Blockchain
Neo joins the KaratDAO ecosystem by becoming a data validator. KaratDAO is a decentralized identity and data network that aims to bridge Web2 and Web3 by using multi-party computing and zero-knowledge proof technology.
The KaratDAO team is working towards a new Web3 standard called W3Auth, which emulates OAuth. OAuth is an open Web2 standard that provides seamless access to websites or applications through simple identity verification and account authentication. For example, when a person logs into a new web application, they can use their Google account to quickly get on board.
Instead of storing user information on a central server, W3Auth uses decentralized identity standards and smart contracts to ensure user data is owned and controlled by the user.
Users who choose to submit their data to the Karat network earn rewards for participating through it verify to earn mechanism. The V2E mechanism aims to help communities reward their users by using the KaratDAO dashboard to help them learn more about their users’ Web2 and Web3 identities and preferences.
To deploy this mechanism, KaratDAO will use a dual-NFT model, one for the validator role and one for the claimant role.
KaratDAO NFTs
The Validator role is designed for those who want to integrate many users into the Karat network. The more users link their Karat ID to a Validator, the greater the rewards it will receive.
The Claimer role is designed for all users and can be obtained by associating Web2 credentials (ie Twitter account, email address) with a Web3 credentials (ie wallet address). After providing the information, the user can obtain a Claimer Pass NFT. This NFT makes the token holder eligible for $KAT token airdrops and other ecosystem benefits.
In the first phase of the Karat Network rollout, there will be 30 Genesis Validator NFTs (1 ETH each) and 300 Original Validator NFTs (0.2 ETH each). There is an unlimited supply of Claimer NFTs, which are provided free of charge when a user selects a Validator and provides social media information.
Neo will join the Karat ecosystem as a Space Odyssey Genesis validator. Space Odyssey is an activation campaign for the new Karat Network launch, designed to onboard new users. The Genesis Validator role became operational on Wednesday, May 10. Users who register with Karat Network and select a Validator node will start earning rewards and will be eligible for future airdrops.