The Commonwealth of Dominica is launching the first national token, DMC (Dominica Coin), in partnership with cryptocurrency exchange Huobi Global, Tron Network, and DMC Labs. The partners will also unveil Dominica DIDs (Decentralized identifiers) for KYC use on the trading platform and the metaverse KYC processes.
”In our latest efforts to advance the global development of Web 3.0 and metaverse, Huobi has partnered with Tron Network and DMC Labs to jointly launch the world’s first national token, DMC (Dominica Coin) under the authorization of the government of the Commonwealth of Dominica,” Huobi announced in a press release. ”Our vision for DMC and Dominica DID is for them to serve as an important certificate for users to access the future metaverse world,” it added.
According to the announcement, DMC and Dominica DID will initially be issued on Tron Network and later deployed on Ethereum, BNB Chain, and other blockchains through the BitTorrent Chain protocol. The national cryptocurrency will reportedly debut on Huobi Prime – the exchange’s platform for offering pre-listed digital assets.
DMC To Power Metaverse Dominica Digital
Once a user has passed through the verification process on Huobi, they will obtain Dominica DIDs, which can be transferred to the Tron Network for Soul-Bound Tokens (SBTs). SBT gives the holder special privileges, including – citizenship in the Metaverse Dominica digital – a virtual platform with a 1:1 representation of the real world.
Other benefits include a passport backed by the government of the Commonwealth of Dominica – offering access to more than 130 countries. DMC holders also qualify for ”airdrops in TRX, BTT, SUN, JST, and DMC,” the press release noted.
Tron blockchain – which has agreed to deploy a national fan token that promotes the culture and tourism in Dominica – is the designated national blockchain infrastructure for the Caribbean Island nation.
