🐐What is Goat.Tech
A reputation standard, an earning community, and a marketing platform
Onchain Reputation
Soon, everyone with a crypto wallet will have a decentralized identity. The data from this identity can be fed on-chain by any Dapp to customize its user treatment. Vitalik Buterin received half of SHIB’s total supply as a result of his public ENS name. Someone with a high on-chain reputation can attract a lot of airdrops and benefits from virtually everyone. But how do we measure reputation in the Web3 world?
A lot of projects have scanned the blockchain ledger to measure the reputation of each wallet address based on its past transactions with other addresses, and its currently staked assets in DeFi protocols. However, such measurement data are mutable, not on-chain, and don’t reflect real-life mechanisms of how reputation is formed - one placing trust in one another.
But what is the unit of trust in the Web3 world? It can’t be USD, number of transactions, or some random token. At the end of our quest for the unit of trust, we realized that, being Ethereum maximalists, in ETH we trust, and Vitalik Buterin is the most reputable, the Greatest Of All Time. Regardless if Vitalik has the most ETH or not, people will, without a doubt, entrust the most ETH to him.
At Goat.Tech, we developed an on-chain reputation protocol where people can place trust in each other by simply staking ETH in each other’s “trust pool.” The real life mechanism of building and breaking trust is emulated and gamified through a set of rules in the form of smart contracts. We are also giving ETH stakers the native yield they all deserve. Our mission extends beyond creating a Dapp. We aim to establish an ETH rollup as the singular, most reliable source of on-chain reputation data. This will allow Dapps from any blockchain to access and utilize this data. Additionally, we will offer all users the opportunity to earn yields through ETH staking and restaking, courtesy of EigenLayer.
For KOLs, it’s time to leverage your community to stake in your trust pool, monetising your reputation in a sustainable way. For ETH maximalists, we offer a way to earn the most ETH yields available, increase your ETH balance, and build your reputation to unlock additional rewards. For everyday Web3 users, you can help validate the trustworthiness of people while getting rewarded in 10 different ways. We will finally be able to answer the question “who is the GOAT!?”
Why need Onchain Reputation?
Cryptocurrency scams are rampant, costing victims billions. A shocking report by the Federal Trade Commission (FTC) reveals that since the beginning of 2021, over $1 billion has been lost to crypto scams, a staggering figure representing more than one out of every four dollars reported lost in scams. In this Wild West of finance, trust is hard to come by. As the famous investor Warren Buffett said, "It takes 20 years to build a reputation and five minutes to ruin it." The blockchain technology, with its anonymous nature, exacerbates this issue.
Goat.Tech throws open the doors to a future where your reputation is your currency. Imagine a world where financial stability and the trust of others pave the way for success on the blockchain. Goat.Tech introduces an on-chain, real-time reputation standard that reflects a user's present financial stability and potential value generation. This revolutionary Trust Score is transparent and visible to everyone, allowing users to make informed decisions about who to trust.
Goat.Tech's roadmap takes a two-pronged approach to building trust in the Wild West of crypto. First comes the Goat Dapp, a gamified social-financial platform where users stake ETH to boost each other's Trust Score and compete for the Greatest of All Time (GOAT). This not only incentivizes positive behavior but also unlocks the power of Trust Scores for everyone in the Web3 space, from KOLs and investors to regular users. Looking ahead, Goat.Tech plans to introduce Goat L2, the first-ever Layer 2 designed specifically for on-chain reputation. This innovative system restakes your ETH for maximized yields while simultaneously building your reputation and increasing your ETH balance. By starting with a gamified approach of Goat Dapp and then transitioning to the advanced features of Goat L2, Goat.Tech creates a secure and trustworthy environment for everyone to thrive.
Trust Score is the foundation of every Goat.Tech feature and interaction. The higher Trust Score you get, the more $GOAT token you generate for people who stake in your pool, attracting more people to stake in your pool, generating instant earning for you, increasing your Trust Score, and so on. This virtuous cycle fosters a transparent and secure environment. Goat.Tech aspires to make Trust Score the standard, transforming the blockchain into a more trustworthy space.
KOLs (Key Opinion Leaders) are the tastemakers of the crypto world. With Goat.Tech, their reputation becomes their most valuable asset. The higher their Trust Score, the more they can earn. This incentivizes genuine, trustworthy KOLs to build strong followings. Goat.Tech isn't just a platform to monetize reputation; it's a place where KOLs can build loyal communities and solidify their influence in the ever-evolving Web3 landscape.
A high reputation, in form of Trust Score, helps you
Stand out among the rest in the Web3 world, to attract better investors, customers, followers, partners, deals, hires, etc.
Enjoy VIP privileges, more airdrops, more IDO allocations, shorter vesting time, lower loan interests, higher social status, etc. on both Web2 and Web3 platforms.
What is Goat.Tech?
Goat.Tech is Decentralized Reputation Layer with Restaking Yield that evolves over 2 phases (a Dapp and an ETH L2):
Phase 1 (Goat Dapp): First Gamified Onchain Reputation Protocol with Native Yield is a social-financial game where users stake ETH to increase each other’s reputation (Trust Score), earn rewards, and find out who is the GOAT (highest Trust Score). Endless use cases of Trust Score for Web3 users, KOLs, founders, investors, etc. Our goal: Top 10 TVL on Arbitrum One.
Phase 2 (Goat L2): First Restaked L2 for Onchain Reputation is the only L2 built on a unique combination of components that natively restake deposited ETH to earn you not just ETH staking yield but also extra restaking rewards. The only L2 that helps you maximize ETH yields while building your reputation and increasing your ETH balance.
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