The Devil's Advocate on Door
Every crypto must uphold against criticism. It is what makes us stronger. To ignore it would be counterproductive. The goal is to improve and make sure you stay true to the mission.
The best thing you can be is your own worst critic. This is especially true in crypto. Every crypto goes thru multiple rounds of brutal feedback and criticism from the community - it’s a right of passage. Even Bitcoin (the father of all crypto) still faces massive backlash on environmental concerns, speed and “Chinese” control.
So in the spirit of the crypto-verse, we took it on ourselves to critique DOOR as best as we could.
#1: DOOR is new and unproven
Yes, there is no denying that DOOR is new. This poses a major challenge to the team. How do we get the word out about DOOR? How do we effectively market our vision to the community? The short answer is two-fold. The first is we believe our incentive program where we reward consumers for registering will help us spread the word and get people to register. The second piece is our marketing plan and budget. We have a clear understanding of how we plan to build a marketing funnel to acquire core users including cost-per-registration which we have already identified in beta marketing tests. Ultimately, we believe we have a strong call-to-action, and we know our CPC, CPA data. It’s just a matter of buying eyeballs.
#2: Why does the world need DOOR?
There is no escaping the big “WHY” question. Although we have launched a newsletter and FAQ website that breaks down the benefits of DOOR, here is a short summary. DOOR connects consumers with advertisers directly, so consumers can make money and advertisers can save money. Essentially in the spirit of decentralization it removes the “Fat Cat” middleman who makes all the money on selling ads and data. And just so you don’t think it’s completely capitalist, it also puts the power of controlling personal data back into the hands of the consumer. Right now, it’s obscene how much money Big Tech is making off our information - and there is no sign of them stopping.
#3: Nobody wants to give their data to businesses.
This may be true in context, but I would have to highlight that the entire Internet functions solely based on the face people give up their data every day. Trillions of dollars is being made off of selling our data. So, although the general feeling is “I don’t want to give my data to a business” - the reality is closer to “I only want to share my data with businesses that I need their product or service”. That’s a big difference. And only DOOR can truly say we connect consumers with only businesses they have opted-in to receive information. Right now, everyone’s data (I mean everyone) is available on the web and sold to the highest bidder - without your permission. At least with DOOR you are in control and you are compensated.
#4: Is a DOOR Token really money?
Yes. I realize there will be many people who register with DOOR who are not familiar with crypto currency. So when they hear the word “Token” or “Reward” it sounds like code for fake money. The reality is that DOOR Tokens that are use to reward and pay consumers for the use of their data do have real value and can be sold on the open market. DOOR has ensured there is liquidity on the Uniswap Exchange where anyone can exchange their DOOR for USDC (Stable Coin tied to the Dollar) - and if they want to exchange that to U.S. Dollar - they can do that at any exchange. When you earn DOOR, you earn money.
#5: What stops DOOR from being another “scam” or “rug pull”?
Every token / coin has to answer to the fear, uncertainty and doubt of people worried the founders will pump the price of the token and then sell it all, leaving others holding the bag. Unfortunately this is the nature of the beast, and nobody can guarantee 100% this will not happen. However there are elements that you can look at within the white paper that show you how the token and application will operate. For example, with DOOR - 70% of the tokens are reserved specifically for rewards paid out to consumers. This allocation is unheard of and ensures the growth of the network for the long term. DOOR rewards is what drives the growth of the network and will be distributed to millions of people over time. So by default at least 70% cannot be part of any sort of “dump” or “rug pull” because it will be diversified to millions of people over time. The other 30% is divided up amongst operations, liquidity, reserves and the team. The Initial Liquidity Pool of 200MM (5%) tokens is being allocated directly to Uniswap Liquidity Pool. So that also removes itself from being “dumped”. Actually quite the opposite - it ensures there is liquidity for all holders. The Team allocation of 400MM (10%) is the only portion that is truly at risk of being “dumped”. However, it is counter-intuitive to invest so much energy and time into building something with such high potential, and sell everything before it has a chance to reach its full potential. And even if the team did “dump” everything - it’s less than 10% of total circulation. At the end of the day, we have to earn the trust of DOOR holders, and you do that through communication and making sure questions (even the hard ones) are answered. Everyone has a choice whether they want to trust DOOR, and we hope to convince everyone through action and not just words.
#6: Why would anyone buy DOOR versus other Cryptos?
Every cryptocurrency has a story and in some cases a purpose. Many do not. We believe DOOR has a unique value proposition with real utility. First and foremost, DOOR allows businesses to buy quality data (leads) directly from consumers - and - inversely consumers can make money from licensing their data. This is a true win-win marketplace which uses DOOR Token as it’s currency.
We believe because we are building a more consistent and ongoing basis for transactions where advertisers will buy DOOR to use solely to access data that the value of DOOR will rise naturally. Essentially DOOR Token represents the value of Data - and I think we can all agree that data is very valuable (just ask Facebook how they make their money.)
Of course, nothing is stopping anyone from buying and selling DOOR as they see fit on exchanges - but we do believe that the true utility will be the driver of long term value. Every new token seems to have a lot of momentum in the first few weeks - until people realize there is no utility outside of “going to the moon”. And as soon as everyone sees the ride is ending soon, they jump off the rocket. Our goal is to generate value between consumers and businesses - it just so happens crypto was the only way we could build a reward system that could scale to millions of consumers.
#7: How do you compete with Big Tech (and other competitors)?
Competing with Google, Facebook, Twitter, and Zillow certainly sounds daunting and a losing battle. However, we aren’t really competing with their core business. We are not building a search engine, social media site or real estate portal. We are building a direct connection with consumers with a very unique value proposition. None of the Big Tech will pay consumers for their data. None of the Big Tech will wake up tomorrow and say “Hey, you know what, we don’t need your clicks, posts, pictures or information anymore.” Also, using DOOR and any of these other services doesn’t conflict. Nobody is saying "Don’t use Google anymore”. In fact, I would argue that these providers are our biggest promoters. The more they abuse and use our personal data - the more people will wake up to the idea of making the money for themselves.
This is about Privacy and Profit. It’s that simple. DOOR enables every consumer to decide who receives their information, and if/when they do share it - they profit. This experience is more of a “right” than an “app”. Your Data. Your Money.
If you have any questions or suggestions feel free to email us or post on our Telegram. We look forward to having open and challenging conversations about DOOR.