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DIMO Memorandum of Understanding

A detailed description of the DIMO MOU that all manufacturers are required to sign prior to developing DIMO Compatible Devices.
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What is the DIMO MOU?

The DIMO Memorandum of Understanding (MOU) is a non-binding agreement between the DIMO Foundation and a hardware manufacturer. The MOU outlines the steps required for the manufacturer to integrate and onboard their hardware onto the DIMO platform and specifies the support provided by the DIMO foundation and community. The primary objective of this MOU is to ensure that all parties involved are on the same page regarding the next steps in the collaboration. Signing the MOU with the DIMO Foundation is the first step for any manufacturer in obtaining a Manufacturing License, Hardware Device Licence, which are mandatory in order to produce DIMO compatible devices.

Purpose and Reasons for Signing an MOU

By signing the MOU, the manufacturer agrees to complete all necessary steps for the device they intend to bring onto the DIMO platform. The manufacturer will also need to undergo a hardware audit, including a security audit, once the device is manufactured (if it is not already manufactured). This MOU helps to ensure the security and reliability of the DIMO platform.

Key Points of the MOU

  1. 1.
    Obligations of the Parties: The MOU clarifies that no contractual relationship is created between the parties, but they agree to work together in partnership and demonstrate commitment to the Project.
  2. 2.
    Cooperation: The MOU outlines the activities and services for the Project, including applying for a DIMO hardware manufacturer license, designing and building the hardware device, developing software for the device, and receiving DIMO tokens.
  1. 3.
    Resources: The Manufacturer will secure any necessary financing and provide resources for the Project, including tools, equipment, certifications, and a dedicated development team.
  2. 4.
    Communication Strategy: The MOU emphasizes the importance of consistent marketing, public relations, and open communication in line with the aims of the Project.
  1. 5.
    Liability: The MOU states that no liability will arise or be assumed between the parties as a result of this agreement.
  1. 5.
    Dispute Resolution: The MOU outlines a dispute resolution process involving a group of appointed individuals from both parties and an independent third party.
  1. 7.
    Confidentiality: The MOU includes a confidentiality clause to protect sensitive information shared between the parties.
  2. 8.
    Term: The MOU specifies that the arrangements will remain in place until a predetermined date, with the possibility of extension through mutual agreement.
  1. 9.
    Governing Law: The MOU is governed by the laws of the Cayman Islands.
  1. 10.
    Assignment, Amendment, and Severability: The MOU cannot be assigned or transferred without prior written consent and may only be amended or supplemented in writing. Invalid or unenforceable provisions do not affect the remaining provisions of the MOU.

Benefits and Support Provided by the DIMO Foundation

The DIMO Foundation offers various forms of support and resources for manufacturers throughout the integration process. These include:
  1. 1.
    Integration assistance from the Hardware Integration Team.
  1. 2.
    Support in obtaining a Manufacturer Root certificate, granted by the DIMO Foundation after a 100,000 $DIMO stake.
  1. 3.
    Assistance with acquiring tokens and securing appropriate industry certifications.
  1. 4.
    Support in the development of software for the device.
  1. 5.
    Support in obtaining the DIMO Hardware Device License on the DIMO network after meeting all requirements, allowing the manufacturer to mint devices once approved.
By signing the MOU, manufacturers can ensure that there is a clear understanding of what is required to get their hardware is integrated and on boarded onto the DIMO platform in a secure and reliable manner.