DIP-7: Referrals
Headline: Allocating a pool of $DIMO to launch a formal referral program
Author: The DIMO Foundation
Submitter(s): The DIMO Foundation [0xCED3c922200559128930180d3f0bfFd4d9f4F123]
Status: Deployed
Voting URL: Snapshot
Discussion Forum: Discord #🗳️governance forum
Vote Type: Level 1
Abstract
This proposal re-establishes a formal referral program for DIMO users.
When one user refers another user who connects their first car to DIMO, both parties will receive 50 $DIMO at the end of the that week as a one-time bonus at roughly the same time as their baseline rewards. Referral bonuses will be available until the $DIMO token allocation runs out or the program is amended by a future governance vote.
Motivation
This referral program is designed to accelerate new user onboarding, while also rewarding existing users for their continued support.
Specification
Establishing a $DIMO pool for referral bonuses
This proposal sets aside a pool of 2,500,000 $DIMO to fund this referral program, meaning that only the first 25,000 referrals will earn this reward (2,500,000 $DIMO / 50 $DIMO * 2 users per referral). This proposal may be amended by a future governance vote to top off this pool or otherwise alter referrals.
Any user, whether they've connected a car or not, is eligible to generate a unique six digit referral code or referral link within the DIMO Mobile app or any other app approved by the DIMO Foundation. This code or link can be shared intimately (text it directly to a friend) or broadly (Tweeted out to the world). The referrer's personal information is not ascertainable from the referral code itself, although it's possible that in certain circumstances another user would be able to guess the blockchain address of the referrer by auditing the on-chain payout.
Any user can refer multiple new users and earn the bonus for each new user.
Being referred
New users can use a referral link or enter a referral code as a part of onboarding as a one-time bonus. In order to be eligible, the new user must:
Use a referral link or e
Enter a referral code prior to connecting their first car;Must be minting that specific car for the first time; and
Must fully connect their vehicle and qualify for one week of baseline rewards (see DIP-2: Baseline Issuance).
Payout
A one-time referral bonus of 50 $DIMO is paid out to at approximately 5:00 UTC the following Monday to both parties when a referred user meets all eligibility requirements (as specified in Being referred) and while token supplies last (as specified in #establishing-a-usddimo-pool-for-referral-bonuses).
Adjustments
The DIMO Foundation may adjust the referral amount, criteria for earning a referral, and which apps in addition to DIMO Mobile may participate in the referral program. Also, it may delay the payout to investigate suspicious activity if there are signs of a malicious or dishonest attack. The DIMO Foundation may withhold referral bonuses from a user indefinitely at its discretion if has good reason to believe the bonus was not earned in good faith.
Implementation
If passed, this proposal will only be enacted when a licensed DIMO client adds functionality, compliant with this specification, to enable referrals. Digital Infrastructure Inc. is currently developing new functionality into the DIMO Mobile app allowing users to generate and input referral codes. Successful referrals would be tracked and shared with the DIMO Foundation, who will conduct the weekly issuance.
Copyright
Copyright and related rights waived via CC0
Citation
Please cite this document as:
The DIMO Foundation, "DIP-7: Referrals", no. 7, February 2023. [Online serial]. Available: [https://github.com/DIMO-Network/DIP]
Changelog
Mar 3, 2023: adjusted the date that the proposal is in review from March 3 to March 15. This is to create more time discussion and hopefully the introduction of a fourth proposal related to marketplace issuance that can be voted alongside the three that are currently in review.
Mar 13, 2023: extended the review period from March 15 to March 22. This is to continue to provide more time for discussion and hopefully the introduction of a fourth proposal related to marketplace issuance that can be voted alongside the three that are currently in review.
Mar 13, 2023: altered name from "Referral Bonus" to "Referral Round 1" to clarify that future referral programs need not be amendments to this proposal.
July 6, 2024: disclaimer adjusted, title changed per DIP 1-15: Amendment 1, and updated per DIP-7: Amendment 1.
Disclaimer
The contract addresses for $DIMO are 0x5fab9761d60419c9eeebe3915a8fa1ed7e8d2e1b on Ethereum and 0xE261D618a959aFfFd53168Cd07D12E37B26761db on Polygon. Please always confirm that you are interacting with these contract addresses and not those of a fraudulent imitator. This proposal may not be enacted if it violates Cayman Islands law. Please triple check that any communications are authentic as it’s common for scammers to try to trick you into sending them crypto or into revealing your private keys.
Certain statements in this document constitute forward-looking statements. The words “may,” “will,” “should,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “expect,” “continue,” and similar expressions or the negatives thereof are generally intended to identify forward-looking statements. Such forward-looking statements, including the intended actions and performance objectives, involve known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance, or achievements to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and nothing in this document represents a promise of specific work to be completed in the future.
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