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Governance 10 min read

DIMO Summer Governance Vote

July 8, 2024

You’ve heard people all over talking about an important vote coming up. They’re not talking about US presidents or the French Parliament. They’re talking about new DIMO governance proposals.

Right now in week 1, all proposals are currently in Review meaning you can give feedback in Discord in the Governance channel that could be incorporated into the proposals before they go up for vote. In week 2, these proposals will go up to vote.

If you have $DIMO tokens on Polygon or Ethereum, you have until the end of this week to register to vote or you can delegate your vote to someone else. Go do that now by clicking here.

Here’s a summary of what is coming up for vote.

Vote 1: The all new DIMO Credit

Earlier this year, the DIMO Ignite team funded a grant to develop the DIMO Credit (aka the DCX token), a token that could simplify payments inside the DIMO ecosystem for mainstream adoption. It’s now live and ready to go.

While the $DIMO token’s price fluctuates moment to moment, the DCX token has a stable value of $0.001 always. This gives businesses and users a non-volatile way to pay for things like data access fees, license fees, vehicle minting fees, and more.

This token doesn’t compete with $DIMO, it compliments it. DCX can only be created by burning $DIMO; the amount burned depends on the current market price.

Vote 1, if passed, would change the cost to add a DIMO device to the network from its current price of 25 $DIMO to 4,000 DCX (equivalent to $4). This is just the start and other fees can be added using DCX in the future.

See DIP 4-5: Amendment 2.

Vote 2: Baseline rewards for integrations providers

There’s no way around the cellular, cloud, and/or licensing fees to connect vehicles. Even the software only integrations aren’t free to maintain. These costs are passed on to the driver in the upfront cost of their device and might have soon led to a paid monthly subscription for all users.

This proposal provides a better way. By cutting integrations providers in on the weekly baseline rewards, they can recoup their costs in $DIMO and drivers can avoid ever having to put down a credit card simply to connect to the network.

At current issuance levels, this would come out to somewhere between 2 to 5 $DIMO per week per car and would therefore dilute user earnings by about 12% per month. It's almost as if the network grew by 12% overnight.

See DIP-2: Amendment 2.

Vote 3: Budget

2024 is a big year for DIMO development and this vote authorizes a $4 million budget to fuel that progress.

This spending could cover things like DIMO credits (mentioned above); account abstraction wallet services to solve the security, recovery, and user experience issues with using blockchain; an onchain developer license and app marketplace to supercharge development and adoption; open source node software and device firmware so that other businesses can easily spin up nodes or build compatible devices; improved vehicle decoding so that more vehicles see more data points; and more.

See DIP-6: Amendment 4.

Vote 4: Administrative Renewals

This is a relatively boring vote that passes several administrative proposals. First it grants Digital Infrastructure Inc. and AutoPi permanent licenses for the services they offer to the network. Second, this vote gives Digital Infrastructure Inc. discretion to prevent manipulation in the referrals program by adding CAPTCHAs, deep links, or delays into the process for qualifying for referrals. 

See DIP-11, DIP-12, DIP-13, DIP-1 - 15: Amendment 1, and DIP-7: Amendment 1.

Written by: DIMO Foundation DIMO Foundation

DIMO is building a safer, more open, and zero emission mobility future using innovative incentivization mechanisms.

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