💳Using $DEEEP
The $DEEEP token is designed to be a utility token that will progressively provide value to users of the DeEEP marketplace as the network evolves and expands. It is designed around a flywheel action where alternating cycles of supply and demand drive more adoption in the system.
Our vision is to integrate the $DEEEP token into various aspects of the ecosystem, with a focus on unlocking benefits and driving user engagement. As we grow, we plan to implement the following features and use cases for the $DEEEP token:
Transaction Fees:
Hosting Services: $DEEEP tokens are used to pay for hosting services on the DeEEP marketplace. Service Owners pay for running their nodes and validators, with fees pegged to USD for consistency.
Incentives and Rewards:
Plug-in Rewards: Incentivizing early adopters by rewarding the first 50,000 devices onboarded with $DEEEP tokens. The reward structure is tiered, decreasing as more devices are added to the network.
Utilization Rewards: Allocating tokens to Device Operators based on the effective utilization of their devices. This encourages active participation and efficient use of network resources.
Voting Power: $DEEEP tokens are used to participate in the governance process. Token holders can vote on proposals, delegate their voting power to Data Committee members, and influence network decisions.
Proposal Submission: To submit a DeEEP Resolution (DR), a certain amount of $DEEEP tokens must be locked as an initialization fee. This ensures that only serious and well-considered proposals are submitted.
Staking:
Security and Trust: Compute Owners may stake $DEEEP tokens as a form of collateral to enhance the security and trustworthiness of their services to meet SLA requirements. Staking can also be an SLA requirement for accessing certain high-value or high-stakes services on the network.
Development and Growth: A portion of $DEEEP tokens are allocated to the Community Fund, which supports network growth and community initiatives. This fund can be used for hackathons, community contributions, bug bounties, and partnerships.
Incentivizing Contributions: The Community Fund can reward developers and contributors who create new service runners, improve network functionality, or enhance security.
Service Discounts and Promotions:
Device Identity NFT (DIN) Traits: Traits linked to DINs can provide discounts on services, faster release of rewards, or other benefits. These traits are unlocked based on milestones achieved during the BOX NFT sale.
Monetization of Services:
Management Fees: Fees for managing devices and keeping them up to date and running in line with the SLA. These fees are paid in $DEEEP tokens and can vary based on the service level agreements (SLAs) and performance metrics.
Ecosystem Development:
Partnerships and Integrations: $DEEEP tokens can be used to incentivize partnerships with other projects and platforms, integrating new technologies and expanding the ecosystem.
Marketing and Outreach: Allocating $DEEEP tokens for marketing efforts, user acquisition, and outreach to grow the network and attract new participants.
User Engagement:
Participation Rewards: Rewarding community members for their active participation in governance, discussions, and contributions to the network's development and improvement.
Development Bounties:
Bug Bounties: Allocating $DEEEP tokens from the Community Fund to bug bounty programs, encouraging developers to identify and report vulnerabilities in the network.
Feature Development: Offering bounties for the development of new features, integrations, or improvements to the DeEEP Network ecosystem.
Referral and Affiliate Programs:
Referral Bonuses: Implementing a referral program where users earn $DEEEP tokens for bringing new participants to the network.
Affiliate Rewards: Partnering with affiliates to promote NerdNode services and rewarding them with $DEEEP tokens for successful referrals.
Liquidity Provision:
Liquidity Pools: Encouraging users to provide liquidity for $DEEEP trading pairs on decentralized exchanges (DEXs) and rewarding them with a share of transaction fees.
Automated Market Making: Using $DEEEP tokens in automated market maker (AMM) protocols to facilitate trading and improve liquidity.
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