An outstanding cryptoasset project with minor concerns regarding distribution and risk management. Uniquely combining proof of work and proof of stake to secure its network. Experimenting with decentralized governance in the Politeia. Resulting in a token score of 45 out of 50.

1. Cryptoasset Investor’s Seeking
Exposure to Governancet
Should Consider Decred

2. Token Score: 45 out of 50 Summary
Decred is an outstanding cryptoasset project
with minor concerns regarding distribution and
risk management. Uniquely combining proof of
work and proof of stake to secure its network.
Experimenting with decentralized governance
in the Politeia. Resulting in a token score of 45
out of 50.

3. Overview
• Decred employs a consensus voting model, the Politeia, to govern it’s
blockchain in a decentralized fashion.
• It’s the first project to host an on-chain user vote.
• Sustainable funding available for project enhancements from block
reward.
• Network secured by a hybrid Proof of Work / Proof of Stake Model

4. Cryptoeconomics Score: 5 out of 5
Defensible Tokenziation
Properly aligns incentives across stakeholders
Mechanism
Mechanism to generate value
Mechanism to generate network effects

5. Investability: 4.5 out of 5
½ Disciplined well structured capital allocation process
Proven natural demand (Adoption increasing over time)
Mechanism to capture value
Brand
Defensibility

6. Distribution: 3.5 out of 5
Insider skin in the game (allocations subject to vestings and lock ups
reflecting preferred status obatining tokens)
Optimized for long term usage of product
× Equitable token sale (At least 80% pre-product / 50% if product is live)
½ Broad Distribution (Should not be accredited / institutional only)
Limited Supply

7. Team: 5 out of 5
Track record of historical achievements
Distinctive combination of skills
Unique qualifications for tackling problem
Experience building distributed computer systems
Transparent and consistent ethical behavior

8. Project: 5 out of 5
Project is live and has existing users
Well written high quality white paper
Demonstrated understanding of landscape of possible competitors,
substitutes
Unique Value Proposition
Open Source

9. Scalability: 5 out of 5
Project leads can hire and develop
Clearly defined roadmap to obtain share of market
Continually Improving Developer Experience
Sustainable burn rate
Geographically distributed usage

10. Securability: 4.5 out of 5
Widespread distribution of miners / stakers
High volume of nodes
1
2
Systematic approach to dealing with bugs
Untiered Rewards
Easily Stored Securely

11. Decentralization: 5 out of 5
Widespread Developer Contributions
Roadmap for decentralized governance
Lack of concentrated holders
Would function normally without creators
Global

12. Engagement: 4 out of 5
Active commenting reddit
Developer adoption protocol
Long lasting ongoing discussions in Slack, Telegram, Discord, etc…
Positive Twitter sentiment
×Uptrend in Google Trends

13. Risk Management: 3.5 out of 5
½ Code Audit
×Low funding risk (fiat)
Anti fragile - gets stronger when stressed
Attack Risk
Regulatory Risk

14. Continue Reading
Crypto Jungle Write Up on the DCR Token
Full Decred Report in PDF

15. Stay up to date on Steve’s latest Cryptoasset Research
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Visit the Author at Cryptojungle.io
Steve Miller
Steve is a CFA® Charterholder and founder of Crypto Jungle. A site devoted to
helping people hack through the weeds to find the crypto gems. The CFA
designation is globally recognized and attests to a charterholder’s success in a
rigorous and comprehensive study program in the field of investment
management and research analysis.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
On Twitter @TokenAuditor

16. Disclaimer
• Information in this presentation is presented solely for educational and entertainment
purposes although every effort has been made to ensure the information in the
presentation is correct. The author does not assume and hereby disclaims any liability to
any party for any loss, damage, or disrupt in any matter whatsoever caused by any errors
or omissions whether such errors or omissions result from negligence, accident, or any
other cause. The information provided should not be taken as expert instruction or
commands. The information contained therein as legal, financial, tax, or other
professional services advice. While all attempts have been made to verify the
information provided in the presentation, neither the authors, nor the publisher assumes
any responsibility for errors, omissions, or contrary interpretations of the subject matter
herein. Neither the authors, nor the publisher assumes any responsibility or liability
whatsoever on the behalf of the user of these materials. Every circumstance is different
and the advice and strategies contained herein may not be suitable for your situation.
You are responsible for your own choices, actions, and results. Please seek the services
of competent professionals as needed. Any perceived slight of any individual or
organization is purely unintentional.