Dether (DTR) - BREAKING BARRIERS TO ETHEREUM MASS ADOPTION



  • WHAT IS DETHER?

    Dether provides a decentralized peer-to-peer ether network that enables anyone on Earth to buy ether with
    cash and spend it at physical stores nearby. No bank account is needed, just a mobile phone with internet
    access. Our belief is that the beauty and power of the Ethereum technology should be easily accessible to
    all.
    We’ve decided to put all of our energy and that of the Ethereum community into helping us build the first
    trustless solution that will allow anyone to be able to interact with the Ethereum blockchain no matter who
    you are, where you are, and without the need for a middleman.

    BREAKING BARRIERS TO ETHEREUM MASS ADOPTION

    As Satoshi Nakamoto envisioned the first blockchain use case as a “peer-to-peer electronic cash system,”
    people all over the globe have been increasingly using not only bitcoin, but also cryptocurrency, as a means
    of payment.
    With cryptocurrency you can now:
    Buy a Subway sandwich in Buenos Aires.
    Buy a painting in Paris.
    Pay your children’s tuition fees in New York City.
    Buy a deli sandwich in Melbourne.
    Buy a camera in Tokyo.
    And that’s just the beginning.
    In this context, mobile phones are the new banks. And cryptocurrency is the new money. That’s the reason
    we’ve also shaped the Dether map as a decentralized solution for any physical store willing to accept ether
    as a means of payment.
    No credit or debit card is needed to spend ether at physical stores.

    CUTTING-EDGE APP FOR ETHEREUM MASS ADOPTION

    Dether is the world’s first peer-to-peer ether network. It enables anyone who has a smartphone to buy and
    sell ether using cash and spend it at physical stores listed on the Dether map.
    Dether creates a worldwide ecosystem of ether buyers, sellers and physical stores willing to trade ether
    for fiat cash and accept it as a means of payment. Dether provides the infrastructure for people to embrace
    Ethereum technology in their everyday lives. Dether is available on any smartphone. No bank account is
    needed to buy and sell ether. No credit or debit card is needed to spend ether at physical stores.


    BUY AND SELL ETHER. ANYWHERE. ANYTIME. WITH CASH.

    Dether offers the unique ability to let anyone safely buy and sell ether anywhere, anytime, with cash.
    Because we believe that Ethereum won’t know mass adoption until it’s easily and quickly accessible to
    anyone on Earth, we decided to create the first Dapp that brings the key solution in order to interact with
    the Ethereum blockchain from anywhere in the world.


    • The fastest and easiest way for anyone to buy ether

    Dether offers the unique opportunity to have access to ether within
    minutes by using a phone and spending cash.
    Users are able to discover ether sellers, called tellers, near them on
    the Dether map, their ETH/fiat rate, the fees that they take, and chat
    anonymously with them. Buyers are free to engage a conversation
    with the seller they want to trade with in order to agree on the trading
    conditions and the meeting point to exchange ether for cash.
    Any individual that has cash is able to buy ether on Dether. Cash is used
    in all countries across the globe whether or not a person is unbanked.
    And the adoption of smartphones is increasing all over the world. At the
    crossroads of cash usage and increasing smartphone adoption is Dether.
    Its unique solution gives anyone the opportunity to access ether, and
    thus Ethereum blockchain, by spending cash. Dether aims at unleashing
    the potential of Ethereum technology by providing a quick, easy and
    secure gateway to the decentralized future.

    • A cross-border market for ether tellers
    Any ether owner can officially become a seller on Dether and benefit from a new, profitable activity.
    Ether sellers can now become mobile “PTM” (People Teller Machine) by being on the Dether map and selling
    ether for fiat currency anywhere in the world at any time. Sellers are free to set up their own ETH/fiat rate
    and their own fees.

    USE YOUR ETHER IN PHYSICAL STORES ALL OVER THE WORLD

    • Spend ether at local stores, shops and businesses
    On Dether, users discover physical stores near them that accept ether.
    As Ethereum popularity is quickly increasing throughout the world,
    more and more businesses are accepting ether.
    Today, buying a Subway sandwich in Buenos Aires with cryptocurrency,
    a deli sandwich in Melbourne or a camera in Japan, is now possible.
    Tomorrow, the Dether map will give everyone the opportunity to
    discover all of the places nearby where ether is accepted.

    Dether users are able to discover shops near them that:
    - accept ether as a means of payment
    - are willing to buy or sell ether for cash
    Users are able to spend their ether without the need for a bank account or a credit/debit card. For specific
    needs, users are able to type the kind of physical stores they are looking for (e.g.: “restaurant”) in their city
    to see which ones are accepting ether.
    • Adding their own shops to the Dether map and expanding their businesses
    Shop owners can let the whole world know that they’re now accepting ether! As the number of ether
    buyers and tellers that use the Dether map will grow rapidly, physical stores are also able to be part of the
    ecosystem by being listed on the Dether map.
    Thanks to an auction mechanism, shops will compete with other businesses nearby for better visibility on
    the Dether map. Similarly, like on any search engine or promotional marketplace, physical stores are able to
    bet on specific key words and expressions to be more visible to Dether users on the map.
    In addition, Dether will offer a complete back-office system to any shop wishing to accept ether, in order to
    manage their liquidity and keep up with cryptocurrency fluctuations, thus having the possibility to directly
    convert received ether into fiat currency.

    ÐTR TOKEN

    In order to embrace our vision of creating the world’s first decentralized application for ether buyers, sellers
    and physical shops, Dether introduces the ÐTR token.

    1 WHAT IS THE ÐTR TOKEN?

    ÐTR is the ERC20 token that allows people from all over the world to participate in Dether’s development.
    Dether proposes a freemium model, where users are incentivized to use ÐTR tokens to unlock additional
    features on Dether as a seller or a physical shop and have more visibility on the Dether map. Moreover,
    Dether proposes a model where the quantity of ÐTR in circulation will be deflationist throughout time
    thanks to the ÐTR Token Buyback Program.

    2 WHY LAUNCH THE ÐTR TOKEN?

    Dether relies on ÐTR token holders for its future development. ÐTR tokens will enable the Dether ecosystem
    to grow.
    ÐTR tokens serve two main goals:
    • ÐTR is the key token needed to unlock additional features and ensure better visibility on the Dether
    map. As a teller or a physical store, staking ÐTR tokens is required in order to increase his or her
    visibility on the Dether map to buyers. When multiple sellers or physical shops who have ÐTR tokens
    are competing for a trading zone on the Dether’s map, an auction system chooses the winner for a
    certain period of time.
    • Launch a buyback program of ÐTR tokens in order to decrease the quantity of ÐTR tokens available on
    public markets over time as Dether’s success worldwide increases and add liquidity to the market.

    3. USING ÐTR TOKENS FOR VISIBILITY ON THE DETHER MAP AND ZONE INDEXING SYSTEM

    Using ÐTR tokens in the Dether app will allow tellers and physical shops to have better visibility. They are
    given the possibility of owning a zone through an auction system.
    The Dether map will be divided into small areas of square meters (zone indexing system) in order to precisely
    locate each area on Earth. Therefore, it will be possible to identify and categorize each crypto-related
    service. In order to increase accuracy and avoid spam, different referencing systems will be available: one
    organic, and one premium system accessible through the ÐTR token.
    The Dether map aims at referencing the worldwide ecosystem of ether sellers (called tellers) and physical
    stores. Therefore, there are two types of ether seller entities on the app: tellers and physical shops. Each of
    them has their own registration process and a user cycle.
    Tellers: a teller represents a legal entity (a human being, firm etc.) willing to sell ether at a given price and
    in accordance with the legal limitations of the country from which he or she operates.

    Physical stores: A physical store represents a legal entity registered in its country, willing to be visible on
    the Dether map as a store accepting ether as a means of payment. Said store will also be able to broadcast
    commercial advertisements regarding its location.

    Organic indexing system
    • For tellers: The more a teller trades, the greater organic visibility they will have on the Dether map.
    The radius of his trading location point will expand, as well as his visibility on different zoom views on the
    Dether map.
    • For shops: Shops are organically visible through keyword searches, according to the payments they
    have received.
    5.3.2 Premium indexing system
    Directly linked to the zoning system, tellers and shops have the ability to own a zone in which they have
    exclusive visibility.
    • For tellers: Tellers will have exclusivity if they own a zone. All of the other tellers on that zone will
    be invisible.
    • For shops: If a shop owns a zone, it has exclusivity on said zone. All of the other shops around will
    only be visible on the smallest zoom level, with limited information shown. Once a sufficient number of
    physical stores are listed, Dether will set up a keyword system, enabling every physical store to add “tags”
    that match the business’s description. For competitive areas, a keyword auction system will be set up for a
    given geographical area. Thus, physical stores will be able to appear in priority over a given area, according
    to the keywords entered by users in the search bar of the Dether map.
    How will the auction system work? An entity opens a bid for an area by making a deposit. For the next
    24 hours, any other entity can bid to appear on this area. After 24 hours, the entity that made the largest
    deposit takes possession of the area. At any time, an entity may reopen an auction to take possession of
    the zone. From then on, entities have 24 hours to bid to appear on this area. In the meantime, the current
    owner of the area keeps it until the auction is over. A monthly fee between 0.05% and 0.1% of the deposit
    will be taken in order to feed the ÐTR Buyback Program Fund, which intends to constantly buy ÐTR tokens
    back and burn them.

    DEVELOPMENT ROADMAP

    CURRENT STATE

    2017 Q1
    Proof-of-concept
    • Participation in the Merkle Week Hackathon in Paris
    • Development, smart contract, and wireframes design
    • Proof-of-concept development that enables users to register as a seller on a map, chat with buyers and
    trade
    • User tests
    • Live demo and pitch in front of the jury
    • First prize winner

    September 2017
    Beta version
    • Interface: progressive app available on any smartphone
    • Smart contract:
    ◊ smart contract enabling tellers to register a location point on Dether map
    ◊ availability button for tellers to show buyers when they are available for trades
    • Wallet: light wallet with encrypted private key on the device
    • Peer-to-peer messaging: encrypted third party messaging (ex: Telegram)
    • Map: external provider
    • Ethereum provider: Infura

    FUTURE DEVELOPMENTS

    2018 Q2
    V1
    • Interface:
    ◊ production ready progressive app for tellers
    ◊ beta physical stores auction process
    • Smart contract:
    ◊ beta version of zone auction process to reserve a zone on the map
    • Map:
    ◊ centralized moderation for physical stores to avoid illicit businesses
    ◊ app stores: Android and iOS native apps
    R&D:
    • Payment: alpha version of payment channel network for physical store payments
    • Provider: IPFS/Swarm browser Ethereum node
    • Map: decentralized map via IPFS/Swarm
    2019 Q1
    V2
    • Interface:
    ◊ Production ready for physical stores to be visible on the map via a freemium model.
    ◊ Physical stores can stake ÐTR tokens to be more visible on Dether map.
    • Smart contract:
    ◊ zone auction process to reserve a zone on the map
    ◊ additional feature for tellers: ETH to cash instant trades
    ◊ Peer-to-peer messaging: encrypted chat integrated in the app (Whisper)
    • Map:
    ◊ Decentralized moderation for businesses visibility on Dether Map
    • Additional features:
    ◊ Wallet: external stable coin integration for ETH/Stable coin conversions
    ◊ Trade sponsorship between users
    ◊ Optional feature: external KYC for buyers and sellers (Civic, uPort).

    2020 Q1
    V3
    • Interface:
    ◊ Desktop app improvements for users
    ◊ Tellers and physical stores services automation (ex: trading Ether/fiat automation for tellers; physical
    stores bills emission).
    • Smart contract:
    ◊ Keywords auction process on Dether Map for physical stores
    • Map: IPFS/Swarm
    • Ethereum provider: Browser node via IPFS
    • Reputation system: addition of a decentralized reputation system for physical stores based on comments
    and feedback given by users after trades
    2021 Q1
    V4
    • Interface:
    ◊ Decentralized front-end on IFPS/ Swarm
    • Smart contract:
    ◊ Voting rights for Dether Community members submitting proposals and voting for Dether’s future
    developments
    • Map: IPFS / Swarm
    • Usage of external service for decentralized court and trade arbitration

    ÐTR TOKENS PROJECTIONS

    ÐTR token total supply: 100.000.000 ÐTR max will be minted during the crowdsale.
    Maximum cap on crowdsale: € 15 million
    Method: ETH accepted


    Crowdsale: 52%
    Tokens will be directly distributed to contributors as soon as the crowdsale ends.
    Founders, team & early contributors: 15%
    Tokens for the team members, as well the founders, will be vested for 2 years with a 6-month release
    program. Tokens for early contributors will be vested for 6 months.
    Bounty: 3%:
    Participants of the bounty program will receive their tokens as soon as the crowdsale ends.
    Reserve for future usage: 30%
    Tokens will be locked for 2 years. After that, tokens will either be progressively reserved for future
    developments, distributed every 6 months for 4 years and/or they will be progressively burnt according to
    the amount of tokens previously bought and burnt. Distribution decisions will always be made in regards
    to the revenue generated.

    COSTS AND FUNDING BREAKDOWN

    Funds raised during the crowdsale will cover Dether’s development and its operational costs. Distribution
    will include: core development, operational, marketing, communication and business development, legal and
    compliance.

    Core development by Dether’s team – 40%

    The technology and the solution will be developed by Dether’s team. Therefore, the most important cost
    section will be dedicated to recruiting the best team members over the next five years.
    Core development will involve the development of the technology as described in this document. This
    includes the entirety of the developments detailed in the roadmap towards a fully decentralized mobile
    solution that enables peer-to-peer ether trading and payment.

    Operational – 20%

    This covers the necessary costs incurred for a functional system. This includes: hosting and infrastructure
    costs, offices, daily operations, indirect employment-related costs, management and other related expenses.
    Communication, marketing and business development – 25%
    Communication costs will be used to make Dether visible in regions where the market is most profitable
    and where it is needed the most.
    Marketing and business development costs will be used for partnerships with big retailers and international
    physical stores and companies that will accept ether as a means of payment and/or operate fiat/ether
    exchange.

    Legal and compliance – 15%

    Legal and compliance costs will be associated with the development of Dether’s decentralized and
    international solution. Legal costs might vary from region to region regarding KYC and AML regulation, fiat
    to cryptocurrency exchange, and paying in ether at physical stores. Regulatory approvals may be required
    in some regions, although our goal is to maintain privacy protection, peer-to-peer trading and the fight
    against censorship for our users from all over the world.

    Links:

    Website:

    News:

    White Paper:

    Slack:

    Blog:

    Reddit:

    Twitter:

    Github:

    Facebook:

    Telegram:



  • Dether Development Transparency — Part 1

    Unveiling Dether’s P2P network of Ether traders and shops.

    This blog post is the first in a series of articles describing the technical choices of Dether, and our long term vision. In this first article, we will answer all the major questions we’ve received up until now about our major choices thus far.

    1/ Why Ethereum?

    People often ask us why we’ve chosen to help cryptocurrency reach mass adoption using Ethereum and not the first cryptocurrency (in term of marketcap) which is Bitcoin. There are different reasons for that.

    The first is that today, Ethereum is the most reliable blockchain for smart contracts. And this is crucial as we see Dether and its protocol to be fully decentralized, and reachable everywhere by everyone. Also, as true Ethereum believers, we strongly believe there will be a growing demand for an easy access to ether, and also tokens. Moreover, ether can be an easy entry to get other cryptocurrency in general, as in most exchanges, ETH is paired directly with all other major cryptocurrency.

    2/ Why do you have a token instead of taking a fee?

    Having an easy access to get ether using cash is a need shared by a lot of decentralized applications (Dapps). We have verified this assertion after the launch of Dether’s alpha, as we have been contacted by many teams working on Dapps. That’s the reason why Dether will have an API to enable an easy access to all information we have gathered.

    Using a private paying API through Ethereum makes no sense. However, it makes more sense to develop a protocol based on a token instead of a centralized application taking fees.

    In order to succeed in creating a reliable protocol with an incentive for using it, you need your own token to keep and share the value created in your ecosystem.

    The drawback of having a token is that you create friction and add hidden costs to your users’ interactions (conversion cost etc..). That’s why we will have a freemium token system based protocol, where it will be possible to use the protocol without tokens, but users will be incentivised to use it. We will go in depth in Dether’s token system in further articles, but it aims with multiple mechanisms to incentive everyone in the app, without creating friction for new users.

    For more information about the use of the ÐTR token, you can find all the explanations related to our token model in Dether’s whitepaper: http://whitepaper.dether.io

    3/ Why have you chosen to use a PWA (progressive web app) instead of a native app?

    https://alpha.dether.io

    We launched Dether’s alpha on October 2017 on Ethereum Kovan testnet.

    We have chosen to use a PWA because it facilitates a lot of things. First, you don’t have to go through any AppStore validation. And currently, for a crypto-related mobile app, it can be challenging to be validated by the AppStore.

    Also your app is platform agnostic. A progressive app may run normally like a website, but we chose to encourage people to add it on their phone home screen, to recreate the mobile experience. So we put in place a system where we detect if the users are using their browser and show them a very simple installation process to follow. And once we detect that the app is running through the home screen link, we launch the real app. Thus, we recreate a mobile app experience, with an easy version management, and AppStore censorship resistant.

    So once installed, it’s easy for a user to come back to the app instead of relaunching the app. As a javascript and mobile app community member, we are already seeing this switch in mentality of thinking that this kind of mobile app will become a more standard way of doing things, going forward.

    As a result, in less than a month, more than 3.000 people all over the world have installed Dether on their mobile phone and used it.

    4/ Do you really have no back-end?

    Yes, the alpha runs without any back-end, as we just need some external API, like mapbox for the map, and our own Ethereum provider. That’s it! For the rest, it’s just web3 to Ethereum node communication. This architecture has some drawbacks: loading a lot of data from an Ethereum node, can be a struggle, so for example, in the first version of alpha, we were loading all the ether sellers on the map.

    Ether sellers located on the Dether map

    But as more and more ether sellers were added, it’s too long to handle this data. Now, we load only the ether sellers from the country where you are. And for the first mainnet beta version, we will load only the sellers from your postal code and the ones closest to you.

    5/ How do you handle a user’s private key?

    We create the mnemonic phrase with entropy generated by the user’s phone move, and generate one private key. Once created, we encrypt it all with the password provided by the user and store it in the local storage of the app.

    For every transaction in the app, we decrypt the private key with the password provided by the user to sign the transaction (but never keep the private key in memory), and broadcast the signed transaction through our Ethereum node.

    This way, the private key is never stored decrypted in the system, and it never leaves the user’s device.

    6/ Do you plan to add other cryptocurrencies?

    We will add ERC20 tokens in Dether’s future version. It will be possible for users to buy and sell token using cash anywhere in the world. For other cryptocurrency, we are looking for solutions to bridge the Ethereum ecosystem and other cryptocurrency.

    Rootstock (RSK) <> Dether @Devcon3

    For now, we are thinking about Cosmos, which will be soon available, and Rootstock (RSK) which will be an EVM side chain to Bitcoin. Our main concern about that is that layer should be pegged in some way with our token. And it’s definitely something we would like to add for 2018.

    Next article to be published in the Dether Development Transparency Series: “Introducing Dether.js”

    < LET’S GET IN TOUCH >

    Slack: http://slack.dether.io Telegram: http://t.me/Dether_io

    Thanks to Mehdi amari.



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