Merit System
Last updated
Last updated
In addition to improving investor accessibility, it's important to improve community transparency. Today in DeFi there is no clear standard way for new or existing projects to identify who would make a valuable community member. There’s also a lack of transparency in most projects as to what makes a valued member. Many DAOs and projects manually / haphazardly track who contributes, creating a process that is inefficient and subjective.
For this reason we developed a merit system that serves as a reputation framework to determine which investors and contributors are rewarded in our ecosystem. Our core innovation is that we developed a merit system discord bot that automatically tracks activity in a discord server, plus allows teams to issue merit tokens (using Solana) to community members. We then create a merit leaderboard for all community to access with descriptions of each contribution and how many merit tokens it was valued.
We made this service available to any community for free, where eventually we will add features over time where we have a freemium / SaaS business model. The merit system creates a separate merit token for each business, where the purpose is to track merit points, transparently written to the blockchain. Eventually we may also require using $ROCKET to pay for this service, creating another utility for the token.
If you are part of a community and interested in trying it, we will have it ready soon at no cost. Let us know in our Discord and we will keep you posted when it's available.
