Mande Network (Mand): An Open On-Chain Reputation System for Web3

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0x762024/06/17 09:02

By:0x76

Project Overview

Mande Network (MAND) is a RollApp on Dymension. Mande is positioning itself as an open on-chain reputation protocol on Web3. On the Mande Network, each participant has a "credibility" score associated with them, awarded by a decentralized network through a "quadratic voting" system, used to record credit scores, ratings, activities, reputations, and digital identity achievements.

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Encrypted networks built to protect user "anonymity" do not provide a foundation for users to trust each other "anonymously." While users can transact with each other through trustless blockchains, there is no decentralized foundation behind anonymous public addresses to establish trust and relationships between people. Mande Network proposes to humanize the chain by building an application ecosystem around the concept of "trust protocolization" on the Dymension RollApp.

In comparison, the MAND token, as a Rollup of DYM, currently has a market value of approximately $8 million, while DYM's FDV is about $2 billion.

Compared to Ethereum Rollups, the main Rollups on Ethereum have a market value of about $50 billion, accounting for approximately 12% of Ethereum's $420 billion market value. If we reference Ethereum, then the market value of DYM's Rollup should be around $200 million, indicating that MADN still has significant growth potential.

The MAND token aims to guide the Mande Network by providing aligned incentives for key stakeholders and contributors. The Mande Labs development team has developed several features designed to enhance the network's functionality and user experience, further solidifying Mande Network's leading position in on-chain credibility.

Token Economics

The total supply of MAND tokens is 20 million, with threefold utility within the Mande Network ecosystem:

On-chain Governance:

$MAND tokens allow holders to participate in the governance decisions of the Mande RollApp (L2) by staking managers. Managers can stake tokens to vote, propose changes, or influence the project's strategic direction. The rewards provided to managers are similar to those in DPoS (Delegated Proof of Stake) chains, incentivizing active participation and ensuring decisions align with community interests.

Network Gas Fees:

MAND tokens are used to pay transaction fees within the network, ensuring its sustainable operation. Users contribute to network maintenance and efficiency by paying Gas fees with $MAND.

Credibility Staking:

Users use $MAND tokens as "stakes" to vote on the credibility of other users, continuously evaluating and rewarding trust. By staking $MAND, users can enhance the reputation scores (CRED) of other users within the ecosystem, fostering an environment of trust and collaboration.

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10% of MAND tokens are allocated to DYM stakers

20% are allocated to the foundation, liquidity pools, and eIBC

20% are allocated to early users

20% are allocated to the team

25% are allocated to ecosystem grants

2.5% are allocated to strategic investors

2.5% are allocated to early seed round investors

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Related Links

Official Website: https://mande.network/

X: https://x.com/MandeNetwork

Block Explorer: https://dym.fyi/r/mande

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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