Introducing Mercle: Building the Identity Infrastructure for Internet Communities.
Introducing Mercle, a novel decentralized identity and utility infrastructure. Mercle’s system recognizes each user’s actions and contributions as ‘proof of work,’ which serves as a robust indicator of their digital Identity. This notion of ‘proof of work’ unlocks utility within the ecosystem and generates tangible rewards. This dual emphasis on action-based identity formation and utility/reward creates a dynamic, user-centric digital environment.
In the journey towards a decentralized universe, Mercle is poised to establish a strong identity and utility infrastructure, empowering Web3 communities. Currently, in private beta, we take pride in offering a platform marked by exceptional security, transparency, and efficiency.
The Problem with Internet Communities
The nature of members’ contributions to network states is diverse, ranging from social interaction and community involvement to token staking, voting, and liquidity provision. These various interactions occur across numerous platforms, further complicating their measurement. Compounding this issue is the absence of a robust, modular infrastructure capable of accurately gauging such participation and issuing appropriate claims.
The lack of in-depth information about the participant's contribution negatively impacts key community operations. For instance, governance is primarily influenced by the number of tokens members hold, which directly correlates to their financial standing. This structure can allow certain affluent groups to sway decisions while neglecting the overall contribution to the community. Furthermore, in terms of community engagement and rewards, no mechanism currently exists to motivate increased participation amongst loyal members.
The Solution: Mercle’s Identity and Utility Infrastructure
At Mercle, we propose this solution where we think there is a middle ground between SBTs & VCs (verifiable credentials). Leverage the existing NFT adoption and also keep the properties of truly decentralised identity. We are focused on maintaining the core properties of identities (decentralized, self-sovereign, composable) while leveraging the benefits of verifiable credentials (fast, gasless, user-friendly UX, and tech-independent). Yes!! All claims are stored and updated gasless.
Mercle’s Profile Architecture was made up by combining ”A Two-Part Storage” consisting of
- Soul Bound Identity: The identity data is stored using the format ‘did:<walletaddress>’. It acts as a comprehensive repository that chronicles the user’s interactions and activities across various communities. These actions — ranging from social engagements like engaging on platforms like Twitter or Discord, to more complex on-chain activities like staking, trading, and voting — create a holistic depiction of the user’s identity.
- Utility Profile: This component of our storage system is composed of verifiable proof of the rewards users receive for their actions. Rewards can span from social to financial benefits. Social rewards may include unique recognitions or badges that set users apart within the ecosystem. Financial rewards, on the other hand, could offer direct monetary benefits, such as discount airdrops or locked tokens. This concept closely parallels the reward structures common in Web2 platforms.
These profiles focus on giving a solution that suits up communities and motivated them for the engagement they produce. Let’s look at the two components of the profile more closely.
On-Chain Verification
In the beta phase, Mercle serves as the sole verifier and issuer of proofs, certifying users’ actions on the platform. However, the goal is to decentralize this process, similar to software development platforms where contributors receive recognition.
To achieve decentralization, Mercle introduces the “CLAIM_ISSUER_ROLE” in their smart contracts. This role allows whitelisted community administrators to approve users’ submitted proofs, distributing the validation process across multiple admins.
Proofs and claims data are stored as IPNS datasets accessible from any IPFS provider, enhancing data resilience and availability. Mercle ensures compatibility across platforms by signing proofs using the EIP-712 data signing standard, usable for both on-chain and off-chain purposes.
The verified proofs unlock rewards for users in the form of either NFTs. These rewards are stored on-chain with the identifier ‘did:<tokenId>’, where ‘did’ stands for Decentralized Identifier.
Mercle Use Cases
Some of the key use cases for Mercle infrastructures are:
1. Customizable KPI-driven Initiatives: Mercle enables DAOs to incentivize members to achieve specific objectives such as providing liquidity, translating content, or promoting distribution on social media. The platform’s dynamic NFT rewards can be customized to align with a variety of ongoing business KPIs.
2. Recognition and Rewarding of Valuable Users: By leveraging verified identities and reward profiles, Mercle can identify and reward valuable users. This fosters a sense of community, encourages participation, and cultivates a thriving ecosystem.
3. User Acquisition and Engagement: Mercle’s reward system can be an effective tool for attracting new users and retaining existing ones. By offering tangible rewards for engagement and participation, the platform encourages users to become more involved in the DAO’s activities. This, in turn, can lead to an increase in community growth and user loyalty.
4. Enhanced Governance through Dynamic NFTs: Mercle’s infrastructure utilizes dynamic NFTs as a representation of voting or decision-making power within a DAO. This flexible approach boosts efficiency in snapshot voting and decision-making processes.
5. Support for Community Initiatives: Whether it’s an Ambassador program or a Developer Bootcamp, Mercle’s infrastructure efficiently tracks participation and rewards members for their engagement and contributions.
Private Beta: Join the Exclusive Revolution
Mercle is thrilled to announce the launch of our private beta, now open to a select group of users. This phase aims to refine our identity and reward infrastructure while gathering feedback before a wider release.
Our platform focuses on creating a trusted and transparent system of Identity and utility. It empowers DAOs and internet communities to customize fair and transparent incentivization. During the private beta, users can explore features like dynamic NFT rewards and our verified identity system. We value user feedback to enhance our platform. Feel free to drop your suggestion on our Discord.
To join the exclusive revolution, apply for access by booking a call on our Calendly
Also, don’t forget to join our exclusive waitlist and be eligible for many limited campaigns and activities ;)
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Stay tuned as we launch Mercle, the future of decentralized identities and community engagement in the Web3 era. Your digital identity will become more personal, secure, and rewarding!
