# $DGMV Utility

*Note: This concept is currently a work in progress, with DigiCorp Labs still engaged in a feedback loop in service of building the best possible functionality into our token.*

## Tokenomics

**Token name:** DigiMetaverse

**Token ticker:** $DGMV

**Token type:** ERC20

**Blockchain technology:** Ethereum&#x20;

**Remember:**\
DigiCorp Labs aims to migrate $DGMV to the DigiMetaverse smart layer, which is native L2 compatible with UTXO chains (Lite, Dodge, BitCoin, DigiByte, etc.) – subject to investor and community discussion and agreement.

**Total supply:** 1,000,000,000 (one billion)

**Circulating supply:** TBA

**Market cap:** TBA

## Token Allocation

**Private sale allocation:** 9% (90M)

**Public sale allocation:** 5% (50M)

**Team:** 12% (120M)

**Advisors:** 9% (90M)

**Rebates:** 15% (150M)

**Ecosystem and referrals:** 10.5% (105M)

**Exchanges and MM:** 10% (100M)

**General reserve:** 5% (50M)

**Research:** 7.5% (75M)

**Marketing and operations:** 17% (170M)

## $DGMV utility:

* Unlocks personal IP for DGMV Web3 and metaverse application features
* Loyalty-based token rebates for application and service customers
* Loyalty-derived community participation in governance
* Means of exchange between the users within the DigiMetaverse ecosystem<br>

## DGMV-ID Consumer: Token circulation

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### **01 The payment gateway**

You can unlock your DGMV-ID license with a fiat or $DGMV token payment. The fiat cost is fixed, and you can find the prices of different license options on the website or in the app. The $DGMV token cost is determined by the live market price, which you can find via APIs. All licenses are based on a one-year contract, but DigiCorp Labs may introduce an optional monthly subscription in future.

### 02 The license gateway

Once you’ve paid, the license gateway will generate a code and grant you access to the right password features and functionality on the DGMV-ID app.

### 03 Unlock your license with $DGMV

The token value you provide will be released from your ecosystem wallet and locked in a smart contract for the one-year license period. New tokens will be transferred to the ecosystem wallet to replace the tokens used to activate your license in real time.

### 04 Unlock your license with fiat

If you're a **consumer**, acquiring your DGMV-ID license with fiat currency will see the equivalent amount of tokens required to power the license sourced from the Ecosystem Wallet. This request will be processed in real time.

The token quantity will be determined by the current token value, as obtained from APIs connected to open market exchanges. 100% of released tokens will be locked in the smart contract for the duration of the license (12 months).

Once the fiat funds are released to DigiCorp Labs, 8.33% of the total payment (the equivalent of a one-month subscription) is used to buy $DGMV tokens from the open market, and used to refill the ecosystem wallet.

The remaining 91.67% is kept in the fiat treasury to fund our operations.

If you’re part of an **enterprise**, you’ll sign the service level agreement (SLA), which states that DigiThree will pay the IP license cost to DigiCorp Labs.

8.33% of this payment will be used by DigiCorp Labs to purchase $DGMV tokens from the open market and transfer them to ecosystem wallet, while the remaining 91.67% will stay in the fiat treasury.&#x20;

At the same time, the $DGMV token equivalent of the full fiat cost will be sent from the ecosystem wallet to the smart contract, and locked for the duration of the SLA.

### 05 License expiry

When your license nears its expiration date, the $DGMV tokens previously locked in your license contract will be automatically released into a temporary wallet. This same process applies to all other expiring license contracts within the month. At the end of each month, the tokens released from the smart contract into this temporary wallet follow a specific distribution:

* 20% will be released to the DigiLife Utility Wallet for DigiCorp Labs to use at their discretion
* To ensure the long-term stability and security of the remaining 80%, these tokens will be securely locked in the smart contract for a duration determined by the community, before being allocated to the IP vault wallet for the community to decide what happens next.

### 06 Renewing your license

If you’re a **consumer**, you’ll be prompted to renew your license when it’s about to expire. This will make you eligible for a rebate paid in $DGMV tokens.&#x20;

If you choose to renew your license, the smart contract will initiate a rebate payment from the rebates wallet. The rebate amount will be based on the $DGMV token value calculated when your license began, and can be increased by reputation and loyalty multipliers.

If you’re part of an **enterprise**, DigiThree will negotiate the renewal of your SLA. If it’s renewed, the smart contract will initiate a rebate payment from the rebates wallets.

DigiCorp Labs will then convert the rebated $DGMV token amount to fiat currency, and pay the rebate to DigiThree, who will use the funds to offer renewal discounts to enterprise customers.

**Remember…**\
DigiCorp Labs charges a small fiat fee on $DGMV to fiat conversions carried out for DigiThree and Consumers. This fee is one of the revenue streams that fuels the fiat treasury and helps fund our operations.

### 07 User dashboard options

You can choose whether to use your rebated $DGMV tokens to:&#x20;

* Renew your DGMV-ID license
* Access loyalty-based benefits within the DigiCorp Labs’ ecosystem
* Convert and withdraw profits through a third party fiat on- or off-ramp provider.

**Remember…**\
DigiCorp Labs charges a small fiat fee on $DGMV to fiat conversions carried out for DigiThree and consumers. This fee fuels the fiat treasury and helps fund our operations.

### 08 How the IP vault funds are used

When your one-year license smart contract expires, 80% of the locked funds will be locked in the smart contract for a duration determined by the community, before being released to the IP Vault.

Funds in the IP vault wallet can only be accessed via the community voting system. The only exceptions are the provisional, failsafe mechanics that ensure longevity of the ecosystem and its efficient operation and are only triggered in extreme situations.

**The community can vote on how to use unlocked tokens, choosing whether to:**

* Refill various ecosystem wallets (ecosystem wallet, ecosystem rewards, rebates wallet, emergency and contingency reserves, etc.)
* Fund internal and external initiatives, such as
  * Research and development
  * Marketing and promotion
  * Community building
  * Ecosystem expansion
  * Security and audits
  * Expanding legal and regulatory compliance
  * Grants and bounties
  * Partnerships and collaborations
  * Education and awareness
  * Environmental initiatives
  * Charitable contributions

**Remember…**\
The DigiCorp Labs team is developing critical, failsafe mechanics to make sure the ecosystem operates continuously and efficiently in extreme circumstances without undermining the community’s governance or introducing loopholes that allow funds to be extracted from the IP vault without its approval.&#x20;

## How the $DGMV token circulates

![](https://2338480674-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fr0yNSxlC4XLzO0JukesU%2Fuploads%2FFw9pTj9652tRmX648ukp%2Fphoto_2023-10-04%2021.13.49.jpeg?alt=media\&token=ea1078f7-4b11-4783-b67b-6305b25eb7a9)

### 01 Acquiring $DGMV Tokens

There are three key ways to get hold of $DGMV tokens. The primary source is **renewal rebates,** which you’ll receive whenever you renew your DGMV-ID license.

You can also acquire $DGMV tokens through **incentive mechanisms**, which include:

* **Referral rewards**\
  Share a referral code with your friends to give them a discount and earn yourself a percentage of the $DGMV tokens they use to unlock their license – either in $DGMV or fiat currency. All referral rewards will be paid from the referral rewards wallet.
* **Usage rewards**\
  When you opt in to data sharing and allow DigiCorp to access information about the volume and frequency of your app use, you’ll also qualify for usage incentives. Your data is crucial in helping us accurately monitor how DGMV-ID is being used, as well as determining your eligibility and size of reward. We’ll never collect specific data about the type of content you access.
  * **Remember…**\
    As per our decentralized ethos, we will always prioritize data privacy, security, and regulatory compliance as we develop and implement our approach.
* **Governance participation** \
  You can earn $DGMV incentives by actively participating in the ecosystem’s governance (either directly or through delegated voting power). Rewards earned this way will be subject to a 12-month withdrawal vesting.

The final way to acquire $DGMV tokens is by making **open market purchases**, which allow you to buy tokens through both centralized and decentralized exchanges that support the trading pairs with $DGMV token.

### 02 Extracting tokens from circulation

You can unlock your DGMV-IP license by spending $DGMV tokens and locking them in the smart contract for one year. Fiat license payments will see the equivalent value of tokens from the ecosystem wallet locked in for the same period. 8.33% of the fiat payment used to unlock the license will go towards buying back tokens from the open market.

The other way to extract tokens is through the IP vault deflationary mechanism, which requires 80% of the $DGMV tokens released after the one-year lockup to be stored in another smart contract for a further community-determined period. All $DGMV tokens unlocked after this five year period will be stored in the IP vault and only accessed with community approval (with the exception of critical safeguarding measures).

### 03 Putting tokens into circulation

There are several ways to insert $DGMV tokens into general circulation. These include:

* **Liquidity and market makers**\
  DigiCorp Labs has allocated 10 million $DGMV tokens to initial liquidity at centralized and decentralized exchanges and market-making services.
* **Rewards and incentives**\
  Usage and referral rewards paid out to users for actions like promoting and using DGMV-ID.
* **Rebates**\
  Loyalty-derived rewards paid out to users when renewing their DGMV-ID license.
* **Funding internal initiatives**\
  Selling $DGMV tokens to raise funds for internal DigiCorp Labs initiatives like marketing, research and development, ecosystem expansion and more.
* **Funding external initiatives**\
  $DGMV tokens can be sold by third parties who have been granted funds to support community building, partnerships and collaborations, as well as the development of projects aligned with our long-term strategic goals or using our products.
