The DIM Foundation is the heart of the DIM Ecosystem. It is an organization that produces and creates two different kinds of cryptocurrencies, the DIMCOIN and the DIM Currencies (together: “DIM”). It initiates and launches Initial Coin Offerings (“ICOs”) and issues the DIM TOKENs. Furthermore, it also allocates DIM to the entities forming the DIM Ecosystem in accordance with the respective Whitepapers.
Its functions also include the digitization of assets and the creation of future products and services under the DIM copyrights. All profits received by the DIM Foundation will be utilized to further improve the DIM Ecosystem in order to increase the acceptance, use and value of the DIM on a global scale.
In the future, a progressively increasing number of people from all over the world are going to use digital-currencies as a means of payment. This is particularly true for countries where people do not even have bank accounts. But, even in the more developed world, the transfer of FIAT currencies is currently burdensome, time consuming and expensive. The DIM Currencies, however, facilitate a worldwide real-time transfer of payment means on a low cost basis. Since the DIM Currencies are linked to the value of the respective FIAT currencies which are mentioned in the denomination of the DIM Currencies, the exchange risk in case of acceptance is limited to that of the respective FIAT currencies.
The DIMCOIN, which is a speculative cryptocurrency, has the potential to increase its value and to substantially contribute to the wealth of its owners. The value of the DIMCOIN depends on the number of people investing in it. The more people purchase the DIMCOIN, in particular, in exchange for Bitcoin, Etherium or other tradable cryptocurrencies, the more the value of it increases.
In addition to traditional payment systems, the DIM Currencies may be used for trading in virtual shares, commodities and other assets. For the time being in the world of trading today, the buying and selling of listed shares in even strongly developing countries is limited. For example, buying shares in listed companies in India on an exchange outside India is restricted or even impossible, e.g. in Frankfurt. These restrictions will no longer exist as soon as stocks are virtualized and associated with digital currencies. The DIM Ecosystem facilitates the exchange of securities, commodities and other assets into digitalized assets, and provides for platforms which allow the trading in such digitalized assets.
Besides this, the DIM Foundation pays great importance and attention to transparency, usability and security (e.g. block chain technology) as well as the fulfilment of regulatory standards worldwide to the extent applicable.
The DIM Foundation is also engaged in charity. It invests mainly in the field of education of people from less developed countries.
The DIM Foundation’s vision is that the DIM becomes the pre-dominant payment means worldwide, accepted by a global and wide network of points-of-acceptance for all kinds of goods and services. Furthermore, nearly everybody shall have the chance to invest in intrinsic values like stocks, bonds, gold, diamonds and other commodities, but also in intellectual property rights, like soccer, football and other sport professionals, art and race horses, and to participate in the value increase of such assets to which currently only wealthy people have access to. The DIM Foundation and the DIM Ecosystem will provide for exchanges that facilitate the digitalization and, thereby, fractionalization of all of these assets in to pieces affordable for everybody. The digitalized assets will be made tradable globally at real-time and for affordable costs on platforms operated by companies belonging to the DIM Ecosystem. It is our vision to contribute to the worldwide welfare of mankind by offering these new facilities and systems.
July has been a busy month for the DIM team as you all know. From hosting four DIM Ambassadors and Promoters in our Johannesburg back office to listing on some strategic exchanges, we’ve seen some good results from our efforts! This monthly update is a round-up and recap of what most of you who keep up with DIM announcements are already aware of. We also introduce you to our Operation Manager.
Firstly, we want you to know that we appreciate your constant engagement with us on our various social media platforms. There will be an interactive PDF available with all the platforms where you can get in touch with us and interact with other community members. We hear everything you say, and we’re also always working on improving our products. So, you’ll be glad to know that among the other fixes and updates, an extra layer of protection, in the form of recaptcha, has been added to the latest version of DEPOTWALLET.
Also, true to our objective of listing on exchanges that are stable and secure, we announced to you this July that DIMCOIN listed on four diverse exchanges. We are listed on Cryptopia, CryptalDash, Antriex and EXCONCIAL. In a bearish market that is steadily on a recovery, DIMCOIN has strategically positioned itself to take advantage of the market recovery as we head towards the third quarter of the year. Listing on Cryptopia gives DIMCOIN holders access to the Australasian market that is ripe for the market recovery (the DIM Foundation intends to expand in this region). While listing on CryptalDash gives DIMCOIN traders access to different platforms that provide trade liquidity. Of course, the HYBSE still remains the main priority of the Listing Department, but we are careful at the same time not to neglect opportunities to strengthen and add value to DIMCOIN.
Also, as you all already know, the #Go2DIM campaign was a success! Four community members—CryptoMatt, Garrett, Ineff and Clinton—were hosted by the DIM team at their Africa back office for two days in July. There were five original winners who were expected to visit the DIM back office, but unfortunately, two of them were unable to get their visas processed in time, and so Clinton, who had garnered a high number of votes in the competition and was located nearest to the DIM back office in relation to the other entrants, was invited in their place.
From this interaction, we feel that it would be wonderful to meet all the Ambassadors and Promoters one day, but for now we are grateful even for this small, but significant opportunity to engage with some of them in person. You can see the official #Go2DIM video, as well as each of the four’s individual videos here.
The DIM Foundation would like to introduce to you our new Operations Manager, Daniel Liu. Dan brings a wealth of experience to the DIM team, having fulfilled multiple operational roles over the course of his career in hospitality, gaming, and construction and property sales in different nations. He proudly claims his heritage of being a third generation South African Chinese who, having lived through South Africa’s political transition, is particularly drawn to the DIM Ecosystem’s democratic spirit of a blockchain ecosystem that is built for the people and managed by the people.
Dan took up the position of OM at the start of June, and hit the ground running with his plans to restructure company operations to align with the vision and desired future outcomes of the company.
The purpose of the restructuring is to create a base template upon which the various new regional DIM Foundations will be modelled. He has the task of reviewing existing models and policies, and creating new ones, as well as ensuring compliance, so that at the operational level the DIM Ecosystem is functioning at its best. Dan is a big believer in the DIM Ecosystem and the impact that it will have on global traditional systems.
He believes that despite the challenges and setbacks, the company as a whole, and not just operations, will deliver an unprecedented display of a true blockchain ecosystem that empowers people from all walks of life.
Yannick Zehnder, one of DIM’s faithful promoters as well as a popular crypto enthusiast and blogger had a few questions for Dan. The interview can be found here:
Additionally, we asked Daniel to answer some commonly asked questions from the community in the month of July, and aim to do this with every monthly update going forward. The questions and answers can be seen below:
1. Any time-frame for releasing the new WP for DIM-X? DL: We do not have a specific time-frame, but it is on the way and in the pipeline. Our focus right now is to refine the latest HYBSE WP first as this is connected to DIM-X.
2. Do the Tokens represent some form of ownership? If yes, can you explain what that form of ownership means? DL: Holding DIM TOKENs can be deemed as ownership, although, not to its full capacity. A payout against the TOKEN Holders resembles a monetory ROI but should not be confused as a dividend of a share. Also, TOKEN holders have voting rights within the DIM Ecosystem which is reviewed by the core team.
3. If Wise Consulting will no longer be acting as our crypto to fiat exchange, what will replace Wise Consulting to fill in this much needed aspect? DL: We are still the proprietary owners of the software. Wise Consulting was a service level partner. We are currently working on merging with other global parties on future collaborations.
Eligible DIM TOKEN holders were paid out on Friday 29th of June. There was a total of 833443.029053 DIMCOIN distributed amongst all 50+ DIM TOKEN holder wallets.
The voting structure that was mentioned before is in its final stage of testing and will still be implemented. Below are the details of the second DIM TOKEN holder payout:
Payout start date: 29/06/2018
Payout end date: 30/06/2018
Total 50+ DIM TOKEN holders: 6692
Total Levy amount: DIM 833443.029053
Total Payout amount: DIM 250032.908716
HYBSE account: DIM 333377.211621333
DIM Foundation: DIM 250032.908716
Reason for exclusion: This account has been hacking DIMCOIN basic wallet holders multiple times.
Please remember to never send your DIM TOKENs to exchanges as they are not eligible for payouts.
Exchanges with DIM TOKENs:
NANOXGYIH52QCQEMEP5LAF36UMVT3JFCWNGWENCB — Nemchange
ND2JRPQIWXHKAA26INVGA7SREEUMX5QAI6VU7HNR — Bittrex
NBJZL2BAN2VQMIYTVHPJZUFKJEOT4DOBQF2NSFDD — HitBTC
NC7ROGDITAJRT57CK27MQBSNBLNTUZTFKVXAILXQ — Exrates
NBZMQO7ZPBYNBDUR7F75MAKA2S3DHDCIFG775N3D — Poloniex
2QO6UHZD7PHGFNCPISDL — Indodax
This amount will start growing gradually as more companies register on the HYBSE and/or adopt DIMCOIN and DIM Currencies within their systems. The expansion of the DIM Ecosystem will benefit
DIM TOKEN holders more and more.
Regarding the fee structure for DIM TOKEN holders, a new graphic (see below) has been created to clarify the structure for the payouts.
Lastly, as some have already noticed, Richard Lendrum is no longer our Head of Communications and his photo has been removed from the DIMCOIN website. Mr. Lendrum is still involved with the project
as a whole and still believes in our vision.
Last week, the DIM Ecosystem Update and DIM Ecosystem Whitepaper were released, and we just want to thank you all for your feedback.
Please be aware that from now on, DIM updates will be posted monthly, instead of weekly. This decision was taken based on feedback we got from the DIM Midyear Update, which reflected the general
feeling that most people prefer a comprehensive update rather than getting it in bits and pieces. We will, however, post information and announcements on the platform whenever the need arises.
The DIM Africa back office is eagerly awaiting the arrival of our #Go2DIM winners! We are glad to have the opportunity to host them, so that they may have a better understanding of our organisation.
There was a wording inaccuracy in the recent DIM Ecosystem Whitepaper on page 13, under figure 5. It was written “DIM Token holders with 50 or more tokens will receive 30% net profit portion of the col-
lected fees”. Please note that it should have been written as “30% of net transaction fees” as originally stated in the DIMCOIN Whitepaper.
Thank you to the members that pointed this out, we will edit and re-upload the DIM Ecosystem whitepaper.
As expected, below is the DIM Midyear Update and latest DIM Ecosystem Whitepaper:
DIM Ecosystem Whitepaper:
DIM Midyear Update:
For any queries or questions, kindly email [email protected]
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