Demex Daily #365: Ethos Network Brings On-Chain Trust to Crypto

What’s Interesting Today:

Ethos Network is a decentralized social platform aiming to bring trust and accountability to crypto by putting reputation on-chain. Founded by Trevor Thompson and Ben Walther, it allows users to vouch for others by staking money against their credibility, creating a "proof of credibility" system with reputation scores akin to credit ratings. The platform incorporates slashing mechanisms to penalize bad actors and prevent manipulation. Currently invite-only with 1,000 users, Ethos plans to integrate zero-knowledge reviews for anonymous feedback and envisions reputation as a portable, verifiable asset across platforms. While the team has not confirmed a token launch, they are developing reward mechanisms to incentivize participation.

Ahead of Off the Grid’s GUNZ mainnet launch on Avalanche, a black market for in-game items has emerged, with players trading rare skins and GUN tokens for cash in unofficial Discord groups. Despite the game’s Web3 aspirations, restrictions on on-chain trading have driven players to over-the-counter deals, some worth thousands of dollars. While some collectors believe values will surge post-launch, risks include scams and sniping bots. Gunzilla Games plans to enable official trading by Q1 2025, but until then, demand for off-market exchanges remains strong.

Trade AVALANCHE AVAX-PERP on Demex