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DIMO

DIMO

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About DIMO

DIMO is the utility token of ‘Digital Infrastructure for Moving Objects’, a platform that aims to revolutionize the vehicle data market. Through the use of hardware devices, vehicle owners can collect and monetize their data by selling it directly to data consumers. DIMO tokens are paid to data providers and also function as the platform’s governance token.

DIMO, short for Digital Infrastructure for Moving Objects, is a cryptocurrency that aims to enhance the way vehicle owners interact with their cars. It provides a platform for users to collect, use, and monetize data from their vehicles. Built with open-source components, DIMO aims to increase transparency, privacy, and reliability in IoT networks, thereby fostering trust among users and developers. It operates on the Ethereum Virtual Machine, using blockchain technology, cryptography, and real-world hardware to establish a blockchain-based identity for users, vehicles, and more.

DIMO operates by using licensed hardware devices and approved software APIs to cryptographically attach telemetry data to vehicles and trips. It allows companies to issue verifiable credentials or other blockchain-based identity primitives to users, vehicles, or trips, providing a claim. Users have the ability to self-custody their data and choose which data they want to share and with whom. Furthermore, app developers and data consumers can acquire a license to advance new technologies, build improved versions of existing businesses, and create entirely new app categories.

DIMO has potential use cases. It allows vehicle owners to get more out of their cars by collecting, using, and monetizing the data from their vehicles. Developers and data consumers can build apps and services on this open platform, potentially reducing the cost of delivering mobility products and services. Companies can issue verifiable credentials or other blockchain-based identity primitives to users, vehicles, or trips, making a claim. Users can self-custody their data and choose which bits of data they want to share with whom on a case-by-case basis.

The history of DIMO is rooted in the desire to improve the way vehicle owners interact with their cars. The platform was built with open-source components to aim for increased transparency, privacy, and reliability in IoT networks. It uses the Ethereum Virtual Machine, cryptography, open-source software, and real-world hardware to establish a blockchain-based identity for users, vehicles, trips, and more. Over time, DIMO has grown to allow companies to issue verifiable credentials or other blockchain-based identity primitives to users, vehicles, or trips, providing a claim. It has also given users the ability to self-custody their data and choose which data they want to share and with whom.

The key features of DIMO's NFTs include uniqueness, rarity, and indivisibility. Each token has a unique identifier directly linked to one blockchain address, and each token has an owner. The ownership information is publicly available, making each token distinguishable from the others. In the context of gaming, DIMO's NFTs aim to bring changes to the way gamers think about online gaming and in-game asset purchases. They aim to provide players with a different perspective on in-game asset acquisitions. This is achieved by granting players ownership of their in-game assets, proving the scarcity of in-game NFT purchases, and allowing for interoperability of assets across different gaming environments. This approach seeks to bring changes to gaming economies and the development of new games.

DIMO strives to address the challenges specific to the gaming sector by leveraging blockchain technology to foster a safer environment. It uses a device called DIMO AutoPi, which connects to a vehicle and streams data to an app. This data is then rewarded with $DIMO tokens, a native blockchain-based token of the DIMO cryptocurrency protocol. The DIMO AutoPi device is backed with individual device IDs with $DIMO, making users $DIMO token holders with the potential to influence various aspects of the protocol. Decisions such as software code upgrades, protocols, standards, and reward distribution are made through a voting process. DIMO and AutoPi miners utilize a secure element in the hardware, collecting data directly from vehicles. The Trusted Execution Environment (TEE) in modern ARM processors is designed to safeguard against spoofing, striving for a safer environment for executing transactions directly on the device. DIMO's approach seeks to foster a user-centric environment.

DIMO has formed several strategic partnerships to enhance user experiences. One notable collaboration is with Marble, a digital wallet for insurance. This partnership strives to enable DIMO users to utilize their vehicle data to receive personalized, data-driven insurance policies, potentially optimizing their insurance policies. Another collaboration is with MetaStudio, a Portuguese game studio. This partnership, facilitated through Immutable, an Ethereum Layer 2 scaling solution provider, seeks to contribute to the evolution of the gaming metaverse. By integrating with Immutable's Layer 2 blockchain infrastructure, MetaStudio aims to provide players with a dynamic gaming experience and unique benefits such as zero gas fees for peer-to-peer trading and verifiable ownership of in-game assets. These partnerships indicate DIMO's intention to explore the potential of blockchain technology in various sectors, including gaming and insurance.

DIMO, provides several play-to-earn opportunities for its users. When drivers connect their cars and stream data, they receive DIMO tokens as non-monetary rewards. This reward process is part of the platform's weekly drop (baseline issuance), and users may receive more non-monetary rewards when app developers and data consumers utilize their data or vehicle access (marketplace issuance). Moreover, DIMO tokens are required for transacting on the platform, such as acquiring data or hardware, and for accessing products and services. The platform also allows DIMO token holders to vote on how the protocol works, giving them a say in decisions like software code upgrades, protocols and standards, licensing, fee generation, and reward issuance. On another note, businesses involved in producing DIMO-compatible hardware, transmitting user data, and building apps are required to stake and/or utilize DIMO tokens for maintaining a license and deploying products to the network. The staking process is akin to a commitment mechanism, fostering sustained engagement with the token.

Participation in DIMO's governance and decision-making processes is facilitated through the DIMO Governance Hub. As a holder of DIMO tokens, one has the opportunity to vote on DIMO Improvement Proposals (DIPs). These proposals can potentially influence various aspects of the DIMO ecosystem, from smart contract upgrades to token allocation for grants. To participate, voting power can be delegated. This process involves assigning tokens to someone, which could be oneself, without transferring them out of one's wallet. Delegation can be changed at any time, and the person to whom one delegates can vote with the tokens in all future votes until redelegation occurs. Proposals for voting can be found within the DIMO Governance Hub, and DIPs can be viewed on the appropriate platforms.

DIMO's AutoPi device is a plug-and-play hardware product that can be integrated with any car manufactured after 1988. It communicates with the vehicle's message bus, known as the CAN-BUS, to extract signal information sent by the car. The device also signs the data using an included Ethereum wallet to aim to ensure its authenticity. Users can add this hardware to their vehicle as a primary data collection option or layer it onto existing API connectivity options provided by the vehicle's manufacturer. The device uses modern ARM processors to protect against spoofing and offers a location for executing transactions on the device itself. The AutoPi device collects data directly from vehicles and signs it using secp256k1 ECDSA signing and verification, striving to enhance the integrity and authenticity of the data being sent over the network. The data is validated upon receipt and checked against historical data from the device and other meta-information contained in the payload.

Market

Portugal Market Stats

Market cap

€55.3M

Volume (24h)

€1.2M

Circulating supply

219.5M DIMO

Typical hold time

22 days

Popularity

#545

All time high

€0.78

Price change (1h)

-1.55%

Price change (24h)

+5.53%

Price change (7d)

-6.18%

Portugal News about DIMO

DL News • May 02, 24

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BeInCrypto • May 02, 24

Solana Launches Gaming API on Google Cloud

Solana Labs teams with Google Cloud, launching the GameShift API to simplify blockchain gaming development, aiming for mainstream adoption with easier tech integration.The post Solana Launches Gaming API on Google Cloud appeared first on BeInCrypto.

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The Block • May 02, 24

Total number of Uniswap wallets more than doubles in the past year

The doubling comes as Uniswap surpassed a historic $2 trillion in cumulative trading volume in early April.

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BeInCrypto • May 02, 24

Top VCs Join EYWA’s Seed Round Led by Curve’s Founder

EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two new backers: Fenbushi ...

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The Defiant • May 02, 24

Crypto Markets Bounce After Fed Leaves Interest Rates Unchanged

Bitcoin and Ether are up 4% in the past 24 hours, while Solana has surged 12%.

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Unchained • May 02, 24

Tether’s Record $4.5 Billion Q1 Profit Highlights Its Dominance of the Stablecoin Industry

Tether’s record first-quarter profit is an indicator of its ongoing dominance, stablecoin experts say, keeping the stablecoin issuer in pole position as regulation attempts mount. Though Tether recorded a profit of $4.52 billion in the first quarter, with most of that coming from its gains on its...

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DIMO is on the decline this week.

The price of DIMO has decreased by 1.55% in the last hour and increased by 5.53% in the past 24 hours. DIMO’s price has also fallen by 6.18% in the past week. The current price is €0.25 per DIMO with a 24-hour trading volume of €1.16M. Currently, DIMO is valued at 67.90% below its all time high of €0.78. This all-time high was the highest price paid for DIMO since its launch.

The current circulating supply of DIMO is 219,477,154.005 DIMO which means that DIMO has as total market cap of 219,477,154.005.

FAQ

What is the current price of DIMO?

We update our DIMO to EUR currency in real-time. Get the live price of DIMO on Coinbase.

What is the market cap of DIMO?

The current market cap of DIMO is €55.31M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of DIMO?

The all-time high of DIMO is €0.78. This all-time high is highest price paid for DIMO since it was launched.

What is the 24 hour trading volume of DIMO?

Over the last 24 hours, the trading volume of DIMO is €1.16M.

What other assets are similar to DIMO?

Assets that have a similar market cap to DIMO include Metars Genesis, Dora Factory, BinaryX, and many others. To see a full list, see our comparable market cap assets.

How many DIMO are there?

The current circulating supply of DIMO is 219 million.

What is the typical holding time of DIMO?

The median time that Coinbase customers hold DIMO before selling it or sending it to another account or address is 22 days.

What is the relative popularity of DIMO?

DIMO ranks 186 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of DIMO?

Currently, 67% of Coinbase users are buying DIMO. In other words, 67% of Coinbase customers have increased their net position in DIMO over the past 24 hours through trading.

Can I buy DIMO on Coinbase?

Yes, DIMO is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy DIMO guide.