FAQ

About tokens

The DEV token is a unique currency specialized for use with the Dev Protocol.
By using DEV tokens to support OSS projects, you can support the sustainable financing of OSS projects.

Dev tokens can be used to support OSS projects and take part in the ecosystem. By depositing DEV tokens in our Stakes.social Dapp using a method called staking, you can support a creator of your choice while also earning rewards yourself. In addition, DEV token holders can participate in governance where the Dev Protocol policy is decided by the community.

The DEV token and Dev Protocol have undergone a security audit by Quantstamp. No accidents have occurred since the launch in January 2020

The DEV Token launched in beta during July 2018, at which point we reached out to OSS developers and corporate sponsor to participate. We ultimately completed a scheme to monetize the number of OSS downloads in February 2019. We've made a lot of improvements since our launch in January 2020, with each improvement being open source and archived on GitHub. Anyone wishing to take part in the development only needs to make suggestions on GitHub. In addition, FRAME00 Co., Ltd. (Tokyo, Japan), the development team of Dev Protocol, has been adopted by Microsoft for Startups.

DEV token users can be divided into two types: creators and sponsors.
Currently, more than 1600 OSS projects are participating as creators, and they are used by various communities such as Sindre Sorhus, Vyper, Commons Stack, and Vui-i18n. You can see it all on a platform called Stakes.social.

Dev has pairs at many of the DEX (Decentralized Exchanges), like Uniswap and Sushiswap, where anyone looking to trade their dev can turn it into ETH, USD, etc. From here you are able to trade at a centralized exchange and withdraw the currency of your choice to your bank account.

You can buy or sell DEV tokens on various DEXs (Decentralized Exchange) like Uniswap.

Staking is a mechanism that contributes to the network and earns rewards by temporarily locking crypto assets. In Dev, staking a "DEV token" (ERC20) on an OSS project will monetize the OSS and reward the staking user as well as the project creator.

In the Dev Protocol, a small amount of DEV is newly issued for each block according to the calculation formula, and the newly issued amount is allocated to the reward pool paid out to stakers and project owners. Please refer to the following documents for details such as calculation formulas.
Reference article: https://github.com/dev-protocol/protocol/blob/master/docs/POLICY.md

Like a corporation, prices are determined by supply and demand. The value of the DEV token is increasing because demand (the amount used for staking) outweighs supply. Furthermore, the more creators who utilize the Dev Protocol, the higher the network value of the Dev Protocol.

The Dev Protocol uses blockchain technology to provide Sustainability for both creators and supporters. It is a protocol designed to solve the problem of monetizing open assets, which is not feasible with legal tender such as the dollar. If you would like to convert to dollars, please refer to the steps below.

About Dev Protocol

The Dev Protocol is a way for creators who run projects such as OSS and Open Access to earn income opportunities and achieve sustainability.
The Dev Protocol aims to create a world where innovators can take on challenges and solve problems that might not be financially viable, but offer value. Creators who create technically socially valuable project that might not be economically viable are now able to find an alternative way for funding. Reference article: https://initto.devprotocol.xyz/posts/what-is-a-protocol/

The purpose of supporting creators is the same as donating, but with staking, you can benefit while supporting as opposed to just donating a one time payment. The Dev Protocol is different from previous donations in that it uses blockchain technology with incentives for both creators and supporters by building a mechanism for continuous donations.

We keep a 5% Treasury fee when tokenizing OSS. The Dev Protocol Treasury is a community-managed fund used for the ecosystem. In addition the Ethereum network charges a fee (gas fee) when executing smart contracts. The Dev Protocol is a decentralized protocol built on Ethereum, so this fee is always charged.

Gas charges are constantly changing, so please check the following sites etc.
ETH GAS STATION: https://ethgasstation.info/

In order for Ethereum to function, when you use smart contracts or send money, you have to record the information on the blockchain. You also need to verify that the record is correct. A fee is required as compensation for the person (miner) who does these tasks.

DEV tokens are still in their infancy, and having many people use them will contribute to the network. On top of that, we believe that distribution to GitHub users, who have contributed to the OSS ecosystem so far, is the most valuable way to distribute them. The security of the Dev Protocol is improved by increasing the diversity of people who can participate in governance.

The Dev Protocol team has also contributed to OSS development for over 10 years and is a gathering of members who have participated in the OSS community within Japan. Check out the team introductions on the Dev Protocol website.
Dev Protocol website: https://devprotocol.xyz/#team

The Dev Protocol team is not making money. Until now, it has been operated by raising funds from the company. In the future, we plan to raise funds by a method called "token sale" in which we sell our DEV tokens to investors.

About Stakes.Social

Stakes.social is a new sponsoring platform powered by the Dev Protocol. Both developers and sponsors can benefit from staking projects they want to support with the DEV token. With over 1600 OSS issuing tokens, many developers from around the world, both corporate and individual, have successfully raised funds. The participation of various creators is increasing, and we can support various creators such as OSS developers, VR artists, NFT markets, green projects, and VTubers in the future.

To register an asset in Stakes.social, please link to create from the menu and go to "Submit an application" or access the following URL
https://stakes.social/invite/github
The application will be completed if you fill out the form and submit it.

Because the Dev Protocol supports sustainable activities, applications may not pass for those that are not planned to be developed in the future. We seek to offer funding to projects that are looking to build long term.

Even if the project is under development, the application may not pass if it is judged that there is no future development.

Currently, there is only Market through Github, so you can not apply for projects without a Github Repository.

The size of the project does not matter, as long as the project itself is in active development and funding is needed for full time development.

About blockchain

A blockchain is a method of synchronously recording data such as transaction information by combining cryptographic technology with multiple computers that make up a distributed network.

We adopted crypto assets to implement a staking mechanism that was not possible with fiat currencies. We also found crypto assets without censorship or centralized control to be the best fit for the open nature of OSS. We aim to make sustainable OSS development freely available to everyone in the world.

It refers to a newly created cryptocurrency on an existing blockchain. In this case our tokens are under the Erc-20 standard on the Ethereum blockchain. By creating a token on an existing blockchain, we can take advantage of their security while focusing on our goal.

A wallet is a service or program that stores cryptocurrency. A wallet is required to store the DEV, token and the Dev Protocol does not provide a wallet, so it must be registered in advance. DEV is built on Ethereum so there are many options, the most popular being metamask.

Ethereum is a cryptographic blockchain developed by Vitalik Buterin in 2013. Ethereum has a standard for token development called ERC20 and DEV tokens are ERC20 compliant tokens.

web3.0 refers to an iteration of the web that includes a decentralized network (Decentralized Web) realized by blockchain technology. In addition, web1.0 and web2.0 are also defined as various points in the history of the web.

You can set the gas fee yourself through most wallet providers. However, if you set it too cheap, it may not be processed for a very long time, if ever. In most cases, your wallet will set it automatically, but this could overestimate the gas fee, causing you to pay more. It is always better to check current gas prices and set them accordingly.