🎓FAQ
What is Credit DAO?
Credit DAO is a relationship network for global Web3 community aggregation and crypto investors. With the on-chain value discovery protocol, it helps global quality Web3.0 innovation projects to precisely match quality communities and users based on on-chain identity profiling.
What is Credit DAO Proof?
Credit DAO Proof (later abbreviated as CDP) is Credit DAO's decentralized identity credential, or DID (Decentralized Identity), also known as Self-Sovereign Identity, is an open standards-based identity framework that uses digital identifiers and verifiable credentials that are owned, independent, and can be exchanged for trusted data.
CDP as Credit DAO's DID is closely related to the on-chain identity portrait, and the user's behavior on the chain will be recorded on CDP and used as a carrier of PoT (Proof of Time) to achieve self-value aggregation and revenue.
What is an on-chain identity portrait?
Credit DAO will use CDP (Credit DAO Proof) to provide each user with the basis for establishing an on-chain identity, and users can subsequently upload their own information (such as personal resume, social accounts, etc.) to improve their identity information, and at the same time, spend time on PoT to achieve value acquisition, so as to obtain revenue and value presentation, and achieve common wealth, wealth of The third distribution.
What is Proof of Time?
Proof-of-Time (PoT) is a decentralized consensus algorithm that works by selecting validators in proportion to their ranking scores and fixed stake. A ranking score is a numerical weighting measure that the algorithm assigns to each validator based on its historical experience (the accuracy with which the node validates event data) and other validators’ experience with the node.
What is Value Credit Rating?
Value Credit Rating will use machine learning based classification model and social data based personal behavior model to collect user's on-chain behavior, especially in Credit DAO, to credit rating the user. In Credit DAO, users will interact with the core contract to obtain their soul identity bound to Credit DAO Proof, while Credit DAO will retrieve the user's on-chain behavior and work as a proof-of-time node to derive the corresponding value credit rating, which will be used as an important indicator for CDP upgrade.
What are the benefits of CDP?
As Credit DAO is jointly constructed by users, holders of $CD will also have different rights and benefits in the future:
Revenue sharing: The revenue earned from the services provided by Credit DAO will be proportionally distributed to the soul bound NFT holders;
credit credentials: soul-bound NFT is the user's credit credentials, through which the user can make credit loans on other decentralized lending platforms, and can also be used to provide credit guarantees for other friends;
credit pass: when the credit score reaches a certain level users will automatically get whitelisted for various star Web3 projects, and some applications with credit thresholds can also be accessed unconditionally by holding Credit DAO's NFT;
airdrop/WL quota: all projects with Credit DAO will have various forms of airdrop for NFT holders.
Token earnings: Holders of NFT-CDP can participate in the Proof of Time (POT) mechanism to obtain $CD tokens.
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