This page discusses some of the use cases that Litentry unlocks
Litentry's identity aggregation and privatized verifiable credentials can be useful in several situations.
Currently projects distribute airdrops to their users based on unique addresses, but not unique identities. The validation and contribution process is centralized and raises questions about transparency, token claim fees, and one-time distribution. The Litentry identity verification system allows crypto projects to identify and filter out low-quality engagement in an airdrop.
Audience Selection & Community Insights
Decentralized identities allow communities and projects to gain a better understanding of their audience and reward them for sharing their pseudonymous identity data. By requesting specific, narrowed down details about their users, projects can respect the privacy of their ideal users.
Soulbound Tokens or NFTs
The Litentry protocol allows projects and users to inject pseudonymous identity data into NFTs, dApps, and other apps in a private and secure way. An NFT can start to contain a personal "community participation score" based on various metrics of community engagement.
Web3 Native Job Markets
Anonymous or pseudonymous verifiable credentials unlock a market for talent scouting, headhunting, and user research with highly experienced community members. Due to the increased level of privacy, participants can be judged on their relevant skills instead of being discriminated based on personal characteristics.
By providing a complete and thorough picture of a user's trading history, asset values, and borrowing behavior, we can provide credit scores. This increases the eligibility for under-collaterized lending and other reputation-based benefits or provides risk insights for partners.
Litentry's identity aggregation makes it possible to transport reputation and status metrics across platforms from Web2 to Web3 and back.