Problem: Crisis of Trust in Web3

Safety and prosperity in Web3 are hindered by bad actors who lack or abuse reputation. After all scams, rug-pulls, and unreliable KOLs/investors, who can we trust to continue building, investing, or promoting in Web3 space?

No existing trust score can solve this yet, due to 5 basic limitations:

• Centralized, opaque algorithms: most trust scores are calculated off-chain based on black-box algorithms that no one can verify or assess.

• Not reflect real life, in real time: once reputable ones are not always reputable; there’s no mechanism to submit on-chain data based on real-life knowledge; trust scores based on past onchain data alone can lead to reputation abuse or, worse, exit scams.

• Unsecured trust: trust scores based on only data are not secured; nothing happens if they are proven wrong.

• Zero consequences to bad actors: there’s no mechanism to hold bad actors accountable; on-chain detectives keep exposing wrongdoings in exchange for no justice, and more harassment.

• Lack of incentive to validate trust: most importantly, there’s no incentive system to motivate people to quantify trust and penalize them when they are wrong.