Short introduction of the DUA token economics.
Token
DUA is the cryptographic asset implemented as an ERC20 token standard using the OpenZepplin library. It is deployed in Avalanche C-Chain.
Contract: snowtrace.io/token/0xb418417374fca27bb54169d3c777492e6fe17ee7
We chose Avalanche because of its ability to process thousands of transactions per second and confirm those transactions instantly, and then deploy smart contracts for just a tenth of what they cost on Ethereum.
DUA powers the internal economies of dua.com and spotted.de and has three key roles within the ecosystem.
- Unit of value exchange
- Gate/Access token
- Payment method
Revenue
In our model, a percentage of the revenue collected from DUA payments will be reserved for staking rewards, creating a system where funds circulate within the ecosystem. This revenue segment aims to keep the token reward economy flowing and ensure continued use of the token.
Utilities
Matchmaking Tokenized: DUA enables a consumer-centric economy that rewards its users through a tokenized matchmaking experience.
→ Use the apps. Build reputation. Earn DUA. Purchase Premium.
DUA powers the transactional economy of in-app users and enables them to earn it by performing value-adding activities. After earning it, users can pay for in-app purchases.
Decentralized Finance: DeFi access to millions. Apart from relationships, Dua In-App Wallet brings decentralized financial instruments between users.
→ DeFi via apps. Buy & Swap DUA, Lend/Borrow, Stake, Generate Yield
DUA powers the value-creating process of DeFi protocols such as Yield, Lending, and Borrowing.
Self-Sovereign Identity: Online identity ownership powered by Dua ID. In a world full of fake identities, users’ control of their online presence is restored.
→ Own and verify our online identity. Individuals and Businesses
DUA also acts as a gate for running and using dua ID as a service.
Distribution & Vesting Schedules
All stakeholders involved in this ecosystem should be aligned toward one single goal: the future growth of the DUA ecosystem. The pools below show how DUA will be distributed and to whom.
Here you can find the sheet that shows the distribution of DUA over time, including cliff and vesting schedules.
Ecosystem & Treasury: Ecosystem and Treasury funds will be at the community’s and foundation’s disposal to decide how they will be used to advance our protocol and community. The uses of the proceeds fall within these categories but are not limited to:
- Active community members that help us achieve our goals, whether it be: creative work, repetitive work, PR work, creating educational content/tutorials, etc.
- Powering rewards within the apps
- External parties that we will implement partnership goals with
- External outsourcing events, e.g., running our suite on L2 chains.
- Fund gas fees for running and updating the Oracles and our contract set
Governance & LP: The Governance and LP pool subsidize holders who lock their tokens in the governance pool, and those who pool provide liquidity for the selected DEX pools. The foundation will deploy a reward-yielding smart contract, which will allow for the staking of LP tokens to receive rewards from the Governance & LP pool.
The other smart contract that the foundation will deploy is governance staking. It will allow the locking of DUA tokens in the governance pool. The smart contract will accept DUA tokens from holders with specific terms and provide them with a governance-staked token that can be used to participate in governance and claim rewards later on.
With the stake, there is a month of delay between when the users decide to un-stake and when they can. This is done to delay the unlocking of tokens massively and unpredictably because the rewards provided to the users are significant for keeping the tokens out of circulation and helping build the dua ecosystem with their excellent decision-making.
Team: People behind DUA should remain incentivized to keep building after a successful launch. The team, community, and project backers have aligned incentives by locking up most of the allocated supply. This pool will remain locked for 18 months after TGE and will start vesting 42 months after the lockup period.
Partners & Advisors: Partners & Advisors remain a crucial part of the ecosystem. They help grow and consolidate the project. Both pools will remain locked for 18 months after TGE and will start vesting for 42 months after the lockup period.
DUA Fund: The DUA Fund will initially be managed by the Foundation and used to grow the dua community globally. Funds will unlock based on well-defined KPIs. Dua DAO will eventually manage the funds, and DUA stakers will be able to vote and decide on the allocation of the funds.
Marketing, Hackathons, Events: We want to bring together developers, marketers and different stakeholders from the community, which will help us elevate the game and reach business and technical excellence. By being part of the governance process, the foundation will work with all parties that share our vision and want to add value with development and marketing capabilities. Community-owned projects and hackathons shall be organized to make DUA a truly community project.
Private Sale: Foundation has launched a private sale round on the decentralized funding protocol Fundrs (fundrs.app). 20,000,000 tokens are reserved for this round. DUA has not done any seed rounds. Our vision is to be completely community funded.
Pre-Sale: Foundation will initiate a pre-sale round to allow millions of non-crypto savvy dua.com and spotted.de users to participate. 20,000,000 tokens are reserved for this round.
Public Sale: Once both private and pre-sale rounds are completed, DUA will launch public sale to inject liquidity into the market. 30,000,000 tokens are reserved for this round.
Voting
Voting is the building block of democracy. Our DUA democracy will have a voting system in place where the community can engage in proposals, vote, and ultimately decide the future of DUA. This voting system will be implemented in phases, where each phase will be more give more power to DUA holders than the previous one, ultimately creating a fair and decentralized ecosystem.
Phase 0: The foundation makes the decisions for token allocations.
Phase 1: Off-chain DAO tool equivalent to Snapshot described above is set up. Foundation can create proposals and publish them. However, at this phase, the foundation will need a majority of voters to favor the proposal for it to pass and for the transfer to be made. The execution will happen by the foundation at this point too.
Phase 2: Anyone with more than 100,000 DUA can create a proposal for the community to vote on that would align with dua’s vision and mission and enrich its ecosystem. If such a proposal passes with a majority, the foundation has a reason to veto it, but it would have to have strong reasons to do so. Otherwise, the foundation should transfer the funds to the voted party.
Phase 3: Off-chain solution is connected with a multi-sig wallet or a smart contract that holds the treasury funds. If a proposal from anyone in the community passes with the most votes, the transfer is executed using the off-chain-on-chain tech oracle that will automatically transfer funds.
- Whitepaper: https://whitepaper.duatoken.io/docs/
- Website: https://www.dua.com/token/
- Private Sale: https://fundrs.app/project/43114/7
- Telegram: https://t.me/duacomchat
- Twitter: https://twitter.com/duadotcom
About dua Foundation & dua AG
dua Foundation is a Dutch-based non-profit organization central to promoting, growing, and developing globally fragmented communities.
Its strategic and blockchain advisors include AllianceBlock Co-Founders Rachid Ajaja (CEO) and Matthijs De Vries (CTO), SEBA Crypto AG and IBM Former Executive Christen Oesterbye, dua AG Founder and CEO Valon Asani, and Entrepreneur and DeFi specialist Dite Gashi.
dua AG is a Swiss-based company in the business of online matchmaking. The company owns and manages dua.com — a community matchmaking platform for reconnecting globally fragmented communities. It also owns Spotted — a dating app that provides users to make new connections based on real-life interactions.
