terra

1/ One of TFL's missions is to inject real economic activity into Terra and connect Terra with off-chain economic activities. A key focus has been on marketplaces, such as exchanges or NFT marketplaces, presenting massive opportunities to improve upon traditional marketplaces outside of crypto.

2/ Marketplaces in social and Web 2.0 lock you into their platform. The more you build your business on these marketplaces, the more dependent you become. Examples include independent sellers on Amazon and labor marketplaces like Upwork and Fiverr, among others.

4/ Web3 presents an alternative to this model, offering a way to break free from these constraints. We're working on two projects aimed at this alternative: Verity and Tashkent.

5/ Tashkent is a set of tools and smart contracts deployed on Terra, enabling anyone to build decentralized marketplaces for intangible assets. This approach mirrors the Forecaster Protocol, which underpins Warpcast. However, Warpcast is merely one implementation of a social network built on Farcaster.

6/Marketplaces need one more component that’s not necessary and centralized social.   And that’s an identity and reputation solution.  Verity is that solution and a proof of contact is already been built leveraging PolygonID for ZK identity, but recording to the Terra blockchain.

7/ Those of you who were involved in Terra prior to the Depeg will remember that labor markets was something that Do was focused on, and will be the first implementation we will develop using Tashkent as the platform and verity as the reputation layer.   You have heard me talk about Enterprise Labor Market.

8/ but as we started to build it out, we realize that we had to solve reputation first and so we pivoted to Verity.   This is the background, next thread to describe Verity and how it works.

3/ Participating in these platforms means the value created is predominantly locked within them, flowing mostly to the shareholders. While you can build a reputation through reviews, it's nearly impossible to take this reputation with you elsewhere.