As our ecosystem grows, new features launch and exciting partnerships are struck, there’s going to be one constant through it all: DOP’s native token.

 

In the months and years to come, $DOP will play an invaluable role in powering our protocol — unlocking the core functionalities that allow crypto users to experience selective transparency.

 

In this post, we’ll explore the utility and benefits of our native token, $DOP, and discuss how holding it allows you to engage with and contribute to the long-term growth of the DOP ecosystem.

Transaction fees

In case you don’t know by now, Data Ownership Protocol has been built with a simple goal in mind: giving users control over how much of their financial information is made public.

 

This is achieved with a cryptographically advanced solution that allows numerous ERC-20 tokens to be encrypted, meaning balances and transactions won’t appear on block explorers.

 

Now our mainnet has launched, we’ve also developed an easy-to-use platform to ensure this process only takes a couple of clicks.

 

Our simplified, consistent fee structure means encrypting assets is subject to a small commission of 0.1%, which is paid using the same cryptocurrency being encrypted. This commission is based on the value of the crypto being made secure.

 

From here, sending encrypted assets to friends, family, colleagues and merchants will attract a fee of 10 $DOP, making it a useful token to have handy in your wallet at all times.

 

And if ever you want to decrypt assets, meaning they become publicly visible once again, the same 0.1% commission will apply along with an additional 10 $DOP charge.

Governance and integrations

Beyond playing an instrumental role in facilitating the flow of funds in the ecosystem, $DOP will also be at the beating heart of a specially created decentralized autonomous organization.

 

Within this DAO, an elected committee of node operators will be responsible for continually monitoring the protocol for risks, cultivating a blacklist of prohibited wallets, and performing fair and transparent investigations. They’ll be rewarded in $DOP for doing so — incentivizing diligence, attracting top talent, and ensuring this committee acts in the best interests of all.

 

They will be accountable to $DOP holders, who are also set to play a big part in driving our ecosystem forward.

 

Members of the community will have the freedom to make proposals on improvements and new features. Eligible holders can then have their say, with voting power calculated based on how much $DOP they have relative to the total supply in circulation. This means those with a greater stake in the project will have a louder voice when debating the ideas that’ll shape the future.

 

Crucially, voting for and against is supported, enabling those who are opposed to a proposal to make their stance clear.

 

Delving into $DOP’s tokenomics goes on to demonstrate how sustainability is a key principle, and ensuring this protocol can benefit crypto users for years to come. A long-term treasury fund has been established to finance development, bug bounties, community initiatives and strategic partnerships that will bring the protocol to a wider audience.

 

Meanwhile, another portion of $DOP’s supply has been allocated to supporting third-party developers with bright ideas for dApps that will make our platform a one-stop-shop for selective transparency — a crucial element in the quest for widespread grassroots adoption.

The staking program

At this point, you may be wondering what happens to the fees paid in $DOP. Well, there’s a simple answer for this: 75% is burned, reducing the circulating supply of our native token, while the remaining 25% is redistributed to stakers.

 

Our staking program offers a compelling opportunity to earn $DOP, and make your holdings work for you. As we explained in a recent blog post, a total of 210 million tokens have been set aside for rewards over the next year — with the yield on offer dynamically adjusting in line with demand. At the time of writing, more than 1.16 billion DOP have already been staked, making this another popular use case for our digital asset.

 

And please don’t forget that there’s also the chance to take part in our mainnet airdrop campaign in two phases. The first phase enables early adopters to use DOP to get $DOP — with incentives for activities including encrypting and decrypting assets, as well as sending funds to others.

$DOP: The cornerstone of our protocol

Our mainnet remains shiny and new. Until now, we have allowed users to interact with the protocol for free and see what all the fuss is about.

 

But now that $DOP is listed and transferable, those who finally want their crypto holdings to enjoy the same confidentiality as the fiat in their bank account will need $DOP to interact with our platform.

 

As milestones on our roadmap are ticked off, and brand-new objectives are set for the future, Data Ownership Protocol will be working hard to make $DOP valuable for users — in more ways than one. It’ll be the cornerstone of an ecosystem that’s packed with features, and an essential token for anyone who believes that personal information should remain exactly that: personal.