Token Distribution
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The DM3 token is the utility and governance token of the DM3 network and is designed as a community token. This means that a large proportion of the tokens are issued to the community in several ways. The initial number of possible tokens is 100M. Several token pools are set up, although their size only represents the upper limits. Only the tokens that are issued are generated. The distribution takes place in 4 pools:
As an incentive for the development team, this team will receive DM3 tokens if conditions are met that the first stage of standardization will be achieved by several protocols, services, or applications using the DM3 protocol and apps using the DM3 embedded components. For this purpose, 5M DM3 tokens are reserved.
A maximum of 15M DM3 tokens from the initial distribution are earmarked for external investors. These will be sold to institutional investors, Angle investors, etc., who are particularly active in the field of Web3 messaging (including contributing to the dissemination of the standard through their network) and thus support the objectives of DM3.
10M of the tokens from the initial distribution are reserved for the operation of DM3. These tokens can be used or sold by dm3.org for important tasks. In addition, these tokens will also be used to provide liquidity.
These tokens are intended for the first four years after publication of the token. In the following years, further tokens can be minted by dm3.org if there is a corresponding governance decision.
The DM3 token is a community token, i.e., the majority of the tokens are to be held and used by the community. To support the dissemination of the DM3 standard (see Incentive system for standardization), tokens are issued to various users:
Adoption (interoperability)
Integration (of dm3 components)
Early adopters
Infrastructure provider
The community pools also represent an upper limit on the number of tokens that can be mined. Within these limits, tokens are generated and issued as required. Tokens are distributed from the community pool to early adopters (airdrops). Grants are issued for adoption (interoperability) and integration (DM3 components) to promote the spread of the standard and for providing infrastructure (running message relay nodes).
Grants can be issued as "Retrospective Grants" (where the community and dm3.org determine the allocation) or as "Development Grants" to incentivize and support the development of integrations or features. In any case, the grant amount depends not on the amount of work contributed but on the benefit for the DM3 network.
To achieve an even better distribution of the tokens, a portion of the community tokens might be sold to interested users (up to 10M tokens).
Shares of the community pool for adoption (interoperability) are awarded to messaging protocols or services that implement the DM3 protocol and thus make their solution DM3-interoperable. The following functions must be implemented for this:
Implementation of the basic protocol for sending and receiving DM3 messages
Integration of the registry in ENS (directly or via CCIP) to make the users (= their DM3 profile) accessible. Tokens are allocated according to their usefulness for the DM3 network.
Development of DM3 infrastructure (DM3 message relay node)
In addition to the protocol, DM3 also provides components as "embedded widgets" that can be integrated into existing applications to have messaging functionality based on DM3. Shares of the community pool are allocated for applications that use these components. The following functions must be implemented:
Integration of one or more components into a dApp
Provision of the necessary infrastructure or integration into existing infrastructure to enable the messaging functions.
Early adopters are users of DM3-based applications who have a DM3 profile and have published it, thus supporting the growth of the DM3 messaging ecosystem. These users will receive tokens in several rounds, although the exact conditions will only be announced before the distribution. These distributions aim to
Promote the use of DM3-based products,
Promote the spread of the standard,
to provide early users with tokens for the utilities (e.g., spam protection) and thus motivate using these functions.
Providers of independent message relay nodes, which provide service for the community or are assigned for personal use, will also be awarded tokens.
In particular, to achieve an even better distribution of the tokens, some from the community pool tokens can be offered in a public sale.
This is optional and will be conducted as circumstances require (e.g., improvement of token distribution) and when the market environment is favorable.
[10], a venture/product studio for Web3 applications, realized the initial specification and development of DM3 from the idea to the MVP. With the spin-off of dm3.org, all IP, resources, and rights were transferred. This early support was compensated with options on future DM3 tokens. 20M tokens were reserved for this purpose.
