- Crypto exchange Huobi has issued the first national token Dominica Coin (DMC).
- The launch is in partnership with Tron Network and the government of the Commonwealth of Dominica.
- Presently, Huobi will airdrop DMC tokens to registered users.
Cryptocurrency exchange Huobi has announced news of issuing the world’s first-ever national token DMC, Dominica Coin (DMC), in partnership with Tron Network, under the authorization of the government of the Commonwealth of Dominica.
The announcement also mentioned that involved parties will also launch another first to a nation, Dominica DID. Both tokens were initially rolled out on the Tron Network, however, they will support cross-chain interaction with Ethereum, BSC, and other public chains through the BitTorrent Chain protocol.
The publication shared that the Commonwealth of Dominica has assigned the Tron Network as its designated national blockchain infrastructure. In collaboration with third-party technology providers including Tron, BitTorrent, and DMC Labs, Huobi anticipates DMC and Dominica DID to serve as an important certificate for users to access the future Metaverse world.
The statement further highlighted more information about DMC and Dominica DID, including the fact that DMC is issued on the TRC 20 standard, with the intention to expand to the ERC 20 and BEP 20 standards.
In addition, DMC will be eventually issued on Huobi Prime. At the moment, Huobi has decided to airdrop DMC tokens and enable Dominica DID application to each registered user. The launch also requires users to complete tier identity verification on the Huobi platform via their Dominica DIDs.
The document also stated:
A Dominica DID-verified account enjoys the same rights and interests as an account verified via any other nationality on the premise of compliance with laws and regulations.
Moreover, users have the privilege to transfer their Dominica DIDs to the Tron Network to generate Soul-Bound Tokens (SBTs) enabling holders the same rights and interests granted by SBT, alongside, the right to Metaverse Dominica digital citizenship.
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