As an important component of WEB3, the rise of DAO is beyond doubt.
What is Rabbithole? Rabbit Hole This stalk comes from the British fairy tale Alice's Adventures in Wonderland, which tells the story of a little girl named Alice who accidentally fell into the rabbit in order to chase a talking rabbit with a pocket watch. The cave, thus entering a magical country and experiencing a series of fantasy adventure stories.
WEB3's Rabbithole is a platform that rewards you with tokens based on on-chain performance by learning how to use dAPPs, giving you constant motivation to explore different types of projects in the WEB3 ecosystem.
On Rabbithole, users learn on-chain governance, token swapping, lending, and how to manage crypto assets, among other essential survival skills in Web3, by using more common blockchain projects (e.g. Uniswap, Sushiswap, Opensea, etc.).
Rabbithole divides decentralized applications into many types of tasks, allowing users to quickly become familiar with the main functions of a dAPP while advancing the use of that dAPP.
As a gateway to the crypto world, Rabbithole addresses a growing pain point in the industry today.
There is no structured education system for the rest of the project, and WEB2 users are always turned off by the "high bar". They may talk about WEB3 and the meta-universe, the Tesla and DOGE story, the record high NFT artworks, but they never get involved themselves. They may have talked about WEB3 and the metaverse, Tesla and DOGE, the record-breaking NFT art, but never got involved themselves.
These people may not understand the difference between different master networks, the huge role of cross-link bridges and L2s, the fundamental differences between NFTs and ordinary electronic images, and the logic and composition of DAOs, not to mention DeFi.
In this situation, how can WEB3 gain a long development? A large enough number of users is the most important foundation.
Rabbithole, which uses Learn-to-earn, gives a new solution.
Learn-to-earn is a new educational model in which a person is actually paid for proving that they have learned something, rather than paying to learn.
When the skills, knowledge or information one learns adds value to a network and that network is willing to fund the learning, the cost of learning is covered by the expected benefits and an average person is able to quickly become a WEB3 resident.
Practice makes perfect.
2. How to use Rabbithole Go to the official website Rabbithole and select "Use Rabbithole", use a WEB3 wallet (such as Metamask) to connect to Rabbithole, then the first thing we have to do is Get the skills and only after that can we pick up the appropriate quests.
Currently, Rabbithole has six skills that can be acquired.
Protocol Politician Token Swapping Identity Pro Lending BrightID Asset Management
Each skill has a different number of tasks and requirements. As ETH is known to be "expensive", when doing skill tasks, you can give preference to items that are not on the main ETH network, and it is better to do them all. Once the skill is completed, you will be rewarded with XP of experience, and the user will level up after the experience is reached, with each level requiring increasing XP.
Perhaps in the near future, certain projects will give preferential treatment to Rabbithole's high-ranking users when doing events and sending out whitelists, in addition to the usual traditional social account requirements and verification.
Once the skills are successfully acquired, you can start doing tasks. Of course, the tasks are not distributed every day, so keep an eye on the official news.
3. Learn to Eran New Model Why do we need Rabbithole?
On Rabbithole, the crypto protocol pays for tasks that incentivize users to complete specific actions on the chain. When users complete these actions, they receive a reward from the protocol.
While bounty hunters usually contribute to building the protocol, these on-chain actions are often associated with participation in the protocol.
This new positive-sum interaction helps all parties to.
Users learn new skills or methods to use the crypto industry and earn passes for them Crypto protocols gain knowledgeable new users Rabbithole receives a percentage of the revenue to facilitate the interaction This new model is similar to Google sharing a portion of their advertising revenue to learn about a new product, or paying your university because you've strengthened their alumni network. In both cases, value is being provided to the network without being rewarded, but now, you can.
Since launch, Rabbithole has distributed over $750,000 in rewards paid by some of the biggest crypto protocols (like Uniswap, Aave, Compound, The Graph, Pool Together, and Polygon).
While the current scale is still tiny, the potential to earn rewards through learning is huge when you consider the revenue generated from education and advertising that users are not currently earning.
4. Freelancers and DAOs Beyond this, Rabbithole also provides a new environment for freelancers in the WEB3 world, providing an important boost to the accelerating rise of DAO organizations.
In WEB2, social business was dominated by corporations, which were formed by people under the law, each contributing their skills, time and energy to work together for the development of the corporation, but individual and collective goals sometimes did not coincide, and many people did not like the constrained work environment.
That's why a crowd-sourced task platform was created. The demand side posts tasks and individuals or teams with skills take them and earn rewards. Such platforms also have various constraints, such as the evaluation of the results at the time of delivery, the payment of rewards, and the risk of the platform itself.
Now, Rabbithole shows us a possibility: no need to reveal your privacy, no need to communicate with the demand side, proof of skills with tamper-evident information on the chain, and no need to meet the "colorful black" requirement of the boss to rate the results of task delivery. ", the payment of rewards is automatically settled by means of smart contract on-chain transfer.
The residents of WEB3 - free people - have on-chain information proving skills in the world of blockchain, contributing skills and learning according to their interests and preferences, and a large number of projects can reach the desired goal by posting tasks without having to look for traditional institutions.
For DAO, which itself has limitations, posting tasks to accomplish goals such as graphic design, software development and even project investment, combined with a prophecy machine, delivery determination through community voting, and automatic transfer of task rewards to the corresponding address upon completion.
Imagine different DAOs, large and small, collaborating with each other, "free agents" constantly learning, acquiring skills, taking tasks, getting rewards, and at the same time participating in different DAOs. all aspects of the real world and the digital world become more sophisticated, and blockchain provides the foundation and mutual trust for all this.
A new business model leaps to mind. In the real world, we are all natural beings, while in WEB3, everyone is free.
Admittedly, the DAO has only just begun, and Rabbithole is a far cry from the scale and sophistication of the large task platforms in WEB2, but the possibilities are compelling enough.