Distribution of $PPC tokens
Use Of Proceeds
- 25% Branding and Marketing
- 20% Core Piper Net Development
- 20% Legal & Financial
- 15% IT Infastructure
- 10% Bounty & Overhead
- 5% Management
Frequently Asked Question
PPC is the digital token representing the computing power of the PIPERnet.
Before Pied Piper envisioned a new internet, it was a simple app to detect infringement of music copyrights – a side project of lowly Hooli employee Richard Hendricks. But buried within this consumer-facing service was something much more valuable: a world-beating compression algorithm.
Once others caught wind of the promise of his algorithm, Richard found himself in the middle of a bidding war between two of the Valley’s major players. Hooli CEO Gavin Belson pounced with a ten million dollar acquisition offer, while VC Peter Gregory offered a $200,000 seed round to start a new company. The stress of the decision took a physical toll on Richard, but in the end he picked Gregory and the power to see his tech through to its fullest potential.
With the backing of Gregory’s fund Raviga, Hendricks assembled his team: Dinesh Chugtai, Bertram Gilfoyle, and Jared Dunn, all working together out of Erlich Bachman’s incubator. The company’s first great test came at TechCrunch Disrupt. After a challenge from Hooli’s compression competitor Nucleus, Richard pulled an all-nighter to invent a new approach to compression: middle-out. In the finals of the competition, Richard’s middle-out algorithm surpassed the theoretical limit and achieved the highest Weissman score ever recorded. Pied Piper took first place at Disrupt.
Pied Piper’s moment of triumph didn’t last long. Their champion Peter Gregory passed away and Gavin Belson slapped the team with a massive lawsuit, rendering them damaged goods to all potential investors. Fortunately, Richard came across Russ Hanneman, the one man in the Valley who didn’t wince at impending litigation.
After a string of failed deals with energy drink Homicide and adult content producer Intersite, a condor egg live stream changed everything. The feed of the egg went viral when a camera technician fell forty feet into a ravine, and Pied Piper’s durability under the traffic proved the strength of the tech. The good news seemed to continue from there: Pied Piper defeated Gavin’s frivolous lawsuit, and Raviga’s new head VC Laurie Bream bought Hanneman out of Pied Piper.
Despite being in full control of Pied Piper for the first time since its inception, Richard found himself uninspired by what he was building. To Richard, PiperChat was a trivial application of his revolutionary middle-out compression algorithm. So Richard left Pied Piper to tackle a brave new venture: launching a decentralized internet.
PiperChat dissolved soon after and the rest of the team joined Richard’s new project. The next obstacle: securing the patent to the peer-to-peer network Richard dreamed of, which, unfortunately, belonged to Gavin Belson. Gavin and Richard embarked on an unlikely partnership, but it didn’t last long – Belson went to Tibet to find himself, and gave Richard full ownership of the patent.
With Gavin off in Tibet, Richard turned to customers for funding. Pied Piper landed a data storage deal with Fiduciated General Insurance and launched Space Saver, an app to maximize mobile storage that would help build out the Pied Piper network of devices. Space Saver made it onto the Hooli App Store’s Top 500 (utilities, sub-group mobile, sub-group storage), and FGI’s data was stored on a sufficient number of “devices.” This feat proved the viability of Richard’s new internet and earned Pied Piper funding from Bream-Hall to start building.
The journey to create a decentralized internet has just begun.