Introducing Staking & Car Levels: Earn More Rewards with $DIMO
DIMO is rolling out Car Levels & Staking — a game-changing update that lets you earn more rewards each week just by leveling up your vehicle.
What’s New?
We’re introducing Car Levels to make rewards more straightforward. TL;DR: Each connected vehicle has a level based on its connected data sources and boosts. Maximize your car’s level to increase your weekly $DIMO rewards.
Staking is the newest way to boost your car’s level and maximize your earnings. You’ll soon be able to stake $DIMO tokens for a set period and unlock extra Car Levels to increase your weekly rewards.
Both Car Levels and Staking are live now in beta, and will be available in the DIMO mobile app in the next 2 weeks.
Note, for existing users, levels no longer refer just to the length of your connection streak. Now streaks, stakes, and connection sources all have levels.
Car Levels - How it works
The way you connect your vehicle to the network serves as the foundation for your car’s level. If you are connecting with software, there are two options: Tesla & Smartcar:
If you are connecting with a DIMO hardware device, there are three options:
You’ll notice that connecting with an LTE R1 gives you 6x the levels as Smartcar! This is because the quality of data provided from the R1 is significantly better. To maximize your rewards, you can connect with both Smartcar and an R1, assuming vehicle compatibility.
In addition to the levels earned from your software and hardware connections, you can earn more levels with boosts. There are currently 2 boosts available: streaks and, in the near future, stakes.
Streaks - Supercharge Your Rewards
Don’t worry! Streak levels are here to stay, and reward drivers for keeping an active vehicle connection. Keep your vehicle connected and active to earn up to 3 bonus levels over time.
Streaks are lost if your car is disconnected for 3 weeks in a row.
Staking - Lock & Earn More
Staking $DIMO is a new way to earn even more rewards every week. It’s not just about earning more—it’s about aligning with the future of decentralized mobility. The longer you stake, the more benefits you unlock.
Each individual car will have its own stake level. This means you can add a stake boost to each connected car you have.
Staked tokens will remain locked for the stake duration, and boost rewards until the stake duration is complete.
*These values are based on the current baseline issuance, where 1 level = 2.75 $DIMO per week. Note, this changes overtime as more cars connect to the network and the baseline issuance schedule. For more information, see the most recent DIMO Improvement Proposal (DIP-2: Amendment 4) that specifies how rewards are earned.
When Can You Start?
Car Levels & Staking is currently available in beta and expected to roll out soon in the DIMO mobile app! Keep an eye out for the update and be ready to stake, level up, and earn more.
Joe Bender is on the Growth team at DIMO and has spent 7 years in the web3 ecosystem. He gets excited by the idea of using decentralized networks to empower the end user, and loves checking the battery voltage on his aging 2008 Honda CR-V. Before DIMO, Joe spent 3 years at ConsenSys nurturing the early Ethereum ecosystem, and 3 years at Stacks helping to kickstart web3 on Bitcoin. He loves how blockchain has inspired a wave of digital creation, and some of his favorite NFTs are Chromie Squiggles, Cryptopunks, and Geometry Runners.