The DMM ecosystem has had a lot of wonderful developments in the past months. We wanted to take this chance to thank the community for all of their support and talk about some upcoming events.
Token Unlock:
First of all, how does the unlock schedule work? Well, the Foundation’s 40% allocation of the supply (100M DMG) will begin to vest equal amounts of DMG every Ethereum block on November 15, 2020, until November 15th, 2021, when the last amounts unlock. At this time, the team has no plans to sell its tokens. The team will continue to work hard to ensure that all our goals are met and that the ecosystem can reach its full potential.
Non Fungible Tokens (NFTs) in the Ecosystem:
NFTs will play an integral role in expanding the ecosystem and bridging the legacy finance system with DeFi. It is also how Principal and Affiliate members will interact with the DMM ecosystem. The foundation believes the impact of NFTs will be significant to the overall ecosystem both as it relates to the circulating supply of DMG (which will be limited) and the NFTs’ rights. All DMM members will have the opportunity to participate equally in NFT minting. Following our NFT purchasing platform’s release, more information coming shortly, the team wants to mint their own NFTs using some of their 100mm tokens to reserve their country blocks. The team believes that the NFTs and their underlying country blocks are vital to growing the ecosystem and bridging traditional finance with blockchain.
The Deflationary Nature of the DMM Governance token:
This nature can be seen through various aspects of our ecosystem: token burns and NFTs. Our token burns have already decreased the circulating supply from 250mm to 249,831,323 (for a high-level idea of the implication of burning on the ecosystem, refer to the table below). Even at a modest scale as detailed below, the team believes that there will be ever larger burns. These burns should significantly impact the ecosystem, limit DMG availability, and further deflate DMG’s supply providing a benefit to all involved in the DMM DAO.
Looking Forward:
Again, we thank the DMM community for all your support! The DMM Foundation is looking forward to additional developments including refining and expanding the processes for bringing real-world assets onto Ethereum, mToken integrations, more exchanges, partnerships, and systems built around asset introduction NFTs. Stay tuned!
About DMM
DeFi Money Market (DMM) is an ecosystem built on the Ethereum blockchain that bridges interest-generating real-world assets into the Decentralized Finance (DeFi) ecosystem in a transparent, trust-minimized, overcollateralized, and permissionless manner.
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