By
Kofi Ansah
September 20th, 2022
The first peer-to-peer ether network aimed at breaking the barrier between cryptocurrency and cash has announced the ICO.
Gibraltar-based blockchain startup Dether has announced its token generation event scheduled for February, 2018, as it attempts to build the world’s first peer-to-peer (P2P) ecosystem that will allow users to sell, buy and use cryptocurrency easily, including spending it at physical shops.
The Dether Ecosystem
In the spirit of blockchain and decentralization, Dether can become a trustworthy application which uses the security and sophistication of Ethereum smart contracts. Its main objective is to improve accessibility to the cryptocurrency usage and to mainstream mass adoption of Ethereum by featuring quick and simple means of obtaining, trading and spending the cryptocurrency. With Dether, international users do not even need a credit card or a bank account to buy or trade Ether.
Dether co-founder Hamid Benyahia explained that people using Dether tokens (DTH) would enjoy lower fees on trades, that is supposed to encourage the long term use of DTH for conducting transactions:
“Users are incentivized to use DTH tokens to pay fees and be part of the affiliate program. Incentives in ÐTH tokens are guaranteed to users that onboard new users in order to create a decentralized business development system.”
The other co-founder of Dether, Mehdi Amari, spoke on the potential of DTH tokens to provide better user experience thanks to the high level of visibility of all the Dether ecosystem users:
“DTH proposes a freemium model, much like the Google search page. Sellers and physical shops are organically visible. However, using DTH tokens allows users to ensure better visibility and to increase trading volumes.”
Currently the project is in its final stage of development; the beta version of Dether is to go live on the Ethereum mainnet in March 2018. At the moment users are welcome to take a sneak peek at what Dether’s P2P ecosystem looks like by trying out the Alpha version.
With a focus on ease of use and simplicity, Dether is concentrated on the mobile app development. It is supposed to include a smart contract rating system to build a network of trust and reputation. All Dether users, whether buyers or sellers, will have a publicly verifiable reputation rating based on the previous transactions conducted over Dether.
Sellers gain an opportunity to work just like if they were a mobile ATM with the ability to sell crypto for cash locally. At the same time, buyers can interact with the local crypto sellers in their area and pay in local currency. They can choose to do this online via Dether, chatting anonymously to agree on the conditions, or to have a face to face discussion offline. User funds will always be safe and secure, while being transparently available. Sellers can transfer Ether to their Dether wallets – and balances of these wallets are visible to buyers.
Shops can add their stores to the Dether map, expanding their visibility. They can easily accept and manage payments in crypto and seamlessly switch between crypto and fiat currency to minimize volatility.
The Dether Crowd Sale
Dether have confirmed the launch of a crowdsale event on February 7th, 2018. All interested participants must first register to be included on a whitelist. It is to become available on January 15th, 2018; registration would be open for three weeks or until the maximum number of desired participants is reached.
A total of 100 million DTH will be minted; 66% of that amount is to be put up for sale during the crowd sale event. The maximum cap of $8 million equivalent in ETH has been set.
