Introducing rMETRIC: the token at the core of MetricsDAO's New Reputation System

rMETRIC gates who can participate in challenges, and rewards quality work while penalizing bad actors.

Introducing rMETRIC: the token at the core of MetricsDAO's New Reputation System

In a few weeks we will be launching the beta version of the Metrics App, which will fully decentralize and automate the creation of web3 analytics for crypto projects. At the core of the self-service app is a new and improved reputation system, which gates who can participate in challenges, and rewards quality work while penalizing bad actors.

This reputation system revolves around the rMETRIC token, which participants will receive and lose based on their engagement. Participants’ balance will therefore work as a proxy for reputation.

Gating of work streams based on token ownership sounds a lot like xMETRIC – which many of you received if you participated in  bounty programs, educational courses, or joined our  community events. Don’t worry, xMETRIC isn’t going away…yet!

What is rMETRIC?

rMETRIC is a non-transferable ERC-1155 that represents a reputation score within the MetricsDAO ecosystem. Each participant in MetricsDAO will have an rMETRIC balance that fluctuates based on their engagement. Similar to xMETRIC previously, rMETRIC will gate access to work streams reserved for high reputation actors. Through ongoing issuance and decay, reputation in MetricsDAO remains fluid.

There will be an initial conversion from xMETRIC to rMETRIC at the rate of 1:1 based on holdings at MVP launch of the Metrics App and Protocol.

The protocol will be the primary manager of rMETRIC. It can be earned by participating in and winning Brainstorming or Analytics challenges via the Metrics app and it will decay over time. This means that to keep your rMETRIC balance high, you’ll need to keep participating in MetricsDAO challenges!

In cases where a user’s reputation must be bootstrapped to give them additional access, the DAO may issue rMETRIC.

For example, Dune Wizards, Flipside Cantina, and/or MetricsDAO Academy graduates may be provided with enough rMETRIC to access certain challenges. Risks associated with minting reputation to inactive users or poor performers is mitigated by reputation decay.

Learn more about rMETRIC and reputation

Will xMETRIC still exist in Season 4?

Yes! MetricsDAO will continue to utilize xMETRIC alongside rMETRIC for Season 4, which starts with the MVP and ends with the launch of the METRIC token.

xMETRIC continues to act as an on-chain record of early participation in MetricsDAO. This includes participation in challenges, community events, partnerships, etc. Issuance of xMETRIC is primarily managed by MetricsDAO Bounty Ops and MetricsDAO Growth.

https://app.flipsidecrypto.com/dashboard/yxtiv6

What about the $METRIC token?

As a transferable ERC-20, $METRIC will operate as a facilitation token transferring value from Sponsors to Reviewers. During the beta period of the MetricsDAO protocol, the $METRIC token will NOT be issued or required to interact with the system.

Look out for more about the $METRIC token launch in Season 5!