Today we’re announcing our intention to operate DIMO as a Decentralized Autonomous Organization (aka DAO) that will be governed by the $DIMO token. This post is just a teaser—we’re keeping it high-level as we’re still in the early stages of designing and deploying the DAO and token. We’ll share highly detailed plans soon.
If you’re unfamiliar with DIMO, we’re building a web3 vehicle connectivity platform that enables drivers to stream data and receive $DIMO tokens. Data consumers and app developers will stake the token and utilize this protocol to access data on EV batteries, autonomous driving system performance, location history, vehicle identity, and other vehicle telemetry to build next generation insurance, vehicle financing services, ride hailing apps, and more.
DIMO can only realize its vision if it’s a reliable, secure, and user-aligned base layer for connected devices. The best way to achieve these goals is to build DIMO as an open source platform where control is vested in a diverse collection of users and stakeholders who all have skin in the game.
We also want DIMO to scale and grow its offering quickly and effectively. By reducing friction and bureaucracy, opening up DIMO to global contributors, creating an operating structure that can scale, and aligning all stakeholders around the $DIMO token, the DIMO platform and the apps on top of it will be built far better and way faster.
$DIMO will very likely be an ERC-20 token on the Ethereum blockchain. It will be allocated several ways—most commonly to drivers who stream their vehicle data, evangelists who refer new drivers, developers who contribute code, and community members who decode vehicle data signals.
Once you receive $DIMO, it will be yours. You can hold it, transfer it, and do whatever else you want with it. It will be used for governance of the DIMO DAO, and likely other uses that we’re still designing (e.g., staking and gated access).
In the works is a robust technical architecture and framework for the token and DAO that we hope excites the most active DAO participants in the web3 world today. One thing we think is relatively unique about DIMO is that we are focused on making sure our DAO has an impact on the physical world, not just spreading digital-only products.
Our vision is to build a community of people who can reshape mobility - the physical act of moving people and goods around. This is a different challenge than building purely digital projects, and we think it’s the frontier of DAOs today and will help bring many millions more people into the web3 world by bringing web3 products to their lives. If we can prove the efficacy of DAOs in reshaping physical infrastructure and public goods, we believe it would be a major step forward for the web3 movement.
At a more tactical level, we’re students of this new organizational design, and we’re incorporating the best practices and tools that the highest functioning DAOs are using today. We’ll share more about voting, delegation, treasury etc. in the near future.
Disclaimer: The $DIMO token does not exist yet. This blog post is making no guarantees about the nature of the DIMO DAO or the $DIMO token or its distribution, which are subject to change based on continued legal, tax, and other design considerations. $DIMO will launch as a governance token with no claim on financial rights and no economic value. Please triple check that any communications from DIMO are authentic as it’s common for scammers to try to trick you into sending them crypto or into revealing your private keys.