What's up for vote at DIMO August 2023?
Hello DIMO community!
Before you dive into our newest DIMO Improvement Proposals (DIPs), we want to remind you that you as a DIMO token holder can delegate your voting power to anybody or delegate to yourself so you can vote directly on these proposals. This must be done within the next seven days before the vote goes live. Also, note that proposals are in “Review” for a week prior to the vote, so feedback can still be incorporated.
Better yet, any person or group with a sufficient number of tokens between them can submit a proposal for voting. For now, sit back and read a quick summary of the changes that are up for vote, starting today!
Did someone say new hardware?
It’s time to start decentralizing the DIMO hardware ecosystem!
DIP-10 is a proposal to grant a license to Hashdog to produce new DIMO-compatible hardware that runs on Helium’s network. This Mini OBD Dongle will sell at a lower price point (both in terms of upfront cost and ongoing connectivity) due to its LoRaWAN/Bluetooth connectivity. .
In general, granting licenses to new manufacturers will broaden the ecosystem and foster competition with different options for performance, reliability, and cost-effectiveness.
With a new type of hardware connection comes an update to rewards
As a consequence of introducing a new hardware connectivity option, the DIMO Network must also account for how this device will be rewarded from the pool of weekly baseline issuance.
In DIP-2, all software and hardware connections were given their weekly point calculations based on how much data they stream to the network and how direct the connection is.
So in DIP-2 amendment 1, the newly proposed Mini OBD Dongle is allocated weekly points commensurate with the type and amount of data it streams to the network. You can see how the new Mini OBD Dongle hardware connection fits in the table below!
The DIMO Foundation gearing up…
Lastly, there are two amendments geared towards helping the DIMO Foundation prepare for the network’s next phase.
DIMO has demonstrated impressive growth and excellent technological progress. Combining this momentum with shifting market conditions, the aforementioned DIMO-compatible hardware launching soon, expansion into new geographic regions, and the beginnings of the DIMO app and hardware ecosystem currently taking shape, it’s time to be bold!
DIP-6 Amendment 2 grants the DIMO foundation the ability to increase loans to market makers, and adds additional funding to the DIMO Foundation’s annual budget to enable additional exchange listings.
DIP-6 Amendment 3 furthers the DIMO Foundation’s flexibility moving forward by authorizing new terms for selling tokens. This will help the Foundation diversify its holdings, fund ecosystem grants, and other initiatives in a more market efficient manner.
It’s truly an exciting time to be building on DIMO and hopefully the culmination of these proposals gets you excited for what’s to come!
Your participation is encouraged
Voting will go live next week on Thursday (8/24) at 1pm EST, and we encourage all token holders to participate.
As a reminder, you will need to delegate your tokens to yourself, some of our trusted community members, or anybody else with a wallet address on Polygon. More detail to come soon in the DIMO #governance Discord channel, see you there!
DIMO is building a safer, more open, and zero emission mobility future using innovative incentivization mechanisms.