Dojima Network is an omnichain layer where users from all different ecosystems come together to build cross-chain dapps and transfer data. Dojima Network seeks to remove the barriers between various blockchain networks by creating an interoperable cross-chain infrastructure. It is a significant step toward creating a decentralized ecosystem not limited by individual blockchain networks. The goal is for users to transact with each other seamlessly and efficiently.
As Web3 has come into the limelight, many blockchains have been built. But these different blockchain projects have an inherent problem of interoperability- needing to be able to communicate with each other. The future is a network of blockchains where anyone can pass data between chains, and Dojima is building that ecosystem. Their vision is to be the number one omnichannel layer for Web3, bring participants from all the networks to common ground, and make Dojima a cross-chain hub.
Akhil Reddy and Bhagath Reddy founded the platform in 2021 and have grown tremendously with the help of a capable team. Their team comprises professionals that come from enriching backgrounds in tech.
Over time, there has been a surge in Layer 2 (L2) solutions and bridges. Many projects have been built on these protocols because of their attractive features. Billions of dollars have been locked in these protocols. This shows how big the market is and the need for a platform that brings all of them under one roof. According to Grand View Research, the Blockchain market is expected to grow at a compound annual growth rate (CAGR) of 87.7% from 2023 to 2030.
The cross-chain market is hot and has established players like Thorchain, Layer Zero, and Axelar Network, valued at around a billion dollars, which could challenge Dojima Network.
Dojima Network offers the following services on its platform :
- Omnichain Layer 1 – It is where developers can build their cross-chain Dapps or integrate their Dapp from different networks. Users can also view their cross-chain transactions.
- Functionality as a service – Developers are quickly provided with cross-chain functionality that comes with API. They don’t store any information, making the whole process trustless. In addition to this, they also have a cross-chain developer dashboard to make the development and deployment of cross-chain apps easier.
- Cross Chain Wallet- The Dojima wallet lets users access smart contracts from other native blockchains, making the transfer of data and tokens exchange between them more accessible.
The competitive edge of Dojima is that it offers users a complete package of services and ease of use. Other competitors lack features like simplicity, dapp deployment, etc., making Dojima an ideal platform for users.
The roadmap ahead for Dojima is to integrate more dapps, partners, and protocols into its network. It will work towards its rapid expansion and has planned to launch a stagenet and mainnet by the end of 2023. It will also introduce its native token, DOJ.
One of the ways that the Dojima Network generates revenue is through transaction fees charged to its platform users. As users engage in cross-chain transactions and utilize the various services the Dojima Network offers, they are charged a fee for using the platform. Additionally, Dojima also makes money from protocol deployment on its chain.
The marketing strategy of Dojima is to launch engaging campaigns, partner with influencers, and offer rewards for its community users.
The DOJ token powers the Dojima network. It will be used for all the transactions and fees on the network. Also, to run a node and validate transactions on the network, participants must stake the DOJ token.
The maximum supply of Dojima tokens is 10 Billion.
Dojima is looking for funding of $4M at a valuation of $40M.
The funding money will be used for the financing of the following:
- Ecosystem Growth – Onboarding developers and users, expanding the network, and forming partnerships.
- Product Development – Hire full-stack developers, blockchain developers, and UI/UX designers. Build internal security and testing team.
- Operations – Product subscription, Google Workspace, and UI/UX design development tools.
- Infrastructure Cost – Testnet and Mainnet AWS cost, Backend server costs, and team management tools.
- Marketing – Launch marketing campaigns, hackathons, partnering with influencers, and rewards for community users.
The cross-chain market has established players whose valuation is more than a billion dollars and has been significantly active in the market for a while. Apart from that, the blockchain industry is unregulated, and the introduction of new laws poses a problem.
Dojima Network is taking on the biggest problem of the blockchain world- interoperability. The network’s various features and simplicity make it a substantial project in the cross-chain domain. Their token distribution strategy is well suited for the community, fitting in perfectly in the decentralization landscape. Dojima Network wants to be the hub for Web3. Their work in the past few years and a clear roadmap certainly puts them on track.