Blockchain-based domain name marketplace Dynatiq is scheduled to launch its token event on April 25th, with up to a 50% bonus for participants. The Dubai-based project is aiming to become the backbone of the domain industry, a market which has the potential to become substantially larger in the near future.

Token Details

10,000,000 of the 11,000,000 tokens will be for sale and is an ERC20 compatible token. The ICO will last for a little over a month, ending on the 9th of June. The base rate is 1 ETH = 2000 DTQ but there is a 50% bonus until May 9. A 25% bonus from May 10 – 17, and a 10% bonus from May 18 – May 25.

The tokens can be traded on cryptocurrency exchanges, and are designed to increase in value as more users become connected and more domains are created. The Dynatiq platform also has a staking process that enables its users to acquire additional tokens. The staking process offers a percentage of the total generated funds, into a pool,  which will later be provided to merchants to offer reward to users.

Quickly Growing Internet Space

With currently more than 3.8 billion global internet users the number of people connected is seeing a sharp rise, up from 3.42 billion just two years ago. Research points to digital marketing generating 44% of the expenditure of marketers in 2018, or around $237 billion globally with 12% coming from search advertisements alone.

Domain registrations have also been on the rise with 1.3 million new domain names registered in the first quarter of 2017 alone. The total  .net and .com domain registration count reached 143.6 million by the end of 2017. This figure has increased by a rate of around 6.7% per year, with over 330 million domain names registered to date.

Dynatiq Marketplace Safe Environment

The dynatiq platform will foster a safe environment for both buyers and sellers to interact together, with an express intention of protecting users data. The company has already stated that it will never store user data in a centralized marketplace, securing data with blockchain technology.

As all transactions will be done on this blockchain marketplace using escrow, buyers or sellers will be equally protected regardless if it’s a website or domain being sold. This prevents disputes from occurring in the first place and rapidly assisting in the settlement of those that still do occur thanks to the transparency of transactions on the blockchain.

An aggregate star rating will be implemented allowing buyers to see which sellers have been reputable in the past and provide sellers with an indication of buyers that have proved to be troublesome in previous transactions.

Dynatiq has begun Android and iOS app development in Q1 of 2018, will look to recruit additional developers for the Platform API for merchants in Q2, strengthen partnerships and produce a technical whitepaper in Q3, and finally launch a beta version of the marketplace in Q4 of 2018.

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