The True Identity Program (TheTip), Season 1 - A new era for digital identities

Let’s start 2024 with a bang! We’re thrilled to announce the beginning of our new campaign “The True Identity Program”, #TheTIP and today is day one!

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We’ve been busy building over the last year and kept our heads low with the bears during this chilly period. Now that the sun is rising and the bulls have started to come out of hibernation, we wanted to thank our dedicated community that has stuck by us since day one.

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Total Prize Pool Allocated: 30m ShareToken (SHR).

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The release of this program is a sign of appreciation to our users, as well as a pathway forward for the ShareRing community, ShareToken, and the wider digital identity ecosystem. Whether you are an existing staker and token holder, or new to the ecosystem, there is something for everyone - users and businesses. 

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Season 1 of this program will contain 5 phases, with different tasks that can be completed to earn ShareToken (SHR) rewards. Today, we announce that Phase 1 is live.

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Official Links:

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Official Campaign Page: https://sharering.network/the-true-identity-program

Discord: discord.gg/sharering

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Phase 1 - The Snapshot

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A total allocation of 6,900,000 SHR will be allocated for Phase 1. 

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ShareToken (SHR) is the native token to ShareLedger, and the identity token that underpins all functions and features across the ShareRing ecosystem. The first round of snapshots have already been taken, and over the next two weeks new and existing users can participate in the following tasks to ensure that they are considered for Phase 1.

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• Stake $SHR on ShareLedger
• Create a verified digital ID in the ShareRing Pro app
• Add verified credentials to your digital ID in the ShareRing Pro app
• Mint your Avatar PFP NFTs in the ShareRing Pro app

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Scroll down for how to guides**

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A hint, even if you have already staked, additional stakes will be considered for the next snapshot. Number of transactions may also be counted. 

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Once the final snapshot is taken, eligibility will be announced and users will receive their rewards 2 weeks post-closing of Snapshot. There is no need to submit your wallet address for Phase 1, as rewards will be automatically calculated and sent to your address.

Instructions

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Here are some step by step guides to help you get started

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• Download the ShareRing Pro app (iOS/Android)
• Setting up your basic account
• Create a verified digital ID
• Adding verified credentials to your digital ID
• Bridging ShareToken via the ShareRing Pro app
• Staking ShareToken via the ShareRing Pro app

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The lore of ShareRing’s digital identities

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The launch of this program pays tribute to the core values underpinning digital identities: standardization, trust, and utility. 

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Different tech ecosystems support different asset standards, whether it’s digital assets, images, files etc. In order for the digital ID sector to flourish, standardization on digitized ID assets must be prioritized in order to maximise support and utility of one’s ID. At ShareRing, our off-chain IDs follow the verifiable credential standard (W3C), and on-chain IDs are minted as Soulbound Tokens (CW721).

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Verifying whether someone is who they claim to be online is challenging and complex, and requires a high degree of counterparty risk. To create a more confident stream of digital interactions, we ensure that user’s and their identity are trustworthy before they are digitized. We tackle this through our own in-house institutional grade verification technology - a user cannot create a verified identity unless their information passes a series of verification checks.

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Digital IDs, be it across retail, businesses, or even government agencies, are becoming more widely adopted. In order for day-to-day users to maximise their benefits and actual utilization of their ID, they must establish a credible digital version of themselves with ShareRing. Our design makes it easy for users to utilise their digital IDs with conventional businesses, or web3 protocols and ensures that interoperability is maximised across all touchpoints.

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Here are some articles for those who want to dive deeper into digital identities and Sharering

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• Opinion piece: Exploring the Evolution of Self-Sovereign Identities in the Web3 Landscape
• An overview of ShareRing’s Hybrid digital identity design
• The user credibility assigned to digital identities created via ShareRing

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Head over to our discord to learn more about #TheTIP and join the conversation!