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Diment Dollar is a stablecoin maintaining a price of 1 USD, 1:1 backed by the USD value of our diamond reserve.
Diment Dollar is the first stablecoin backed by physical diamonds. On top, our value chain is unique: tokens are not minted based on users' demand, they are minted based on our diamond reserve value which is audited. This guarantees that each minted token is always pre-backed by diamonds whose existence and value are confirmed by a third-party auditor.
Our ecosystem provides us with a key to the opaque and inaccessible diamond market. As we have built a strong network, we can benefit from the information asymmetry and purchase liquid diamonds at a discounted price in a short time window. On top, statistical analysis over years of historical data has proven that diamonds have many qualities making them a good alternative investment. Diamonds can offer protection against inflation and large market downturns. The volatility of polished diamonds has been low in the past making diamonds a stable investment during normal market regimes. Moreover, diamonds offer important diversification benefits as their market performance does not correlate with standard asset classes such as the U.S. Treasury Bonds, Gold, Copper, Platinum, or stocks from the Luxury sector. Finally, diamonds have the largest high-value concentration in the world which considerably reduces the storing costs.
Each diamond is unique; however, diamonds are standardly described by their 4Cs: color, clarity, cut, and carat weight. Each 4C combination has a specific price and liquidity. We invest only in the most liquid diamonds.
The diamonds are stored in the ultra-safe Antwerp diamond district and their value is fully protected by insurance.
Minting only happens when the reserve value increases, and that value has been audited.
Burning events are rare and our risk management reacts in real-time by maintaining the reserve value by purchasing more diamonds or burning tokens from our in-house wallet.
When a user wants to redeem its tokens, Diment simply buys them back to give the corresponding USD value back to the user.
Diment Dollar is a stablecoin maintaining a price of 1 USD, 1:1 backed by the USD value of our diamond reserve.
The diamond industry is virtually a hermetically sealed ecosystem, which only grants access to selected participants. As a result, trading in diamonds is very interesting for many investors, but they have no direct opportunity to invest in diamonds. According to some sources, this market has a potential volume of around USD 500 billion (2022).
Decades of continuous demand for diamonds is related to the fact that diamonds have the highest concentration of value, are considered the most mobile tangible asset and are limited in supply. It is not for nothing that the so-called "King of Gemstones" is the most stable investment and, so to speak, the oldest and most stable currency in the world.
The value of cryptocurrencies can often fluctuate quickly and widely. This volatility makes it difficult for users to use cryptocurrencies in their daily transactions. Backed by the diamond ecosystem, Diment keeps its value more stable. Thus, it protects its users.
Neither affected by inflation, deflation or financial crises - a crisis-proof store of value and a crisis-proof payment method at the same time.
All Diment Dollar tokens are pegged at 1-to-1 with a matching fiat currency (e.g., 1 DD = 1 USD) and are backed 100% by Diment's reserves.
There are a number of reasons why Diment Dollar is a popular choice with many traders and investors. However, always remember that stablecoins are only as stable as the value of the underlying collateral. There is no such thing as a guaranteed peg, so this should be taken into consideration too.
Fully backed by diamonds with guaranteed deposits and %25 over-collateralized by USD. Every collateralizing deposit is held at Emirates NBD Bank.
Transparency: Diment publishes its Diment Dollar monthly reserves report.
Security: Diment Dollar has bankruptcy-remote accounts. Even in the unlikely event that Diment became insolvent, it would not go through standard bankruptcy procedures. Assets held in custody by Diment would be returned to their rightful owners.
Acceptance (which has to be build and increased by time): Multiple blockchains and partners who trust Diment Dollar or actually the company behind.
Beside sophisticated processes and systems, an experienced team of economists, engineers and industry experts will manage Diment's reserve to fulfill the companies obligations and commitments to its users.
The Liquidity Pool is a vital reserve of funds or assets within the DIMENT platform, strategically established to stabilize and bolster the operations and value of DD. The pool's level is meticulously managed by the Reserve Tracking System.
The Diment Dollar Company Wallet is DIMENT's exclusive digital vault, at the core of platform operations. It not only partially functions as a token burning supply during events leading to token burning but also acts as a buffer during periods of heightened token demand, ensuring timely service to users.
All Diment Dollars are pegged to a specific fiat currency (e.g. 1 DD = 1 USD) in an exact 1-to-1 ratio. This enables Diment to provide reliable value to its users by ensuring price stability. This stable peg ensures that the value of Diment Dollars are protected from fluctuation and that users can carry out their daily transactions with confidence.
This stable value of Diment Dollar is secured by matching USD value of physical diamonds, 1 DD = 1 USD of diamond value in the reserve. Each Diment Dollar is backed by a matching amount of physical diamonds.
Diment Dollar supports the USD, EUR, GBP, AED and CHF currencies.
Our account verification process may vary slightly depending on your region of residence.
Customers are required to provide the following personal information when opening an account: Legal name, date of birth, document identification number and address.
The account verification process is usually completed in 1 business day.
Institutional investors are also required to provide identity and residence documents of beneficial owners as well as relevant corporate documents when opening an account. For more information, please visit the Help Centre.
Yes. Diment's platform is built to be transparent at all times. All Diment Dollar tokens are backed 100% by Diment's reserves. View more transparency information.
A new user can start the registration process by filling in their personal information on the registration pages on Diment.
As one of Diment's security measures, the user must activate the Two-Factor Authentication (2FA) feature for the Diment account. In addition, the user must pay a verification fee of USD 100 to activate their Diment account.
The user must then go through the verification process as an individual or organisation and submit all requested documents.
Diment's compliance team will review the user's verification request. This review process involves a detailed assessment of each customer and may take weeks, as it incorporates Diment's robust Know Your Customer (KYC) procedures. The Diment team will notify the user when the account verification process is complete.
Staking is a fundamental concept in the cryptocurrency world where individuals lock up a portion of their crypto assets for a predetermined period of time. This practice serves a dual purpose: It helps maintain and secure a blockchain network, while allowing participants to earn additional cryptocurrency in return. When you stake your crypto assets, you are essentially helping to verify transactions, create new blocks and secure the network. This contribution is vital to the overall health of the blockchain. To participate in staking, you need to lock or "stake" your cryptocurrency tokens. This may require your assets to remain inaccessible for a certain period of time, which can be 30 days, 60 days or longer.
You can use fiat-currency or crypto-currency to obtain Diment Dollar tokens. You can do this by transferring fiat money (USD, EUR, GBP, AED, CHF) from your bank account or depositing cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) into your wallet on the website. You will then have the opportunity to buy Diment Dollar tokens, transfer them or stake them.
Diment tokens provide a solution for various organizations in the digital currency ecosystem, enabling them to easily use traditional fiat currencies on blockchain technology. Diment tokens enable businesses, including exchanges, wallets, payment processors, financial services and ATMs, to easily use fiat currencies on blockchains. It helps them diversify the ways they can easily exchange and convert fiat currencies. Diment tokens offer payment processors an easy way for fiat currencies to be traded on the blockchain. These use cases simplify the process of accepting payments with digital currency. Some of the largest businesses in the digital currency ecosystem have integrated Diment token.
One of the main pillars of Diment's approach is that all its tokens are pegged to their corresponding fiat currencies at a 1-to-1 ratio. For example, 1 USD is equal to 1 Diment Dollar. What sets Diment apart is its unwavering commitment to providing full support for its tokens with 100% reserves held by the company. This means that for every Diment token in circulation, Diment has an equivalent amount in its reserves, ensuring the stability and security of the entire token ecosystem.
The company regularly publishes a daily log detailing its bank balances and the current value of its reserves. This practice promotes trust and confidence by providing users and stakeholders with real-time information about the financial health of the Diment ecosystem.
Furthermore, Diment tokens offer the advantage of secure storage, transmission and receipt on the blockchain. Users can transact with peace of mind knowing that they are operating in a robust and secure digital environment. Importantly, Diment tokens can be redeemed for cash, the underlying pegged asset, in accordance with the terms of service set by Diment Company. This feature ensures that users have a clear path to convert their digital assets into fiat currency when needed, further increasing the utility and versatility of Diment tokens in the broader financial landscape.
If you would like to change your e-mail address, please visit https://app.diment.io/auth/reset-verification and fill the form with the required informations.
If you would like to update your phone number, please contact our Customer Service Team at [email protected]. Our team will assist you with this.
Your Diment Dollar account has set limits on the amount of Diment Dollar you can print or redeem on a weekly basis. Your limits depend on your account type and the level of information you provide.
Once approved, the weekly limits are as follows:
Tokenization: 1.000.000 $
Redemption: $500,000
If you wish to increase your account limit, please contact the Diment Dollar Customer Service Team at [email protected]. Depending on your account type and the level of information you have provided, you may request to increase the limits set.
You can visit https://www.diment.io/fees our fees page to get information.
Diment and our cooperating banks do not charge any fees for tokenization transactions to your Diment Dollar Account associated with the tokenization of US Dollars, if the transfer is made in US Dollars. However, if you choose to remit in a different currency, Diment's cooperating banks may charge a currency conversion fee, in which case your tokenisation will be carried out according to the then-current currency conversion rate.
You may also incur additional fees from your own bank. For these reasons, it is important to always make your wire transfer in US Dollars to know exactly how much Diment Dollar you will receive for a particular tokenization transaction.
If your bank transfer is rejected and needs to be returned, Diment does not charge any fees. The possibility of your bank transfer being rejected can occur for reasons such as missing or misspelled reference numbers or trying to exceed the set deposit limit.
Diment and the banks we cooperate with do not charge any fees for redeeming Diment Dollar for US Dollars and transferring funds to your bank account. However, you may incur fees from your own bank when receiving funds. To redeem via bank transfer, you need to make a minimum transaction of $1000.
The Fiat withdrawal fee is 0.15%. However, you may be charged a transfer fee by your bank. Please contact your bank for more details. If the amount you transfer is less than the fee charged by your bank, your account may not be credited. You can visit https://www.diment.io/fees our fees page to get information.
Currently, the minimum withdrawal amount is set at USD 1,000.
You can make your withdrawals from Monday to Friday, excluding holidays observed by the Federal Reserve System.
Please contact our Customer Service Team at [email protected] for more information.
Bank transfers initiated due to a withdrawal are subject to standard bank transfer processing time, which can take 1-3 business days. If this time has passed and you still do not see the funds in your account, please contact our Customer Service Team at [email protected].
Our bank accounts only accept or initiate transfers in US Dollars. Therefore, we don't apply any exchange rate or foreign exchange fees. Your transfer will be processed at the exchange rate your bank uses and you may have to pay additional foreign exchange transaction fees. Please contact your bank for more information.
Please read the instructions for information on requesting an account limit increase. For more information, please contact our Customer Service Team at [email protected].
Two-Factor Authentication (2FA) adds a second layer of security beyond just using your email address and password to log into your account. This is usually a verification code that is generated by an application on your mobile phone.
Verification; The verification charge is 100 Diment Dollars (DD) and designed to guarantee that only individuals genuinely interested in creating an account submit their applications. In accordance with relevant regulations, Diment retains the exclusive authority to either accept or reject account applications.
You can visit https://www.diment.io/fees our fees page to get detailed information.
The transaction fees you pay on Diment Dollar are fixed. They are not related to the amount of the transaction.
For withdrawals in Diment Dollar, the network fee is charged in Diment Dollar. Likewise, for withdrawals in USD, payment is received in USD.
No, we do not charge the user for performing this transaction.
Only the transfer fee on the network is charged for the withdrawal of Diment Dollars. This is the fee paid to the relevant network.
The minimum amount for a deposit is 1,000 USD or equivalent value of cryptocurrency.
The minimum amount for a withdrawal transaction is 1,000 USD or 1,000 DD.
There are no additional charges during the transaction.
For Diment Dollar withdrawals, the transfer fee may vary depending on the network density.
The Diment Dollar is an outstanding digital product that redefines the concept of “value-security” in the financial world by reinventing the present Stablecoin model.
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