The True Identity Program (TheTip), Season 1 Phase 2: The Expansion

Season 1 of #TheTIP is well underway and we just concluded Phase 1 with over 7m staked in ShareToken. There was significantly more engagement and participation than we expected, and so we increased our rewards pool size to 9.1m SHR, and revised the model so it was fairer towards active participants.

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We want to thank everyone who participated in the first initiative.

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New Release: Phase 2 - The Expansion

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A total prize pool of 12,700,000 SHR has been allocated to Phase 2: The Expansion.

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15 billion years ago the Big Bang happened and ever since, the expansion of the universe has continued. As galaxies continue to grow apart across the universe, our need to stay interconnected grows every day. As we continue to expand across the Cosmos, the need for a reputable digital ID becomes a must.

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Creating a reputable and trusted digital ID may sound simple, but one that can be reused time and time over again without losing credibility is complex. We’ve simplified this entire process and made it incredibly easy for you, your friends, family, colleagues, or anyone to do so inside the ShareRing Pro app.

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For The Expansion, refer new users to create their digital IDs using the ShareRing Pro app, and be rewarded with up to $15USD in SHR per unique referral.

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How It Works

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As a referrer:

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To participate as a referrer, you’ll need to generate your unique QR code. This is the QR code new users scan with their ShareRing Pro app. Only unique referrals joined under your QR code will be assigned to you for rewards.

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Generate your unique QR code: https://referral.sharering.network

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Once you have generated your unique QR code, you the URL to your unique  code for your referees to scan. You can also share a screen grab if you prefer.

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Eligibility

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For this second initiative, we are rewarding new and existing users of the ShareRing Pro app, and those who create their digital ID. 

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Existing Users

Refer your friends, family, colleagues, or anyone else! Simply refer new users to download the Pro app, and scan  your unique QR code. You’ll be rewarded with $10USD in $SHR for every unique new user referred.

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New users can also refer new users after they’ve successfully created their digital ID!

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Start referring here: https://referral.sharering.network

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New Users

Join #TheTIP and start your digital transformation journey with ShareRing! Once you have downloaded the ShareRing Pro app and created your digital ID, scan your referrer’s unique QR code and you’ll be rewarded with up to $10USD in SHR for joining as a new user! 

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- New users who have created a basic ID: $5USD in $SHR

- New users who have created a verified ID: $10USD in $SHR

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Once you’ve submitted your details for the reward, you can start referring other people and participate in the rewards pool for existing users! It’s $10USD in SHR per new referral.

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**Referrals will only be counted when at least a basic ID is created by the new user.**

Check your rewards

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Referrers and new users can check whether they are eligible for rewards under Phase 2 of TheTip: The Expansion.

You can check your eligibility here: https://referral.sharering.network/rewards 

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ShareToken Holders - 1.5X rewards

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If you’ve staked $350USD+ by 19 FEB 2024, your rewards will be amplified by 1.5X. The total prize pool for amplified rewards is capped at 4,000,000 SHR, and will only be active for 2 weeks (02 APR 2024). Any unclaimed rewards from this specific pool will migrate over to the original prize pool upon the end date.

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This is a first-come-first-serve basis. Once the pool runs out, new unique referrals will be taken from the main pool.

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Explaining Basic vs Verified Digital IDs

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When creating your digital ID, there are 2 choices - basic or verified. 

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A basic digital ID only contains a verified email address, and allows you to use your name and email across the internet. 

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A verified digital ID takes you through a series of steps to verify your identity, ie you are who you claim to be, and exponentially increases what information you can use and share across the internet. Your information is only ever stored inside the Vault, which is not accessible by any third party, including ShareRing. 

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‍What is Hybrid Identity?

ShareRing’s design philosophy for identities is based on values of trust, privacy, and utility. Taking this into consideration, our digital identity mechanism is based on a hybrid on-and-off chain model.

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When you create your verified digital ID, the following actions happen behind the scenes to ensure credibility on and off the blockchain.

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• Using our institutional grade verification technology, your information is verified for credibility.
• Verified information is digitized into your Vault (as a verifiable credential), and forms the off-chain part of your hybrid ID. Learn more about off-chain identities here.
• An Immutable Identity (Soulbound Token) is issued to your address and forms one part of your on-chain identity. Learn more about on-chain Immutable Identities here.
• A link between your on and off-chain identity is established, which is known as anchoring. This ensures an accurate depiction of your digital identity, on and off the blockchain.

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A lot of this is complex technology, working hard in the backend system to ensure that your digital identity is credible. For the most of your part, you will only ever be prompted with requests to share your digital ID (when interacting with 3rd parties), and:

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• With conventional businesses, you would be prompted with a choice to share your information or not
• With web3 smart contracts, you would be prompted to sign a transaction and prove ownership of your tokenized identity

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Click on the links below to learn more about:

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• Introducing Hybrid IDs
• Deep dive into on-and-off-chain reputation with tokenized IDs
• Explaining web3 identity, with Jonathon Liu - VP of Marketing at ShareRing
• An overview of ShareRing’s products with Jonathon Liu - VP of Marketing at ShareRing

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