Introduction

In today's context where Web3 projects are thriving, the reputation of projects and KOLs is often challenging to quantify and relatively subjective. Since the emergence of Info platforms led by Kaito and RootData, users have begun to regard the Yaps of KOLs and the proportion of projects in Kaito's voting leaderboard and Pre-TGE heat rankings as the basis for judging project quality.

This article introduces Ethos, known as the "mirror on the chain," providing a decentralized reputation mechanism and scoring system. I will detail Ethos's scoring mechanism, guarantee rules, and how to participate in Ethos, helping readers navigate their research road in Web3 more efficiently.

InfoFi and on-chain reputation mechanisms

Info platforms are widely used in the Web2 industry, such as the rating of Google Maps, mutual ratings between Uber drivers and passengers, or Amazon shopping store reviews. These ratings are quantifiable credibility assessment indicators that allow users to directly and transparently understand the quality of a project.

In Web3, there are very few quantifiable rating standards. We often see subjective reviews from a few bloggers and news media, and readers can only passively accept the information, gradually being trapped in an information cocoon.

Ethos brings the Web2 rating mechanism on-chain, establishing a set of rules and mechanisms that use rewards and punishments to expose the true nature of on-chain projects and KOL bloggers, achieving transparent ratings through on-chain records.

What is Ethos?

Ethos is a decentralized reputation scoring platform based on the Base blockchain, using open protocols and on-chain records. It incentivizes ethical behavior through social proof, such as user mutual scoring, staking guarantees, and social rewards and punishments to create a reputation scoring mechanism.

Ethos aims to transform subjective feelings into quantifiable scoring standards, addressing the trust issues in the Web3 ecosystem, recording users' on-chain interactions, evaluations, and social records on-chain, forming a transparent database.

Ethos is currently launched to the market as a Chrome browser extension. After installation, users can earn 100 contribution points for daily use. After logging in to the Ethos official website, users can check the reputation scores of various X accounts and further comment, guarantee, and perform other operations to earn a higher personal reputation rating and rewards!

Ethos Chrome plugin installation

Ehtos financing team background

Ethos currently has limited information about its development team. Its CEO is Serpin Taxt, who is keen to build an on-chain reputation system, believing that real user data is more important than anything else. He has previously stated a desire to acquire the Moonbirds project.

Ethos has also not disclosed its financing information. According to RootData, its investors include individuals like Dingaling, Zeneca, and Bharat Krymo, but the specific financing amount has not been disclosed.

Ethos on-chain reputation evaluation

Invitation system

Currently, joining Ethos is by invitation only, and invitation codes are scarce. You can check the link below to see which accounts currently have invitation codes. The reputation scores of the inviter and invitee will be related; inviting high-scoring users will also boost your score, and vice versa for low-scoring ones.

Invite code inquiry: https://app.ethos.network/directory

Reputation score

Ethos will display the reputation scores of various public X accounts as shown in the image below. This algorithm established a Web3 reputation system at the launch of the mainnet, driven by public interactions and account creation duration.

Everyone starts with a score of 1200 points, but my X has only 1150 points due to a shorter account creation time. The algorithm will continue to update in the future, and scores will change based on user-submitted mutual comments and invitations.

Comment system

Ethos users can write comments for each other. The comment mechanism is the core of Ethos's reputation calculation, where users comment based on negative, neutral, and positive standards. The comments include titles, content, and emotional tendencies. These comments will be publicly displayed and recorded on-chain to help users determine who is trustworthy.

Guarantee and incentive system

Ethos has a staking guarantee system similar to POS, where users can stake $ETH for others' Ethos guarantees. The more you stake, the higher your trust in them, and it can also enhance the guaranteed party's reputation score, a more advanced trust method compared to comments.

Note that guaranteed parties must have at least one comment from others to be guaranteed. The number of guarantees does not differentiate between one person using 100 $ETH or 100 people using 1 $ETH for guarantees; having one strong supporter is equivalent to a large group of weaker supporters.

Ethos provides an incentive mechanism for the guaranteed parties:

  • When others guarantee for you, they can earn 1% of the guarantee amount as a reward, meaning the guarantor must also pay this 1% as a guarantee fee.

  • Guarantors can receive a subsequent reward of 4% from other guarantors' guarantee amounts, but the limit is their own guarantee amount.

Punishment mechanism

Ethos has a whistleblowing "reduction" mechanism where users can act as whistleblowers and provide rewards to accuse others of unethical behavior or misconduct. After reporting, community voting will be initiated; users with good reputation scores can participate in voting to decide whether the accusation against the accused is valid, and voters can receive rewards from the whistleblower.

If the "reduction" is established, the reputation points of the accused will be reduced, and a portion of their staked $ETH will be deducted and given to the whistleblower, with a maximum of 10% of the accused's staked amount. Additionally, there will be a three-day grace period after the "reduction" is successfully established to avoid malicious reporting.

Conclusion: On-chain reputation mutual evaluation system, a new way to research and review!

Ethos creates a new mechanism for on-chain mutual evaluation, bringing a new credibility trust model for Web3 KOLs and projects through rewards and punishments. I believe this may become a filtering system for users before using a project or observing a blogger, further increasing trust in the research and review process.

Major projects must do: Axiom

Axiom is an on-chain DeFi platform that has risen rapidly on Solana in recent weeks, integrating popular Memecoin chain scanning transactions, perpetual contracts, and deposit financial management functions. With the recent surge of $RFC golden dogs, Axiom has also been valued by on-chain players.

Axiom has not yet disclosed its financing information and is supported by Y Combinator, which has incubated top projects like OpenSea and Infinite. The Axiom team is led by Henry Zhang and Preston E., who are former core members of TikTok, ensuring Axiom's security through a real-name established team.

As an on-chain DeFi platform, Axiom's founders have not indicated that they will issue tokens. I noticed Axiom quickly topping the charts when I voted on Kaito's leaderboard.

After actual use, I found that Axiom's transaction fluency, interface design, chain scanning utility, and diverse financial features have reached levels comparable to current major players like Gmgn and BullX in the Memecoin space, even being referred to as "the emerging dark horse threatening Gmgn's leadership."

Axiom integrates Memecoin, contracts, chain scanning, and financial returns, meeting all user needs for various on-chain functions. The advantages of Axiom are not just empty words; you can check recent trading volumes on major trading platforms in Solana on Dune, where Axiom stands out with a weekly average trading volume of $110 million, proving the platform's strengths.

For more details on Axiom's features, you can refer to @ouyoung11's tweet, which provides a detailed introduction to the practical features of Axiom regarding chain scanning and Memecoin trading.

In addition to the practical functions mentioned above, Axiom has also launched a points system, which can upgrade and reduce transaction fees, and there is potential for future airdrops. Below, I will explain how to interact with Axiom.

Axiom interaction process:

1. Register for Axiom

Register for Axiom using your Solana wallet and keep your wallet seed phrase safe.

2. Deposit assets: Click on the homepage Deposit to deposit Solana for trading use.

3. Memecoin trading & chain scanning features

As shown in the image below, Axiom has a clean chain scanning page. Discover will display popular meme coins, and you can use the Pulse page to set parameters to filter chain scans and set up a Tracker to monitor X accounts.

4. Contract features

Axiom integrates the contract section of Hyperliquid Dex, launching contract tokens supported by Hyperliquid, with good liquidity depth, and can accumulate points with exchanges like Backpack or Lighter.

5. Yield deposits

Currently, Axiom only supports deposit yields in $USDC, which have lower annual yields, but you can freely swap $SOL and $USDC within the platform. If you have idle funds that you don't want to transfer, you can convert them into stablecoins for deposits here.

6. Reward points

Axiom's points upgrading system allows users to earn points through inviting users or transaction volume and interaction frequency. After upgrading, you can receive reduced transaction fees and potentially ambush Axiom airdrops!

BitcoinOS is a scalable Bitcoin smart contract layer that allows developers to construct Rollups and Dapps within the Bitcoin ecosystem. The goal is to bring Ethereum-like smart contract functionality to Bitcoin while preserving its inherent security characteristics.

BitcoinOS adopts ZK proof technology to achieve efficient computing and can support programmable tokens, widely supporting customized staking, governance, and issuance projects, increasing cross-chain interoperability. Many Bitcoin L2s currently adopt its technology.

The core development team of BitcoinOS consists of technical experts from projects like Sovrny and EVMosv. Although BitcoinOS has not disclosed financing information, it is positioned as an open-source public welfare project based on official data, with initial development funding and technology supported by teams related to Sovrny and EVMosv, rich entrepreneurial experience and technological depth provide a solid foundation for BitcoinOS.

BitcoinOS had not previously announced any token airdrop plans or official point airdrop activities to participate in. However, at the beginning of this month, BitcoinOS and OKX Wallet jointly launched Cryptopedia's 32nd phase activity, providing a total of $780,000 worth of airdrops to participants, which is the richest reward in history. Below are the participation steps for this season.

OKX Cryptopedia 32nd phase tasks

This season's tasks focus on BitcoinOS, divided into 4 parts, with the event running from 4/9 to 5/7, providing a total of $780,000 worth of $BOS, $BOOM, and $USDC token airdrops!

1. BitcoinOS social tasks

Complete the task of following BitcoinOS's official social media, the founder's social media, and subscribing to their YouTube channel. This section consists of simple social tasks for multiple participants, sharing airdrops of $BOS worth $425,000.

2. BitcoinOS testnet tasks

Receive BitcoinOS $BOS test tokens, wait about 5 minutes for them to arrive, and conduct cross-chain testing with $tBTC. Remember to reserve a bit for transaction fees. This task has the fewest participants, sharing 325,000 equivalent $BOS, so don't miss out on this high cost-performance opportunity!

3. BIMA social tasks

Join BIMA Discord to share $20,000 $BOOM.

4. Zenchain social tasks

Follow Zenchain X and join Discord to share a total of $10,000 $USDC.

Emerging project ambush: LoopScale

LoopScale is a modular lending protocol running on the Solana chain, focusing on the development of the DeFi field. LoopScale adopts an emerging order book, and the platform matches both parties, allowing users to flexibly collateralize various assets within the platform, providing a more efficient and secure lending experience.

LoopScale adopts isolated collateral and flexible market design to ensure that each loan is matched independently, avoiding risks of system failure or attacks. LoopScale leverages Solana's low costs and high throughput to effectively solve the current bottlenecks in lending within the ecosystem, likely becoming the next big DeFi player.

In its early establishment phase in 2021, LoopScale received financing from several well-known investment institutions, including CoinBase Ventures, Solana Foundation, and Jump Capital, totaling $4.25 million. The founders Mary and Luke are both Duke University graduates with rich entrepreneurial experience and industry technology, laying a solid foundation for LoopScale.

LoopScale just concluded the first phase of its testing on 4/10 and has now begun to open to the public. Just a few days after the opening, the staking limit is approaching. LoopScale has also launched a points system this season, allowing users to accumulate points through social tasks and deposits. I suggest you ambush quickly before the Vaults are filled!

LoopScale interaction process

1. Link to LoopScale: http://loop.sl/i/XCNit

Enter LoopScale to link your Solana wallet.

2. Social tasks

On the Points page, complete the X and Discord points tasks in the lower left corner, track LoopScale X, and join LoopScale Discord.

3. Participate in LoopScale limited staking

On the Lend, Loop, and Borrow pages, you can lend out assets such as $SOL and $USDC, setting interest rates for withdrawal at will. You can also earn high annualized returns by depositing into Loops liquidity pools, accumulating Points through these operations.

4. Deposit strategy

I used the $JLP/$USDC liquidity pool, which can utilize up to 10x leverage, with an annualized yield of up to 362%. However, to avoid liquidation, use leverage under 3x, earning about 10,000 points daily.

Financing potential projects: Theoriq

Theoriq is a decentralized AI Agent foundational layer, focusing on providing composable and modular AI Agent services for the Web3 environment. Theoriq supports cross-framework AI collaboration, overcoming the island effect of traditional AI Agents, aiming to facilitate machine learning and complex data computation, integrating data sources, AI models, and infrastructure through its technology, widely applied in DeFi, Gamefi, and SocialFi fields.

Kaito shone brightly in last week's Aiwayfinder airdrop, attracting many airdrop users to pay more attention to its leaderboard. The rise of Theoriq, the newcomer following Aiwayfinder, claims to provide airdrops of 3 million tokens to Kaito Yapper, rapidly climbing to the top spots after being listed, garnering significant attention.

To date, Theoriq has accumulated $10.2 million in financing, initially leading a $4 million seed round financing in September 2022 by its parent company ChainML Labs and IOSG Ventures; and in May 2024, a seed round expansion financing led by big-name venture capital Hack VC and HTX Ventures, raising $6.2 million. This financing is still only part of the seed round, and we can expect higher financing scales in the future!

Theoriq's current interactions can be done through the following methods, which I have listed below:

1. Participate in Theoriq testnet

Theoriq has just opened the second season of its testnet, and currently, only social tasks can be participated in. Completing the Discord and X tasks in the task page as shown in the image below will earn you 200 points, and inviting each user can earn an additional 5 points. These points can be redeemed for future Theoriq airdrops.

2. Develop AI Agents

Those capable of coding in JavaScript or Python can register for Infinity Hub to develop AI Agents and submit them to Theoriq, where a portion of the token distribution is expected to be exclusive airdrop rewards for developers.

3. Apply for MOD ambassador

Through this Theoriq ambassador application form, submit your social skills and enthusiasm to apply to join Theoriq ambassadors to contribute to the community. Many projects give large airdrops to ambassadors and MODs, making this the best channel for ordinary people to get rich through airdrops.

4. Social contributions

Theoriq has made it clear that it will distribute 3 million tokens to Kaito Yapper, indicating that Theoriq will account for users' social contributions and votes linked to their X accounts. It is advised to promote Theoriq on X while interacting, as zero-cost social airdrop effectiveness is maximized. Don't miss out, Yapper!

Airdrop fortune inquiry

1. $KERNEL

https://kerneldao.com/airdrop-checker/?utm_source=social

Kerenl is a re-staking protocol on Ethereum, with a TVL that once reached $2 billion, offering support for over 10 EVM blockchains including ETH and BSC. Its ecosystem includes products like Kernel, Kelp LRT, and Gain.

Kerenl's first season airdrop will end in December 2024, and $KERNEL was launched on 4/14 of this year, with 10% of the total amount airdropped to first-season airdrop stakers. Users in the top 1% of airdrop points can only claim 70% of the airdrop at TGE, while the remaining 30% must be resolved over three months. Future second and third season airdrops will give 5% $KERNEL airdrops.

2. $FHE

https://agent.mindnetwork.xyz/airdrop

Mind Network is a network based on homomorphic encryption, focusing on data security and privacy solutions, aiming to provide decentralized privacy computing infrastructure, especially for AI and cybersecurity applications. Mind Network raised $12.5 million led by Binance and has held multiple testnet events from late 2023 to early 2024.

Mind Network launched its mainnet this month and opened $FHE airdrop claims on 4/10, providing airdrops to testnet participants, $vFHE stakers, CitizenZ Passport NFT holders, and users with over 600 points on Galxe. $FHE also launched a TGE event on Binance Wallet, but the price performance after listing was poor, with a market cap of about $20 million.

3. $BABY

https://airdrop.babylon.foundation/checker

Babylon is a Bitcoin staking infrastructure, born to focus on the above issues as a self-custody staking protocol. Babylon is currently providing economic security for multiple POS chains and has accumulated $4.5 billion in TVL, with nearly 56K $BTC locked within.

Babylon released the $BABY airdrop on 4/10, airdropping 6% of the total token supply to early stakers and NFT holders. $BABY experienced poor price performance upon opening, and many users reported that the airdrop NFT was unsatisfactory, with BTC staking conversion yields only at 0.6%. However, subsequent news of plans to list on Binance boosted the price to a high of $0.15.

This report is for informational sharing only and does not constitute any form of investment advice or decision-making basis. The data, analysis, and views quoted in the text are based on the author's research and public sources, which may contain uncertainties or changes at any time. Readers should make prudent investment judgments based on their circumstances and risk tolerance. For further guidance, it is recommended to seek professional advice.