Neo, the cryptocurrency with its own blockchain, is now a part of the KaratDAO ecosystem. KaratDAO is a decentralized identity and data network that wants to combine the points of Web2 and Web3, succeeding by using multiple computing technology and zero-knowledge proofs. With their new initiative called W3Auth, they are planning to simulate OAuth, the open Web2 standard which allows users to get access to websites and applications by verifying their identity and authenticating their account. Instead of storing user information on a single server, W3Auth will manage the data using decentralized standards and smart contracts, making sure that the users themselves own and keep control of their data.
The KaratDAO platform is designed to reward the people who contribute their information and data to them. There is a mechanism known as Verify-to-Earn where people get incentives for giving out their data. To carry out this reward system, they employ a dual Non-Fungible Token system consisting of two roles: Validator and Claimer.
Validator role goes to those who wish to authorize new users in the network. The more users that are recognised and verified, the bigger rewards they are entitled to. The Claimer role is accessible to all users who have a Web2 credential (such as Twitter handle or email address) and Web3 credential (wallet address). By doing so, the users get a Claimer Pass in form of an NFT. This token makes their bearer eligible for $KAT token airdrops and other benefits in the KaratDAO ecosystem.
At the beginning of the Karat Network, there will be 30 Genesis Validator NFTs, each costing 1 ETH and 300 Original Validator NFTs, costing 0.2 ETH each. For users interested in getting the Claimer NFT, there is an unlimited supply of them that can be acquired for free when linking their records.
Neo will be a Genesis validator, part of the Space Odyssey campaign, which aims to raise awareness and recognize new users of the Karat Network. The Genesis Validator went active on the 10th of May and now users who register with this network and select Neo as their validator will obtain rewards and are allowed to take part in the airdrops.
Naomi Gonzales
- 2023-05-12
Neo Now a Part of KaratDAO's Space Odyssey Campaign
Neo is now part of KaratDAO's Space Odyssey Campaign, an initiative designed to raise awareness and recognize new users of the Karat Network. Those who register with this network and select Neo as their validator will obtain rewards and are allowed to take part in the airdrops.
