We are building Karma - a reputation system for DAO contributors. The DAO ecosystem is growing exponentially with hundreds of DAOs being formed and thousands of contributors participating in this ecosystem. This brings with it a number of opportunities and challenges. DAOs struggle to understand who their most active contributors are and contributors don’t have a way to showcase their work, get rewarded for their work and get discovered by other DAOs.
Our goal is to build a reputation system to solve these problems. We do this by aggregating all the contributor activity and quantifying it to generate a Karma (reputation) score that can be used by DAOs and contributors. Also, when you put this activity and score on-chain for anyone to consume, we believe it will open up a number of use cases we haven’t even considered.
We are already working with a number of DAOs to help them design a customized reputation system taking into consideration their unique needs and nuances of how they operate. The DAO contributors can trust their reputation scores knowing that the DAOs themselves were involved in it and not an unknown third party organization. We believe reputation is a basic primitive that is sorely needed in the web3 ecosystem. It is a hard problem and there are a number of challenges. With the DAO community support, we believe we can solve this problem and this can become an important lego block in the web3 ecosystem.
To realize this vision, we have raised $1.2M from a very supportive group of investors and angels who believe in our vision and understand the importance of reputation - a core primitive in the web3 ecosystem. We would like to thank Seed Club Ventures, DXdao, Boost VC, Defi Dad (4RC), Evan Van Ness (Starbloom Ventures), Coingecko, IOSG Ventures, Dean Thomas (StealthCap) and a number of angels including Balaji Srinivasan, Ryan Sean Adams (Bankless), Ben Lakoff (SCV and Charged Particles), Rajeev (Secureum), Harsh (EPNS), Andrew Beal (Forta), Dave Rodman, Shawn Dimantha, Christopher Kong, Biao Boey, Guled Yousuf and others for their support.