Sled: A decentralized ride-sharing Platform
Move the world, one ride at a time.
Features available in Sled
Decentralized Ride-Matching
Utilizes blockchain technology to connect drivers and riders directly without intermediaries. The matching algorithm will be open from the start and any modifications will be done with community directive.
Transparent Fare Calculation
Fares are calculated algorithmically on the blockchain, ensuring transparency and fairness for both drivers and riders. Fares will have a rate of inflation YoY with a default minimum percentage of 1%. The maximum rate of inflation will be decided based on a vote with a ceiling set at 1.5%. Fares will be calculated as a function of distance and time with a multiplier based on location. This means, the cost of a ride for the same distance will be different in Canada vs UK. Similarly, the cost of a ride in Calgary will be different vs cost of a ride in Toronto.
Smart Contract Transactions
Payments are processed through secure smart contracts, which are completely automated. Drivers will be compensated for traffic delays with a pre-calculated increase based on understanding of the current traffic conditions. The smart contract will also penalize drivers who are driving too slow with the intention artificially inflate the prices. This way, drivers are compensated for traffic delays and customers don't end up paying more when drivers take advantage of the system.
Token Rewards System
A loyalty program that rewards users with Sled tokens for frequent use, referrals, and community participation. This benefits both the ecosystem and the actors of the platform. To ensure that we have enough tokens to get this kick started, 5% of the initial supply will be allocated towards rewards.
Real-Time Ride Tracking
Integrated GPS and blockchain technology for real-time tracking of rides and automated status updates. These updates will also help in finalizing fares which can vary due to many reasons such as traffic delays, diversions,
Peer-to-Peer Payments
Riders pay with Sled tokens from their digital wallet setup with the riders app. Riders directly pay these tokens after successful completion of the ride and the tokens reach the drivers wallet. Gas fee will be minimum because Sled is built on the Solana blockchain.
Rating and Review System
Decentralized and transparent review system for drivers and riders, stored on the blockchain to prevent manipulation. Drivers or riders with consistent bad ratings will be banned from the platform.
Driver and Rider Profiles
Blockchain-verified profiles for security and trust, with privacy controls for personal data. This way we ensure that profiles that are created are real. Any information collected by us for KYC purposes will be stored on the blockchain securedly.
Community Governance
Token holders can vote on platform changes, service fees, inflation rate and other key decisions, ensuring a democratic process.
Sustainability Initiatives
Options for riders to choose eco-friendly vehicles, contributing to reduced carbon emissions. Such initiatives will also be rewarded in the ecosystem to promote this behaviour.
Multi-language Support
To cater to a global audience and expand in various regions with ease Sled will offer multi-language support. This ensures that Sled can be adopted globally.
Emergency Response Integration
Features to ensure safety and provide immediate assistance in case of an emergency will directly be integrated on the sled app.
Flexible Payment Withdrawals for Drivers
Drivers can withdraw their earnings at their convenience without waiting for weekly or bi-weekly payouts.
Cross-Platform Compatibility
Accessible via web, iOS, and Android applications, providing a seamless user experience.
Benefits of Using Sled
No Platform Fees for rides: Sled charges a monthly subscription fees from the drivers to sustain as a business. With decentralized operations, Sled can offer rides with no platform fees compared to traditional ride-sharing platforms.
Higher Earnings for Drivers: The reduction in operational costs translates to higher income for drivers.
Enhanced Trust and Security: Blockchain's immutable record-keeping enhances the security and trustworthiness of transactions.
Inclusive and Democratic: Users have a say in the platform's evolution, fostering a sense of community and inclusivity.
Improved Reliability: Decentralized systems can potentially offer more reliable service with less downtime.
Rider and Driver Incentives: The token reward system encourages platform engagement and long-term user retention.
Data Privacy: With blockchain, personal data can be securely encrypted and controlled by the user, enhancing privacy.
Global Accessibility: The platform can be used worldwide, with easy payment options across different currencies.
Transparency in Reviews: Honest and transparent feedback system to help users make informed decisions.
No Price Manipulation: With smart contracts governing pricing, there’s no risk of price manipulation by the platform.
Sustainable Choices: Riders can make eco-friendly choices, appealing to environmentally conscious consumers.
Instant Settlements: Drivers receive payments immediately after ride completion, improving their cash flow.
Safety Features: Integrated safety measures provide users with peace of mind during rides.
User-Friendly: Designed with a focus on a clean and intuitive user interface to ensure ease of use.
Adaptability and Scalability: The platform is built to easily adapt and scale as the service grows in popularity and scope.
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