How DIMO users come to own the platform
DIMO aims to be a reliable, secure, and open base layer for connected devices. We believe the only way to achieve these goals is to build DIMO as a platform where control is vested in a diverse collection of users and stakeholders who all have skin in the game.
Web 2.0 business models systematically create these incentives, and part of the vision for DIMO is to create a reality where user-owned digital ecosystems are the norm. We're building a better model.
We also want DIMO to scale and grow quickly and effectively so benefits of an open IoT platform can be realized by the entire world. 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 faster.
Digital Infrastructure Inc, AutoPi, and other early partners responsible for building the IP behind DIMO will shift control of the project to a foundation (which we'll refer to as DIMO). Our intent is to operate this entity as a Decentralized Autonomous Organization ("DAO") where holders of the $DIMO token can generate and vote on proposals that control DIMO. There are no self-imposed restrictions on what the DIMO community is able to vote on and do. We expect that some of the key activities of the DIMO foundation will include:
- 1.Designing, deploying, and adjusting rewards pools for drivers and referral bonus programs;
- 2.Allocating authority and resources to subDAOs (called dTeams) and individuals via streams, grants, and bounties. This may fund work such as: building the decentralized data storage infrastructure; determining the optimal method by which vehicle data will be priced and sold; building applications on top of DIMO; and DBC decoding to expand the number of supported vehicles;
- 4.Investing the treasury.
The designs of different DAOs in the industry vary widely. DIMO’s initial structure aims to maximize practicality and efficiency without compromising decentralization, alignment, and security. On the spectrum of DAOs that, on one side are completely flat and vote on everything at the DAO level to DAOs that, on the other side rely on stewards, subDAOs, and delegation to simplify operations, we'll skew towards the latter.
We’ll seed the initial structure of DIMO so that it will:
- 7.Operate as an offshore non-profit foundation to limit liability for DAO participants, simplify tax compliance, and execute contracts in the physical world. Such foundations tend to have administrative costs between $30,000 and $50,000 per year, which would need to be paid out of the DAO's treasury.
After it’s launched, DIMO foundation will be responsible for upgrading itself and tweaking this structure. We’re paying attention to the ideas expressed by Vitalik, Element, and others on improving voting — when feasible, we expect to implement voting vaults, hybrid NFT/$DIMO voting, and quadratic voting.
Our team also considers the unique and existing governance processes around mobility that we’ll need to interact with. Everything from a 100-year-old automaker to a state DMV will need to interact with our platform, and we’re respectful of the fact that transportation is already quite decentralized.
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 if successful, we will help bring many millions more people into the web3 world.