What are $DIMO Rewards?Updated 4 months ago
$DIMO is the native ERC-20 token of the DIMO protocol, rewarding users and contributors for connecting their cars and streaming data. It's essential for transacting on the platform, similar to an airline reward point but with added capabilities.
Why is it useful?
- Platform Transactions: $DIMO is required for data transactions, hardware integration, and future payments for goods and services on the platform. Increased transaction volume leads to more $DIMO being burned, increasing its value.
- Governance: $DIMO holders can vote on protocol upgrades, fee structures, and other key decisions, ensuring that those who use DIMO control its future.
- Ecosystem Alignment: Businesses must stake or spend $DIMO tokens to participate in the ecosystem, aligning their interests with DIMO's long-term success.
- Community Membership: $DIMO holders gain access to exclusive features, events, and benefits, reinforcing their role in the DIMO community.
Why not just pay in cash?
Blockchain-based communities like DIMO are more equitable and transparent, with control given to users rather than venture capitalists, leading to a stronger and more sustainable ecosystem.