DSP DAO TOKEN ECONOMICS

This series of blog posts will be explaining the DSPDAO in detail. It will start with an overview of the DAO, and then move on to discussing its various components in hopes that it will provide you with a better understanding of what the DSPDAO is trying to achieve, and give you some idea of the work involved. Stay tuned for more posts in the coming weeks!

DSP Protocol

The DSP Protocol is governed by a DSPDAO also known as a decentralized community of DSP Coin holders and their delegates who propose and vote on upgrades to the protocol.

The DSP protocol is a series of smart contracts based on the most recent federal and state regulations required to reimburse for Medicaid/Medicare-related services in home, community, or workplace settings.

The DSPDAO is a short and long-term solution that has been created in the wake of the DSP crisis. With clinicians as its backbone, it provides support from people who work within healthcare and offers guidance with governance ensuring consistency across all members’ needs are met without any room left unfulfilled.

The DSPDAO’s uses the Optonome app for DSPs to satisfy the smart contacts in order to distribute token rewards.

Thousands of people have used Optonome since 2014. The Optonome mobile application provides the user immediate value with all communication types in a single app plus the ability to train to become a DSP in the protocol to earn CryptoDSPs, Coins, or cash.

Token Economics

The study of economic models and token distributions in the cryptocurrency market has become known as “token economics’’ over recent years. For any crypto to have value, it needs some incentive for users which can be anything from governance mechanisms like democracy or shareholder resolutions; A balance between supply and demand through burn transactions — this helps maintain scarcity while also increasing price stability. There are many different ways that cryptocurrencies reward their holders but for this paper, we will be taking a look at some of the main token economic models seen in the crypto market today.

The DSP protocol was created from the different economic models and token distributions in the cryptocurrency market. Bitcoin is considered a deflationary model because of its hard cap. Solana and Ethereum are considered inflationary token models because of no hard cap and ability to iterate and make small changes.

The DSP Protocol is a combination of all these and more because there is a hard cap on coins as well as the ability for those providing governance to iterate the protocol based on payer requirements. The protocol also includes no cap on NFT’s.

The CryptoDSP minting process creates a dual token reward feature that can be found on the DSP Exchange, with two distinct tokens that can be placed on different blockchains to save on costs.

Token Types Incentivize Its Users

CryptoDSP

The Non-Fungible Token (NFT) is called a CryptoDSP. One CryptoDSP is gifted to the DSP for each hour of service. The DSP and care team receives a gift bag of DSP Coins ($DSPC explained below) for completing each preauthorized visit. Having a visit preauthorized guarantees payment by a 3rd party.

The CryptoDSPs can live on any blockchain as the utility is within the DSP Protocol. The DSP creates the utility by offering 1 hour of service for every 50 CryptoDSPs collected.

If a DSP decides to sell the CryptoDSP at the market rate they will be able to pay their provider back what was paid out to them in order to receive a higher hourly wage up to $50 per Crypto DSP hour. For example, a DSP receives payment for services from their employer and a Crypto DSP reward goes directly in the wallet of the DSP. The DSP then has one of the following options:

  1. Sell the NFT in the open market
  2. Hold it for themselves
  3. Exchange/barter for another service or product

If option 1–3 occurs, the provider will add the funds to be paid to the treasury and that money is used to purchase bitcoin. Investment in bitcoin solves many problems, It gives:

  1. Providers an instant opportunity to grow and support more people
  2. Providers the ability to continue to provide service if there is a delay in payment
  3. Families peace of mind
  4. Care team members have the ability to participate in more activities

DSP Coin

The fungible token is called the DSP Coin and the contracts are currently being audited where DSP Coins will be distributed once per day when and only when at least one CryptoDSP is minted.

DSP Coin Value

DSP Coins have features that are asset-backed, deflationary, and inflationary.

  • The value is backed by bitcoin and providers using the DSP Protocol which means the coin price can never go lower than the total value locked in when bitcoin was purchased, and the revenue generated from Optonome’s CEO’s revenue. This offers increased fortification of the coin’s value.
  • There is a hard cap on the number of tokens created which acts as a deflationary mechanism, as demand will increase over time but supply will not
  • There will be iterations to the DSP Protocol based on state regulations and clinician-led governance
  • The distribution of coins is based on a CryptoDSP being minted
  • Those who hold CryptoDSPs are incentivized greatly with healthcare benefits
  • Those who hold DSP Coins are incentivized with Bitcoin-Backed Security and the growth in services within the protocol, guaranteeing more fees paid out by providers to the protocol, which will ultimately increase over time as more people age in place

DSP Coin Reward Distribution

With the great resignation and DSP crisis occurring at the same time, there needs to be a rewarding method for the DSP community to increase the wages of DSPs everywhere. Here’s how: (see diagram)

The Token Economy

If you’re new to the world of cryptocurrencies, then you may have heard of ‘token economies’ but aren’t sure what they are. In a nutshell, token economies are systems in which participants earn digital tokens for completing specific tasks or meeting certain goals. These tokens can then be exchanged for goods or services within the system. Token economies offer a number of benefits, not least of which is that they help to create a sense of community and encourage cooperation among participants.

The token economy is nothing new to DSPs; they enforce the use of tokens when supporting individuals with autism and other intellectual disabilities. Money is one of the biggest token economies. A $20 bill can be traded for goods and services. It is a placeholder. It only has value for those who recognize it has value. Those who understand its value get really excited when they receive that money. In the same way, the token economy allows DSPs via the DSP Exchange a way to easily exchange CryptoDSPs and DSP Coins for other things they desire within the protocol.

The DSPs and the care team members receiving the gift bag of DSP Coins get to choose what to do with the rewards. The token economy allows them to make a decision about what they want to do with the coins such as purchasing, donating, or holding, using the DSP Exchange. Families and providers can then set up tokenized environments as well to help their child or sibling achieve optimum autonomy.

As you can see the distribution method of the two tokens is a combination of inflationary and deflationary reward models but with a fixed hard cap. This approach incentivizes clinicians for being early adopters by giving the highest rewards, which helps speed adoption by incentivizing DSP Coin discovery.

The DSP Protocol is funded in many ways

Provider Fees

Swap Fees

The deflationary features of the DSP Coin are that there are no VCs, no pre-mine, and no presale. All 1 billion tokens will be fairly distributed to DSPs and care team members over the next 78 years when an actual service visit is completed since it creates value to the protocol in the form of revenues paid out by 3rd parties in fiat. Optonome’s clinician-led home healthcare businesses could have created an estimated 10 BTC from 2021 revenue.

In 2022, our plans are to launch out of testnet allowing clinicians to become licensed providers without 3rd party assistance, thereby maximizing the potential revenue coming into the protocol. The community is currently looking for developers please send resumes to cryptodsps@gmail.com. Compensation will be paid in DSP Coins. With the added value of the CryptoDSPs, we are solving the DSP crisis by giving optimum autonomy to the DSP through the DSP Exchange. Based on our roadmap, The DSPDAO is launching an IDO. An IDO is a decentralized exchange allowing anyone to provide liquidity allowing DSP Coin holders to exit our economy. There is a tax when this happens so the DSPDAO is developing ways for local businesses, individuals, and families to receive the items they want within our economy to save on transaction fees using the DSP Exchange.

Value Proposition for DSPs

With DSPDAO, DSPs can finally earn the rate they deserve for providing services. Using the Optonome application, they can quickly and easily train to earn more per hour. Plus, with CryptoDSPS they will have even more control over their earning potential. With DSPDAO, they’re in charge!

Value proposition for clinicians

Join a community with more than 150 clinician-led businesses that will be providing home healthcare services around the united states.

Clinicians are currently building lifelong connections and friendships in our local community with other clinicians interested in creating a social impact.

  • Get real-life experience from day one
  • Use the Optonome app to provide services.
  • Be a part of the protocol whenever you can and an advisory board to help oversee services
  • A community and mobile app that does all the heavy lifting so you feel supported by your peers daily.
  • No money upfront to start a home healthcare business.
  • Competitors charge up to $100,000 to go through the licensing process. The DSPDAO has changed the game and is giving healthcare workers like you a chance to build a legacy for yourself and your family.
  • No business experience is required. With Optonome and the #DSPArmy, your back office is put on autopilot so you can do what you do best. Provide care.

Value proposition for investors

It’s no secret that the digital currency market is booming. With new opportunities arising every day, it can be hard to know where to invest your money. But if you’re looking for a coin with plenty of growth potential, along with clinician-led businesses generating recurring revenue, DSP coins ($DSPC) are worth considering. Despite its smaller size, the DSPDAO is committed to innovation and continues to bring new features to the table. Those who hold DSP Coins can:

  • Help Mine for liquidity
  • Yield Farming

Those who provide liquidity are attracted by the high yields on their assets along with added security that the DSPC will maintain stability being backed by a blend of Bitcoin and the revenue growth of the businesses. As the community grows, investors will be incentivized based on those trading as well as the growth of human services, not proof of work or stake.

If you’re looking for a strong, fundamental-driven DAO, participate in the DSP DAO by buying, staking, or providing liquidity for DSPC or by holding Crypto DSPs.

Value Proposition for Families

DSP Exchange is the perfect way for families to save on long-term care costs! Based on the demand of the CryptoDSP a family can save up to 75% off long-term care. Plus, a collector can enjoy all the benefits that come with Optonome. We have a starting point that includes care and housing.

Purchase 1 Genesis CryptoDSP and gain $DSPC each day for 2 years

https://opensea.io/collection/cryptodspsgenesis

Scenario 1

Collect 1 Genesis Crypto DSP to earn an additional 730 $DSPC which could then be used to purchase 29 additional CryptoDSPs through the DSP Exchange if the $DSPC price is $1

Scenario 2

Collect 1 Genesis Crypto DSP to earn an additional 730 $DSPC which could then be used to purchase 146 additional CryptoDSPs through the DSP Exchange if the $DSPC price is $5

Scenario 3

Collect 2 Genesis Crypto DSPs to earn an additional 1460 $DSPC which could then be used to purchase 292 additional CryptoDSPs through the DSP Exchange if the $DSPC price is $5. In this scenario, one could receive 5 hours of DSP services with clinical oversight for two years.

Scenario 4

Collect 2 Genesis Crypto DSPs to earn an additional 1460 $DSPC which could then be used to purchase 292 additional CryptoDSPs through the DSP Exchange if the $DSPC price is $5. In this scenario, one could offer 5 hours of DSP services to another person with clinical oversight for two years.

--

--

--

The mobile, communication, training and management platform covering the entire spectrum of home and community healthcare

Recommended from Medium

$SCAT Presale coming soon! (15 may 2021–16:00 UTC time)

PancakeSwap Welcomes Dego Finance to Syrup Pool!

CrownSwap will be the first ecological application to land on the Poriot public chain

PARTNERSHIP ANNOUNCEMENT

VipexCoin IEO

An Introduction to Censorship-Resistant Store of Value

UFC: MMA fans will be able to choose which fighters get bonuses in Bitcoin (BTC), thanks to Crypto.c

UFC: MMA fans will be able to choose which fighters get bonuses in Bitcoin (BTC), thanks to Crypto.com

Final $SMG Tokenomics & Distribution

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Dennis Dicker

Dennis Dicker

Self Made. Real Estate Mogul. Serial Entrepreneur. Computer Engineer. Logical Genius. Founder & CEO Optonome.com

More from Medium

EPNS partners with Atlantis world to disrupt the social metaverse

Creation DAO — Tokenomics

Oort Digital | Oort Heroes — Chainboost IDO Announcement

Spiritual Goats NFT Litepaper