BrightID Launches Bright DAO to Solve Identity Verification in Web3
- BrightID: decentralized proof of uniqueness, available as an open-source public good
- DAO: “Decentralized Autonomous Organization,” a leaderless community of coworkers
- Identity Verification: one of cryptocurrency’s greatest unsolved problems
- Web3: the cryptocurrency-native internet, focused on decentralized applications and better ways of coordinating resources towards a goal
Cryptocurrency’s mass utility has been held back by how hard it is to link a wallet address with a unique human being. BrightID addresses this with verified connections, where people confirm the existence of other real people they know. Unlike other identity tools, BrightID doesn’t rely on centralized third parties like Twitter or Google, and it doesn’t use any of your personal information. Over 30,000 verified users and a dozen web3 applications use BrightID already.
To accelerate its growth and secure its long term direction, BrightID has launched Bright DAO with a new governance token $BRIGHT. Built on 1Hive Gardens, Bright DAO will manage a decentralized treasury to fund operations, R&D, growth, and whatever else the community decides is valuable. Unlike most DAOs today that are managed by centralized teams, DAOs built with 1Hive Gardens are truly community-owned, using a combination of an on-chain social contract, conviction voting, and dispute resolution to secure the community’s direction. You can view Bright DAO’s social contract here.
For more information on how to participate in the Bright DAO community, check out the guide.
$BRIGHT Tokenomics at a glance:
- 25 million $BRIGHT issued, with a 100 million max supply
- 10 million $BRIGHT allocated to treasury
- Remaining $BRIGHT allocated for past work done, airdrops, and liquidity incentives. (Find out more)
Why is this a big deal?
- Bright DAO community members that hold $BRIGHT now have the full power to create and pass funding proposals for BrightID.
- BrightID is no longer dependent on donations for funding. It has a substantial and sustainable treasury to fund itself.
- With the token launch, millions of dollars of new wealth was created, backed by a public good. This type of financial asset is an economic innovation with enormous global potential.
