RabbitHoleDAO: Why Decentralization Matters

Using DIDs we can fulfill RabbitHole’s core vision of creating an “on-chain meritocracy” with crypto credentials — a means of proving one’s expertise or reputation based on their on-chain activity — but the main bottleneck to this vision is the centralization of our company.

RabbitHole is already the market leader in token distribution + customer acquisition for crypto protocols. We've given out hundreds of thousands of dollars in token rewards to users all around the world while pioneering a "learn-to-earn" model which incentivizes intentional participation with crypto projects over pure speculation + "number go up" d... See more

Credentials from centralized institutions are subjective — they're only valuable because the institution issuing them is valuable. It's a reputational ponzi scheme. On the contrary, credentials from decentralized networks are more objective — they let people observe work completed without a subjective value judgement on the work itself.

we've yet to convince the public that crypto is more than just a "currency." In fact, most crypto isn't even a currency anyway — it's gas for a protocol, a utility for a specific ecosystem with no intent of ever being money.

We believe the future of work is based on one’s contribution to various organizations to which they feel most aligned. DAOs open up a new paradigm for democratic governance and mass coordination of people with similar interests and values, and as such, it’s core to our vision to be a DAO, ourselves, to help usher in this new era.

Services like BrightID and ENS let us prove we’re human + add digital identities on top of our wallets, letting us “put our mouth where our money is,” but it’s DIDs that bring the disparate parts of our online identities into one.

Though the jargon and memes of crypto twitter bring insiders together, they do virtually nothing to help new people enter the space — the same things that provide inclusivity within crypto networks maintain exclusivity outside of them.

Crypto onboarding today is inaccessible, hard to understand, and owned entirely by influencers who earn outsized benefits from new members joining the ecosystem.

As we move to a crypto-native world, we get to rethink the internet as it stands today. In creating web3, we work towards a vision of the internet as originally intended — an open web owned + operated by its users. With this vision comes the ability to have more portable online identities and community affiliations — something made possible with de... See more