DIP-6: Amendment 3

Headline: Selling a portion of the treasury to diversify assets and fund long-term development

Author: The DIMO Foundation

Submitter(s): The DIMO Foundation [0xCED3c922200559128930180d3f0bfFd4d9f4F123]

Status: Deployed

Voting URL: Snapshot

Discussion Forum: Discord #🗳️governance forum

Vote Type: Level 3


As currently written, DIP-6 gives the DIMO Foundation the unilateral authority to sell up to 25,000,000 $DIMO tokens as needed at a minimum of $0.30 per token.

This amendment would replace these terms, authorizing a sale of tokens from the DIMO Treasury to Digital Infrastructure Inc., the entity which first donated DIMO intellectual property, cash, and $DIMO to the DIMO Foundation, and which continues to operate DIMO Mobile and contribute to the protocol’s development.

Digital Infrastructure Inc. would repurchase 48,000,000 $DIMO tokens from the treasury at $0.11 per token, infusing the DIMO treasury with $5,280,000 USD. $0.11 is roughly 40% above market price as of the time of writing. These tokens would be subject to a mutually agreeable lockup.

It is the intention of both parties to execute the sale as quickly as possible, but transactions such as this are complicated and factors outside of the control of either party may prevent such a deal from closing, even if the proposal passes. Specifically, Digital Infrastructure Inc. is still in the process of raising capital required for the token acquisition.

Due to conflicts of interest, Digital Infrastructure Inc. investors and employees who hold $DIMO may only vote “abstain” for this proposal.


The DIMO Foundation has an opportunity to lock-in millions of dollars in resources and rapidly accelerate development now, but current market conditions prevent $0.30 from being a realistic sale price. Selling 48,000,000 $DIMO tokens to Digital Infrastructure Inc. for $5,280,000 USD has two main benefits:

  1. Diversifying the treasury with USD and USDC stablecoins would ensure long-term resources for the DIMO protocol regardless of short-term market fluctuations; and

  2. The DIMO community would be able to fund grants and other initiatives in a way that does not impact markets when they are distributed (does not require the DIMO Foundation or recipient to sell $DIMO).


// If passed, this proposal would edit the following section within the DIP-6 Specification section:

Treasury Initiatives

Additionally, tThis proposal authorizes the DIMO Foundation to sell up to 25,000,000 $DIMO tokens and to loan up to 25,000,000 $DIMO tokens to market makers.

Additionally, for a period of 120 days following the passage of this proposal, the DIMO Foundation is authorized to sell up to 48,000,000 $DIMO to Digital Infrastructure Inc. for $0.11 per token for a total sum of up to $5,280,000 USD. These tokens would be subject to a mutually agreeable lockup. The purpose of this sale is to diversify the DIMO treasury and provide resources for long-term development.

The DIMO Foundation has already sold 833,333.33 $DIMO tokens at $0.30 in accordance with the original language of this governance proposal. The DIMO Foundation may not sell this specific pool of tokens below $0.30. A minimum one-year lockup is required on token sales unless there is a bona fide expectation that the purchaser will use a majority of those tokens themselves to use DIMO, such as to produce devices or operate a node.

The Foundation will make its best effort to balance regulatory, financial, and strategic considerations to maximize the long-term health of the DIMO protocol.These tokens would come from the unallocated treasury pool of 250,000,000 $DIMO. This may be amended or deals on other terms (e.g., below $0.30) may be authorized by any valid governance vote.


If passed, DIP-6 would be updated as specified above after the four day timelock concludes and the DIMO Foundation would work with Digital Infrastructure Inc. to conduct the token sale promptly.

Copyright and related rights waived via CC0


Please cite this document as:

The DIMO Foundation, " DIP-6: Amendment 3", August 2023. [Online serial]. Available: [https://github.com/DIMO-Network/DIP]



The contract addresses for $DIMO are 0x5fab9761d60419c9eeebe3915a8fa1ed7e8d2e1b on Ethereum and 0xE261D618a959aFfFd53168Cd07D12E37B26761db on Polygon. Please always confirm that you are interacting with these contract addresses and not those of a fraudulent imitator. This proposal may not be enacted if it violates Cayman Islands law. Please triple check that any communications are authentic as it’s common for scammers to try to trick you into sending them crypto or into revealing your private keys.

Last updated