DIMO (DIMO)

Digital Infrastructure for Moving Objects. Vehicle owners use DIMO to get more out of their cars. DIMO apps allow them to collect, use and monetize the data from their vehicles.

Basics

• Based in:
• Started in / Announced on: 2020
• Testnet release: 2021
• Mainnet release: planned (8-2022) for 2022.

History

• From their docs (8-2022):

"DIMO grew out of a product studio and IoT consulting firm called Digital Infrastructure Services in 2020. Our project is heavily inspired by Helium, which demonstrated that token incentives are a capital efficient way to build supply in real-world user-owned IoT networks."

Audits & Exploits

• Bug bounty program can be found [insert here].
• Has done a bunch of audits and reports, one of which was done by Sigma Prime (7-2022). Multiple issues were found, it is unclear if the recommendations have been implemented (10-2022).

Governance

Admin Keys

• From their docs (8-2022):

"$DIMO is an ERC-20 token on the Ethereum blockchain with a 1,000,000,000 token supply. It is currently being held in a multi-signature wallet controlled by the DIMO core team prior to the public launch."

DAO

• From their docs (10-10-2022):

"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.

We’ll seed the initial structure of DIMO so that it will:

1. Make it natural and easy for token holders to delegate their voting power to stewards if the don’t have the time or context to vote themselves (similar to Gitcoin and ENS);
2. Establish special responsibilities for the stewards who reach a certain threshold of delegated voting power (similar to Element and their GSC);
3. Delegate authority and resources so that work can get done faster in dTeams (similar to Yearn and their yTeams);
4. Utilize a proposal documentation and review structure (similar to the one robsolomon.eth designed at ConsenSys) for defining the plans, needs, and risks of dTeams;
5. Introduce time delays before voting execution to allow users and the DAO to exit or intervene (similar to Compound);
6. Utilize best in class tools such as Open Zeppelin Governor, Collab.Land, Snapshot, Tally, and more to organize transparent and programmatic collaboration; and
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."

• From their docs (10-10-2022):

"Similar to many other projects in the space who also use Open Zeppelin Governor or Compound Governor, the voting specifications are:

1. $DIMO holders can vote directly on proposals or can delegate their voting power to someone else without giving up their tokens;
2. Backing of 1% of total token supply is needed to formally raise a proposal;
3. Voting representation of 4% of token supply is needed to reach quorum;
4. There will be a 7 day voting period; and
5. There will be a 4 day timelock after the vote is completed before execution.

It will be highly encouraged for proposals to form on Discord, take shape and debate on Discourse, and poll on Snapshot prior to being raised as a formal proposal for on-chain voting using Tally.

Any person who has been delegated 10,000,000 or more $DIMO is a DIMO Steward and will automatically be considered a Steward. Stewards, both individually and collectively, have special authorities and responsibilities, including the ability to introduce proposals for full community voting and the responsibility to advise and occasionally intervene with other Teams."

Treasury

• From their docs (10-10-2022):

"All profits from data sales flow to DAO treasury via DIMO Pay, a smart contract outlined in DIMO Improvement Proposals (DIPs)."

Token

Token Allocation

• From their docs (8-2022):

"The total supply of 1,000,000,000 $DIMO will be allocated in a manner that lines up with industry average allocations for protocol rewards, the DAO treasury, the core team, and capital partners. A community-first approach is important, which is why we’re allocating an above average 70% of tokens to users and the treasury. 700,000,000 $DIMO will be initially allocated to the community controlled DAO treasury. While no topics are off limits for community governance, the $DIMO supply will take over 8 years for 80% to fully unlock. Teams and individuals that contribute useful work to DIMO will receive $DIMO (and/or other cryptocurrency that the treasury accumulates) in the form of bounties or grants. [450M out fo the 700M will go to rewards of users and drivers]. The remaining 300,000,000 $DIMO will be allocated to DIMO founders and contributors (expected to be roughly 225,000,000) and capital partners who have supported key DIMO development activities (expected to be roughly 75,000,000)."

This effectively means that 45% of the token supply is going to rewards. 30% to insiders and 25% to future contributors. Who decides on the grants is yet unclear, whether it is the DAO or the DIMO foundation would make a big difference in the community or the insiders having the upper hand in governance.

• From their docs (8-2022):

"$DIMO is an ERC-20 token on the Ethereum blockchain with a 1,000,000,000 token supply. It is currently being held in a multi-signature wallet controlled by the DIMO core team prior to the public launch."

Utility

• From Our Network (29-10-2022):

"As cars relay real-time data to the DIMO network, vehicle owners receive rewards in the form of DIMO tokens, which govern the DIMO network."

Staking and enhanced features are also included to token benefits (8-2022).

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here]. "DIMO is built in the open with open source components." (8-2022)

Implementations

• Built on: Ethereum
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Staking

• From their docs (8-2022):

When data consumers and app developers agree to DIMO’s terms of service, they’ll put up a deposit (their stake) of $DIMO that can be taken away (slashed) if they misuse user data. This keeps dispute resolution simple, and transparent. The more data they consume, the more $DIMO they’ll need to stake. This has the added benefit of aligning them with DIMO as they’ll need to own more $DIMO tokens to get access to additional data, and users stand to be compensated more if their privacy is compromised.

Privacy

• From their docs (8-2022):

"We adhere to principles of transparency (no security through secrecy) and least privilege. Our communication channels are end-to-end encrypted/ All data access is scoped by roles and we rely on strong user authentication to identify requesters. All HTTP based traffic to dimo.zone, and related subdomains is routed through Cloudflare. TCP traffic is routed directly to the deployment. All of DIMO's kubernetes run within private VPCs on AWS. All traffic is encrypted with a minimum supported TLS version of 1.2 and HSTS for any communication between user and platform, device to platform or between services in the same VPC. DIMO uses hardware based security modules for storage of asymmetric and symmetric encryption keys. Private keys are never exposed anywhere outside of the HSM and DIMO cannot retrieve them."

Roadmap

• Can be found here (8-2022):

"January 2021 - April 2022

DIMO early users tested the network, while earning testnet rewards points.✅

April - October 2022 | >>We are here<<📍

Get started by connecting your car to DIMO and be ready when the network launches officially.

October 2022 - January 2023

Deploying applications and services that leverage your vehicle data collected with DIMO.

& Video Support January 2023 - May 2023

Expand the horizons of DIMO with new hardware and support for video applications on the DIMO Network.

June 2023 & beyond

Bringing DIMO global."

Usage

• From Our Network (29-10-2022):

"With over 3,500 vehicles connected to the network, DIMO is collecting thousands of daily streaming data from electric and conventional vehicles. Of the cars connected to the DIMO network, 41% are Teslas. DIMO has a high percentage of Tesla owners because of Tesla’s internal vehicle software which allows Tesla owners to download the DIMO app today without any hardware, while other conventional car models must purchase and install DIMO hardware devices to connect and earn rewards. Still, the DIMO network has a wide variety of vehicles, with over 439 car models accounted for in the network. "

Competition

• From Our Network (29-10-2022):

"Compared to physical infra networks like Helium that focus primarily on enterprise applications, DIMO provides a consumer app that serves as a person’s wallet (e.g. ID and registration) and provides valuable car insights for owners like their car’s real time financial data (e.g. resale value) or battery health for electric vehicles.

Team, Funding and Partners

Team

• Full team can be found [here].
• Rob Solomon; works on the DAO structure via his design he created while at Consensys

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