Tokyo, Japan, May 23rd, 2024, Chainwire
The Data Ownership Protocol (DOP) announces the start of its mainnet with a reward program of 460,000,000 DOP tokens to early users. This initiative follows the testnet phase, which engaged 2.67 million participants and enabled more than 545,000 users to make private transactions on the Ethereum blockchain for the first time.
“DOP wants to express gratitude to our early adopters for their support and belief in our ecosystem,” said Kohji Hirokado, DOP’s Co-Founder and former founding member of Cardano. “We aim to spread awareness about the unprecedented flexibility and control now available to Ethereum users worldwide, the world’s largest blockchain”.
With the mainnet launch, DOP aims to reward those who use the protocol to manage their financial data, which is typically publicly visible on block explorers. To incentivize adoption, the protocol has allocated 2% of the total supply to mainnet airdrops, with rewards initially calculated based on the last private sale price of $0.082 per token.
However, the exact value of each DOP token will be determined upon its listing on centralized exchanges, following ongoing negotiations, according to the DOP team.
The protocol, which raised $162 million from a private sale primarily led by the community, allows users to encrypt and decrypt all ERC-20 tokens, send them between DOP wallets, and lets users decide who can access their personal financial data such as balance and transaction records.
Matan Almarkis, Head of Protocol at DOP, explained: “Crypto will never go mainstream if every time we use our crypto wallet, the other person, the receiver, can see all of our financial information. They can see our balances. They can see our transaction history. They can see our holdings. Imagine if we had the same structure, the same system in our credit cards. We would never use them again. So how does it make sense when it comes to crypto?”
Kohji Hirokado, DOP’s Co-Founder, explained the concept of selective transparency, allowing users to decide what data to share and with whom. He stated, “Over-transparency is a bug that we’ve gotten used to. For the first time, finding the middle ground between complete privacy and blockchain over-transparency is actually possible”.
DOP has secured partnerships with Chainalysis to filter transactions and block illegal funds, and recently signed a collaboration to enable Bitcoin.com’s nearly 50 million wallet holders to control what information is shared and with whom.
About DOP
DOP (Data Ownership Protocol) is creating a future where individuals have full control over their financial information. Through its innovative blockchain-based protocol, DOP aims to let users own their data and securely manage who can access it or not.
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DOP
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