Utilities
Dapps Energy Token Utilities
Last updated
Dapps Energy Token Utilities
Last updated
Dapps Energy is the utility and governance token for the Smart Dapps ecosystem, playing a crucial role in facilitating interactions and shaping the future development of the platform. As a cross-chain token, Dapps Energy streamlines user experiences and provides unique advantages for developers and users alike.
1. Universal Gas Token for Smart Dapps Interactions
One of the primary use cases for Dapps Energy is to serve as a universal gas token for Smart Dapps interactions across multiple chains. Currently, developers and users must deal with different tokens as gas fees when interacting with dApps or NFTs on various blockchains. Dapps Energy simplifies this process by allowing users to pay gas fees with a single token, regardless of the underlying chain. This not only enhances the user experience but also reduces the barriers to entry for newcomers to the Smart Dapps ecosystem.
In the above diagram, you can see that a user has installed four applications (Smart Dapps) on the Dapps Console: App1, App2, App3, and App4. App1 and App2 have been made gasless by their developers, so users do not pay for any on-chain calls or interactions. Instead, the developers bear the cost for the transactions by paying in Dapps Energy tokens to the Dapps Hermes Validator nodes. These validator nodes execute the transactions on behalf of App1 and App2, respectively.
For App3, the user bears the cost of on-chain transactions in Dapps Energy tokens, which serve as the universal token for interacting with any chain. This request is forwarded to the Dapps Hermes validator nodes as meta transactions, which then execute the transaction for the user on the chain (in the above example, on Ethereum).
For App4, the developers have neither enabled gasless transactions nor allowed Dapps Energy meta transactions. Consequently, the user pays for the transaction in the native chain token on which the Smart Dapp is minted. In the above example, that's on the Polygon network, so the user pays in Matic tokens.
2. Governance and Decision Making
Dapps Energy empowers the Dapps community to participate in governance and decision-making processes. Token holders can propose changes, improvements, or new features for the Dapps Smart Dapps platform, and the community can vote on these proposals using their Dapps Energy tokens. This decentralized governance model ensures that the platform remains adaptable and evolves according to the needs and desires of its users.
3. Incentives for Developers and Users
Dapps Energy can be used to incentivize developers and users to actively participate in the Smart Dapps ecosystem. Developers can earn Dapps Energy tokens by creating and deploying popular Smart Dapps applications, while users can be rewarded for their engagement with these applications. This incentive structure encourages the growth of a vibrant, active community and drives further innovation in the Smart Dapps space.
4. Staking and Delegation
Dapps Energy tokens can be staked or delegated to support the underlying infrastructure Smart Dapps. By staking their tokens, users contribute to the security and stability of the network, and in return, they receive a share of the platform's revenue, such as fees generated from Smart Dapps transactions. Users can also delegate their tokens to reputable node operators, sharing the responsibility of maintaining the network while still earning rewards. We will cover more about this in our next section on Validator nodes.
5. Token for Infrastructure Tools
Another key use case for the Dapps Energy token is to facilitate payments for developers who utilize Dapps.co's infrastructure tools, i.e., the Smart Dapps Toolkit. When developers access and use tools like Unstoppable Messaging, Dapps Soul, or Dapps Hermes, they will pay for the services using Dapps Energy tokens. This creates a seamless and unified payment system for the Smart Dapps ecosystem, further empowering developers and reinforcing the value of the Dapps Energy token within the Dapps.co infrastructure.
In the world of decentralized applications, the Dapps Energy token serves as the lifeline, enabling users to engage in diverse activities in a streamlined and efficient manner. To help you understand how instrumental this token is, we bring to you a couple of user stories that demonstrate the utility of the Dapps Energy token in day-to-day transactions within the ecosystem.
User Story: A Financial smart dApp Interaction with Arjun
Imagine a user named Arjun, an avid crypto enthusiast who is keen on exploring the latest decentralized financial products. As he logs into his wallet, he interacts with a finance smart dApp, driven by the promise of a decentralized future.
He buys a financial product, paying for it using Dapps Energy tokens through the Commerce Module, making the transaction process smooth and seamless. Later, he has a question about his recent purchase and sends a customer service request via the Unstoppable Messaging platform, with Dapps Energy tokens facilitating the interaction.
Arjun, being a forward-thinking individual, sets his financial goals using Dapps Soul, where the application of Dapps Energy tokens helps define and track his financial aspirations. In his enthusiasm, he invites a friend to join this financial venture using Dapps Hermes, again utilizing Dapps Energy tokens for the process.
It's crucial to note, however, that Arjun is not obliged to possess Dapps Energy Tokens in his wallet. Instead, the smart dApp developer can absorb the costs on his behalf, creating a frictionless experience for Arjun and encouraging wider adoption of the platform.
In this flowchart:
User Arjun logs into his wallet and interacts with a finance smart dApp.
He buys a financial product using the Commerce Module, which uses Dapps Energy Tokens to purchase the product.
He sends a customer service request using Unstoppable Messaging, which uses Dapps Energy Tokens to send the request.
He sets up his financial goals using Dapps Soul, which uses Dapps Energy Tokens to set the goals.
Finally, he invites a friend to invest using Dapps Hermes, which uses Dapps Energy Tokens to send the invitation.
User Story: A Health smart dApp Interaction with Sunita
Now, let's take the example of Sunita, a health-conscious user who is eager to integrate decentralized applications into her wellness regimen. Sunita logs into her wallet and interacts with a health smart dApp to explore wellness plans and services.
She decides to buy a health plan, using Dapps Energy tokens through the Commerce Module to make the purchase. Later, she needs a doctor consultation and sends a request via Unstoppable Messaging, facilitated by the use of Dapps Energy tokens.
Eager to maintain her wellness journey, Sunita sets her health objectives using Dapps Soul, where Dapps Energy tokens play a pivotal role in outlining her wellness trajectory. Inspired by her health journey, she invites a friend to join a health challenge using Dapps Hermes, with the invitation powered by Dapps Energy tokens.
It's crucial to note, however, that Sunita is not obliged to possess Dapps Energy Tokens in her wallet. Instead, the smart dApp developer can absorb the costs on her behalf, creating a frictionless experience for Sunita and encouraging wider adoption of the platform.
In this flowchart:
User Sunita logs into her wallet and interacts with a health smart dApp.
She buys a health plan using the Commerce Module, which uses Dapps Energy Tokens to purchase the plan.
She sends a doctor consultation request using Unstoppable Messaging, which uses Dapps Energy Tokens to send the request.
She sets up her health objectives using Dapps Soul, which uses Dapps Energy Tokens to set the objectives.
Finally, she invites a friend to join a health challenge using Dapps Hermes, which uses Dapps Energy Tokens to send the invitation.
User Story: An Educational smart dApp Interaction with Ravi
Meet Ravi, a lifelong learner who seeks to leverage the power of decentralized applications to fuel his thirst for knowledge. Ravi logs into his wallet and steps into an enriching world of learning by interacting with an educational smart dApp.
Driven by curiosity, he decides to access premium content, unlocking it using Dapps Energy tokens through the Commerce Module, making education more accessible and engaging. As he immerses himself in the learning process, he stumbles upon a complex concept and decides to submit a query. He does so through Unstoppable Messaging, with Dapps Energy tokens powering the query submission.
Recognizing the importance of a personalized learning experience, Ravi decides to customize his learning path using Dapps Soul. This unique feature uses Dapps Energy tokens to carve out a path tailored to his learning objectives. In the spirit of collaborative learning, he invites his peers to participate in a group study using Dapps Hermes. The initiation of this learning collaboration is facilitated by Dapps Energy tokens.
It's crucial to note, however, that Ravi is not obliged to possess Dapps Energy Tokens in his wallet. Instead, the smart dApp developer can absorb the costs on his behalf, creating a frictionless experience for Ravi and encouraging wider adoption of the platform.
In this flowchart:
User Ravi logs into his wallet and interacts with an educational smart dApp.
He accesses premium content using the Commerce Module, which uses Dapps Energy Tokens to unlock the content.
He submits a query using Unstoppable Messaging, which uses Dapps Energy Tokens to send the query.
He customizes his learning path using Dapps Soul, which uses Dapps Energy Tokens to personalize the path.
Finally, he participates in a group study using Dapps Hermes, which uses Dapps Energy Tokens to initiate the group study.
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