PRE ICO DATE: JULY 1st 2017 - JULY 15th 2017 [CET]
ICO DATE: JULY 16th 2017 - AUGUST 27th 2017 [CET]
ICO TOKEN PRICE: $1 per DIM Token. 100 DIMCOIN were included with every DIM Token.
ICO AMOUNT RAISED: CIRCA USD$ 14 000 000
CEO AT TIME OF ICO: FABIAN KIPPENBERG
CURRENT CEO: RAYMUND SCHEFFLER
THE DIM ECOSYSTEM
The DIM ecosystem is made up of a group of players, each having a different focus. The locations of each part of the DIM ecosystem is supposedly intentionally different on the premise that being geographically diverse contributes to a decentralised culture throughout.
DIM Foundation Ltd
[Based in Singapore]
The main group outside of the executive team. The DIM Foundation is a non-profit organisation to promote and support the DIM ecosystem. The"DIM Ambassadors" whom were recently recruited across each continent globally are representatives of the DIM Foundation.
DIMCOIN, DIM Token, DIM Currencies and Depotwallet
[Based in Johannesburg, Gauteng]
The DIM currencies and their native wallet, Depotwallet. DIMCOIN, a NEM Mosaic(the NEM equivalent to Ethereum's ERC20) is the speculative coin asset which is to be traded on cryptocurrency exchanges outside the DIM ecosystem. DIM Token exists only in the DIM ecosystem and offers holders of 50+ DIM Token to share in revenues generated from trading fees on the HYBSE platform. Depotwallet is the native wallet built on NEM technology to act as the bridge between the DIM ecosystem and the wider world.
HYBSE
[Originally based/registered in Vanuatu. Current location plans unconfirmed publicly]
HYBSE, a digital exchange for trading cryptocurrencies including digitised securities - it is being built to be the heart of the DIM ecosystem and to be a platform for small and medium sized enterprises to engage in stock exchanges as well as potentially seek capital internationally. It's creation is critical to the intended success of the DIM ecosystem. If delays do not disrupt developments; HYBSE is planned to launch in late June of 2018.
WISE Consulting
[Based in Zug, Switzerland]
WISE is an exchange service to facilitate fiat and DIM currency exchange(E.g. DIMCOIN, DIM USD, DIM GBP, DIM YEN etc.). WISE is in the process of acquiring exchange licences in multiple jurisdictions globally to maintain legal compliance everywhere DIM is traded.
DIMPAY
[Intended location Belize]
The DIM ecosystem's payment solution utilising the DIM currencies through Depotwallet. If HYBSE is the incoming crown jewel in the DIM ecosystem then DIMPAY is a plastic toy in the background pretending to be the real Mc'Coy without ever matching up. Plans have been in place to launch a DIMPAY smartphone app on iOS and Android also but this is delayed until a further date. The production of crypto debit cards are also included in the DIMPAY project but these are also delayed due to the recent, mostly market wide, barriers preventing the majority of crypto-debit card projects acquiring physical cards for their customers.
CEO FABIAN KIPPENBERG'S DIMCOIN DEPARTURE
Fabian Kippenberg's official personal statement
Fabian's departure left many question mark's over the direction of the DIMCOIN ecosystem and it's respective projects. After a successful ICO why would someone leave what was seen to be a very promising project? Obviously it can be speculated that the direction being pursued by those amongst the executive team didn't sit well with Fabian. We mightn't ever know due to NDA's having been signed. Either way stakeholders of the DIM ecosystem were at a loss as to what juxtaposition/s had been discussed on DIMCOIN's roadmap away from public view.
GREED AND IGNORANCE: DIMPAY ICO
The DIMPAY ICO was announced on November 29th 2017 and was conducted from December 4th 2017 through to December 15th 2017. The ICO added no fundamental value to DIMCOIN and it's stakeholders other than the DIMCOIN sold in the ICO being valued at a cost of $0.04 per DIMCOIN in contrast to the $0.01 it was sold for during the original ICO. To go with that there were no DIM Tokens up for grabs alongside the DIMCOIN. With no product/s to showcase yet either, how could DIMCOIN expect it's community to be excited about the DIMPAY ICO and share it with their network? This ICO crashed and burned. It had the feeling of a blatant cash grab and DIMPAY fell short of it's intended funding goal. The marketing was awful; see cringey illustrations on the DIMPAY Twitter page, and the timing was wrong.
GREED AND IGNORANCE: HITBTC DEBACLE
Even though the needle dropped quickly, DIMCOIN boasted about it's listing on HitBTC launching at 3000% it's ICO price. The announcement was incredibly irresponsible as a significant amount of DIMCOIN holders struggled to send their coins from Depotwallet to HitBTC due to a technical error on the exchanges end, and other users failing to include a payment ID in their transaction(it allows HitBTC to separate ownership of transactions).
An apology on this issue wasn't forthcoming until January 5th 2018 . Quite late in the spectrum of events that took place over those weeks and left a large part of the DIM community in limbo during the Western festive season.
NEW WAYS OF COMMUNICATION?....
The departure of Fabian Kippenberg culminated with the appointment of Richard Lendrum to be the sole Head of Communications. Along with this came new formats of communication. The first a PDF style document newsletter which didn't scale to large format on Twitter well at all. The second would be a weekly AMA on Reddit where Richard Lendrum and the communication team answered questions from the community. Within the weekly AMA questions that had been answered or put off in previous AMAs were asked over and over again. This was a clear sign that the information in the FAQ summaries of each AMA(produced in the unpopular PDF style document newsletter) wasn't being taken in by the community.
Both the PDF style document newsletter and weekly AMA persisted far too long and conjured a gap between the DIMCOIN team and the DIMCOIN community. Quality of communications had declined.
These have since been replaced by a much more informative and effective weekly DIMCOIN update/newsletter via Medium. This communication form is on par with the crisp and beautiful marketing we saw during the DIMCOIN ICO. Credit to the team for changing it.
RECRUITMENT OF EXPERIENCED CTO
The addition of Klaus Heeder to DIMCOIN, March 2018, adds real steel to the team. It was crucial they recruited a person with vast experience and as someone who helped launch the 3G and 4G networks in Europe, Klaus certainly has that. Blockchain of course is a very different technology but adoption, in the appropriate form, is inevitable similarly to the high speed mobile internet networks that were being anticipated a decade a go.
What DIMCOIN needs to do going forward:
- Reevaluate the DIMCOIN roadmap and goals.
- Give the project and community updated direction for the next 12 months.
- Partner with other serious players in this space.
- What DIMPAY is trying to do is being done better by other projects, Monaco, TenX, Wirex etc. Work with them.
- ERC20 built Polymath is in the digital securities space and Coinbase have also recently announced they are entering the digital securities space too.
- Polymath's digital security innovation, the ST20 security token standard, doesn't take value away from DIM's HYBSE. The two can compliment one another. There is exciting potential there.
- Ensure the same mistakes are not repeated again during HYBSE's lifetime.
- The recently instated DIMCOIN Ambassadors can maintain the direct relationship of DIMCOIN and HYBSE with the community through applications such as Telegram and Twitter.
- Hire an excellent PR firm to manage the professional relationship of HYBSE with the global community.
- Assist in finding a solution to the problem that NEM Mosaics face when trying to get listed.
- This was a big obstacle for DIMCOIN. Consider opening up the trading of NEM Mosaics on HYBSE.