What Is Dose Token (DOSE)?

Dose token (DOSE) and its platform aim to increase the popularity of the fitness metaverse. The platform is the product of the OliveX gamified fitness ecosystem. An ecosystem is a space with unique features where indirect interactions amongst multiple elements can occur. Dose token is the token offering of the platform.

The DOSE is an ERC-20 fungible token used for purchase and utility within the platform. According to the whitepaper, the Dose acronym specifies four chemicals released in the body on exercising: dopamine, oxytocin, serotonin, and endorphin. A fungible token is one wherein each entity has the same market value. The users can earn these tokens by completing the fitness challenges or workouts. So, the platform aims to reward users for completing an activity on the platform. The users can then utilize the fungible tokens to convert them into NFT or unlock items on the platform.

Initially, the platform aims to offer the fungible tokens on the Ethereum mainnet and then bridge it to Polygon layer-2 network. The polygon layer-2 network is where games like Dustland Runners are available. A mainnet helps in the cryptocurrency transactions on a blockchain. The Dose tokens or the NFTs obtained as rewards can unlock other missions. For example, Dustland Runner, a game on the platform, seeks to give users virtual rewards of NFT tokens or DOSE tokens on completion.

Since the rewards go to the winners of these fitness games, the platform aims to allow additional pools of tokens every day. The tokens get split across the multiple games on the platform.

So, accordingly, the distribution of the tokens stands at 20% as gameplay rewards and 15% and 10% each for the individual games. The platform also aims to use the tokens in reserve to support any upcoming projects of fitness metaverse. So far, the company has 5.31% tokens in its reserve and has recorded a private sale of 14% DOSE tokens. The maximum total supply of Dose tokens, according to the whitepaper, is five billion.

History of Dose token (DOSE)

The initial release of the DOSE whitepaper was in September 2021 and was updated in December 2021. The website mentions a ten membered team, including Keith Rumjahn as CEO and Andy Hall as the head of group operations. There are also advisors from different ventures, such as Yat Siu of Animoca Brands and Dylan Boyd from R/GA ventures.