Tech Deep Dive
- What is the roadmap ahead?
In April, we launched our Validator testnet. The Space Odyssey began in May.
In June, we will being Token Airdrops. These will go on swaps with limited supply.
We will have a Major Exchanges landing in December.
- When is the mainnet coming?
- How many roles are there?
There are 5 roles: Artist, Engineer, Scientist, Security, and Doctor
- How do I participate in Space Odyssey?
There are two ways to participate in Space Odyssey: as a Claimer, or a Validator.
Join as a Claimer: https://karatdao.com/network/claimer
Join as a Validator: https://karatdao.com/network/validator
- What do you need to do as a claimer?
Joining as a Claimer is simple. There are only 3 steps:
Step 1: Connect Wallet
Step 2: Verify Socials (Twitter, Email, etc.)
Step 3: Mint Your SBT NFT
- What are the benefits of Verify to Earn?
The KAT token total value is aligned with the total amount of valuable data encrypted onto the Karat Network. As valuable data is uploaded onto the network, KAT token is mined out.
The “Verify to Earn” system incentivizes users to verify their ID by offering rewards based on their ETH and KARAT balance, wallet age, level of Validator, and the total distribution amount of the day. This helps the network gain more data access and assets, encourages users to hold more KAT, and encourages Validators to compete and stake more KAT. The total daily distribution cap prevents potential attacks from large mining pools and exchanges with a lot of wallets.
- What is Data Buying and how does it work?
Data Buying involves buying user data under specific Validators. The cost is paid in KARAT and distributed to each Validator pool. Users and Validators each get 48% of the KARAT cost, and the network fee is 4%. The DAO receives 10% and will vote for 50 dApp partners to be launched on the KARAT ID Dashboard Credential section in 4 years. dApps need to stake 1,000,000 KARAT to participate and each round of the campaign will have a 0.5% reward to incentivize users to accomplish specific dApp partner's verification.
- What is Validator Staking and how does it benefit the community?
Validator Staking involves buying KARAT and ETH to stake, which delivers liquidity to the trading pool, helps with price and marketing, and serves as a coordinating mechanism for users to trust someone with their ID data. Malicious Validators who abuse user data forfeit their stakes to the rest of the community.
- What is Locking and how does it benefit the community?
Locking eliminates selling pressure from the market by incentivizing users to expand their profile and be more attractive to Ads buyers. Users can pay a verification fee to unlock their rewards faster. This helps pay for centralized API servers or decentralized nodes and encourages Validators to convert more users into farmers.
- What about Karat Tokens’ Utility?
This is our token value alignment analysis: https://docs.google.com/document/d/1c8IIN2ZXv20tbgrX17UzyoGKKG1-1HNHhy0c6IelJ0A/edit?usp=sharing
This is our token generation and data value correlation explained: https://docs.karatdao.com/verify-to-earn
Each KAT token will only be generated when there is valuable data being encrypted onto Karat Network, and the generated token will only be unlocked when there are people trying to pay and request access.
We plan to issue our token in July of 2023, with four rounds of airdrops. The first two rounds will be based on Users’ wallet score ranking in our Space Odyssey Alpha. The last two rounds will be allocated to users who are participating in our “Team Matching Carnival,” which encourages users to find teammates to launch the rockets by initiating data request transactions on Karat Protocol.
As the Karat Network grows, the utility of Karat Token will stem from KaratDAO’s dApps and Network Governance.
dApps: Projects can pay for KaratAds CPA and CPI campaigns to target specific user groups based on various tags and other criteria.
Projects can pay for KaratPro’s proprietary CRM tools. This service includes a comprehensive dashboard displaying detailed identity data analytics, including on-chain behaviors, from both current and newly accessible users, in a format that is both visual and easily digestible.
Network Governance: $KARAT holders will gain the ability to vote on the Identity Data Network’s proposals and other aspects of the KaratDAO ecosystem.
Validators: Stake to Validate (S2R) Web2 identity data.
Verification facilitates the ownership of users’ ID data as assets and generates ongoing income. This is through data API and other dApps working to gain access to our users via the network.
Dispute: People who request data access can stake $KARAT to initiate a dispute if the data they receive is found to be fraudulent or inaccurate. If the Validators who issued those credentials are judged by the governance committee to be exploiting the system, then the Validator’s staked $KARAT will be penalized.