PRESS RELEASE
Tokyo, Japan, July 5th, 2024, Chainwire.
The token for the Data Ownership Protocol (DOP), known as $DOP, is set to begin trading on seven major cryptocurrency exchanges including Bybit, Kucoin, HTX, Bitfinex, Gate.io, MEXC, and WhiteBIT from July 5th, 2024.
On Bybit, to prevent confusion with an existing fiat coin, the token will be listed as $DOP1. On the other platforms—KuCoin, Gate.io, Bitfinex, MEXC, and WhiteBIT—it will be listed as $DOP.
The Data Ownership Protocol recently launched its main net six weeks ago, after a very successful test net phase that saw engagement from 2.67 million users. In the past six months, the DOP ecosystem has experienced significant growth:
– Over 1 million DOP wallets have been opened.
– Assets worth over 10 million USD have been encrypted using the protocol, reflecting the growing demand for user-focused data ownership solutions.
“$DOP represents the Data Ownership Protocol, a project dedicated to balancing transparency and privacy on the blockchain, empowering users with control over their data. The listing of our utility token is a major milestone and furthers our vision for the future of data ownership. We are grateful to our supporters and community who have backed our mission from the start,” said Kohji Hirokado, co-founder of DOP and former core member of Cardano.
Currently, the $DOP token serves two primary roles within the ecosystem: facilitating fee payments and providing community rewards. Utilizing the protocol’s data ownership features incurs fees payable in DOP tokens, thereby creating inherent demand for the token. This system encourages retention of DOP tokens and implements a deflationary mechanism through fee burning. Additionally, it rewards network supporters through staking distributions. To date, 210,000,000 DOP tokens have been allocated for staking rewards, with over 1.1 billion DOP tokens already staked.
This listing announcement comes after Bybit’s rise to become the second-largest cryptocurrency exchange by trading volume, surpassing Coinbase and trailing only Binance. Bybit’s market share has impressively doubled from 8% to 16% since October 2023.
Following a successful first quarter, DOP has released a new roadmap outlining plans for the second half of 2024. The roadmap includes a $5 million developer grant program, expanded protocol capabilities, and plans for deployment on EVM-compatible chains beyond Ethereum to reduce gas fees and reach more users. Furthermore, a new developer SDK will facilitate the integration and creation of dApps within the DOP ecosystem. Other goals include enhancing user security for managing NFTs by expanding functionality beyond ERC-20 tokens to include encryption and decryption of NFTs.
About Data Ownership Protocol (DOP)
The Data Ownership Protocol empowers users to own their data. In the cryptocurrency realm, financial data such as holdings, balances, and transaction history is publicly accessible on the blockchain. DOP technology aims to let users decide what to share and with whom, utilizing selective transparency through zero-knowledge cryptography and other advanced technologies.
For more information, users can visit Data Ownership Protocol’s:
[Official Website](https://dop.org) | [Twitter](https://twitter.com/dop) | [LinkedIn](https://linkedin.com/company/dop)
This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
Contact:
Marketing
DOP
[email protected]
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