Why a token?
Why do the apps require a token for tackling the issues with fragmented communities?
Our economies are not built with the internet in mind. They are, therefore, inefficient in providing solutions that empower fragmented communities based on their social or financial needs. Our economic system is not designed to offer incentives to tackle many challenges people face today. Even with the FinTech revolution that aims to solve the current issues of the traditional financial system, billions of people are still underserved.
We have identified key areas where DUA can incentivize people for their community contributions and introduce them to digital identity and financial services.
In the lack of efficient incentives with real monetary value, we will implement DUA as an on-chain reward instrument serving millions of people that aspire to be part of their communities by accomplishing their needs while adding value to the ecosystem.
A virtual “nation-state” requires a currency to power its economic infrastructure. DUA has three key roles within the ecosystem. It acts as a value exchange unit, access gateway, and payment method in the dua ecosystem.
- DUA powers the transactional economy of in-app users and enables them to earn it by performing value-adding activities. After earning it, users can pay for in-app purchases.
- DUA powers the value-creating process of DeFi protocols such as Yield, Lending, and Borrowing.
- DUA also acts as a gate for running and using dua ID as a service.