Project Name and Company
CrowdSafe, StakeWarriors
Application type
Product Launch
Proposal overview
CrowdSafe is an on-chain Smart Contract that uses Proof of CrowdSafe, PoCS (a.k.a Proof of Peer Review, PoPR) to define a wallet/token/contract’s creditworthiness. This is a peer-review-based process where reporters are incentivized through the minting of an ERC-20 token called $VERIFIED as a reward for their submissions.
Reviewers can deem a wallet/token/contract as safe or scam. The scores are published on contract and through the CrowdWatch Registrar DApp. Accounts with high scam scores are banned from interacting with the contract. If a Smart Contract using CrowdSafe will be locked down if they have been deemed to be a scam.
CrowdSafe is currently deployed on Polygon, and CrowdWatch has also already launched. CrowdSafe has already been upgraded to version 2 with initial plans for a third upgrade. CrowdSafe’s first partner, StakeWars is set to launch within the week.
Adoption is slow, which is why we are reaching out to help grow our presence in the community. With community buy-in and investment, CrowdSafe will become the leading provider of creditworthiness, a product of great interest for investors, borrowers, and lenders.
Tokenomics
The $VERIFIED token is currently inflationary with no max supply, however, the project has been structured such that it will be transferable to a DAO when the project has reached maturity.
The $VERIFIED token has intrinsic value in two ways. One is that it is used to determine whether a wallet/token/contract should be banned, and two $VERIFIED can be burned in exchange for increased awareness scores. A novel way for influencers to buy clout or hedge against being banned. Since a wallet/token/contract can be banned from either having more negative votes than $VERIFIED or by having a lower awareness score than the number of disapprovers, accounts are compelled to have both the $VERIFIED and good awareness scores.
The $VERIFIED token is minted to anyone who submits a Safe or Scam Report against a wallet/token/contract. Every unique reporter against a given wallet/token/contract will increment that address’s awareness score. There is Safe Awareness and Scam Awareness. You can burn $VERIFIED to lower your Scam Awareness or higher Safe Awareness, this will require submitting many reports (a payable function) or buying $VERIFIED on the free market.
Reporting Safe or Scam addresses will by default give the reporter one (1) $VERIFIED token, however, if that reporter is confident in their conviction, they can attach a monetary value to their submission. This will linearly increase the number of $VERIFIED they will receive.
More information is available on our official blog: StakeWarriors – Medium
Team
Robert B.- Lead Developer, SAFe Certified, Certified Associate of Project Management, 10 years experience as a full-stack developer, with emphasis on Frontends and APIs. Developed several smart contracts and their associated DApps.
Joey G.- Marketing and Consultant for cryptocurrencies.
Peter L.- Accountant and Financial Adviser. Expert consultant within the NFT marketplace.
Proposal ask
$50,000
Justification
The ERC-20 Token will not require a liquidity pool, due to the Proof of Peer Review minting algorithm. The investment will instead be used to incentivize contract developers with integrating their projects with CrowdSafe. This will be used to determine both the creditworthiness of the contract and their users, as well as grow the user-base of CrowdSafe.
Metrics for success
Our initial milestones are to:
- Grow to have 10 Smart Contracts integrate with CrowdSafe,
- Gain 100 Active Reviewers,
- Gain 5000 registered users
- Ranked within CoinMarketCap
External links
Twitter: https://twitter.com/StakeWarriors
CrowdWatch: CrowdWatch - CrowdSafe registrar
CreditScore: https://stakewarriors.app/card/?a=0x843E074B738b0f7f35Da89F35c2292760F882fe6
CrowdSafeV2: Matic/Polygon: 0x28B97a68D53cfBEa6313b588255af4F53a0A7754