GTC Staking on your Identity
Boost your web3 reputation by staking GTC on your identity and others!
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Last updated
Boost your web3 reputation by staking GTC on your identity and others!
Last updated
GTC Staking (Identity Staking) is a mechanism that allows you to stake GTC to boost your reputation and/or boost the reputation of other people who you trust.
When you stake GTC through Passport XYZ (see the GTC Staking Stamp), it increases your Unique Humanity Score on Passport. This mechanism helps Passport defend against Sybil attacks and is another (very effective) step in making our fraud detection efforts more robust during our Gitcoin Grants Rounds.
Once GTC has been staked, the amount will be locked until the end of the Lockup period specified during Staking. You will need to return to the GTC Staking page to reclaim your staked GTC at the end of the Lockup period.
To keep our ecosystem secure and trustworthy, we're introducing the "Slashing" mechanism. This new feature will uphold network integrity by penalizing malicious actions, thereby increasing the Cost of Forgery for a Passport. By making it more challenging for bad actors to compromise our network, we ensure a high standard of security and trust within our community.
To get started please visit the GTC Staking page.
Increase Passport Score: Staking GTC increases your Unique Humanity Score, unlocking additional benefits and opportunities within the Passport ecosystem.
Trust Signal: Staking acts as a trust signal, supporting the integrity of the web3 community by making it harder for malicious actors to create fake identities or engage in Sybil attacks.
There are two options for Staking your GTC.
Self GTC Staking: You stake GTC on yourself for a specific period of time.
Community GTC Staking: A member of the community stakes GTC on you for a period of time to verify your identity.
Credentials:
Bronze: Stake 5 GTC on yourself
Beginner staking level showcasing initial commitment and engagement with the community.
Silver: Stake 20 GTC on yourself
Intermediate staking level demonstrating a stronger involvement and contribution to the Passport XYZ network.
Gold: Stake 125 GTC on yourself
Advanced staking level reflecting a substantial commitment and leadership within the community.
Steps:
Connect Wallet: Browse to the GTC Staking page and connect your wallet.
Choose Amount: Click the “Your Stake” section, choose the amount you want to stake and the lockup period.
Authorize Contract: Initiate the first transaction to grant permission for the smart contract to access and utilize your GTC tokens. Confirm this authorization through your wallet.
Complete Staking: After authorizing, confirm the staking transaction. Follow your wallet’s instructions to finish the staking process.
Verify Stake: Once transactions are complete, your stake will appear on the dashboard under the “Your Stake” section.
Credentials:
Beginner: Stake 5 GTC on at least 1 account
Experienced: Participate in two staking actions, each involving at least 10 GTC. Options include staking on two different accounts, receiving stakes from two different accounts, or a mutual stake.
Trusted Citizen: Receive stakes from 5 unique users, each staking a minimum of 20 GTC on you.
Steps:
Connect Wallet: Browse to the GTC Staking page and connect your wallet.
Choose Amount: Click the “Stake for Others” section, input the address you want to stake on, the amount you want to stake, and the lockup period.
Authorize Contract: Initiate the first transaction to grant permission for the smart contract to access and utilize your GTC tokens. Confirm this authorization through your wallet. (Note: You may not see this approval step if you’ve already done authorization)
Complete Staking: After authorizing, confirm the staking transaction. Follow your wallet’s instructions to finish the staking process.
Verify Stake: Once transactions are complete, your stake will appear on the dashboard under the “Staked for Others” section.
You can also see Stakes on you by members of the community under the “Trust in You” section
Community GTC staking helps us build a graph of trusted humans, which helps us distinguish between good actors and Sybils. To earn the Community GTC Staking Stamp credentials, you need to stake on more people and/or have more people stake on you.
Here is an example message you can send to people you want to stake on and who you might want to stake on you: Initiating GTC Staking with your network.
For detailed answers and guidance, please visit our FAQ page.
