Native to the Dimensions Network ecosystem lives the DST Token (Dimensions Strike Token). It’s primarily a reward token, but has some other exciting features too. In this post let’s have a closer look at the role of the token, why it’s needed and the benefit it holds to token holders.
The multipurpose DST token powers the platform and its purpose can be discussed in terms of its four roles on the trading platform.
1. It’s a Reward Token
Dimensions will use DST to reward token holders. A 15% share of the trading fees from the platform will be distributed to the token holders in Ether (ETH). The rewards are the primary benefit for token holders, to ensure that they benefit from the platform’s success. The more activity on the platform, the more rewards token holders will receive. This creates a true win-win situation where everyone benefits. Token holders don’t need to take any action, simply hold the tokens in any Ethereum wallet which supports ERC-20, and the Ether will be sent directly to their wallet. In other words, DST tokens do not need to be staked on the exchange to receive rewards. In the future, Dimensions may offer the rewards in other coins, but for now everything will be done in ETH.
The fees are shared proportionately to the amount of DST an investor holds. For example, if 0.001% of all the tokens are held, then 0.001% of the total DST reward will be paid out to the ERC-20 wallet. Initially, the payout will be after 3 months, but as the exchange volume grows, the time between payouts will be reduced. Eventually, the aim is to reach a point where payouts can be done on a daily basis.
There is a rewards calculator on the website that demonstrates what token holders could earn should the exchange reach specific volumes (adjust the slider to change the volume). The calculator is based on 5000 ETH collected during the crowd sale.
2. It’s a Trading Fee Discount Token
DST holders will receive a discount in trading fees. For frequent traders all the fees can stack up quite quickly. For this purpose the DST token can be used to pay the trading fee at a discounted rate, similar to the Binance coin (BNB).
3. It’s a Trading Token
DST will be paired with the various other coins and tokens being traded on the exchange, thus providing additional liquidity to the token and the market.
4. It’s an Exclusive Access Token
DST Holders will receive new coins launched on the Dimensions Network Platform. A service will be offered where new projects can launch their ICO through Dimensions Network and benefit from targeted services that will be provided, such as compliance testing, security auditing and providing a highly liquid ICO platform. A portion of these tokens will be distributed to DST holders.