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DOS Network

DOS Network

DOS Network is a decentralized oracle service network created to boost blockchain usability with real-world data and computation power.[2]

Overview

DOS NETWORK - ANOTHER ORACLE SERVICE WITH POTENTIAL

DOS NETWORK - ANOTHER ORACLE SERVICE WITH POTENTIAL

DOS Network is a chain-agnostic layer 2 decentralized oracle network that offers realtime data feeds and verifiable computation power to mainstream blockchains.

It connects on-chain smart contracts and dapps with off-chain data sources and unlimited computation power, enabling smart contracts with more real-world use cases.[2]

On August 3, 2020, DOS Network team announced that DOS would be collaborating with Meter, a leading stablecoin.

As part of the strategic partnership with DOS Network, Meter will integrate DOS Network’s decentralized oracle network to take advantage of the low-cost, secure, and accurate price data it provides.[4]

On August 7, 2020, Decrypt reported that the price of the DOS Network token had jumped by 4,000% in the last year.[1]

On August 11, 2020, DOS Network was listed on Poloniex exchange and Gate.io.

Token

Launch

Had an Initial Exchange Offering in Q1 of 2019[2].

Token allocation

From their White paper (4-2019)[9]

Allocation: Mining Incentive: 35% Ecosystem Building: 19% (For node lock drop, exchange listing fees, network bootstrap incentives, bounty tasks, strategic partnership etc.) Community Token Promotion: 1.5% (50% no lock up, vesting 50% after 3 months) 27 Private Sale: 14.5% (25% no lock up, vesting quarterly over 9 months) Team: 15% (Lock up in first 9 months and vesting monthly in next 24 months) Foundation Reserve: 10% (For marketing, legal, PR, business development, etc.) Advisor: 5% (Lock up in first 9 months)

From their blog (2-2-2020)[10]:

50,000,000 DOS tokens were burnt from a reserved address for network bootstrapping.

It burns 5% of the total supply and it is worth about $156,000 at the moment.

The amount burnt has reduced the total supply to 950,000,000 tokens.

From their blog (17-8-2020)[11]:

"The DOS Network team will be implementing token burning. There will be two regular token burning events.

  1. 100,000 DOS tokens from the foundation reserve will be burnt every 7 days. This is done to control the number DOS tokens in circulation for deflationary purposes

  2. Staking interests incurred by foundational nodes (namely Gaia, Zeus, Hera, Ares, Athena, Apollo, Muses, Hades, Poseidon, Odin, Thor, Loki, and The Oracle of Delphi) will be burnt every 14 days and will not enter circulation. Since our mainnet launch, there have already been two token burnings, where 700,000 DOS tokens were burnt."

Utility

The DOS Token is used for the following operations:

  • Node operators deposit a certain amount of tokens before joining the network to provide oracle services and earn fees and rewards.

  • Malicious node operators will be detected and their stake will be forfeited as punishment.

  • [2]

  • Oracle service requesters need to pay fees to node operators.

  • Fees could be paid both in a pay-per-use pattern and subscription-based way.

  • DOS token is one of the first accepted payment tokens, with stablecoins to be supported in near future.

  • The DOS token grants governance rights giving node operators and token holders the right to vote on future accepted payment tokens and other proposals.

  • [2]

  • In the long term, once premium data feeds and the marketplace is integrated, requesters will also need to pay fees to requested premium data providers.[3]

Strategic Partners

References

[1]
Citation Linkdecrypt.coThese surging tokens are driving the DeFi boom of 2020
Aug 12, 2020, 2:25 PM
[2]
Citation Linkdos.networkDOS Network official website
Aug 12, 2020, 2:27 PM
[3]
Citation Linktwitter.comDOS Network on Twitter
Aug 12, 2020, 2:37 PM
[4]
Citation Linkmedium.comPartnership Announcement Between DOS Network and Meter
Aug 12, 2020, 3:22 PM
[5]
Citation Linkwww.youtube.comDOS NETWORK - ANOTHER ORACLE SERVICE WITH POTENTIAL
Aug 12, 2020, 3:23 PM
[6]
Citation Linkwww.youtube.comIvan Discusses DOS Network (DOS)
Aug 12, 2020, 3:24 PM
[7]
Citation Linkwww.youtube.comDos Network!Low Cap Gem Working On Oracles for all.The Bull Run has Started in Low Caps
Aug 12, 2020, 3:24 PM
[9]
Citation Links3.amazonaws.com
Sep 29, 2020, 3:36 PM
[10]
Citation Linkmedium.com
Sep 29, 2020, 3:36 PM
[11]
Citation Linkmedium.com
Sep 29, 2020, 3:36 PM
[12]
Citation Linkmedium.com
Sep 29, 2020, 3:38 PM