Dether: Decentralized Peer-to-Peer Crypto Cash Trading Network

What is Dether

Friends, imagine this scenario: you urgently need to exchange your digital currency (such as Ethereum, commonly known as ETH) for cash, or you want to buy some digital currency with cash, but you don’t want to go through those complicated online exchanges, nor wait several days for the transaction to complete. The Dether project, abbreviated as DTH, is like a tailor-made network of “mobile ATMs” for you. It’s not a real machine, but a mobile app that lets you find people nearby on a map who are willing to trade cash for digital currency directly with you, or physical stores that accept digital currency payments.

You can think of Dether as a “crypto version of ride-hailing”: if you want to buy or sell digital currency, open the app and you’ll see which “drivers” (i.e., buyers or sellers of digital currency) are online nearby, what prices they offer, and you can choose a suitable one, agree on a meeting place, exchange cash and crypto hand-to-hand—the whole process is peer-to-peer (P2P), with no bank or large institution as a middleman.

Peer-to-peer (P2P): Just like you and a friend directly exchanging items, with no intermediary involved—the transaction happens directly between the two parties.

Project Vision and Value Proposition

Dether’s vision is ambitious: it wants to make Ethereum and other digital currencies easily accessible, so more people can use them effortlessly. Its core value lies in solving the so-called “last mile” problem: for many people, converting digital currency into usable cash in daily life, or buying digital currency with cash, is a long and complicated process. Especially for those without bank accounts (over 2 billion people globally), buying digital currency is almost impossible.

Dether aims to change this situation through the following:

• Lowering the barrier: Anyone with a smartphone and internet access can participate in buying and selling digital currency—no bank account required.
• Decentralization: Transactions happen directly between users, with no centralized institution controlling your funds, and no company taking a cut from the transaction. It’s like distributing some banking functions to everyone’s phone.
• Increasing liquidity: Making it easier to exchange digital currency for cash, thereby boosting the real-world usage of digital currency.

Simply put, Dether wants to make digital currency as convenient as cash—buy, sell, and use it anytime, anywhere, especially in regions with underdeveloped financial services, providing people with a new kind of financial freedom.

Technical Features

The Dether project is built on the Ethereum blockchain. This means it leverages Ethereum’s smart contract technology to ensure security and transparency in transactions.

• Ethereum blockchain: Like a huge, publicly transparent ledger, all transaction records are permanently stored on it and cannot be tampered with.
• Smart contracts: Think of these as “self-executing contracts.” The transaction conditions you and your counterparty set (such as how much ETH for how much cash), once met, are automatically executed by the smart contract, ensuring both parties receive their assets without needing a third party to oversee.
• Mobile app and map: Dether’s core is a mobile app with a built-in map feature that shows buyers, sellers, or stores accepting digital currency near you. It’s like the “Google Maps” of the crypto world.
• Decentralized reputation system: To build trust, Dether has designed a reputation system. Users earn reputation points after completing transactions, helping others judge the reliability of their counterparties.

Tokenomics

The Dether project has its own digital token called DTH.

• Token symbol: DTH
• Issuing chain: DTH is an ERC20 standard token based on the Ethereum blockchain.
• Token utility: The main function of the DTH token is to give users “visibility” on Dether’s map. If you want to become a digital currency seller (“Teller”) or your store wants to accept crypto payments, you need to stake a certain amount of DTH tokens. The more DTH you stake, the higher your exposure on the map, making it easier for other users to find and trade with you. It’s like renting a storefront on a commercial street—the rent is paid in DTH tokens, and the higher the rent, the more prominent your location.
• Total supply and circulation: There is some inconsistency in information about the total and circulating supply of DTH tokens. Some sources show a circulating supply of 100 million DTH, while some market data platforms show both total and circulating supply as zero. This may indicate low project activity or outdated information.

ERC20 token: A technical standard on the Ethereum blockchain that defines basic token functions such as transfer and balance inquiry, allowing different tokens to be compatible with each other.

Staking: Locking a certain amount of digital currency to support the blockchain network or gain certain rights, similar to a bank’s fixed deposit, but usually with higher risk and potential returns.

Team, Governance, and Funding

Based on currently available information, there is no very detailed public description of Dether’s core team members, specific governance mechanisms, or detailed funding operations.

However, we know that Dether raised about $13.44 million in early rounds of financing. This funding was mainly used for project development and promotion. As for governance, given its decentralized vision, it typically leans toward a community-driven model, but specific details have not been clearly disclosed.

Roadmap

Dether announced and executed a series of important development plans and milestones between 2017 and 2018:

• October 2017: Released the Alpha test version of the Dether app and launched on the Kovan testnet.
• March 2018: Launched the “Dether for Shops” feature, allowing physical stores to register on the map and accept crypto payments.
• August 2018: Released the progressive web app (PWA) version of Dether on the Ethereum mainnet as a Beta version, initially available in 120 countries.
• October 2018: Released the Dether desktop web app.
• November 2018: Released the Dether Android app.
• Other completed features: Integrated stablecoin and ERC20 token trading, optimized the app, added light wallet, transaction history, QR code scanning, etc.
• Future plans (2018): Planned to implement automated token listing, promote affiliate programs, decentralized arbitration system, and regional division features.

Note that this roadmap information is mainly concentrated in 2018 and earlier, and there is a lack of official updates or major progress on the project’s recent (2019 to present) roadmap.

Common Risk Reminders

Any blockchain project comes with risks, and Dether is no exception. When learning about this project, you should pay attention to the following:

• Market activity risk: According to the latest market data, DTH token trading volume and market cap are very low, with some data platforms showing circulating supply as zero. This may mean the project is currently not very active, liquidity is poor, and buying or selling DTH tokens may be difficult.
• Technical and security risk: Although the project uses smart contracts to secure transactions, any software may have vulnerabilities. In addition, P2P cash transactions themselves carry certain safety risks, such as personal safety and counterfeit cash.
• Compliance and operational risk: P2P cash and crypto transactions face different regulatory policies in different countries and regions, and compliance is an ongoing challenge. If the project cannot adapt to changing regulations, its operations may be affected.
• Project stagnation risk: Existing information shows that Dether’s main development and roadmap updates were concentrated in 2017-2018. If the team has not continued development and maintenance, its technology and features may gradually fall behind market needs.
• Information confusion risk: Search results show a “DETHER” project on the Solana blockchain, which may be confused with the original Ethereum-based Dether (DTH) project. Be sure to carefully distinguish and ensure you are researching the same project.

Remember, the above information does not constitute investment advice. The digital currency market is highly volatile and investing carries risks—please be cautious.

Verification Checklist

If you are interested in the Dether project, it is recommended that you conduct deeper verification and research yourself:

• Official website: Visit Dether’s official website (dether.io) to check for the latest project updates, whitepaper, or team information.
• Block explorer contract address: Search for the DTH token contract address on an Ethereum block explorer (such as Etherscan) to view its actual circulating supply, number of holders, and transaction activity.
• GitHub activity: Visit Dether’s GitHub repository to check the frequency of code updates and community contributions, which reflects the project’s development activity.
• Community forums/social media: Search for Dether’s official communities on Telegram, Reddit, Twitter, etc., to gauge the level of discussion and whether the team is still actively engaging with the community.

Project Summary

The Dether project (DTH) proposed an innovative solution in its early days, aiming to use a decentralized P2P network to make Ethereum digital currency more easily exchanged for cash and support physical stores in accepting crypto payments. Through its mobile app, smart contracts, and map features, it sought to solve the “last mile” problem of digital currency adoption and provide financial services to the global unbanked population.

However, based on currently available information, Dether’s main period of activity was concentrated in 2017-2018, with its roadmap and development updates mostly ending there. The current market activity of the DTH token is low, and there is potential confusion with a similarly named project on Solana.

Overall, Dether is a project with a forward-looking vision, but in the current market environment, its ongoing development and real-world application need further verification. For anyone interested in this project, it is strongly recommended to conduct comprehensive research and risk assessment yourself, and note that this is not investment advice. For more details, please research independently.