In 2020, the market ushered in a big bull market, and the DeFi-based infrastructure and application layer both ushered in the spring and became the starter of the bull market. In the past three years, the market infrastructure has been continuously improved, and large-scale institutions, users, and funds have begun to enter the new world of blockchain with multiple application scenarios. In 2023, the underlying infrastructure of the blockchain will usher in a major upgrade. After the merger of Ethereum 2.0, the Shanghai upgrade will start again in March. The infrastructure of the track based on Metaverse, Web3, and NFT has also undergone major upgrades. DID and soul-bound SBT have become important infrastructure for lowering the threshold for Web2 users to enter the Web3 world. The mainstream DID projects of ENS, Getaverse and Space ID have become the most popular projects in the new round of narrative and application in the encryption field, and Web3 passports are also ushering in explosive growth.

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V God's new book "Proof of Stake" NFT

Beginning in 2022, mainstream institutions began to lay out the core infrastructure for the next cycle, and DID became a battleground for all strategists. Vitalik once stated on social platforms that the digital version of the anthology "Proof of Stake" composed of 10 years of content will be published. Users who donate on Gitcoin will be able to get the first new book SBT. Up to now, more than 71,000 users have received the NFT .

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Screenshot of KuCoin Labs official announcement

On January 13, 2023, KuCoin Labs officially released an announcement: Getaverse, a decentralized reputation platform with on-chain addresses and off-chain user data based on Soul Binding Token (SBT) as the core, became the first batch of incubation projects for the incubation plan.

On May 10 this year, KuCoin had raised $150 million from investors led by Jump Crypto, bringing its valuation to $10 billion. For this reason, KuCoin has undergone a very strict audit, allowing KuCoin's operational reliability to be recognized by the institution. Since KuCoin Labs was launched in May 2018, the KuCoin investment and incubation project has brought together a group of cryptocurrency experts to conduct in-depth market research, analysis, investment, and incubation in the cryptocurrency industry. KuCoin Labs diversifies investments in early-stage projects to help project owners achieve sustainable growth and success in a decentralized world.

The DID track laid out by mainstream institutions has become the general direction of blockchain application development. In the future, this track with a market value of hundreds of billions of dollars will become a fast-growing train. Binance has launched BAB in September 2022 to build an identity on the chain. This is an identity proof that completes identity verification on Binance. The Getaverse incubated by KuCoin Labs is similar to BAB, an SBT, and it is also not available in the DID track. Missing critical infrastructure.

Multi-chain layout, Getaverse's Web3 DID reputation system service platform

Getaverse is a Web3 DID reputation system service platform developed and deployed based on multiple public chains. The purpose is to create a trusted traffic portal based on the DID credit system. With the development of Web3 and Metaverse, the credit system based on DID digital identity will become the most important traffic entrance in the virtual world. Getaverse's vision is to become the largest trusted traffic platform based on the DID reputation system in the Web3 world, enabling the full ecological application of Web3 innovative products.

Data Sources:

Data Sources:nftgo.io

This is the growth chart of users of the leading ENS domain name project on the DID track casting NFT and users holding DID. From the trend point of view, this is a gradually rising curve.

This will also bring huge opportunities to Getaverse. When a large number of users use Getaverse to enter Web3, the huge user base will enable Getaverse, a one-stop aggregation ecosystem, to gain greater influence. The value system generated by various behavioral data can be used to better improve the reputation system and generate better application scenarios. The data value system will be a relatively complete general solution in terms of social networking, unsecured lending, ecological credit system, and trust system.

Fully empowered, Getaverse's ecological value capture

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Getaverse Ecological Partners

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Getaverse IP Partners

In addition to ecological partners, Getaverse also has various high-impact and high-traffic IP partners, which greatly helped Getaverse's early cold start, and will bring more cooperation and networking resources in the future.

Getaverse trusted verification node

The operating principle of Getaverse is to provide a window to access the Web3 world on the decentralized identity system, and provide additional support and rewards for all participants who maintain this window. The Verifiable Claim Initiator initiates a verifiable claim of the user's identity after verifying that the user-specific characteristic attributes (such as gender, age, etc.) are correct. Any trusted party (validator) who needs to verify the user will receive the verifiable claim and verify its authenticity. The prerequisite for the effective operation of the identity management system is that the trusted party must establish a trusted relationship with the claim initiator.

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User purchase node interface

users can accessGetaverse Official Websiteimage description

Invite user to purchase node interface

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Node public and private key setting interface

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Getaverse node mining software download interface

Getaverse node mining software has to go to the official website MyNode page to download NodeSoftware. After downloading the mining software compression package from the official website, you need to decompress it, then select the corresponding operating system, and finally perform mining according to the operating instructions.

Getaverse Token Economy

The Getaverse token GETA has a total supply of 5 billion and its distribution is planned to incentivize delegated validators to keep Getaverse accessible and sustainable.

The distribution of GETA tokens is as follows:

Seed round: 5%

Mechanism wheel: 10%

IDO： 1.5% 

Team: 10%

Ecological Contributors: 10.5%

DAO Foundation: 8%

Trusted validator nodes: 55%

GETA Token Application Scenarios

1. Staking and Governance: GETA is used for voting and governance of Getaverse DAO. Geta users can make suggestions and vote on agreements related to the Getaverse ecology, changes in methodology, distribution of fees charged by agreements, etc. Additionally, Stakers will receive an additional 3% to 15% annual interest backed by the Getaverse DAO fund.

2. Curated datasets: Each dataset will have a revenue stream in Getaverse, and curators can buy and sell their dataset revenue rights through GETA. As the price of entitlements rises along the bonding curve, curators can also choose to sell entitlements back to the bonding curve in exchange for GETA. This provides an incentive for curators to help identify valuable datasets by using GETA to buy yield rights upfront.

3. Payment of indexing fees for data consumers: dApp developers aiming to query/index Getaverse ecological datasets will need to pay fees to GETA. The fee was set up to reward Getaverse curators, and most of the GETA will be distributed to curators who own the dataset, with the GetaverseDAO foundation collecting the rest.

4. Improve credit score: Holding GETA can help users improve their credit score in Getaverse, which can help them get priority and quota for dApp IDO, Airdrop, etc.

5. Pay the trusted validator node fee. The trusted validator node not only produces GETA, but also consumes GETA, and needs to pay GETA as a node operation fee.

6. After the GETA token is launched, users can use GETA to purchase nodes according to the GETA token price, and the GETA tokens of these purchased nodes will be permanently destroyed and will no longer circulate in the market.

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Getaverse's project roadmap

In the first quarter of this year, in addition to opening the verifier node, DAO governance will also be launched, and the reputation system based on DID and SBT, which is still being tested internally, will be launched. In the second quarter, it mainly launched the social system, carried out multi-chain layout, and increased the user base and user stickiness. The latter is about the layout of ecological applications, opening up multi-functional API interfaces, and launching more Web3 applications.

The development and direction of Getaverse is still the mainstream direction of the market. A good strategic layout will make Getaverse the navigator of the DID track, gaining a large number of users and occupying a larger market. This is also the basis of a Web3 SBT phenomenal application. The DID track is still in the relatively early era of staking, and Getaverse’s advanced layout, in addition to KuCoin Labs and high-quality partners, will also have better resources and ecological injections for future development.

related sites

Website: https://getaverses.com/

Twitter: https://twitter.com/GetaverseGlobal

Telegram: https://t.me/Getaverse_Official

Medium: https://medium.com/@GetaverseGlobal

Discord: https://discord.gg/MKe 3 YJyQ 65 

Youtube: https://www.youtube.com/@getaverse