Is Nomis Really an Anti-Sybil Tool or a Sybil Tool Itself?

The question may sound odd, but Nomis actually offers a unique solution for both Sybils and projects affected by them. Let’s dive into the details and explore how this works!

The Crypto Drop Rush

A few years ago, making a fortune in crypto was easy. Flipping NFTs, participating in ICOs, yield farming, and investing in memecoins were bringing in thousands of dollars. But as time passed, these opportunities became harder to exploit, requiring more effort and time for similar gains. Despite this, the dream of quick profits persists, particularly with the rise of the “retrodrop” narrative, which has captivated the market.

Currently, the focus in the web3 world is on major players like LayerZero, Starknet, and zkSync. Additionally, projects like Scroll, Aptos, and others without native tokens or with locked tokens are competing for attention. The concept of retrodrops isn’t new; it dates back to 2014 with the first recorded crypto airdrop by Auroracoin. Recently, this trend has gained momentum, enticing users with the hope of significant financial gains.

To maximize these opportunities, some users, known as Sybils, exploit projects promising substantial rewards. To combat this, projects have introduced measures like KYC verification, requiring users to provide IDs and passports. This adaptation phase in the crypto industry sees both users and projects evolving to keep up.

However, a segment of the crypto community, including Nomis, opposes these measures. Nomis advocates for fair reward distribution and access without invasive methods like KYC and passport verification, which contradict the web3 ethos.

Anti-Sybil Tools vs User Privacy

Efforts to counter Sybils often end up targeting regular users, since Sybils are essentially ordinary people utilizing multiple accounts. The use of KYC, IDs, and passports in web3 isn’t user-friendly. These methods pose privacy risks and involve the tedious collection of personal data, similar to doxxing through social media verification. For example, the backlash against Uniswap’s optional KYC update highlighted concerns about a potential shift toward mandatory KYC and regulatory alignment.

Even Vitalik Buterin, a prominent figure in the crypto world, acknowledges the potential of alternatives like Proof-of-Humanity, BrightID, and Worldcoin but warns of the privacy and security risks. He emphasizes the need for a balance between privacy protection and accurate identification.

Consider users who manage multiple wallets for different purposes or avoid social media altogether. For them, anti-Sybil products requiring extensive identity verification are highly inconvenient. Even with complete social media profiles and a single wallet, collecting real-life and social credentials can be a cumbersome process. Moreover, these approaches aren’t foolproof against Sybils, as data can be manipulated, forged, or used maliciously.

How Nomis Is Different: A Sybil Tool?

Nomis stands apart by avoiding traditional doxxing methods. Instead, it transforms Sybils into real users through a permissionless and trustless system. By simply connecting a wallet, Nomis uses on-chain data and sophisticated AI and machine learning models to generate a Nomis Score. This score assesses a user’s activity without the need for traditional verification methods.

The Nomis Score algorithm combines statistical methods and machine learning techniques, including neural networks, to analyze data and identify relationships between various attributes. It starts with extracting on-chain data, enriching it with third-party services, and incorporating expert judgment. The algorithm utilizes advanced neural network architectures like RNNs, LSTMs, TCNs, and Transformers for time series data processing. This combination of expert knowledge and machine learning ensures accurate scoring.

Nomis offers more than just scoring. Through ScoreFront, users can leverage their on-chain reputation to access exclusive rewards from web3 projects. As users engage in more on-chain activities, their Nomis Score increases, gradually transforming Sybils into genuine contributors and early adopters. This transformation opens up opportunities for unique rewards and benefits within various ecosystems.

In the end, both projects and users benefit, creating a positive outcome for everyone involved. Explore how Nomis works and check your Score on our website. Start your journey toward a more private and efficient on-chain reputation system!