Announcement on Issuing First National Token DMC by Tron, Huobi, DMC Labs with Dominica Government Endorsement
In our latest efforts to advance the global development of Web3.0 and Metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world's first national token DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica. The parties involved here will also roll out the Dominica DID, also a first to a nation, in proper time. Both Dominica DID and DMC were originally issued on Tron Network. Later on, they will support cross-chain interaction with Ethereum, BSC, and other public chains via the BitTorrent Chain protocol. Tron, BitTorrent, and DMC Labs are third-party technology providers for DMC issuance.Tron Network is the designated national blockchain infrastructure of the Commonwealth of Dominica. Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future Metaverse world.
This is the first time for a digital token offering which has been officially authorized by a nation, and it is set to usher the virtual asset industry in a new era！
About DMC and Dominica DID
● The issuance of Dominica Coin (DMC) is endorsed by the Dominica government. DMC is the world’s first national token, as well as a symbol displaying the embracement of countries to virtual assets and metaverse. DMC is issued on the TRC 20 standard and will be expanded to the ERC 20 and BEP 20 standards. It will support the cross-chain interaction with Ethereum and BNB Smart Chain through the BitTorrent Chain protocol.
● DMC will be issued on Huobi Prime in due time.Meanwhile, Huobi will airdrop DMC tokens and enable the Dominica DID application to each registered user.
● Users can complete identity verification on Huobi with their Dominica DIDs. Users who have already completed identity verification will also acquire the Dominica DIDs.
● A Dominica DID-verified account enjoys the same rights and interests as an account verified via any other nationality on the premise of compliance with laws and regulations.
● Users can transfer their Dominica DIDs to the Tron network to generate Soul-Bound Tokens (SBTs) which entitle the holders to all rights and interests endowed by SBT. Moreover, in the Dominica Metaverse, SBT holders are entitled to Metaverse Dominica digital citizenship that is completely mapped from the real world.
● Official physical certificates of DIDs are available after users have filled in the mailing address and paid the necessary handling cost.
DMC Token Privileges
DMC is required when users sign up for Dominica DIDs.
DMC is required when users renew the Dominica DIDs.
DMC holders have the opportunity to obtain passports issued by the Government of Dominica, which allows holders to enjoy visa-free access in over 130 countries and regions around the world, including the EU, Switzerland, the UK, Singapore, Russia, Brazil, Hong Kong, etc.
Just like TRX, USDD, and other tokens, DMC is granted a statutory status as an authorized crypto in the Commonwealth of Dominica and can be circulated locally in Dominica as a means of payment.
In the future stage of Dominica Metaverse, DMC will be used to build the Metaverse as a basic token. DMC holders will enjoy a variety of privileges in the Metaverse.
DMC holders are eligible for airdrops of TRX, BTT, SUN, JST, and DMC
Dominica DID Privilege Program (Potential, Including but Not Limited to)
Can be used as a KYC verified ID of the mainstream trading platforms (Metaverse KYC, embracing a new era of Web 3.0 DIDs
Can be used to open bank or financial accounts based on local laws and regulations
Can be used to apply for loans
Can be used to register companies that provide digital service
Can be used to claim dig ital currency airdrops
Can be used for KYC verification
The Commonwealth of Dominica, referred to as Dominica, is said to be a bright pearl among the island nations in the Caribbean. The island faces the Atlantic Ocean to the east and the Caribbean Sea to the west. Dominica is a member of Commonwealth of Nations and has its own sound legal system based on English common law. At the same time, as a developed country in the Caribbean, it is also a member of several international organizations: the United Nations (UN), the International Monetary Fund (IMF), the World Bank, the Organization of American States (OAS), and Caribbean Community (CARICOM). Dominica is a truly safe and stable democracy as there has never been any war or regional conflict since its establishment. It is one of the most peaceful countries in the Caribbean. The country has a population of more than 70,000, and rank the top in the recommendations of international migration by the United Nations due to its stable and harmonious society, together with the lowest crime rate. Dominica has been crowned as one of the safest places in the Caribbean and Latin America.
It boasts its most naturally beautiful attractions in the world, with lush green mountains, countless scenic rivers, and waterfalls, and breath-taking white and black sandy beaches. Dominica is known as a traveler's paradise due to its abundance of beaches and tropical rainforests. The boiling Lake is the second-largest hot spring in the world that has gained popularity among tourists all year.
Dominica is one of the first Caribbean countries to launch a citizenship by investment program. Since its launch in 1991, the Dominica citizenship by investment program has been in high demand. The Commonwealth of Dominica citizenship by investment program has no language, age, business background, or educational standards, and there is no interview required. Dominica passport allows visa-free entry to over 130 countries and regions worldwide, including the European Union, Switzerland, the United Kingdom, Singapore, Russia, Brazil, Hong Kong (China) and Mainland China.
● When claiming DIDs, participants who are found to be involved in any fraudulent behavior, including but not limited to money laundering, account manipulation, and self-trading, will be disqualified. Huobi reserves the right to freeze the cheating accounts, confiscate any gains from the fraudulent behaviors, and impose other penalties as necessary.
● Huobi reserves the right of final interpretation of this event.
● Huobi reserves the right to modify, change or cancel this event for any reasons without further notice.
November 29, 2022