paying Dividends or Profit Distribution to Staking investors Strategy to maintain Dsion value and prevent inflation 35 1) Utilizing the Reserve Fund ) Establishment of Reserve Fund ) The Role of the Reserve Fund to Prevent Inflation 36 2) Split Payment of Investment 36 3) Utilizing Investment Fees 36 4) Dsion Value Retention Strategy Synthesis Dsion Blockchain Platform Expansion Strategy 38 1) Strategy for Platform Extension and Value Enhancement ) Exchange and Feedback with Platform Participating Companies ) Startup Inflow Strategy for the Dsion Platform ) Steady Support for Dsion Platform Participating Companies 39 2) Participating Companies and Roles with the Dsion Platform Launch ) Coinslide ) GGF (GGFighter) ) Spo-bit ) Geekfluencer 47

4 4 Dsion White Paper Startup Funding on Blockchain Platform 5. Roadmap Token Sales and ICO Funds 50 1) Dsion Token Information and Allocation Plan ) Dsion Token Information ) Dsion Token Allocation Plan 50 2) Dsion Token Allocation 51 3) Dsion Token Raise Allocation Dsion Team 57 1) Team 57 2) Guardian 59 3) Adviser Policies and Disclaimer 60

5 5 Dsion White Paper Startup Funding on Blockchain Platform The fair and secure platform for startup funding, "Dsion" Block-chain technology has become widely available starting with Bitcoin, a cryptocurrency based on a peer-to-peer (P2P) cryptosystem consisting of a limited set of operations on a layered protocol. Since then, platforms with various blockchain technologies have emerged. Typical platforms include Ethereum, Bitshare, Steem, EOS, NEO, and NEM. Each platform has its own characteristics. We are openly applying formal rules and procedures, transactions, consensuses, networks of such block-chains with thousands of iterations, advice from peer reviews, and great ideas from block-chain projects to date. This white paper aims to provide a block-chain platform for both investors and startups to ensure a fair and secure investment. We call this "Dsion." Dsion provides companies with an open source block-chain platform for startup investments and specialized modules (classes and libraries) for the decentralized block-chain platform. It will provide decentralized modules with high reusability and efficiency that are useful for the startup business. To prove our vision, we will first provide the Dsion platform to four differently characterized startups. We will support investment for promising startups and successfully lead the Dsion blockchain platform business.

6 6 Dsion White Paper Startup Funding on Blockchain Platform 1. What is Dsion? 1) Dsion Overview 1-1) The absence of a fair and secure investment platform What do startups need most? Ideas? A team? Even if everything is perfect, it is impossible to proceed without funding. Startups that cannot be sure of success usually start or expand their business with funding from outside. This funding typically comes from venture capital (VC) and government agencies. Most of the problems that arise from this type of investment come from

7 7 Dsion White Paper Startup Funding on Blockchain Platform meeting investors with no expertise and startups without a business model. It can be seen as the limit of the structure of making investment decisions by judging with limited information. In recent years, crowdfunding investment model, that the business project is disclosed on the internet and is invested in a large number of anonymous investors, has been expected to be an alternative to the existing investment model in that investors does not rely on the judgment of a limited number of people and shares the risk. However, it also has structural limitations as an investment model, since it is difficult to verify whether the invested company is using the funds efficiently, and if the output of the completed project is less than expected, it may be difficult to retrieve the investment. Dsion offers an alternative to the problems of the current investment model with the Decentralized Decision-Making System and the Public Distributed Ledger, which are the basis of the blockchain. The 'Decentralized Decision-Making System' can monitor or influence a lot of investors to participate in the investment process and make rational decisions. The 'Public Distributed Ledger' can contain reliable fund management information and schedule progress information that is difficult to expect from unlisted companies. By using the blockchain as a powerful monitoring device that enables investors to reasonably use funds and time, investors can expect an efficient use of the invested funds and a higher return on investment. One individual is weak, but if they are tied to a chain of masses, their strength and wisdom will be greater than any individual. It takes a lot of effort for an individual to become the public. Therefore, Dsion realizes the popularization of each individual through the participation in the Dsion blockchain platform of individuals that have the same purpose. Dsion is a fair and secure next-generation investment platform operated by a strong Collective Intelligence, relieving the efforts of individuals to become the public. 1-2) The fair and safe investment platform "Dsion" Dsion has come up with a number of ways to be a fair and safe investment platform for both investors and startups. The current Dsion method is not the best, but we are willing to create a platform that can suggest the optimal method. In order to suggest an optimal method, the primary focus is on fairness and safety. There are many startups that are armed with competitive ideas, but not all of them are offered fair investment opportunities.

8 8 Dsion White Paper Startup Funding on Blockchain Platform Also, it is difficult for investors to find startups to invest in that guarantee their safety. We want to solve this problem with the Dsion blockchain platform. Dsion is designed to allow startups to be invested securely and fairly in developing applications under the platform of a blockchain. At the heart of this design is the Value Assurance Token (VAT). VAT is a token that assures value. It is a way to guarantee the value of the investment on the platform according to the contract recorded in the blockchain when the investor proceeds with their investment. [Image] Fair and Safe Dsion Investment It is structured to operate an investment platform based on VAT on the Dsion platform. 1 Investors can verify information on safe investments recorded on the blockchain in real time. 2 When a block is created in the Dsion network, the DSN (the symbol of the coin issued by Dsion) of the generated block is distributed to the block creation contributor, Investment Fund, and VAT Fund. 3 The DSN allocated to Investment Fund will be used for startup investment, and the DSN allocated to VAT Fund will be used as a fund to guarantee investors' investment.

9 9 Dsion White Paper Startup Funding on Blockchain Platform A platform where startups can receive investment with fair opportunities, and investors can invest securely through blockchains! These are the core values Dsion pursues. 2) Dsion consensus (DPOS) and algorithm (PBFT) Bitcoin was first introduced to the world by Satoshi Nakamoto's paper "Bitcoin: A Peer-to-Peer Electronic Cash System" in This cryptocurrency was actually first implemented by Nakomoto, and combined the public-key cryptography algorithm used for ownership with a consensus algorithm called Proof-Of-Work (POW) to create a decentralized cryptography. This proof-of-work method prevents double payment problems and is difficult to counterfeit and tamper with, because all computer nodes that use Bitcoin share all transaction records of Bitcoins and the hashes, which require a lot of computing power, at the time of block generation. It can also defend against a Sybil Attack, a kind of network hacking attack. It was remarkable to implement a solution that enables non-face-to-face transactions while preventing fraud without any involvement of a trusted third party for the first time. While Bitcoin is considered as Blockchain 1.0, platforms called Blockchain 2.0 have emerged one after another. Among them, Vitalik Buterin announced Ethereum in It uses a Turing-complete programming language on a blockchain basis. Ethereum allows users to create "Contracts" that contain arbitrary state transition functions according to a prescribed coding rule, thereby enabling complicated systems of various applications to be implemented. The characteristic of a smart contract is that it is self-enforcing. Since it is already made up of a computer language, 'executable code,' when certain conditions are met, the program is forcibly executed and the contract is implemented. It is a powerful force in contracts in which the contract partner cannot be trusted. Bitcoin and Ethereum are representative and strong cryptocurrencies. However, the use of the consensus algorithm POW has created enormous energy wastage and a concentration of computing power. Various consensus algorithms are being developed to address this problem. A typical consensus algorithm is as follows:

10 10 Dsion White Paper Startup Funding on Blockchain Platform POW (Proof Of Work): A consensus algorithm in which nodes generate blocks based on hash power. In the process of making hash power, an operation called mining is carried out. The first generations like Bitcoin, Litecoin, and Ethereum use this method. POS (Proof of Stake): A consensus algorithm that generates a block that is newly created according to the ownership percentage. It eliminates blocks with bad intentions by granting permission to create a block with a node that has a large number of shares and by matching the interests of the block creator and the equity creator. NEO, NXT, and others use this method. DPOS (Delegated Proof of Stake): A delegated equity verification method, a modified version of the POS consensus algorithm. Entitled entities participate in the block creation, such as the current parliamentary election of the Republic of Korea. Steem, Bitshare, EOS, and others use this method. Classifi cation POW POS DPOS Pros * Strong security * Prevent service abuse * Does not need a lot of hash power and is economic * Decentralization of block producers ensures stability * Prevention of dumping due to equity collateral in block generation * Fast transaction process compared to POS * Low cost compared to POW * The risk of a hard fork is low * Witnesses have clear incentive to vote Cons * High power consumption * Maintain hashes * Ecosystem disturbance by hash monopoly * Unverified verification of security * A few monopolies with a large share are possible * Risk of collusion between witnesses * DDoS attack risk against a small number of public witnesses Various consensus algorithms are currently being developed and used, but the typical methods are the above three, among which DPOS is recognized as the most reasonable way. Dsion adopts the DPOS method. Currently, the character of the blockchain platform that Dsion pursues is consistent with the DPOS method. It is also easiest to support fast transactions through the participation of many startups. In addition, the DPOS method is most reasonable considering the need for a fast hard fork that can respond to rapid changes in startups.

11 11 Dsion White Paper Startup Funding on Blockchain Platform 2-1) Dsion Consensus (DPOS) DPOS elects a witness who will exercise his or her voting rights in the event of any agenda, It is the way in which the elected witnesses solve the problem by voting. The main tasks of the elected witnesses vary, including block generation and transaction processing, and making decisions about significant modifications to a certain software. Most of the applicability to blockchain platforms can be determined by elected witnesses. The biggest advantage of this approach is its speed. There are fewer subjects to agree and most witnesses are based on trust. It is therefore a way to increase speed by removing most of the verification part used for Bitcoin or Ethereum. Instead, the security aspect comes at a cost. In the cases of Bitcoin and Ethereum for the Byzantine Fault Tolerance, there must be a 51% attack to take over the platform. In the case of DPOS, it is possible to destroy the platform when it takes over more than 1/3. The construction principle of DPOS is to use most of the Practical Byzantine Fault Tolerance (PBFT) as it is or with slight modification. It is excellent in terms of speed to the amount it is sacrificed. When compared to about 10 TPS for Bitcoin and about 30 TPS for Ethereum, about 1,000 TPS per second for DPOS shows a quite significant difference. We will implement the Dpos consensus based on Graphene Core for the safe design of DPOS. Graphene was developed from Bitshares, a decentralization base, and has been modified and applied several times over time. It is typically used in Bitshares, Steemit, PeerPlays, Reddit, and FollowMyVote, and its efficiency has been proven. 2-2) Dsion Agreement Algorithm (PBFT) Practical Byzantine Fault Tolerance (PBFT) is a consensus algorithm developed so that all nodes participating in a distributed system can successfully reach agreement when a distributed system is an asynchronous system in which a Byzantine node that does not perform the promised behavior can exist. PBFT solves the problem that existing BFT consensus algorithms can only be agreed upon in a synchronous network, thereby enabling an agreement in an asynchronous network with a Byzantine node.

12 12 Dsion White Paper Startup Funding on Blockchain Platform [Image] PBFT Algorithm Operation ( The figure above shows how the PBFT algorithm operates. The algorithm used in existing distributed systems has special nodes called Primary or Leader. These nodes sort the request sequence of the client, writes the result of the request, and distributes it to other nodes. The agreement is reached as follows: 1 The leader collects and sorts the clients' requests and propagates them to the other nodes along with the execution results. 2 The nodes receiving the message from the leader propagate the message received from the other nodes to the remaining nodes once again. 3 Every node determines what the same message (more than a quorum) it receives the most from other nodes and propagates it to other nodes. When the process of is over, all the nodes have the same data that the consent of the quorum is agreed upon. The PBFT uses two broadcasts to allow all nodes in the network to have the same message even when the Byzantine leader or the Byzantine verification node sends a strange or arbitrary message to the network branch. These PBFT algorithms are used in private blockchains such as IBM Fabric 0.6v or 1.0v Orderer services and R3 Corda's Notary. 2-3) Dsion Block Generation Compensation System Dsion's blocks are generated by the Master nodes, and the compensation provided is based on block generation, divided into four according to the compensation ratio. a) Block Generation Block generation: Master nodes

13 13 Dsion White Paper Startup Funding on Blockchain Platform Block time: 3 seconds Number of one-time block generation: 4.7 DSN (based on 5% issued per year) b) Compensation after block generation Content Master node Subnode One-time block generation based on 5% per year (DSN) 4.7 DSN Investment Fund VAT Fund Block time (seconds) Total one-day compensation (DSN) Total monthly compensation (DSN) Compensation ratio (%) 3 seconds 135,360 DSN 4,060,800 DSN 40% 40% 15% 5% Number of nodes Monthly compensation (DSN) 77,348 DSN 25,782 DSN 609,120 DSN 203,040 DSN The block compensation formula is as follows: One-month compensation (DSN) = 86,400 (24x60x60=One day in seconds) / Block time x Compensation per block Compensation Ratio / Number of Nodes 30(One month) 3) Dsion Master node and Subnode Dsion configures Master nodes and Sub nodes for independent networks and blockchain platforms. The Master nodes are elected by voting among the Sub nodes and are authorized to make decisions to maintain the Dsion platform.

14 14 Dsion White Paper Startup Funding on Blockchain Platform A subnode can be run if it meets certain eligibility requirements and can become a Master node through voting. It is flexible to cope with the requirements of the Dsion blockchain platform. 3-1) Master node and subnode eligibility requirements The eligibility requirements of the Master node and the subnode are the same, and the top 21 people who receive the most votes among the Sub nodes become the Master nodes. a) One should run a server with the recommended specifications required by the Dsion platform. b) One should own a DSN of 0.2% of the total Dsion Coin amount. c) If the owned coin's ID is stored in the node and the node is normally operated, it is registered as a subnode. d) Registered Sub nodes can be recorded in a blockchain and provided in API form, and can apply a voting system to their web page. e) The voting system can vote for all registered Sub nodes, and if any information is changed to its discretion, the ID is suspended and the coin will not be returned. f) All restrictions are made through the vote of the Master nodes registered as a smart contract. 3-2) How to elect Master nodes The Master node selection is performed through a voting system operated by Sub nodes. Participation in the voting is possible for Staking investors who are registered as a Dsion Holder with Staking (more than 10,000 DSNs locked for investment or voting rights) registered. a) When a Staking investor elects a representative, voting will be performed in proportion to the locked DSN (1 DSN = 10 votes). b) At least two representatives must be elected. If two or more delegates are selected and voted, they will be automatically voted equally. his is to prevent landslide votes, and the minimum representative selection criteria may be changed. c) ny support or withdrawal of a representative through voting may be changed at any time, and any previous vote shall be null and void. d) After voting, the locked DSN cannot be moved for three days, and if a vote is changed, the DSN can be moved three days after the time of change.

15 15 Dsion White Paper Startup Funding on Blockchain Platform Through the initial Master node election, the nodes with the most votes cast on the Dsion main net open basis will be the Master nodes, and the rest will be Sub nodes. The Master nodes and the Sub nodes can be changed at any time by operating the same server. Voting is applied round by round, and 2 * number of Master nodes * block generation time (about 3 minutes) is defined as one round. Thus, if the result of the vote is progressed every three minutes and there is a subnode that receives more votes than a Master node, the subnode becomes a Master node and the Master node is changed to a subnode. 3-3) How to maintain Master nodes and Sub nodes The Master nodes and Sub nodes must operate the servers recommended by Dsion smoothly. a) A node needs to own 0.2% of the total amount of DSN to be maintained, and if the amount of holdings drops to less than 0.2%, it cannot perform the role of a Master node and a subnode, and block compensation for DSN block generation will not be provided. b) If the server of the Master node fails and the block cannot be generated, the top subnode fulfills that role instead. When the Master node returns to its normal state, the subnode that replaced the role returns to its original state. 3-4) Master node and subnode main roles The main roles of a Master node are as follows: Issue DSN through block generation. Process Dsion transactions. Play the role of investment decision and management upon startup investment. Make comprehensive decisions to maintain the Dsion blockchain platform. By limiting block generation to Master nodes, we can speed up the agreement process and improve the transaction processing to implement a network that can compete with centralized applications. In addition, we can use the capital from the Investment Fund by setting up a period for startup investment and raising the fund with a 40% compensation rate whenever a block is generated. This is aimed at minimizing irrational investments and general investor's losses. The main roles of Sub nodes are as follows: Collect transactions to support Master nodes.

16 16 Dsion White Paper Startup Funding on Blockchain Platform Provides DApp resources. Replaces the Master node in case of emergency and issues DSN through block generation. Catalogues companies to be invested in for startup investment. Transaction collection is a partitioning task in which the Master node concentrates only on transaction processing, collecting and transferring transactions transmitted to the network. It also provides DAPP resources like RAM, network, CPU, etc. Cataloging startups to invest in serves as a guide to select the list of companies to invest in to prevent reckless and irrational investments for the Master node. Therefore, Master nodes can only invest in startups selected by the Sub nodes, and the Sub nodes support the Master nodes and hold no authority to make startup investment decisions. 3-5) Master node and Subnode Compensation a) Master node block compensation Issues 4.7 DSNs per one-time block generation, and it is compensated at a 40% rate per block. b) Subnode block compensation The Sub nodes are compensated at a 40% rate per block among the 4.7 DSNs issued at the time of one-time block generation, and the compensation is distributed after dividing it by the number of Sub nodes. 3-6) Voting Right Rules The voting rights are for the Master node election vote and the Master node agenda vote. The rules are as follows: a) The Master node election vote is awarded to a Staking investor among the Dsion Holders who hold more than 10,000 DSNs. b) n election vote shall be voted on at least two representatives. c) Staking investors are given 10 votes per DSN, and can vote up to a maximum of 50% for a single representative. d) In the Master node selection decision, the 21 Sub nodes that have obtained the most votes among them are selected as Master nodes. e) Support and withdrawal to representatives can be changed at any time after voting. f ) For the agenda vote of the Master nodes, one decision right is given to each Staking investor, and the agenda is adopted and executed when more than half approve.

17 17 Dsion White Paper Startup Funding on Blockchain Platform Master node Block generation Transaction processing Establishment and selection of companies for startup investment Decision making for the Dsion platform Subnode rovision of DApp resources Transaction collection Catalogue startups Operate the server instead of the Master node in case of emergency 4) Dsion Accounts, Transactions, Messages 4-1) Dsion Accounts An account can have a unique name that is consisted of letters and numbers, 2 to 32 characters long. At the time of creation, the Dsion coin more than the cost of storing the account information should be held. Parent name codes are supported for scalability. You can set information for a unique role (service type or company only) and permissions for sub-accounts. 4-2) Dsion Transactions The DPOS blockchain has a 100% participation rate because it is produced by the top block producers. After an average of 1.5 seconds from the broadcast time of the block, the transaction is confirmed with a reliability of 99.9%. To confirm that the transaction cannot be changed, the node can wait for (2/3) +1 confirmations from all producers of the top block producers. The confirmation time for all blocks requires '((2/3) +1) * block generation time.' Upon confirmation from all, the blocks cannot be changed and they will not be converted to another blockchain (Fork) regardless of the length of the block. The transaction rate is expected to be about 1,200 TPS. This is a limited experimental result derived only through Graphene and will be upgraded to a faster rate in the future. 4-3) Dsion Messages A transaction is any action that is passed through a message. This is also the case for a general DSN move, and when moving from one wallet to another wallet, a certain portion of that amount is locked. A Message is a transaction for entering a contract or calling data. The Message includes a message destination, a signature for identifying the source, transaction information, an optional data field, and the size of the resource used in the message.

18 18 Dsion White Paper Startup Funding on Blockchain Platform 2. Startup Funding Blockchain Platform 1) Dsion Platform Structure [Image] Dsion Platform Structure The Dsion Platform Structure is configured as shown above. The terms in the figure are defined below. The Dsion Platform Structure is divided into four major categories. This classification is abstracted for easier structural explanations. It is actually included on the Dsion Network. * Description of Terms Dsion Holder: Holds DSN and is granted the authority to receive a bounty for the statement of long-term investment. Staking investor: A user who has been registered for Staking among Dsion Holders (locking over 10,000 DSNs for investment or voting rights). Has the right to vote on Master nodes and Sub nodes, and can participate in startup investment. Master node: In charge of block generation from the Dsion Network and decision making of voting rights entrusted from Dsion Holders. As compensation for this, DSN is received

19 19 Dsion White Paper Startup Funding on Blockchain Platform at a 40% compensation rate per block upon block generation. It consists of 21 nodes in total. Subnode: Supports the role of the Master node and selects companies to invest in at the time of startup investment. When a Master node is absent, it can be promoted to a Master node, and it is responsible for cataloging and supervision of the startup list. As a compensation, DSN is received at a 40% compensation rate per block upon block generation. It consists of 63 nodes in total. Investment Fund: Each time a block is created, DSN is credited to Fund Storage at a 15% compensation rate per block. It is used as a basic fund for Master nodes to start the startup investment. VAT Fund: Each time a block is generated, it is credited to VAT Fund at a 5% compensation rate per block. When it is difficult to retrieve the investment principal after the startup investment, it is used to preserve the investment of the investor. Reserve Fund: When a startup distributes a dividend to the Staking investors, 1% of the dividend is credited to Reserve Fund. Later, it can be credited to Invest Fund Storage by Master node s voting or burned to prevent inflation. Support System: A system required for a fair and secure platform. Comprised of Scoring, Milestones, and Funding Management. These three systems will work with the Dsion blockchain for investor safety and fair investment in startups. 1-1) Dsion Network Configuration The members of the Dsion Network are (1) Master nodes, (2) the Sub nodes, and (3) the Staking investors. The 'Master node' maintains the network and has the final authority over the investment. The 'subnode' assists the role of 'Master node' and selects target startup candidates so that the 'Master node' can make an investment decision. The 'Staking investor' is an important foundation and participant in the process. The 'Staking investor' is a principal agent that selects the 'Master node and subnode' by voting, and at the same time, it is a candidate to become 'Master node and subnode' by voting if it meets the conditions for a subnode. All members make contributions and receive compensation for funding and selection. The 'Staking investor' makes direct and indirect investments through direct investment and

20 20 Dsion White Paper Startup Funding on Blockchain Platform contributions made for the 'Master node.' This has the effect of dispersing the risk of investing in startups from the Staking investor position. 1-2) Fund Storage Configuration and Roles It is a fund needed to maintain the platform. It is divided into three categories according to the usage as an Investment Fund, a VAT Fund, and a Reserve Fund. a) Investment Fund Whenever a block is generated by the Master node, the DSN is credited to the Fund Storage at a compensation rate of 15% per block. Funds used for startup investment b) VAT Fund Whenever a block is generated by the Master node, the DSN will be credited to the VAT Fund at a compensation rate of 5% per block Funds used for the safety of investors after investment in startup c) Reserve Fund When distributing dividends to Staking investors, 1% of the dividend is credited to the Funds to maintain the proper value of Dsion coin and prevent inflation 1-3) Candidate Startup Refers to a startup that is selected through a competition or has applied directly to the Dsion platform. Candidate startups are evaluated by Dsion's Support system, Scoring and Milestone: a) Scoring allows Sub nodes to evaluate investment appropriateness in the form of voting for candidate startups, and the results are recorded in the blockchain. b) Milestones refer to the business plan and progress schedule submitted by the candidate startup, which are also recorded in the blockchain, allowing the Sub nodes to assess whether the 'business plan' or 'schedule' of the candidate startup is appropriate. 1-4) Fundraising for Startups Only startups selected from the candidates will receive investment through this stage. Once the investment decision is made, based on 1-3) Milestones' progress that manages the startup, there will be two split investments. If the Milestones stage is less than 50% approved by the voting of Master nodes, the investment will be discontinued and investor refunds will be made according to established procedures.

21 21 Dsion White Paper Startup Funding on Blockchain Platform After the investment has been made, investors can monitor the management of funds through Funding Management, which is also recorded in the blockchain. 2) Startup Funding Process The startup investment process of the Dsion platform is a four-step process. 1 Startup selection >> 2 Investing in selected startups >> 3 Post-payment management >> 4 Dividend or profit distribution to investors

22 22 Dsion White Paper Startup Funding on Blockchain Platform 2-1) Selection of Startups to Invest in [Image] Selection of startups to invest in 1 Dsion startup investment schedule and investment target list Dsion startup investments are divided into semiannual investments and occasional investments made according to the votes of the Master nodes. a) Regular investments are made on the first day of January and July of each year. b) For occasional investments, if 5,000,000 DSN has been credited to the accumulated Invest Fund Storage and the Master nodes vote to more than 50% in favor, a startup investment can proceed. c) The decision on the number of companies to invest in at the time of regular or occasional investments is decided by the vote of the Master nodes based on the accumulated Fund Storage Fund amount, the Milestone created by the candidate startup, and the company specific Scoring evaluated by Sub nodes.

23 23 Dsion White Paper Startup Funding on Blockchain Platform 2 Verification and Cataloging for Sub nodes to Select Startups The subnode determines the candidate startup for the final investment through 'Milestones' (business progress information) and 'Scoring' (verification of company evaluation by Sub nodes). a) The decision from Sub nodes for final selection of the startup is made by voting for each startup, and the companies that receive at least 50% approval from voting will be selected. b) "Milestone" Evaluation items that need to be written by a company that wants investment Business plan Desired investment amount Dividend or profit distribution plan for investors - Dividend plan based on investment annual dividend rate, principal repayment period) - Profit sharing plan based on the profit sharing model after investment (annual profit sharing ratio) Previous year's sales (except for new corporations) Previous year's ratio of operating gain to revenue (excluding new corporations) c) Companies wishing investment should submit the desired investment amount within the limit of 500 million KRW in terms of the maximum investment amount set by Dsion when preparing the "Milestone." The maximum amount of startup investment can be changed by voting of Master nodes based on the Dsion platform growth and Investment Fund accumulation. d) Candidate startup lists are updated in real-time via applications and competitions of startups seeking investment.

24 24 Dsion White Paper Startup Funding on Blockchain Platform 2-2) Investment Decisions and Progress in Selected Startups [Image] Investment progress in selected startups Staking investors can choose the way they want when selecting the company and participating in the investment. Dividend Method Profit Distribution Method Compensation Confirmed dividend Profit Distribution Repayment of Investment VAT Provided Repay 100% of the investment Provides VAT (guarantees 50%-80% of the investment) Repay 10%-30% of the investment Provides VAT (guarantees 10%-30% of the investment)

25 25 Dsion White Paper Startup Funding on Blockchain Platform When the investment is made in the startup, the investment is divided into two parts instead of being invested all at once. The second investment is made six months after the start of the initial investment. The ratio of investment to startup is 50% for the first and 50% for the second. 1 For the startup selected by the Sub nodes, the Master nodes verify the company's 'Milestone' and 'Scoring' and determines whether to proceed the investment, investment amount, and investment progress through voting. a) If the Master nodes vote and approve for an individual startup for more than 50%, the investment will be decided. Decision criteria for startup investment amount * The amount of investment is calculated by totaling the ratio of the approval vote of the Master nodes and the Scoring coefficient based on the amount requested by the startup. However, if the calculated amount is greater than the requested amount from the startup, the investment will proceed only to the requested amount. Investment calculation formula = Amount requested by the startup X Startup vote approval ratio X Scoring coefficient Desired amount ex) Startup A: 100,000,000 KRW x 0.6 (upon 60% approval) X 1.6 = 96,000,000 KRW Scoring coefficient formula = Scoring score percent X 2 2 Once the decision is made by the Master node on each startup investment and the total investment amount, the amount for individual investors who can participate is announced and receives the investment participation from the Staking investor in order of application. a) A Dsion Holder who wishes to participate in an investment and holds a minimum of 10,000 DSNs can become a Staking investor and participate in the investment. Startup investment procedure 1 When the investment decision and investment amount are decided for a startup, the investment fund will set a 50% investment for each company. 2 Within 50% of the startup investment available, Staking investors invest in the desired companies.

26 26 Dsion White Paper Startup Funding on Blockchain Platform 3 Once the investment of Staking investor is completed for each startup, the Investment Fund invests the remaining amount if the investment has not fulfilled the investment amount determined for each company. 4 Investment fund and Staking investor's investment will be added for each investment process for a startup. Investment participation and decision making of Staking investors * Staking investor will determine the investment amount for each company after confirming the investment amount, investment progress method and VAT guarantee ratio by recording and voting 'Milestone' and 'Scoring' evaluated by the Master node. Staking investor will determine the investment for each company after confirming records of 'Milestone' and 'Scoring' evaluated by the Master node, and the investment amount, investment progress method and VAT guarantee ratio decided by voting. * Staking investors' investment decisions and investment progress for each company are decided by themselves, and dividends on investments and profit distribution are automatically determined and calculated based on the invested companies and investments. 3 If Staking investor's investment amount among the total investment amount for startup is decided, the remaining amount excluding investment amount of Staking investor will be invested from the Investment Fund. 4 Once the total investment in the startup is determined, 1% of the investment will be automatically burned. 5 The Master node invests the funds of Investment Fund to be invested and investment of Staking investor in startup. a) The Investment Fund ratio should be at least 50% of the total investment in a startup investment. b) The Master nodes do not have ownership of the funds of the Investment Fund used for the investment and have the right to operate through voting. c) The Master nodes manage the Investment Fund according to the proportion of Investment Fund accumulated during block generation. d) Investments for a startup shall be invested in a fair and safe manner by summing up the funds of Investment Fund and investments of Staking investors.

27 27 Dsion White Paper Startup Funding on Blockchain Platform Startup investment execution procedure 1 The final investment (Investment Fund and Staking investor investment) determined for each startup will be transferred to Dsion Smart Contract and locked. 2 The final investment (DSN) held at Dsion Smart Contract will transfer 50% of the total investment to each company's wallet for each startup. 3 The remaining 50% of the investment held in Dsion Smart Contract will be transferred to the wallet of the company when the second investment is made according to the second investment decision after 6 months. If the second investment is suspended, they will be retransferred to each investment fund and Staking investor's wallet. 6 Staking investors will receive Value Assurance Tokens (VAT) once the investment is made. VAT Ratio Estimation Criteria * The VAT guarantee ratio is automatically set according to the approval rate of the investment decision vote by the Master nodes and by verifying the company's 'Milestone' and 'Scoring'. However, even if the approval ratio is 80% or more, the VAT guarantee ratio cannot exceed 80%. ex1) If receiving a dividend after a startup investment - If the Master nodes' voting approval rate for the investment in the company is 60%, the VAT guarantee rate is 60% - If the Master nodes' voting approval rate for the investment in the company is 90%, the VAT guarantee rate is 80% ex2) If receiving a profit share after a startup investment - If the Master nodes' voting approval rate for the investment in the company is 60%, the VAT guarantee rate is 18% Compensation Type Calculation Standard Calculation Formula Guarantee Rate Dividend Profit Distribution Investment decision voting 30% of investment decision voting affirmation rate of the Master affirmation rate of the Master nodes nodes VAT Guarantee Rate = Ratio VAT Guarantee Rate = Ratio of of Votes in Favor Votes in Favor X 0.3 VAT 50%-80% VAT 15%-30%

28 28 Dsion White Paper Startup Funding on Blockchain Platform VAT is a value token that guarantees part of the investment of Staking investor who invested in a startup. VAT is operated with funds from VAT Funds Storage. VAT is sent to the address of the wallet that DSN was sent at a 1VAT = 1DSN ratio, according to the VAT guarantee rate. The set VAT guarantee rate is stored in the Dsion blockchain as a smart contract. 6 If the Staking investor finds that there is a problem with the initial investment decision (investment progress or investment suspension) for an individual company determined by a vote of the Master node prior to the investment, they may file an objection when the investing Staking investor votes are more than 30% in favor. a) In response to the Staking investor's objection, the Sub nodes verify the company's 'Milestone' and 'Scoring' and decide the initial investment (investment progress or investment suspension) with a decision approved by 50% or more. b) The Staking investors cannot raise objections on the same agenda with respect to decisions made by Sub nodes' voting. 7 Startups that have received investment must apply Dsion's Dapp to record their investments in Dsion's blockchain. a) If the recording is not possible because Dsion's Dapp does not apply at the time of the investment, it should be immediately recorded in the blockchain when Dapp is applied. 8 Staking investors can monitor the management of funds and business progress status of the company through Funding Management, which is information recorded in the blockchain after the investment has progressed.

29 29 Dsion White Paper Startup Funding on Blockchain Platform 2-3) Investment management process through the blockchain after startup investment [Image] Investment management process through the blockchain after startup investment 1 Six months after the initial investment in the startup, Master nodes will vote to make the secondary investment decision and will vote on individual startups, and the secondary investment will be made if the approval is 50% or more. a) When the secondary investment is paid to the startup, the Master nodes re-verify the company's 'Milestone' and 'Scoring' to determine additional investment. 2 When executing the secondary investment of the startup, the vote of the Master nodes proceeds, and if the approval is 50% or more, the second investment proceeds, but if the approval is less than 50%, the secondary investment is stopped. a) If the secondary investment in the startup proceeds, the investment will proceed according to the established procedure. b) If the secondary investment in the startup is suspended, the secondary investment will not proceed and the investment will be terminated at the first investment.

30 30 Dsion White Paper Startup Funding on Blockchain Platform If the secondary investment of the company is terminated, 50% of the total initial investment (Investment Fund and Staking investors' investment) will be returned to the investors. Upon return of the secondary investment, the first VAT value token issued to the Staking investor will be burned and a new VAT value token will be issued based on the executed first investment. 3 If the Staking investor finds that there is a problem with the secondary investment decision (investment progress or investment suspension) for an individual company determined by the Master node voting, they may file an objection when the participating Staking investor votes are more than 30%. a) In response to the appeal of the Staking investor, the subnode verifies the company's 'Milestone' and 'Scoring' and decides on the secondary investment (investment progress or investment suspension) with a vote of more than 50%. b) The Staking investor cannot object to the same agenda with respect to the decision made by the subnode through voting.

31 31 Dsion White Paper Startup Funding on Blockchain Platform 2-4) Paying dividends or profit distribution to Staking investors Staking investors are paid in the form of a dividend or profit distribution as compensation for investment after investment in the startup ) Dividend payment to Staking investors [Image] Paying dividends to the Staking investors that made the startup investment [Image] Principal Repayment and VAT Burn

32 32 Dsion White Paper Startup Funding on Blockchain Platform 1 Staking investors invested in startups receive dividends as compensation for investment. 2 Dividends on investments will be made in January and July of each year after a year has passed after the initial investment payment. 3 Dividends on startup investments will be distributed according to the dividend rate stated by the company in 'Milestone' and the invested DSN ratio before the investment decision. Dividend payment standard for Staking investors * Staking investors receive dividends according to the ratio of DSN amount invested in each company. * Staking investor allocates to Staking investor an additional amount equal to the basic dividend for the amount invested in the Investment Fund Fund. Therefore, the Staking investor receives twice the dividends, basic dividend + additional dividend, for the investment. Dividend payment standard for Staking investors = Basic dividend + Additional dividend (the same amount as the basic dividend) a) The remaining dividends after the additional dividends to the Staking investor from the dividends on the investment funds will be credited to the Investment Fund. b) Depending on the performance of the startup business invested at the time of dividend, it may be less than the dividend rate the company stated in the 'Milestone.' 4 1% of dividends of startup investments are credited to the Reserve Fund. 5 If the invested startup fails to pay three or more consecutive dividends at the time of the dividend, and the total number of unpaid dividends is more than five, the Master node stops investing in the company and collects the investment principal. 6 On the principal repayment date that the company stated in the 'Milestone' during startup investment decision stage, the Staking investor will be reimbursed for the investment. a) If the decision is made to repay the investment made in the startup, the investment cannot be extended. b) The Staking investor will be reimbursed for the DSN amount invested on the principal redemption date. c) The principal of the Investment Fund invested by the authority of the Master node will be redeemed and credited to the same Investment Fund. 7 Once the principal repayment for the investment has been completed, the VAT value assurance token that the Staking investor owns will automatically be burned.

33 33 Dsion White Paper Startup Funding on Blockchain Platform a) If the Staking investor's principal repayment after the investment is less than the amount guaranteed by the VAT value assurance token, additional reimbursement in the amount of the issued VAT value assurance token will come from the VAT Fund ) Profit Distribution to Staking investors If the startup chooses the profit distribution method instead of the dividend plan when stating the Milestone before the investment and the Staking investor invests in the revenue sharing method, they will be consistently allocated to the revenue of the startup. [Image] Profit distribution to Staking investors [Image] Redemption of VAT if profit distribution is 0

34 34 Dsion White Paper Startup Funding on Blockchain Platform 1 Investment Fund funds invested in the startup and the Staking investor's investment funds are distributed to the company's profits in return for the investment. 2 The distribution of investment profits will be made in January and July of each year after a year has passed after the initial investment payment. 3 Profit distribution method is set by the startup using Dsion's Smart Contract or Dapp as a percentage of the sales. (e.g. 10% of sales through Dapp) a) Invested startups programs their services to generate sales using Dsion's Smart Contract or Dapp. b) If the invested startup is delayed in applying Dsion's Dapp, their services will use Smart Contracts to proceed, then apply Dapp to provide the service as soon as possible. c) Invested startups pay annually according to the distribution rate for the sales through Smart Contract and Dapp, until the end of the service without any additional period assessment, based on the investor and profit distribution method. 4 The profit for startup investment is distributed according to the profit distribution ratio stated by the company in 'Milestone' before the investment decision and the DSN ratio. a) Depending on the distribution rate of revenue through Dsion 's Smart Contract and Dapp, the DSN is managed separately in 'Milestone' and locked until the time of profit distribution. Staking investor Profit Distribution Standard * The Staking investor receives profit distribution according to the ratio based on the invested DSN amount. * Staking investor will distribute the profit share for the amount invested in with the Investment Fund to the Staking investor as the same amount as the basic profit distribution. In other words, Staking investor receives a two-fold profit share on the basis of the basic profit share + additional profit share. Revenue Distribution Payment Standard = Basic Profit Share + Additional Profit Share (the same amount as the basic profit share) b) After distributing additional profit to the Staking investors from the distribution of profits for the Investment Fund, the remaining profit distribution is credited to the Investment Fund. 5 1% of the profit share for startup investments is credited to the Reserve Fund.

35 35 Dsion White Paper Startup Funding on Blockchain Platform 6 If the company's business is troubled after the startup investment and the profit share is 0 KRW, the VAT Fund will repay the stake investors according to the guaranteed rate of the VAT value token guarantees. 7 Once the repayment for the investment has been completed, the stake investor's VAT value assurance tokens are automatically burned. 3. Strategy to Maintain Dsion Value and Prevent Inflation 1) Utilizing the Reserve Fund [Image] Utilizing the Reserve Fund A blockchain generates a block and links it to the previous block to prevent content from being corrupted. This task incurs costs for resources, and there is block compensation to cover them. Block compensation offsets the resource cost by paying DSN to the node that generated the block. However, inflation may occur where the block compensation reduces the value of the DSN. To address this problem, Dsion constructs the system in the following way:

36 36 Dsion White Paper Startup Funding on Blockchain Platform 1-1) Establishment of Reserve Fund 1% of the dividend or profit distribution will be credited to the Reserve Fund when the dividend or profit distribution is made for the Investment Storage Fund and the Staking investor's investment in the startup as a result of the vote of the Master nodes. 1-2) The Role of the Reserve Fund to Prevent Inflation a) The Master nodes can vote to determine the burn of the DSNs deposited in the Reserve Fund if the value of the DSN is lowered as a result of the DSN being issued through continuous block generation in the blockchain. b) If there is no decline in the value of the DSN or risk of inflation, the Master node may vote to transfer a portion of the DSN in the Reserve Fund to the Investment Fund to be used as startup investment funds. 2) Split Payment of Investment Startups supported by investment will be paid in two installments to prevent large numbers of DSNs from being released within a short period of time and unfairly operating after the investment. Startups proceeding with investment support are funded by 50% of the total amount, and before the second investment is paid, the Master node re-verifies the company's 'Milestone' and 'Scoring' to determine additional investment. Investments are not supported if the secondary investment is suspended due to the Master node voting. This solves the problem of inflation after a large number of DSNs are released in a short period of time, and the problem of running unfairly after the investment. 3) Utilizing Investment Fees If the startup investment is confirmed, 1% of the total investment will be burned first. If the investment proceeds normally, only 1% will be burned, but if investment and retrievement are repeated, the amount to be burned can increase. Due to normal investment, the total issue volume of DSNs will not increase significantly, which will prevent the drop in DSN value due to inflation. The Dsion platform continues to invest in startups according to its original role. Thus, even if the block compensation according to the block generation of the Master node is paid, the total issue amount of the DSN can be flexibly adjusted.

37 37 Dsion White Paper Startup Funding on Blockchain Platform 4) Dsion Value Retention Strategy Synthesis Dsion's solution to inflation is complementary. If the startup is active and a dividend or profit distribution is paid, a part of it can be burned. If it does not operate normally, a proportion of the investment will be retrieved and reinvested before the investment is paid, leading to a burn. This can suppress inflation due to block compensation and the split investment plays the role of suppressing inflation due to oversupply in a short period of time. In addition to this, DSN retrievement for paying dividends or profit distribution, and holding DSNs for investment will generate continuous demand and enable harmonization of supply and demand. Coin Name Inflation Solutions Additional Problems Bitcoin Ethereum Eos Dsion * Reduce block compensation through half-life - Limit the total number of coins * Reduce block compensation through half-life * Burn a portion of the purchase of resources * Partial burn upon investment progress * Split investment limits distribution in a short period * Part of dividend or profit distribution may be credited and burned. * If the operating cost is higher than the compensation rate, it should be operated at a loss * Failure to maintain network can reduce security * Inflation occurs because there is no limit on the number of coins * A large amount of volume is released in a short period through ICO etc. * Will not be burned if resources are fixed -

38 38 Dsion White Paper Startup Funding on Blockchain Platform 4. Dsion Blockchain Platform Expansion Strategy 1) Dsion strategy for platform expansion and value enhancement To continue to expand and enhance the value of the Dsion platform, new companies must join the Dsion platform using the DSN coin. As more companies join the Dsion platform on an ongoing basis, it will be a platform to enhance the present value and survive into the future. The Dsion platform will start with an ICO and four companies will join our Dsion platform and build value together. The participating companies are Coinslide, Spo Bit, GGF (GGFighter), and Geekfluencer, and will go together with those four companies with a single goal of expanding the Dsion platform. To achieve this goal, we propose the following methods: [Image] Dsion platform expansion and value enhancement

39 39 Dsion White Paper Startup Funding on Blockchain Platform 1-1) Exchange and feedback with platform participating companies The Dsion platform starts with four partners working on different projects. Partners armed with robust items that can compete in the market contribute to the platform expansion by joining the Dsion platform. Companies participating in the platform can also expand the value of their business through the Dsion platform. If the value of the Dsion platform is validated through such a process, a virtuous cycle structure will be achieved in which the Dsion platform is continuously expanded as more companies participate in the platform. 1-2) Startup inflow strategy for the Dsion platform In the early stage of the Dsion platform, startups should be introduced into the platform with a variety of marketing. a) The Dsion Global Startup Challenge will be held around the world as a core marketing strategy. The first host country will be from Asia, including the Philippines, Singapore, Hong Kong, Thailand, Japan, and Vietnam. The second will be held in various countries around the world. Applications from various countries will be accepted, and we will select the startups to be invested through expert judging, online voting, and on-the-spot voting in each country. The invested companies should participate in the Dsion platform. b) Through these events, we will discover and invest in creative and growth-oriented startups and lead them into the Dsion platform to solve the difficulties of early platform expansion. 1-3) Steady support for Dsion platform participants Companies that grow after participating in the platform may not feel the need for the platform, or growth may become stagnant. To prevent this, the Dsion platform will constantly improve and grow with participating companies as a win-win solution. We also actively take feedback from participating companies and strengthen the platform. To this end, APIs and blockchain networks are developed to improve performance and convenience. The Dsion platform aims to become a pioneer in the blockchain platform that is steadily growing with rapid response and flexibility changes taking into account market conditions.

40 40 Dsion White Paper Startup Funding on Blockchain Platform 2) Participating companies and roles with the Dsion platform launch The Dsion platform starts a blockchain business with four participating companies. The four partners will make a significant contribution to platform expansion and value enhancement. They will also play an important role in maintaining the fair value of Dsion and will be a good example of a successful blockchain business as a benchmarking model for startups who will participate in user expansion and the Dsion platform. 2-1) Coinslide [Image] Coinslide client screen Coinslide is a platform that gives users rewards through the lock screen, which is the starting screen on mobile devices. Instead of using its own way to earn points, which is used by companies that have a lock screen business, they give users a coin that has no limit on usage. Users can use Dsion coin, Bitcoin, and Ethereum in offline stores around the world and exchange them for local currency. It provides users with the following benefits: Reward incentives (Dsion Coin, Bitcoin, Ethereum, etc.) Information and content Slide Wallet & Coin It provides reward incentives in exchange for using the lock screen. The format of the reward incentive is based on Coins provided by Dsion, which can be converted to various other coins. How

41 41 Dsion White Paper Startup Funding on Blockchain Platform it provides reward incentives is also different from existing ones. In the past, users earned one point per advertisement viewed in the form that consumers directly select and watch advertisements from the lock screen. However, users who use this method can earn very few reward points for one month. Coinslide uses a subscription method to improve this and to give users more rewards. This method is very simple and designed for the user. The basic rules are as follows: Users can subscribe to 30 ads per month by default. The number of subscriptions is proportional to time. The number of subscriptions can be changed according to the user's activity index. The user activity index increases or decreases as the quality of the content is evaluated. The usage rules are very simple. Coinslide does not require anything else from the user. The user only has to lend the lock screen to Coinslide. As a reward for this, it will provide the user with a set monthly reward. The uniqueness of Coinslide is also included here. This is the activity index of the user. The user has the privilege to evaluate the advertisement, information, and content provided. These evaluations are converted into an activity index. This activity index increases the number of subscriptions which can pay more rewards to the user. Such a virtuous cycle is more user friendly and does not force the user to do anything. The correct evaluation from the user can bring positive synergy to the advertiser providing the advertisement as well as to the producer producing the content. Coinslide is special in the way it provides information and content. It is not a format in which information producers unilaterally provide information and content, instead any user can produce and provide information and content. There have been various platforms that can provide information and content in the past. Blogs, homepages, YouTube, Twitter, communities, and so on. Coinslide has a special difference from platforms to date. This means that the content produced by the user is exposed naturally on the lock screen of other users. It is the biggest differentiation from the existing platform. The content was exposed according to the platform on which the user operates according to the similarity algorithm of the other content or the user's searches. However, Coinslide is a platform that can provide content more directly by exposing content produced by users on a lock screen that can be seen by anyone using a mobile device.

42 42 Dsion White Paper Startup Funding on Blockchain Platform 2-2) GGF(GGFighter) The esports tournament platform, GGF, started in 2017 with the motto of We pay for your gameplay in Korea, one of the major esports countries, and is developing an Independent esports Tournament Platform for gamers and partners. GGF plans to offer a new gaming platform to a number of global gamers and partners who love esports and offers the following benefits: Various tournaments and challenges for everyone The GGF platform provides daily, weekly, seasonal competitions and challenges, and provides organization and management of partner competitions or gamer-private events. GGF creates profiles for gamers and their friends and team members, and provides a variety of competitions/stats and a solution that allows gamers or teams to enjoy and play games against each other more with the matchmaking based on their level. GGF provides an EcoSystem that allows gamers to earn their "reward" by enjoying something they like. This is a business model that follows the latest trend of redistributing advertising profit generated by running a platform to gamers and providing users with [platform offerings (reputation) + economic benefit (money)] like the 'YouTube' or 'AfreecaTV.' Partner companies - such as small and medium sized game companies and esports advertisers - can simply and easily host or sponsor partner esports competitions, making it easier and more intimate to connect with gamers (target customers). [Image] GGF Ecosystem

43 43 Dsion White Paper Startup Funding on Blockchain Platform [Image] GGF service screen GGF is under development for the commercialization service in Q4 of 2018 and plans to launch global services around Asia in At the same time, as a partner of Dsion, GGF plans to utilize cryptocurrency as the in-platform currency and develop its platform to a new level by applying cryptocurrency. By using Smart Contracts, GGF allows users to distribute participation fees and the prize money for a variety of premium competitions on the platform fairly and without any fear of fraud. (GGF Premium competitions will only be available in service countries that allow Wagering. (betting)

44 44 Dsion White Paper Startup Funding on Blockchain Platform 2-3) Spo-bit Spo-bit offers betting games for fantasy sports. Fantasy Sports is a kind of simulation game in which a team of virtual players is drawn from players in each actual game, and ratings of each player are scored based on certain criteria to compete against the overall rating or win/loss between teams. It was developed based on American professional sports such as baseball, football, and basketball which developed statistical and quantitative records of various statistics. Such statistics as hits, RBI, runs, and ERA, etc. are counted per game, and are calculated as points, and then the team's total score is calculated. With the launch of Fantasy Sports Live as a platform for real-time data analysis due to the Internet boom and mobile diffusion, daily fantasy sports (DFund Storage) began to appear. NBC launched SnapDraft in 2008, and FanDuel was named DFund Storage site of the year after its release in In 2014 and 2015, two competitive services, DraftKings and FanDuel, will grow into a unicorn enterprise. In the United States, as the fantasy sports progressed, interest in the records of each sport increased. Spo-bit is in the service of various fantasy sporting events such as NBA, EPL, NFL, and MLB. The service provides all the information for enjoying fantasy sports such as news of players, game schedules, game information, player information, and team situations in real time. This allows users to bet on their preferred teams and players, compete with a variety of users, check their ranks and earn cash prizes. Users can purchase Dsion and other coins with the money earned. The Spo-bit service process is used as follows:

45 45 Dsion White Paper Startup Funding on Blockchain Platform [Image] Introduction to Spo-Bit 1 The Main Lobby is configured to check the current EPL and NBA games with a list of contestable contest entries, news of the participating players, and the remaining amount of money that can be purchased at a glance in real time. 2 Organize your own club with a line-up of the selectable players in the contest to participate. 3 After the participating Contest, you can fairly and quickly check your team's score, ranking, results of other participants, and their rankings and earned prize money. (Gold) 4 Purchase cryptocurrency that you can buy based on the money you earn. However, the number of purchases is fluctuating daily according to the self-payment reserve ratio, because it can respond to bank-runs, currency exchange, and legal problems. According to the Fund StorageTA, a fantasy sports trading association, there are more than 50 million users in the US and Canada in 2017, with an estimated market size of over $ 3.3 billion, which has grown faster than any sports or games. Since 2011, Fantasy Sports users have grown by 25% each year. With media and mobile expansion, FanDuel and DraftKings have attracted more investment than $300 million from companies like Comcast, NBC Sports and Time Warner. In 2015, the average consumption per user reached $257.

46 46 Dsion White Paper Startup Funding on Blockchain Platform [Image] Global fantasy sports usage status According to the data of 2018 Fund StorageATA, the users of fantasy sports in the North American market are 59.3M and the market size is $3.3 billion. The European market is 118M users and the market size is $5.8 billion. However, the Asian market is unfamiliar with the field of fantasy sports. At the same time, the market potential is endless. According to the above data, potential users will surpass the North American market with 89 million users and a market size of $3.5 billion. Spo-bit is a leader in the Asian market, aimed to become a unicorn company in the field of fantasy sports.

47 47 Dsion White Paper Startup Funding on Blockchain Platform 2-4) Geekfluencer The global online advertising market is now changing beyond the digital age, with new ways of marketing. In the digital advertising market, the amount of influencer marketing is growing every year, and the effect is also large, and it is expected to occupy a large proportion of the entire market for the time being. Also, it is expected that various business projects will be available through this. In 2018, advertisers will spend 40.2% of their budget on online advertising. This is a big increase from 37.6 percent in By 2020, online advertising is expected to account for 44.6% of total advertising spending. Influencer marketing services are available on a variety of platform types. However, it is hard to find a platform that makes it easier to use and be consistently discovered by micro influencers. Geekfluencer serves as a window to get campaigns that can be easily carried out by influencers and easily provides data-based results to advertisers for their ongoing advertising marketing. The main advantages compared to existing platforms are the easy use, detailed data, and scalability. By using micro influencers as the main target, it simplifies the registration procedure and usage so that the influencers have easy access. From the standpoint of the advertiser, a system is configured that can be directly set up by a simple setting method. It was not prepared for micro influencers, general users, and as a comprehensive marketing form to be included in the future influencer marketing, but it enables required various public relations activities on the same platform. For example, distributing press releases, viral marketing of promotional materials, etc. will be available to meet as much customer needs as possible and maximize the utilization of various media.

48 48 Dsion White Paper Startup Funding on Blockchain Platform [Image] Geekfluencer client screen Geekfluencer extends to a general public platform in order to allow a more diverse user experience to begin with a professional marketing platform for influencers, and to a platform of interest to gather experts from each field. It will expand so that various user groups can enjoy and receive various rewards according to their activities. All platforms are linked with local Dsion, E-cash, and various point systems in consideration of multi-lingual and local market conditions, and have secured partnership and interworking so that they can enjoy in each country.

49 49 Dsion White Paper Startup Funding on Blockchain Platform 5. Roadmap 18/10/02 일부수정 Year Month Contents 2017 December March August September Blockchain funding platform initial concept Blockchain startup investment design and technical research Dsion blockchain platform project team construction and planning completion Completion of startup funding algorithm through the blockchain Patent application for Dsion startup funding blockchain platform Dsion Private sale progress October November December January February March April May July August September November Host a startup investment contest in the Philippines Host a startup investment contest in Japan Dsion 1st Pre sale Host a startup investment finals contest in Korea DPC Spo-Bit launches official global English service Dsion 2nd Pre sale Host a startup investment finals contest in Korea [for winning startups from Philippines, Singapore, and Korea] DPC GGF launches official service in Korea Dsion Public sale DPC Spo-bit launches formal service in Asia (Service in Thailand, Vietnam, Turkey, Europe) DPC Geekfluencer launches beta service in Philippines, Finland, Australia DPC Coinslide launches official serivce in Philippines Listed on the Japanese Q Cryptocurrency Exchange DPC Coinslide launches official service in Korea DPC Geekfluencer launches official service in Philippines, Vietnam, Indonesia, Thailand DPC GGF launches official global service DPC Geekfluencer launches official global service Listed on the global cryptocurrency B exchange Dsion launches blockchain main net Listed on Korea C cryptocurrency exchange DPC Coinslide launches official service in Southeast Asia Dsion startup funding project commissioned [Start accepting startups that want to invest] Dsion Project 1st Startup Funding Listed on Korea large-sized C cryptocurrency exchange Listed on the global B cryptocurrency exchange

50 50 Dsion White Paper Startup Funding on Blockchain Platform 6. Token Sale and ICO Funds 1) Dsion token information and allocation plan This white paper does not offer, advise or solicit securities or any form of investment. Dsion does not give customers any ownership or other interest in Dsion. Dsion's DSN tokens are not considered stocks in any jurisdiction. All decisions and actions are made at Customer's own risk and discretion. 1-1) About Dsion Tokens Classification Contents Token name Dsion Token symbol DSN Platform ERC 2.0 Total issue volume 1,000,000,000 DSN Sales quota 550,000,000 DSN Soft cap 45,000,000 DSN Hard cap 550,000,000 DSN Ether ratio 1ETH = 2,000 DSN 1-2) Dsion token allocation plan Classification Ratio Sale amount Bonus Sales schedule Lock-up period Private sale 10% 100,000,000 DSN 20% ~ months First Pre sale 20% 200,000,000 DSN 15% ~ months Second Pre sale 15% 150,000,000 DSN 10% ~ month Public sale 10% 100,000,000 DSN 5% January 2019 None * Schedule may change according to the situation. Please check the homepage notifications.

51 51 Dsion White Paper Startup Funding on Blockchain Platform The number of tokens sold is issued at 1 ETH = 2,000 DSN. (If the ETH price fluctuates significantly, the number of tokens based on 1ETH may change with advance notification) For Dsion Token Sale participation, a simple KYC procedure will be commenced after signing up at the Dsion homepage, and will be available for confirmed members only. Dsion Token Sale is only available through Ethereum. Given Dsion tokens can be checked in the Dsion Wallet in your personal account. The Dsion token is an ERC20 based Token, and a Sale participant can check the payment history in his / her wallet after Ethereum transfer. Dsion token will be exchanged with Dsion coin at the 1: 1 exchange rate after the launch of Dsion mainnet in July ) Dsion Token Allocation [Image 1] Dsion token allocation configuration Dsion tokens will be issued with a total of 1 billion (1,000,000,000) to be distributed as shown above. The distribution of tokens will be allocated to 550 million units, 55% of the total volume, through private sales, pre sales, and public sales. The amount of money raised for each sale, the bonus rate, and the actual exchange rate are shown in Figure 1. If the amount of the private sale or pre sale is not achieved, the unsold items at each stage are sold in the public sale. However, after the public sale finishes, all unsaleable items are burned.

52 52 Dsion White Paper Startup Funding on Blockchain Platform More information on token sales and distribution will be posted on the homepage. Of the remaining 45%, 20% to 200 million tokens are also reserved for platform operating resources and community activation. Another 20% will be allocated to Dsion in a locked-up form and will be used to increase the value of Dsion by distributing it to future team members and partners joining Dsion. The remaining 5% will be used for bounties and air drops. Of the total 45%, excluding the total bounty amount of 5%, the 40% amount of DSN tokens will be locked up for 1 year. Meanwhile, the tokens used for private sale and pre sale exchange are the Dsion Genesis (DSNG) tokens rather than the Dsion (DSN) tokens. A DSNG is a temporary token that has no real value itself and represents a sort of 'right' that can be exchanged with a DSN at a 1: 1 ratio if the DSN is publicly available. The reason for issuing Dsion Genesis Tokens (DSNG) is as follows: 1 Need to add and develop the various technical contents described in the white paper in the source code of actual DSN. 2 Preparation to adjust the exchange rate to protect investors' rights if the price of Ethereum, the standard coin for the platform, surges or falls in the future. For these reasons, the Genesis Token issuance is a commonly used method in ICO. The initial Dsion token sales policy is fixed at 1ETH = 2,000 DSN and will be sold as such. However, when it is judged that the price fluctuation of Ethereum is large, it can be sold in the changed form described below after advance notification on the homepage. To avoid any loss of pre sale or public sale participants, the Dsion token market prices are determined by the following two formulas: 1 Pre sale It is determined by the average price of Ethereum during the private sale and the price of Ethereum at the starting time of pre sale. The price of Etherum applied to the calculation is based on the market value at Investing.com, and the average price of the Ethereum in the private sale period is the median of the highest price and the lowest price in the period. Since the pre sale proceeds over 6 weeks, the Dsion token price during the pre sale period will be updated once a day and determined by the price of Ethereum at the time of renewal.

53 53 Dsion White Paper Startup Funding on Blockchain Platform Pr Pr Pr max Pr min Pr Pr Pr Pr Pr max Pr Pr min Pr Pr 2 Public sale It is determined by the average price of Ethereum during the pre sale and the price of Etherum at the start of the public sale. The calculation application method is the same as the existing pre sale. However, the market prices from the end of the pre sale period until the start of the second pre sale are not reflected. Pr max Pr min Pr max Pr Pr min Pr Pr Dsion tokens purchased through the pre sale and public sale are delivered after the completion of the KYC process. In order to stabilize the market, Dsion owned tokens (except for the 5% for bounties) are restricted from being transferred for one year from the initial distribution. The token sale funding will be used as follows for a successful project progress: pre sale and public sale.

54 54 Dsion White Paper Startup Funding on Blockchain Platform 3) Dsion token Raise allocation. [Scenario 1: USD 5M+] 40% project investment 10% liquidity reserves 20% platform development 20% operations and marketing 10% team and advisor rewards In this scenario, we aim at a strategy to secure a large number of specific markets based on the possibility of applying Dsion. Fundamentally, a $5 million funding gives us the resources to validate the business model and gain early traction. We will produce an initial build with scalable technology and a measurable, repeatable market approach. In this robust position, we will use the company's reserve tokens to increase our capital and achieve our goal of being a global platform.

55 55 Dsion White Paper Startup Funding on Blockchain Platform [Scenario 2: USD 20M+] 45% project investment 10% liquidity reserves 20% platform development 18% operations and marketing 7% team and advisor rewards In this scenario, we aim to reach a broad market through solid resources. A $20 million fund gives Dsion and its partners the opportunity to take control of the market with aggressive marketing and operations, as well as validate our business model.

56 56 Dsion White Paper Startup Funding on Blockchain Platform [Scenario 3: USD 40M+] 50% project investment 10% liquidity reserves 18% platform development 17% operations and marketing 5% team and advisor rewards Once we reach our goal, we can target the global platform as a resource that impacts true change. Dsion and its partners' product development and market entry approaches adhere to the Lean process for initial verification, initial feedback, and frequent repetition. The difference in this funding scenario is securing the resources to quickly expand to pursue regional partnerships around the world and to fulfill our commitment to the global platform. Most importantly, this scenario allows financial support to fully accomplish the project fund. It is significant to increase actual startup support by allocating more ratios to project funds, without providing more financial support than needed for incentive rates of teams and advisors, operations, marketing, and platform development. We will pursue regional partnerships around the world and secure resources that can scale quickly to fulfill our commitment to the global platform.

57 57 Dsion White Paper Startup Funding on Blockchain Platform 7. Dsion Team 1) Team

58 58 Dsion White Paper Startup Funding on Blockchain Platform

59 59 Dsion White Paper Startup Funding on Blockchain Platform 2) Adviser