Launchpool Spaces Recap — Decentric
Launchpool x Decentric x BlockStart Spaces Summary
Place: https://x.com/i/spaces/1MnxnDRbpgBGO/peek
Date & Time: Friday, July 19th, 3:00pm UTC
Guests: Decentric and BlockStart
Launchpool recently joined forces with sister launchpad Decentric and BlockStart for a Spaces session, to discuss the topic “Proof of Reputation: Your New Web3 Passport”. The Space lasted approximately 90 mins and focused on answering how to make your on-chain reputation work for you.
Below is a summary of what was discussed.
Intro
Joining in the conversation was Launchpool’s CEO, Roxana Nasoi, Decentric’s Technical Advisor Matt Larby, and Head of Research & Development at BlockStart, Omar.
Proof of Reputation: Your New Web3 Passport
Roxana: Hello and welcome to everyone joining in, this is the first Decentric Spaces we’re doing so I hope that after today your understanding of on-chain reputation and Web3 will increase. We’re very excited to introduce Decentric, which is a project focused on Proof-of-Reputation and how it ties into the Web3 world.
Today we have with us Decentric’s technical advisor Matt Larby and BlockStart’s Head of Research & Development, Omar. Let’s start it off with you Matt, can you share a little bit about yourself and Decentric
Decentric: Hi everyone, I’m Matt. I’ve been in the space since 2013 and more recently in 2021, actively building dApps and other applications. I’ve built and ran a GameFi project, which as you know requires a large infrastructure, so being a technical advisor for Decentric comes quite naturally to me.
Decentric is essentially a launchpad that takes on a new approach to token sales. With a conventional launchpad, you’d buy some of their token stake for a period of time, then you’d either enter a lottery or some other type of mechanism to win an allocation: what Decentric does is different.
With Decentric, you still have the core mechanism of buying and staking a token, but what sets it apart is that it also operates on a reputation basis. By looking at both on-chain and off-chain data, Decentric is able to build a profile for users. These on-chain ‘reputation points’ then form part of a leaderboard and the higher up you are on the leaderboard, the more frequent the opportunities or access to allocation you get.
This is attractive to both community members and project Teams, as we can define the data set and establish what sort of community member or investor a project receives. By having this kind of reputation system in place, we’re able to filter good actors, those who might add liquidity to the project for example and bad actors, those whose on-chain activity suggests they would just dump on day-one.
Roxana: That’s a really good intro Matt. Now let’s hear from BlockStart. I don’t know if the Community is familiar, but BlockStart has a bit of history with Launchpool, and Decentric with Launchpool. Back when we had a lot of Turkish marketing for Launchpool Labs and projects for Launchpool, the now CEO of BlockStart was an active supporter of Launchpool.
They are also one of the marketing agencies that has been helping us push entry into the Turkish market as well, so we are very happy to have them on board. Let’s hear from them
BlockStart: Hi everyone and thank you Roxana for introducing us. I’m Omar, Head of Research & Development at BlockStart. We are a leading blockchain agency here in Turkey, providing corporate level support for blockchain projects.
Our range of services include; full scale incubation, marketing, influencer marketing, fundraising, crowdfunding, and much more. We are quite happy to have partnered with Decentric and Launchpool as we believe the current market conditions provide an excellent opportunity to create strong long term partnerships.
Roxana: Thank you so much. We’re very happy to have partners that support us on this path. I think we can all agree that it is indeed a weird market at the moment. Hopefully, it will pick back up soon.
Allow me to do a brief introduction on Launchpool for our new listeners. Launchpool is one of the first and probably the oldest launchpad to offer guaranteed allocations of pre-public rounds. We focus primarily on Pre-Seed, Seed, Strategic and Private round sales across a wide spectrum, ranging from Gaming, DeFi; now going into A.I and infrastructure.
We don’t usually do public round sales, unless it’s an exceptional project that our investor Community deems a good fit. We’re also about to launch a new USDT pool as well, to offer people that may not have an appetite for larger allocations, the opportunity to access $25, $50 and $100 allocations.
Now for today’s topic, let’s talk about reputation, a bit more about why that matters and essentially how we can design better reputation systems. Earlier Matt touched on the different aspects of web3, can you take the floor again and share a bit more on these two items.
Decentric: So for why reputation matters, the short answer is for the trust it provides. For most systems out there, we have a whole range of different people. In traditional lending for example, you have those with insanely good credit scores and those with terrible credit scores. The credit scores itself acts as the reputation: your financial reputation
Based on this financial reputation, it may grant you access to certain types of borrowing opportunities. Likewise, for a launchpad in the web3 space, we’re seeking to clarify which actions and behaviours unlock certain types of opportunities such as pre-IDO access for example.
If you’re a DeFi project, you may want an investor that is able to provide liquidity, lending funds or stuff like that. Whereas, if you’re a gaming project, you might be looking for those users that are more active using Web3 dApps, who may regularly interact with other players and make the game more fun.
Roxana: This is relevant because it not only allows you to understand your super users, but it’s also important when doing community building marketing and launches of new products.
For me, it’s very important to understand that and actually, reputation is very hard to measure as well. So it’s not just, how does reputation play into it, but measuring reputation can be quite challenging. So in this regard, how can reputation be measured, scored, especially with the billions of on chain data queries that we have right now?
Decentric: Good question, initially you start with no data. You then onboard your first set of users, and start to look at what they’re interacting with, for example the off-chain stuff. Are they liking tweets? Are they writing content, you know, mentioning all this kind of stuff? And then you obviously move into the larger dataset which comes from the on-chain activities the individual does once they get a project’s token and if it’s beneficial for a project.
So on day one, you can look at what an individual that gets project tokens does with those tokens? Do they hodl or sell any? AI will look across all of the different user groups that we have, and we put people into different buckets. We compile the data and communicate to everyone in the form of a reputation score and those people with the highest reputation are constantly getting access to the best projects.
Roxana: Yeah. It’s a really good point. It’s very interesting with launchpads as we noticed that it’s very hard to create a competitive space where people feel like, oh, I need to work for this or I can’t just take part in the project.
When we were at Token 2049 in Dubai, back in April, we were discussing with different people in the industry, from investors, service providers, projects teams and even regular Web3 users, and they all liked the idea of having built in gamification where people would need to continue putting effort into it and time in order for them to maintain reputation.
Decentric: Yeah, exactly.
Roxana: On that end, I want to ask BlockStart, how do you guys integrate reputation in your work and your business, given that you serve clients in Wb3 and offer influencer marketing, and other types of services?
BlockStart: For BlockStart, reputation is one of our core principles. We strive for good reputation, good communication, good relationships with our partners and with our community. When it comes to the Turkish community and Turkish culture, reputation is quite important. It creates a level of trust for the people within our community.
So over the years, we have built strong relationships with our partners, which is a testament of our effort to have reputation as a principle.
Roxana: Thank you. Let’s talk a bit about who can benefit from a reputation system.
Decentic: The cool thing about Decentric is it can continuously engage with projects and continuously build up their reputation even post event. Reputation can allow the project to say to its community; we’re having an airdrop campaign that’s gonna run for 3 months after the actual IDO. Keep building your reputation guys, keep interacting with our socials, keep being active in the groups, and you’re gonna unlock extra opportunities. So in this case, both the community and project can benefit.
Roxana: Yeah, projects always look for support in terms of marketing and community building. What we’re seeing differently this time around compared to the previous cycles, is more Web3 native applications, meaning you don’t need to sign up with an email or a phone number as your identifier, but rather your wallet becomes your identifier, which means that, there’s not a big segregation like before…..
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About Launchpool
Launchpool leverages communities, knowledge, expertise, contacts and capital to provide crypto projects with the best possible start to life, maximising their chances for success in this fast moving & dynamic space.
About Decentric
Decentric is a data-centric multi-chain launchpad, incentivizing community support and responsible investing. Powered by Proof-of-Reputation
About BlockStart
BlockStart specializes in providing a full range of services for Web3 startups. This includes advanced development support, web-3 marketing, innovative funding solutions, crucial networking opportunities, Incubation and expert advisory to navigate the blockchain space successfully.
