Introducing Passport Protocol

An open analytics framework that enables protocols to create new incentive models

The Problem

Crypto is a 24/7 battle royale where protocols are competing for users, attention, and liquidity. Today, incentive programs and growth strategies have become a critical component to bootstrapping early momentum for projects. It would be hard to imagine what crypto would look like without yield farming, memes, and airdrops.

Ever since Compound launched their governance token to kick off Defi Summer, protocols have been searching for the best methods for growing users and liquidity. Teams must balance the cost in token incentives needed to attract a user and that user’s TVL or volume contributed over a period of time.

Today, most teams build their own token incentive mechanisms as an afterthought, typically overpaying for users in the near term and not leaving enough incentives in the long term. Unfortunately, protocols have limited ability to distinguish good behaviors and to reward their most valuable users.

Passport Protocol 🔮

Passport Protocol is an open analytics framework that empowers protocols to create new incentive models by allowing developers to:

• 🛠 Create and share custom data primitives
• 🎨 Iterate on smart contract logic
• 👀 Differentiate from competitors
• ⭐️ Truly put community first by identifying and rewarding their best users

Each of the 11 starting Passport data primitives is fully composable, allowing teams to combine the most fundamental primitives to build new dimensions of on-chain reputation. The custom scoring and boosts that protocols build for themselves can in turn be shared and leveraged by other protocols.

For example, a protocol can boost rewards for loyal wallets that have held a certain NFT for a period of time while also staking the governance token. Other protocols can then borrow that boost to use in separate incentive mechanisms.

Long Term Vision

Our vision is to widen the possibilities in Web 3 with data, enabling teams to create and implement novel incentive models.

By offering open analytics infrastructure to all protocols, Passport contributes to a healthier ecosystem with greater aligned incentives for builders. Teams can collaborate on data primitives to bring communities together for positive-sum benefits. Teams will be able to build incentive models that serve to reward their most valuable supporters. Passport Protocol empowers healthy cooperation between builders and users to grow the value of the ecosystem as a whole.

How to use Passport

Passport data primitives are ready for users to experiment with them. Please refer to the docs here to learn more about how to start leveraging Passport for your protocol. Ping our team in the telegram to join the Passport Closed Alpha.

Keep in Touch!

Follow Passport on Twitter and Medium to keep up with our travel plans. Also, feel free to join our Telegram to learn more about how to integrate your project with Passport!