❓What's EtherScore?
EtherScore is a decentralized reputation system using badges to create user profiles that aggregate Web3 achievements. On top of EtherScore, Dapps can develop reputation-based services in areas like curated social networks, fair airdrops/ICOs, DeFi, and DAO governance.
Problem: Reputation systems in blockchains are missing
Complex Web3 User Experience: Web3 users need a clearer view of their activity history (blockchain explorers are complex and not user-friendly).
Dapps and DAOs need a way to efficiently curate and reward their users for their contributions.
Unfairness in Web3 incentives: Web3 incentives focus on user growth, not retention. Token distribution methods are vulnerable to speculators and bots (ICOs, airdrops, or dapps incentives).
Unfairness in Web3 governance: Dapps/DAOs need to be governed by their users, not just capital.
Web3 is growing rapidly with more users, chains and dapps every day. However, the lack of robust user analytics is limiting progress on several fronts, including improving the user experience, effective token distribution methods, user retention strategies, and more distributed DAO governance. Current experimental approaches to user incentives, ICOs, and airdrops often lack interoperability, verifiability, and transparency, leading to disparate methods for community curation that are predominantly centralized.
EtherScore introduces a reputation system aimed at identifying and rewarding Web3 users effectively. This system seeks to standardize metrics and adopt a decentralized approach, aiming to improve the fairness, transparency, and efficiency of the Web3 ecosystem.
Solution: EtherScore's on-chain reputations
EtherScore's reputation system solves a basic problem for blockchain organizations: how to find, recognize, and reward users over time.
EtherScore creates NFT badges based on a user’s on-chain actions. They are indelible and can be used to certify experiences, provide proof of an accomplishment, or distribute incentives to certain classes of users. User actions can include anything involving a blockchain, such as interacting with a DeFi platform in a particular way, belonging to a DAO, or using any Dapp.
Users can collect badges to improve their on-chain reputation and build their EtherScore profile (onchain resume/overview of user's Web3 activity and preferences). As users accumulate badges, they become curated and can receive incentives from Dapps such as discounts, better APY, DAO voting power, and anticipated access to features or staking pools, etc.
EtherScore DAO, the first use case built on top of EtherScore, intends to develop new paradigms of governance by using onchain reputations in addition to ERC20 tokens.
To get started and claim your first EtherScore Badge, follow this tutorial
Please note that while our NFT badges are on testnet, they are only based on mainnet actions, so the user profile is already representative of true onchain reputation (only the proof is stored on a blockchain testnet instead of centralized servers).
To learn more about EtherScore concepts:
Last updated
