Wormhole3, A Decentralized Curation Platform, Launches its Beta Testing
SINGAPORE, SINGAPORE / ACCESSWIRE / October 17, 2022 / Wormhole3, a decentralized curation platform, has launched its Beta testing in the beginning of October, which enables users to curate, earn and build on the leading decentralized curation protocol.
It aims to become the social authentication between Web2 social platforms and Web3 projects that designs to record users' behavior, allowing Web3 protocol to capture users' behavioral value to form capital. Web3 projects can use cryptocurrency to reward users for curating their own projects on the Web2 platforms.
Through Wormhole3, users would receive a Web3 ID, which allows users to link their social account and content to the Steem blockchain.
In addition, Wormhole3's decentralized curation protocol makes it possible for DAOs or any Web3 project to use their tokens or NFTs to build communities. Web3 projects can create their own curation bounty pools, and the rewards are distributed through a decentralized curation algorithm based on participants' social graphs and reputation.
Users just need to link their curation behaviors on-chain, stake social assets to gain curation rights, then receive incentivized tokens through their curation behaviors. All of these are achieved by the following function.
Web3 Aggregation ID
Wormhole3 connects the Web2 platform to the Web3 protocol through its social authentication function.
Wormhole3 enables users to aggregate their Web2 identities (like Twitter) to form their Web3 IDs. The Web3 protocols can be applied to the Web2 platforms, such as Twitter. An interaction takes place on the Web2 platform like Twitter, and the value is stored on the Web3 protocol like Wormhole3.
Social Protocol
Through integration with Steem Blockchain, everyone can link their shared content on-chain through Wormhole3. For example, a user can link their Twitter account to Wormhole3, then the content they shared on Twitter could be awarded through Wormhole3. By using Steem Blockchain, users' any social media interactions can link to it and get reward for.
CommunityFi Protocol
CommunityFi Protocol combines the community feature and DeFi feature. The Web2 to Web3 bridge allows members of the Web3 project to inherit the Web2 social identity and social graph. The decentralized curation protocol supports the combination of various scenarios of the Web2 platform and Web3 protocol. Web3 projects can award tokens to their members for their social curation actions on Web2 platforms like Twitter.
For example, a Web3 project /DAO or anyone can create a curation reward pool for something they need to promote, simply put in a certain amount of Tokens, and the curation protocol will distribute tokens to the curators based on their contribution. The curation protocol evaluates the weight of curators' contributions with two main indicators: The curator's Twitter Reputation NFT and Curatorial effects (such as retweets/comments/likes from retweets).
Future Plans
After the successful launch of its Beta testing, it plans to launch a more open and composable curator reputation system in the fourth quarter of 2022, following the development of support for more Web2 platforms, such as Instagram, Reddit, Discord etc.
Based on the Web2 to Web3 social auth protocols, Wormhole3 will be able to access various CommunityFi protocols. Wormhole3 hopes to eventually develop into a CommunityFi platform.
Media Contact:
Skyler Yu
CoinPR Pro
Skyler@coinprpro.com
SOURCE: Wormhole3
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