We are excited to formally announce our collaboration with the GitcoinDAO. Gitcoin has started using Karma’s reputation system to power their Steward health cards - a tool that provides valuable metrics for their stewards and improve the transparency and accountability of the steward’s work.
We made some major enhancements to our reputation system to aggregate and curate contributor activity at a more granular level. Some of the data points we curate include
Stewards and other token holders can now look at the recent 30 day activity and the lifetime activity. Some of the benefits of these stats include helping token holders (re)delegate their tokens to most active stewards and stewards stay more engaged and maintain a good reputation.
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.
Karma and Secureum are excited to collaborate on issuing NFT badges as credentials to all eligible bootcamp participants of Secureum and help them build an on-chain transparent reputation in the Ethereum security ecosystem. At Karma, we believe for a use case like this, NFTs work better than say Verifiable Credentials. We also decided to keep these NFTs transferable (default behavior) because there are more benefits to keeping it transferable than preventing user from transferring these NFTs.
Secureum’s mission is to further improve Ethereum security by catalyzing a community-focused effort on education & evaluation. Secureum organizes an always-running free online Ethereum security bootcamp where participants learn about smart contract security pitfalls & best-practices. They assess themselves in RACEs which are smart contract security quizzes. Top RACE participants are invited to participate in CAREs — Comprehensive Audit Readiness Evaluation — which are smart contract security reviews of security-minded protocols & CARE-Xs — CARE Extra — which are customized CAREs with collaborating Ethereum security partners.
Secureum has issued over 1000 badges so far using Karma’s NFT badge minting infrastructure for RACE, CARE & CARE-X participants. All the NFT badges were issued on Polygon Mainnet. Participants can view all their badges issued by Secureum in their Karma profile. Here is an example profile of a user showing all their badges. We are working on building a reputation leaderboard of all the participants based on the badges they have earned. Secureum will continue to issue more badges using our infrastructure.