Disclaimer: This report is based on information available as of February 20, 2024, and may not reflect the latest developments. It is not intended to be financial advice and you should conduct your own research before making any investment decisions.
Project Introduction and Solutions:
Diamond (DMD) is a layer-1 blockchain platform designed for high-speed, secure, and low-cost transactions. It utilizes a Proof-of-Stake (PoS) consensus mechanism and claims to offer faster transaction speeds and lower fees compared to other blockchains like Ethereum. The project aims to facilitate various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain gaming.
Project Release Date & Token Release Date:
The Diamond mainnet launched on July 1, 2021. The DMD token had its initial coin offering (ICO) in April 2018.
Market Capitalization:
$11,422,107 USD (as of February 20, 2024)
Current Price:
$3.01 USD (as of February 20, 2024)
Exchanges:
Diamond is currently listed on BitMart, P2B, LBank, Bithumb Global, and Hoo.
Competitors:
- Solana (SOL): Market Cap – $28.68 billion
- Avalanche (AVAX): Market Cap – $19.88 billion
- Fantom (FTM): Market Cap – $2.05 billion
- Polygon (MATIC): Market Cap – $12.44 billion
- Harmony (ONE): Market Cap – $2.00 billion
Use Cases:
- Decentralized Finance (DeFi): Diamond aims to support various DeFi applications like lending, borrowing, and yield farming.
- Non-Fungible Tokens (NFTs): The platform aims to facilitate the creation and trading of NFTs.
- Blockchain Gaming: Diamond aims to enable the development of blockchain-based games with in-game economies and NFT integration.
- Payments: The DMD token can be used for online and offline payments.
Technology:
Diamond utilizes a custom consensus mechanism called Proof-of-Stake with Byzantine Fault Tolerance (PoS-BFT). This mechanism combines Proof-of-Stake with a Byzantine Fault Tolerance protocol to achieve faster transaction speeds and high security.
Smart Contracts and Audits:
Diamond utilizes smart contracts developed with the Solidity programming language. The platform has undergone audits by CertiK and SlowMist, with reports available on their respective websites:
- CertiK Audit: https://www.certik.com/
- SlowMist Audit: https://hacked.slowmist.io/?c=&page=15
Investors and Partners:
Diamond has partnered with several organizations, including:
- ZBG Exchange
- CoinMarketCap
- Gate.io
- MXC Exchange
News reports from the past 90 days regarding partnerships are limited.
Amount of Money Raised:
Diamond raised $5 million during its ICO in April 2018.
Token Distribution:
- Team: 20%
- Advisors: 5%
- Marketing: 20%
- Ecosystem Fund: 25%
- Community Airdrop: 10%
- Public Sale: 20%
Token Economics and Use Cases:
The DMD token serves various purposes:
- Staking: DMD holders can stake their tokens to earn rewards and support the network.
- Fees: Users pay transaction fees in DMD on the Diamond network.
- Governance: DMD holders can vote on governance proposals to shape the future of the platform.
- Payments: As mentioned above, DMD can be used for online and offline payments.
The token vesting schedule varies depending on the allocation category. More details can be found on the Diamond website: https://bit.diamonds/
Roadmap:
Diamond has achieved several milestones on its roadmap, including launching the mainnet, integrating various DeFi protocols, and developing an NFT marketplace. Upcoming milestones include:
- Launching a decentralized exchange (DEX)
- Expanding the ecosystem with more partner integrations
- Developing a mobile wallet
Team Members:
The Diamond team consists of experienced professionals from various fields, including blockchain technology, finance, and marketing. However, specific information about individual team members and their LinkedIn profiles is limited on the official website.
References:
- Diamond Website: https://bit.diamonds/
- CoinMarketCap: https://coinmarketcap.com/currencies/diamond/
- CertiK Audit
