The Dimitra Token
The development of the Dimitra Ecosystem relies on specific principles to create a successful environment of: Inclusion, Collaboration, Acceleration, Community and Opportunity. On September 15, 2021 we will launch the Dimitra Token. Token holders help drive platform growth, ecosystem development, and expedite the delivery of our app to millions of farmers.
The Dimitra Token is a standard implementation of the ERC20 fungible Ethereum token specification. We base our implementation on the secure contract templates provided by OpenZeppelin. ERC20 defines a fungible token standard that is immutably stored on the Ethereum blockchain. Fungible tokens are ownable, transferable, divisible, equatable, and exchangeable with other ERC20 tokens, such as USDC or DAI. ERC20 supports many possibilities, including currencies, points, shares, or voting rights, etc. However, the Dimitra Token is focused on acting as an internal currency that is coupled to an off-chain points program that represents economic value within the Dimitra Ecosystem. These tokens encapsulate a medium of exchange and a store of value within a circular economic engine that is enabled by the Dimitra Platform.
Security is our utmost priority. We base our implementation on the well known and highly trusted ERC20PresetMinterPauser implementation defined by OpenZeppelin. We have also recently completed a full security audit from CertiK (certik.org ) of our DMTR ERC20 token smart contract code to verify maximal security and safety.
Sumsub (https://sumsub.com) is our partner for automated identity verification, KYC/AML, and fraud detection. This service allows users to be verified within 3 to 5 minutes, while scanning identity documents for forgery detection, such as photoshopped passports, etc. This will help make the on-boarding process simple, fast, and secure, for our online Dimitra Token buyers.
All financial flows (excluding on-ramps and off-ramps) between all Dimitra Platform participants (farmers, suppliers, service providers, governments, token holders, and Dimitra Inc.) are denominated in either units of Dimitra Points (internally within the private platform) or in units of Dimitra Tokens (externally from the platform on the public Ethereum Blockchain).
Many farmers may never choose to exchange their points into DMTR tokens. For most farmers, Dimitra Points are used in an internal economy within the Dimitra ecosystem, which is directly exchanged for agricultural inputs (such as insecticides and fertilizers etc.), as well as for agricultural advice, consulting services, and actionable data from sensors and satellites. Smallholder farmers are able to trade in DMTR tokens, but they will never be required to do so within the Dimitra ecosystem. The most important use of the DMTR token is to enable external funding of agricultural economics and to provide growth capital for developing the Dimitra Platform on a larger global scale.
Farmers will typically never need to execute Ethereum contracts to participate in the system. Therefore, they will not need to be concerned with the price or volatility of Ethereum transaction gas fees. Farmers primarily use off-chain Dimitra Points in their daily business dealings. These points are recorded on a private consortium blockchain network that arrives at consensus without resorting to costly public Ethereum blockchain consensus. The DMTR token is ERC20, but Dimitra Points are not ERC20.
Using a private consortium blockchain for tracking Dimitra Points and agricultural transactions also enables more control over privacy of financial activities. In this way, certain parties such as participants directly involved in transactions, and in some cases, financial institutions and governmental regulators, may have permissions to view transaction details, but disinterested third parties would be excluded from viewing such details. Regulators could also be granted permissions to modify or undo transactions in extreme cases where national legal concerns may dictate.
Dimitra Point ownership data is stored off-chain, and represented internally within the Dimitra Platform in a decentralized database. However, these points are validated by independent partners who operate Dimitra validator nodes around the world. Point records are periodically hashed and rolled-up on a regular basis, and written to the Ethereum Blockchain for long term immutability and audit verifiability. In contrast, all DMTR Token transactions are immediately recorded directly on the immutable public Ethereum Blockchain and preserved for all time.
The conversion between Dimitra Points and Dimitra Tokens is mediated internally within the Dimitra Platform, balancing the supply and demand of Dimitra Points with a treasury function that is implemented by our validator node partners, to ensure that demand does not exceed supply without financial inputs from farmers and other partners. Dimitra will mint Dimitra Tokens according to our published token issuance schedule and then distributed directly to our new token holders.
Dimitra Points will be managed and invested into various internal grants and funding programs to be used within the Dimitra economy to promote agricultural commerce and development within the Dimitra Ecosystem. These Dimitra Points may also be redeemed back into the form of Dimitra Tokens within our internal token exchange. These Dimitra Tokens will also be tradeable on decentralized public token exchanges.
Farmers will generally use Dimitra Points rather than Dimitra Tokens in their daily business dealings, however anyone who resides in, or is a citizen of, a whitelisted country, and who submits the required KYC details, would be eligible to buy/sell/exchange Dimitra Tokens. In contrast, Dimitra Points are optimized for privacy and low latency and low transaction costs, avoiding volatile gas costs associated with on-chain Ethereum transactions.
Points are created by the performance of specific activities and are converted into Tokens in order to fund technical or service activities performed by ecosystem partners. Dimitra Points are used by farmers for consuming Dimitra Platform services. Dimitra Points are periodically validated, rolled up, hashed, and written to the Ethereum Blockchain to mitigate the risk of tampering, duplication, or double spending.
How the Dimitra Token Will Be Used
The Dimitra Token will provide a catalyst to accelerate growth of our already successful “Connected Farmer” platform. We have established our business in over 60 nations by developing partnerships and securing agreements to implement our software . We are ready to accelerate our mission, drive adoption, and impact smallholder farmers globally.
Dimitra has solved many of the challenges related to the integration of Blockchain, with Mobile, and Machine Learning technologies. Together, these integrated technologies, economically driven by the Dimitra token, will empower the economic growth of smallholder farmers worldwide.
The Dimitra Token will provide “Operational Grants” to allow for software regionalization, foster third party software development, and fund deployment and infrastructure, as well as provide training and support. Our platform will be licensed to government ministries, NGO’s and farmer associations to enable smallholder farmers with the “Connected Farmer Platform” free of charge. This platform enables farmers access to advanced technology, providing them actionable data driven insights, breaking the cycle of poverty, enriching their economy through increased crop yields and healthier livestock.
The Dimitra Token derives its value as a direct result of its utility within the Dimitra Ecosystem, and is designed to connect seamlessly within the Dimitra Platform. It mirrors a shift toward open token networks wherein users create and derive all intrinsic platform value through thoughtfully engineered economic incentives. The token’s valuation growth becomes an enabler to the ecosystem and naturally incentivizes farmer participation.
Since the Dimitra token is backed only by its actual usage and not by extrinsic assets, it is critical to model its economic utility. This model is more efficient and productive than traditional business models. The Dimitra Token has a capped supply, and offers a simple staking process via the Dimitra.io website. As the Dimitra Token is an ERC20 based token launched on the Ethereum network, transactions are always verifiable and transparent via Etherscan on the Ethereum blockchain.
Staking is a mechanism for Dimitra Token participants to earn passive income and increase investor token value over time. Dimitra will work with leading custody providers to ensure staked tokens are fully insured. Staking Dimitra Tokens will also have the positive effect of potentially increasing the value of the Dimitra Token as the ecosystem grows.
Dimitra is dedicating 20% of our token supply for staking and rewards for participants and bug bounties. This is designed to incentivize long-term holding of the Dimitra token and reward token holders. Dimitra has a limited number of tokens available for monthly staking rewards. Please consult our Distribution Table to determine the maximum number of tokens allotted for staking rewards. (https://dimitra.io/token-distribution)
Dimitra’s market opportunity is massive as we are operating in one of the world’s largest untapped technology markets. Our economic model provides significant incentive for farmers to adopt our platform. The future of the Dimitra Token is bright indeed.
Peter Thorsteinson is a programmer/instructor/author working in several software technologies, including Machine Learning and Blockchain. Peter has worked in software development for decades with experience in many programming languages and Web technologies. He has also worked on projects involving real-time systems, 3D graphics, and cryptography. He has authored several books and courses on a wide variety of programming languages and technologies. He is also interested in Economics, AI, as well as computer generated music and art. Peter holds a degree in Electrical Engineering from the University of Manitoba. His current interests are focused on trying to make the world a better place using new computing technologies.
Disclaimer
Certain statements herein may constitute forward-looking statements. When used herein, the words “may,” “will,” “should,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “expect,” “continue,” and similar expressions or the negatives thereof are generally intended to identify forward-looking statements. Such forward-looking statements, including the intended actions and performance objectives of Dimitra Incorporated involve known and unknown risks, uncertainties, and other important factors that could cause the actual results, performance, or achievements of Dimitra Incorporated in its development of the system, network, its components, and the tokens to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements.
No representation or warranty is made as to future performance or such forward-looking statements. All forward-looking statements herein speak only as of the date hereof. Dimitra Incorporated expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectation with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.
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