Databroker DAO: The Details Of The Token Utility

DataBroker is looking to create a brand new platform that works as the world’s first marketplace of data generated by IoT sensors. The process will work with a data stream registry that will allow the company to store the data using decentralized means with identifiable sources either to sell the data on a live stream on request by timespan or to sell it by files of data that can be downloaded. The operations to get this data can only be accessed in the DataBroker DAO ecosystem using DTX tokens.

Using the DTX token

The DTX token utility is the tool that will be used by data owners to place their listings in the DataBroker DAO registry. The system is designed to offer prominent listing to the users who invest additional tokens to boost the features of their data offering. This is done with the purpose of improving their sale and offering additional guarantees about the reliability of the data offered to the buyer. There is a rating system managed by staking the DTX tokens to challenge the quality of the data, the reflection of this action will be public in the ecosystem, and it will low the ranking of the provider. Continued challenges will result in removal from the registry.

DTX: origin and projections

The DTX token is being created using ERC20 compliant protocols using the MiniMe standards features to clone it as the market grows and contracts need to be upgraded. DataBroker DAO is expecting a big expansion of the use of IoT sensors. The current, untapped market has a reach of $600 billion, and as smart devices of becoming more common, the reach could be expanded to $1,3 billion by 2020 and $1,6 trillion by 2024. The company is taking into consideration the data generated from these devices, instead of the number of devices that will be available in the future for their projections.

DTX token issuing and allocation

To finance their operation and offer the chance to participate in the platform DataBroker Dao is issuing 225 million DTX tokens at the cost of $1 per unit. The company is requesting a minimum investment of 1 ETH that will offer initial investors access to 4,000 DTX tokens. The token allocation will be issued as it follows: 5% will be reserved for developing a team to offer them as incentives over the course of 4 years. 10% will be used to fund the platform using FIAT currency. 6,5% will be offered to early supporters with a bonus rate of 60% discount for their trust. 30% of the planned supply will be locked until 2021 while 48% will be offered in the public sale.

Presale and bonuses

There is a planned pre-sale that will begin on March 19th of 2018. The tokens sold during this period will be offered at with a 50% bonus when an investment of 10 ETH or more is made. The main sale will begin on March 26th, and it will run for four weeks. Unlike other ICO’s DataBroker will keep all unsold tokens in case of variations on the cost of ETH for recalculation purposes. The company has a planned hard cap of 9400 ETH ($ 9,400,000), and trade is set to begin on April 30th of 2018, just one week after the sale ends. The token will be offered in the exchange service Chankura.com, but others could get involved before the planned date. To learn more about DataBroker DAO, you can check https://databrokerdao.com/