What is the $DIMO token?

$DIMO is the native crypto token of the DIMO protocol that is issued to users and contributors. You can think of it like an airline reward point for your car, but with additional superpowers.

So how does it enhance the DIMO experience for users?

1. Access: When a business like a ridehailing network adds a car and access its data, it pays in $DIMO. See DIP-3: Vehicle Data Access Fees. Similar utility to: ETH, SOL, HNT

2. Governance: $DIMO token holders are able to vote on how the protocol works. They control decisions like: upgrades to software code; who can license the IP; how fees are generated; and how rewards are issued. See Governance. Similar utility to: UNI, GTC, and other governance tokens.

3. Alignment: It aligns the incentives of other participants in the ecosystem with staking. Users, data providers, and data storage nodes can lock up $DIMO tokens for extra rewards and benefits. This gives them skin in the game. Similar utility to: ETH, GRT, LPT

4. Community: It shows who’s a part of the community. $DIMO holders may receive special access to various app features, events, and more. Similar utility to: FWB, BANK.

Why not just pay drivers in cash?

Communities built on top of blockchain technology, whereby control is given to those users, are stronger, better, and more equitable. The technology is also more transparent, practical, and programmable.

DIMO aims to be a reliable, secure, and open base layer for connected devices. The only way to achieve these goals is to build DIMO as a platform where control is vested in a diverse collection of users and stakeholders who all have skin in the game.

We believe this new paradigm is here to stay and will become increasingly common.

DIMO is built by a decentralized network of contributors and this section illustrates a compelling and plausible vision for what such contributors may build. Ultimately, what various groups and individuals contribute is their decision and may include the things listed here, things not listed here, or nothing at all. This section does not make any commitments about what may be built and the future of DIMO may differ.

DIMO reserves the right to withhold tokens from users whose wallet addresses are flagged for compliance issues, including but not limited to anti-money laundering, or sanctions laws, and other applicable laws. Nothing in these documents represents a promise or guarantee of any future actions and the DIMO Foundation is not bound to distribute DIMO tokens to any user.