Original: Rabbithole
Compilation: The Way of DeFi
At RabbitHole, our mission remains focused on redefining the crypto world by emphasizing participation in crypto networks rather than mere investment. Over the past two years, we have explored reputation systems such as XP and on-chain credentials in pursuit of this goal.
Through these experiences, we have gained valuable insights. On the XP side, we found that the lack of scarcity and offline nature made standardization difficult, and the endless printing possibilities resembled the behavior of central banks, contradicting our core principles.
We then explored on-chain tokens, grouping them into categories like DeFi, DAOs, and NFTs. While this facilitates user participation in the cryptosphere, standardizing it as a reputation system for assessing user contributions proves difficult because users also engage in activities beyond the credential framework.
We realized that the key was to focus on earnings from active participation in crypto, not capital investment. This shift will level the playing field and bring us closer to a more accessible and merit-based crypto ecosystem.
ETH Earned:
A new on-chain reputation system that makes participation as powerful as investing
The concept of ETH Earned stems from a powerful question: "What if on-chain participation is more important than your wallet balance?"
Built on RabbitHole's Quest Protocol, ETH Earned stands for engagement. The more tasks you complete, the more ETH Earned points you get. You can check your ETH Earned points by going to the Rewards page.
To ensure fairness, ETH Earned is calculated when tasks are deployed, so that all participants receive the same amount of ETH Earned, independent of token price fluctuations.
Use Cases for ETH Earned
ETH Earned offers a wide range of potential uses as a multifunctional reputation building module to make reputations more valuable within the crypto ecosystem. Here are a few examples where ETH Earned can be applied:
Task Eligibility : In the future, your ETH Earned score will determine your eligibility for specific tasks, ensuring participants have the experience and knowledge needed to tackle more complex tasks.
Resistant to Sybil attacks : As your ETH Earned score increases, your wallet becomes more resistant to Sybil attacks as the rewards are directly tied to task difficulty. This enhanced security helps protect the integrity of encrypted networks.
Score Wallets : ETH Earned introduces a new way to evaluate wallet scores, taking into account not only balances but also users' active participation and contributions in the crypto ecosystem.
Access to Exclusive Platforms : Users with high ETH Earned scores may gain access to exclusive platforms such as passwords or communities where they can collaborate on projects with like-minded individuals.
Governance weight : ETH earned scores may affect the internal governance weight of decentralized organizations, allowing those with higher scores to play a greater role in the decision-making process.
Incentives to learn : ETH Earned can be leveraged to encourage users to expand their knowledge of various cryptographic protocols and platforms. By rewarding users for their active participation, the ecosystem can foster a more informative and engaged community.
Token AirDrop : Projects may choose to distribute tokens or rewards based on user ETH Earned scores, targeting those who have demonstrated a strong commitment to the crypto ecosystem.
These are just a few examples of how ETH Earned can be used to create a more accessible, merit-based, and secure crypto ecosystem. By rewarding users for active participation, ETH Earned has the potential to revolutionize how we interact and contribute to the crypto world.
Pursue our vision: a more accessible Crypto ecosystem based on merit principles and democratized governance weight
We firmly believe that promoting sustainable cryptonetworks depends on making token distribution more accessible to those participants who demonstrate their value through on-chain contribution and active participation. ETH Earned is the latest innovation to support this vision.
We warmly invite you to mingle on ETH Earned and connect with our vibrant community by clicking here to join the Discord. Together, revolutionize the crypto world to be more meritorious and inclusive.
https://rabbithole.gg/quests
