Dec. 15, 2022 — As part of Occam DAO's zero-knowledge project, it is set to merge forces with Galactica Network.
Occam is a leading DeFi-first, DAO-governed incubator and launchpad on Cardano, Algorand, Near and a number of other layer-1 and layer-2 networks. Its interest in ZK stems from the obstacles currently seen in decentralized finance, such as the lack of capital efficiency due to the prevalence of Sybil attacks — in such cases, lenders simply can't trust an anonymous account with anything other than massive overcollateralization, as addresses are too easy to manipulate and duplicate. Especially following the FTX crash, delivering compliance remains a compelling necessity within contemporary Web3, without compromising on user privacy.
Galactica Network aims to solve the aforementioned issues plaguing the space via reputation-augmented DeFi solutions and zero-knowledge cryptography. More specifically, Galactica Network features the concept of reputation (a critical societal primitive) modeled on-chain through its zk-based tech stack , enabling true meritocracy, the foundation of decentralized society, and the future of Web3.
With Galactica Network, one does not simply have an unidentifiable address but an entire persistent identity that becomes ever more complex the more actions one takes within their “Cypher State.”
“Though it's still very early days, we are in conversations with the Galactica Network team and looking forward to seeing what they are developing. We see a lot of promises in ZK technology and how Galactica Network plans on employing the tech in particular and are excited to share this project's existence with the Occam DAO community so we can all follow its evolution,” said Michael, Occam DAO core contributor.
To further encourage interest, synergy and the integration of communities, Occam DAO has created a Gleam competition where users can participate by learning more about Galactica Network's technology. All entrants will have a chance to be rewarded for their correct answers and more discover about the new blockchain.
About Galactica Network