Simple Version:
The main goal of Dether is mass adoption of Ethereum.
Using Dether Mobile App you can sell Ether for Cash to Private sellers and Physical stores can accept Ether using Dether app
Longer Version:
Their White Paper starts by explaining different scenarios where different people face different problems, which is cool so you can relate to those problems.
Scenario 1: Time Consuming
Hans a German student wants to invest some of his savings in Ether. The price of Ether on May 18, 2017 was 90$. He opens an account in an Online exchange and transfers money from his bank account.
But by the time his account get validated due to KYC regulations & the money gets transferred the price of Ether rises to 120$.
Hans is looking for a quick and efficient way to get Ether.
Scenario 2: Online exchanges don’t accept currencies from certain countries
Hassan from Tunisia would like to invest in Ether, but online exchanges do not accept Tunisian dollars.
So Hassan is looking for a simple and effective solution.
Scenario 3: Convert ether into Local Fiat currency
Adama who is migrated to France and wants to transfer money to his mother, who lives in Mali, to help her pay the family debt doesn’t want to use Wester Union every month since it takes 10% commission fee every time.
He would like send Ether to his mother, but he would like his mother to convert Ether to fiat currency.
Dether promises to solve all the problems faced in the above scenarios. How? Let’s see:
To use Dether all you need is a Smartphone. You can buy and sell ether without a bank account or credit or debit cards.
Dether from Seller and Buyer point of view:
- Buyers are able to discover Sellers from Dether’s map, their ETH/fiat rate, the fees they take. The Buyers and Sellers can anonymously chat with each other and agree on a meeting point to exchange ether for cash.
- Sellers can set their own ETH/fiat rate and their own fees.
Dether from Physical Stores point of view:
- Buyers can also find Physical stores that accept Ether using the Dether map.
- Dether users can also report on physical stores that are fraudulent.
User Interface:
Let’s how does their Application look. They have designed the App so that even a child could use it.
Dether Token (DTR):
The DTR token serves two main goals:
- Sellers and Physical Stores can use DTR tokens to gain more visibility on the Dether map.
- Launch an organic referral program to foster Dether’s ecosystem
Gaining Visibility on Dether map using DTR tokens:
- Sellers and Shop Owners can own a zone and have exclusive visibility to themselves.
- Each zone on the Dether map can be owned by stacking DTR tokens. Shops and sellers will competing for Zone through Auction Mechanism.
- Shops can bet on specific keywords to be more visible on the map.
- Every day 1% of the amount of DTR tokens stacked will be burned.
- If a show owns a zone, all other shops will be visible on the smallest zone and with limited information
- If a Seller own a zone, all other sellers will be deleted from that zone. But the shops in the same zone will be visible.
DTR and organic referral program:
- Teller(Seller) pays deposit fees without DTR has to pay 0.3% of fees in ETH and 0.1% of it goes to the referrer
- Tellers paying deposit fees in DTR, 0.1% fees paid in DTR is burned, 0.1% fees paid in DTR goes to the referrer
Token Distribution:
DTR token supply: 100, 000, 000 DTR Maximum cap on crowd sale: €15million ETH accepted
Roadmap:
Check their detailed roadmap here https://dether.io/roadmap
Team:
Advisors:
My thoughts:
Dether sounds as the fastest way to get Ether and this is achieved by using your Smartphone and no bank account is needed. Dether is targeting Asia, South African and South American countries where most of the transactions are done through cash.
By holding the DTR tokens you pay less transaction fees than Ether, and the more tokens you hold the more visibility you have in the Zone. If Dether gains popularity and more users start using their Web App the demand for their tokens will go high
They already have an alpha version of their web app here https://alpha.dether.io/.
Sources:
https://whitepaper.dether.io/
Disclaimer:
I am not a financial advisor. Please do your own research before investing in a company. These are my personal thoughts.
What do you guys think about Dether? Are you planning to invest in their ICO? If you like my post, please Comment, Upvote and Reesteem. Thanks!
