Earn passive income… while DRIVING

3 min readFeb 3, 2022

Yes, your read that right! With DIMO you can start earning passive income while driving in the near future! You can earn while driving to work, to your friends, or just for a short drive to the next supermarket. You may ask yourself, how is this possible. Well, I will explain how in this article!

DIMO is building a user-owned IoT (Internet of Things) platform that allows drivers to collect and share their vehicle data. Drivers get insights about their vehicle, contribute data to the open ecosystem where it can be used to build new technology and applications, and earn DIMO tokens for participating.
So we can say DIMO is pretty similar to other IoT hardware devices like Helium or PlanetWatch.

For people who aren’t familiar with IoT tech, they basically sell the data collected from your hardware devices, but you actually get rewarded for your information! The big difference DIMO has to other IoT platforms like Helium and PlanetWatch is, that you would be extremely early to this, because the token for DIMO hasn’t even launched yet!

https://docs.dimo.zone/dimo-overview/overview/what-is-dimo

How you can earn money using DIMO

There will be three ways to earn $DIMO in the future.

You connect DIMO to a car and simply earn $DIMO while driving.
Although the current device is sold out and sells for around 3x the price on the secondary market, you can still collect data without the device, but you will earn significantly less than with the actual hardware device.
If you manage to refer a user to sign up, using your referral link, you will get 100 $DIMO. However, in order to earn the full bonus, the users you refer will have to prove that they’re legitimate users of the platform by connecting their car, streaming data, and earning tokens.
Software developers, hardware engineers, vehicle decoders, designers, and others will also be able to earn $DIMO as they contribute. A separate pool for contributor bounties and grants has been allocated in the issuance plan .

Join their discord to get involved!

Let’s talk about the Token itself for a second

$DIMO is an ERC-20 token on the Ethereum blockchain (sadly) with a 1,000,000,000 token supply. Hopefully they will release some sort of bridge in the future, so we don’t have to pay these absurd gas fees. The token will have a few utilities, such as Payments & Rewards, Governance, and Staking.

How rewards will be distributed

Rewards will be based on a combination of baseline and market demand for vehicle data and connectivity.

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Baseline Demand Signal refers to a concept of rewarding drivers based on how many miles they drive, what type of car they drive, and what types of data they provide, even when there is no end customer using your data.
Here is a tabular on how the rewards will be distributed:
NOTE: POINTS DO NOT EQUAL $DIMO HERE

Market Demand Signal refers to rewarding drivers based on what third parties are paying for their data. E.g., if Acme Corp subscribes to Alice’s data for $10/month, Alice receives $10/month less protocol fees.