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- On April 3, the Shiba Inu development team unveiled the Karma reputation system on Shibarium’s testnet, Puppynet.
- The Karma system not only rewards user engagement but also quantifies contributions and lays the groundwork for a more decentralized governance model.
Shiba Inu developers recently brought Karma reputation system to Puppynet, Shibarium’s test network, within a broader drive to enhance the level of engagement between users and establish trust as a community. The new system tracks and rewards user activity across the Shiba Inu ecosystem from the smart contracts, namely KarmaLogic and KarmaStorage, in order to award points based on users’ activities.
The result is a gamified experience, similar to earning experience points (XP) in video games. Kaal Dhairya, a developer in the Shiba Inu network, described Karma as functioning like an XP system, stating that it will be used throughout the ecosystem in combination with Reputation and Aura to build trust. However, he also added that Karma scores and levels remain beta and up to revision.
Another central aspect of Karma’s functionality is its use of Decentralized Identifiers (DIDs), which not only enables individuals to remain in control over their personal information but also enables the system to account for, track, and adequately reward people for their contributions.
How to Earn Karma Points
As reported by CNF in early April, users can earn Karma points through a variety of activities. This includes burning SHIB tokens and providing liquidity of over $1,500, which each earn a substantial 1,500 points, purchasing land in SHIB: The Metaverse grants 1,000 points, staking tokens adds 500 points, contributing SHIB/LEASH liquidity to ShibaSwap earns 200 points, minting Shib Magazine NFT covers brings in 100 points, and bridging assets on Shibarium provides 32 points.
The Karma hierarchy favors user contributions with increasing voting power and advantages. The starting levels, Pup with 10 to 50 points and Young Mutt with 50 to 100 points, give a standard x1.0 voting power. The more points the users gain, the higher they go in Graduated Shiba with 100 to 500 points and x1.2 voting strength, Shib Apprentice with 500 to 1,000 points and x1.4, Aspiring Grandshiba with 1,000 to 5,000 points. The top level is the Dogo Master for users with over 10,000 points, x2.0 voting power, 20 proposals, and 50 drafts.
According to The Shib Magazine, the Karma system benefits the Shiba Inu community by promoting active participation beyond holding LEASH, BONE, TREAT, and SHIB. It fosters ecosystem growth, creates a positive and cooperative environment, and enhances community influence. Additionally, it helps facilitate liquidity and transaction volume while rewarding significant and sustained participation.
On the other hand, Shiba Inu has experienced a decline in its trading volume, which has dropped by nearly 17.37% to $149 million over the past 24 hours. Currently, the token trades at $0.00001198, reflecting a 3.54% decrease in the last day.
