Project Goal: Stkrs is the social identity app for Web 3.0. Through Soulbound NFTs, or “STKRS”, users can express themselves, trust others online, and revolutionize our governance, all while being anon and maintaining privacy.
Project Info: Vitalik Buterin wrote a paper a few weeks about a concept he dubbed Soul Bound Tokens, and we were inspired by the impact the concept could have and immediately started iterating. We believe there’s a lot of problems facing the industry today, with lack of trust online being the biggest cause. We want to solve this problem, and through the presentation we talk about how our product solves the issue of trust, improving the whole Web 3 experience along the way.
With STKRS, each user is granted a “stkr wall” upon signup, where they can showcase NFTs in the form of “stkrs” that highlight their professional experience, communities they’re a part of, or fun activities that they like to engage in. “stkrs” are minted by organizations which get approved for stkr minting by the stkr DAO, verifying that organizations issuing stkrs are legitimate.
Comment Functionality (only if you share a STKR)
Short-term, we plan to clean up the backend, patch up potential security vulnerabilities, and start talking to organizations to see if issuing stkrs interests them. We also need to set up a DAO and a clear pipeline for organizations to issue stkrs. We’re really passionate about this project, and really want to see the product in the hands of real users and organizations.
In the grand scheme of things, we believe that there is immense potential with STKRS. From uncollateralized loans to job applications, there are many ways in which STKRS can be used that we haven’t explored as much and could change the way we use and interact with services we’ve taken for granted for so long. For example, currently, there is no way to take an uncollateralized loan in DeFi, limiting the potential of borrowing significantly. However, if we can start “verifying” identities through stkr walls (you would be more likely to loan to someone with a job, or maybe someone with a college degree), we can start small scale lending and as loan history is recorded through our app, bigger and bigger loans can be issued. What this means is we can eventually have a system to reliably gauge users’ trustworthiness, recording positive and negative behaviors (creating a new stkrs wallet would mean starting your identity all over from scratch).