Reputation DAO announcement and Platform v2 Launch
We’re becoming a DAO and have some exciting new updates!
Reputation will be transitioning to a DAO which will govern the Reputation ecosystem. Broadly, our vision is to provide credibly neutral reputation as a service for Chainlink Oracles, DAOs, smart contract protocols and their users. Reputation DAO will primarily govern the Relative Performance Ranking (RPR) score and its applications, which is touched on briefly below.
The reputation.link platform will be one of the services that Reputation DAO provides. The DAO will create different platforms and applications for reputation that will serve the open blockchain ecosystem.
Depending on how it’s built, a reputation or credit system can be an incredibly harmful or helpful tool when interfacing with financial transactions or other data driven transaction. We believe that reputation should be democratised and governed by the community. Reputation will be structuring its DAO framework in the coming weeks and will release a comprehensive roadmap for decentralising control. Medium articles will outline key details regarding the DAO and a formal white paper will be released in 2022. There are many exciting developments taking place and we will keep the community updated on our progress and our plans.
Platform V2 Launch
We are excited to announce the launch of our new Oracle Reputation V2 platform! Over the past year we have been hard at work developing the reputation.link platform. We allow DeFi users to inspect the underlying Oracle data feed security in their smart contracts. Most of our efforts have been in building a lightning fast data aggregation pipeline that can quickly stream any EVM based data. With reputation.link this gives users visibility into Oracle performance, as well as insights into specific data feeds.
Reputation is committed to enabling a new frontier in DeFi and programming reputation into the Chainlink Oracle network. Reputation.link provides smart contract applications, developers and DeFi users with never before seen transparency around Oracle security. The V2 platform has just gone live at reputation.link. The new platform delivers significantly more functionality, better backend performance, and a simpler and more intuitive UI.
Reputation is excited to share our new platform, and our roadmap ahead.
Front-end and UI
Our new UI provides a clean, intuitive way of interacting with the Reputation platform and visualising Oracle performance.
The new front page ranks Oracles based on their average deviation or their total transactions submitted. These rankings provide users insight into Oracle reliability at a glance.
We display index data feeds for a variety of popular price indexes, which link to a low level breakdown of the Oracle data supporting the index feed for each round. Users can see which Oracles are supporting a feed and inspect the round results for each Oracle. This effectively allows users to verify the data supply chain of a Chainlink data feed.
We have also added tabs in the navigation bar for Oracle, Contract, and Protocol overviews. This allows users to quickly find what they are searching for. A user who wants to verify the data supply-chain for a specific protocols price feeds doesn’t need to hunt through an entire list of price feeds when a protocol overview is readily available in the Protocols tab. This functionality will grow as more protocols integrate with Reputation.
Re-engineered backend and functionality
The new platform has been built to be faster, more fault-tolerant, and easier to scale. We’re using a new architecture that ensures resilience across the system and allows us to scale horizontally and provide a wider array of functionality, all with a lower development time.
This has allowed us to expand our broad feature set. Some examples include:
- Support for OCR contracts, which were previously difficult to integrate
- More aggregated data statistics
- Blockchain agnosticity — our platform can now integrate with essentially any chain
- Easy support for other protocols wanting to integrate into Reputation with our new Protocol Visualisation Environment (PVE) feature
Reputation now also has a free, public API which allows anyone to display backend data in their own User Interface (UI). It’s important that a neutral, non-partisan system for reputation remains open and usable for all, free from gatekeeping.
Our new backend has enabled an expansive feature-set out of the gates, but importantly, it also enables Reputation to scale future updates with minimal development time.
New feature — Protocol Visualisation Environment (PVE)
PVE enables user insight into each contracts data feed security
Protocol Visualisation Environment (PVE) is a key new feature enabled by the V2 platform update. PVE is available to DeFi protocols looking to integrate with Reputation (reach out to us here).
One of the pain points in DeFi is that many smart contracts are enabled by Oracle price and/or data feeds, which are difficult to gain visibility on. Users cannot easily discern where data is coming from.
In our new update, we have addressed this issue with PVE.
Reputation enables users to build confidence in the ecosystem by providing a clear view of the data supply chains and the Oracles which support them. This is especially important in a trustless, decentralised system.
PVE is a small widget we insert into a protocol front-end. It symbolises to users that the data feeds supporting a smart contract can be easily explored on our platform. When a user clicks the widget it redirects them to a data visualisation tool that displays the end-to-end life cycle for each data feeds supply chain. In essence we have created a human readable Etherscan.
This gives users full transparency into Oracle reports, and provides clear insights on how Oracles and Chainlink Reference Data Contracts interact with the smart contracts on a particular protocol. Users may assess the Oracles supporting their price feeds, and quickly audit their performance before trusting the contract.
We’re excited to launch this feature and think it will enable a new frontier in community trust in DeFi. The appearance of the widget alone is comforting to users, assuring them that the option to verify the data feeds is available. A user looking to verify price feeds without Reputation would typically need to spend a significant amount of time on Etherscan. We have made this a task that takes a few minutes.
We have integrated with Tracer DAO and our PVE is currently live on Tracer Perpetual Pools. We will continue to integrate with additional DeFi protocols, so keep an eye out for our upcoming announcements.
Our roadmap ahead
The Reputation team is very excited to launch the V2 platform — but we also wanted to give you some insight into what’s coming in the next few months.
Reputation has two exciting new features rolling out in the near term which will benefit DeFi users and protocols:
- Repscore — Our Reputation Score model; and
- Monitoring & Alerting.
Reputation scores give users a single, authoritative guide into an Oracles reputation
Repscore is the next feature we are looking to roll out across our platform. Repscores use our open-source Relative Performance Ranking (RPR) model to assess the performance of each Oracle and generate a ‘reputation score,’ from 1–100. This will provide a standardised metric to assess and measure Oracle performance holistically, and give users a clear way framework for evaluating Oracles.
This feature will be the next major step for Reputation and the DeFi community as it will provide a better benchmark for Oracle performance and contract security. Rating and ranking Oracles gives Oracle node operators a clear incentive to continually improve, and also provides users with more transparency. Coupled with PVE, Repscore will foster increased trust among users and promote improved security for the broader DeFi ecosystem.
The Reputation team is looking to implement Oracle Repscores onto the platform in Q1 2022. Reputation will also be releasing our RPR Repscore white paper in the coming weeks. Stay tuned for announcements.
Monitoring & Alerting
Our other key feature in the near term is Oracle Monitoring & Alerting. This feature is the logical next step to Oracle Reputation, providing users with real time alerts on each Oracle’s performance.
This feature allows protocols and users alike to monitor the Oracles supporting their contracts, providing both peace of mind as well as immediate notification in case of a fault or malfunction.
Users will be able to select in which instances they are notified and how they receive notifications. For instance, a user may ask to be notified via discord message when an Oracle does not respond in a round.
This feature is a useful feature for DeFi users who want to keep abreast of the integrity of data feeds that they are relying on.
Oracle Monitoring & Alerting gives real time updates into Oracle performance, with immediate notification in case of a fault.
Stay tuned for more!
We’re excited to announce these updates and give you an insight into our product roadmap moving forward. The platform update builds upon our V1 functionality and we will continue improving and expanding our product suite. If you have any feedback on our platform, or any thoughts on our direction moving forward, we would love to hear from you.
Reputation DAO is building a blockchain data analysis platform. Our platform collects, decodes and visualises data from several blockchain networks. Reputation uses the data to create visualisations and Reputation scores, using our RPR model.
Our first product is Oracle reputation. We monitor, visualise and rank Oracle performance on the Chainlink network.
Reputation DAO is building the future of reputation. Come and be a part of the journey.