DUA is an ERC20 token, deployed on Avalanche.
This token is a multi-faceted cryptocurrency that rewards and recognizes users for their involvement with the dua platform. It’s an innovative way to exchange value within the network. This way, giving participants access to valuable services that are connected with its self-sovereign identity system known as dua ID.
dua Ecosystem and the Economic Agents of DUA
DUA involves different stakeholders, also known as economic agents, along the whole ecosystem. DUA’s economic agents are the users of the dua ecosystem (dua Love, dua Biz, dua Friends & Spotted). These will utilize the token for in-app purchases, targeted ads, Defi instruments, etc.
To define DUA’s economic agents, let’s look at the dua app ecosystem:
We identify four types of economic agents that can be part of our ecosystem.
- Traditional Users (Love, Biz, Friends & Spotted)
- Crypto Users (Love, Biz, Friends & Spotted)
- Businesses (Love, Biz, Friends & Spotted)
- Developers & Marketers (Smart Contracts, Governance)
Moreover, the ecosystem’s core is made up of traditional and crypto users. Through DUA, they will utilize in-app economy and gain access to DeFi instruments (On/Off Ramp, Swap, Lend & Yield). Businesses will take advantage of the ecosystem by advertising their products and services to a +5 million user base. Developers will help with future contributions to the open-source library of $DUA hence the title “DUA Token to improve dua’s UX”.
In-app Economy – Matchmaking Tokenized
DUA is a reward and payment instrument that can be earned by in-app activities from the user, providing a tokenized matchmaking experience. So, every user can create and own an in-app wallet, gaining access to DUA’s utilities that are strongly tied to the app’s services.
Furthermore, the users’ activities will involve critical tasks inside the app to provide a safer and healthier environment. Actions will enrich users’ reputations, earning them $DUA. Which can be used to purchase different services such as Premium or In-App packages.
All in all, Creators and businesses can advertise their products and services by paying with DUA to get millions of impressions within the large dua customer base. Furthermore they will be able to run ads by paying in DUA, and staking will enable discounts.
Dua ID will provide a solution where users can create their online sovereign identity which they will generate, verify and own independently. Moreover, it will protect millions of users against spam & censorship. It will do so by verifying their online presence from various platforms (both web2 & web3) supported by dua.
This solution will provide an online ID for individuals and businesses, which is verified, owned, and updated by themselves inside the app, as well as across web3 protocols. However, users will have to pay in DUA to gain access to Dua ID. They will verify full ownership of their online presence on the ecosystem – including the Web2 social profiles that are supported. So we can say with confidence DUA Token is to Improve Dua’s UX
About Stitching dua Foundation
Stichting dua Foundation is a Dutch-based non-profit. It is self-governing and independent organization that aims to promote the development and growth of globally fragmented communities. The foundation is the legal entity responsible for issuing the token.