Tokenizing Reputation
Last updated
Last updated
To solve the challenges of growing business relationships through warm introductions, we need a system that combines the trust of personal referrals with the wide reach of global networks. Reputation staking is a powerful solution, using blockchain to create a clear and trustworthy platform where reputations are tracked and supported by others.
With reputation staking, users can stake tokens on themselves or others, boosting trust signals across larger networks. This makes it easier to find reliable business partners or clients. The system rewards positive behavior and provides a simple way for businesses to prove their credibility. Business development teams can skip the inefficiencies of cold outreach by connecting with prospects who are already trusted and endorsed, leading to higher response and success rates. In the next sections, we’ll explain how IntroLink’s reputation staking system works to make business development more efficient and reliable.
IntroLink introduces a native token called $INTRO, which serves as the backbone for its reputation system. The platform leverages reputation staking and delegation mechanisms to enhance trust, incentivize positive behavior, and foster a reliable network of users facilitating introductions.
Staking Tokens
Reputation staking provides a reputation signal boost to a user's profile, allowing them to level up their reputation tier on the platform to access higher tier introductions on the platform.
Self-Staking: Users can stake $INTRO tokens on themselves to signal confidence in their own reputation and commitment to the community. This act serves as a financial pledge to behave ethically and contribute positively.
Delegated Staking: Users can also stake tokens on others, endorsing their trustworthiness. By staking on another user, you are publicly vouching for their integrity and reliability within the platform.
Token Lock-Up Period
Staked tokens are locked and cannot be withdrawn immediately.
A [4]-week withdrawal notice period is required from the time a user requests to unlock their tokens until they are released.
This lock-up period ensures stability and commitment within the network.
Bonding Curve Mechanics
Reputation Staking: Users stake tokens on individuals they believe are valuable connectors.
Bonding Curves: As more tokens are staked on a person, a bonding curve increases the price of requesting an introduction.
Dynamic Pricing: The more people stake on someone, the higher the cost of an introduction, reflecting increased demand.
Incentivized Requests: This system encourages strategic, thoughtful introduction requests.
Rewarding Influence: Individuals with high staked reputations are rewarded as their perceived network value grows, raising the introduction cost accordingly.
Platform Revenue Sharing
IntroLink collects fees from various platform activities, such as transaction fees for successful introductions.
A portion of these fees is distributed to stakers as a reward for their participation and commitment to the network.
Performance-Based Bonuses
Stakers receive significant bonus rewards if the user they have staked on contributes positively to the platform (e.g. by making intros, referring new users, or being a highly in-demand intro target).
For example, if a staked-upon user facilitates requested introductions successfully, their stakers earn additional rewards.
This mechanism incentivizes users to stake on active and reputable members, promoting a high-quality network.
Conditions for Slashing
Misbehavior Reports: If a user is reported for identity fraud, scamming, or other malicious activities, they may face slashing penalties.
Impact on Stakers: Both the user's own staked tokens and the tokens staked on them by others are at risk of being slashed.
Purpose: Slashing serves as a deterrent against malicious behavior and holds users accountable for their actions.
Appeal Process
Initial Management: The appeal process for slashing decisions is initially managed by a committee to ensure fairness and due process.
Future Decentralization: Over time, the appeal process will transition to a decentralized model, where committee members are elected by stakers.
Rights of the Accused: Users have the right to appeal slashing decisions, providing evidence or explanations to contest the claims against them.
IntroLink offers users valuable non-financial rewards, including enhanced social and reputational status within their network. Users gain proof of connectedness through a verifiable history of successful introductions, each rated to reflect the quality and impact of their contributions. This rating system builds a reputation signal, showcasing users as trusted connectors and valuable contributors. Over time, users' profiles will reflect their influence and reliability within the network, positioning them as key players in fostering meaningful professional relationships.
Trust Building
Reputation staking and delegation create a transparent and trust-based environment.
Users can assess the credibility of others based on the amount and source of staked tokens.
Incentivizing Positive Behavior
Financial incentives align user behavior with the platform's goals.
Active and positive contributions are rewarded, enhancing overall network quality.
Risk Mitigation
The threat of slashing discourages fraudulent activities.
Users are more likely to act responsibly when their financial stakes are at risk.
