Tech Deep Dive
- What is the roadmap ahead?
Validators testnet - April
Space Odyssey - May
Token Airdrop. Going on swaps with limited supply - June.
Major Exchanges landing - December.
- When is the mainnet coming?
- How many roles are there?
There are 5 roles: Artist, engineers, scientists, security, and doctor
- How to participate in space odyssey?
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?
Step 1: Connect Wallet
Step 2: Connect Socials (Twitter, Email, and etc)
Step 3: Mint Your SBT NFT
- What are the benefits of Verify to Earn?
Align the KAT token total value with the total amount of valuable data encrypted onto Karat Network. Only when there are valuable data uploaded onto the network, there will be KAT token mined out.
Verify to Earn incentivizes users to verify their ID by offering rewards based on their ETH and KARAT balance, wallet age, validator’s level 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% incentive 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.
- 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 are 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 of users’ wallet score ranking in our Space Odyssey Alpha. The last two rounds will be allocating 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.
The utility will eventually be stemming from KaratDAO’s DApps and Network Governance.
DApps: Projects may pay for KaratAds CPA and CPI campaigns to target specific user groups based on various tags and other criteria.
Projects may also 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 allows the earning of perpetual 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 get are found to be fraudulent or not accurate. If the validators who issued those credentials are determined to be exploiting the system judging by the governance committee, then the validator’s staked $KARAT will be penalized.