The upcoming upgrade of the Humanode network aims to introduce EVM-compatibility to the chain in August 2023. We believe that Sushi Swap has always been on the forefront of DeFi constantly adding new features and markets. This is a chance for Sushi to be the pioneers once again. By combining Sushi Swap’s DeFi infrastructure with Humanode’s private biometric Sybil-resistance, we can create a ground breaking concept known as Private Biometric DeFi.
To simplify, Dapps deployed through Sushi on the Humanode EVM will have the capability to conduct private biometric verification of their users, ensuring that they are interacting with unique individuals. However, no personal information or biometric data will be exposed, as it will be securely safeguarded by our infrastructure (referred to as crypto-biometrics). This opens up numerous possibilities, including uncollateralized loan schemes, insurance offerings, non-linear staking rewards and retroactive airdrops. After the integration Humanode can enable quadratic LP staking of SUSHI/ETH pools, or any other SUSHI pool the community vote will choose.
This is a proposal to add Humanode to the list of supported chains. Humanode is close to EVM launch as well as private onchain biomapping that will enable Sybil-resistance with confidential biometrics. To make it user-friendly, Humanode is planning to integrate a bridge supported by Sushi, and then our protocol will be able to accept payment for anti-Sybil checks from 10+ networks, in any token.
- There are agreements with L1s connected to Sushi to use Humanode biomapping;
- Since Humanode consensus does not require staking, the only way of getting rewards for holding HMND will be LP staking on Sushi;
- Sushi will become the first Dex to support Quadratic LP staking.
Humanode stands as the pioneering crypto-biometric network, where each human is represented by one node. Rather than relying on PoW or PoS, Humanode’s foundation is built on Proof-Of-Uniqueness and Proof-of-Existence, ensuring that each validator is a distinct human entity. Based on Substrate, EVM-compatible.
Some Key Statistics:
Nakomoto coefficient higher than in any PoS network ~150;
Human nodes ~300;
Verified unique humans ~220,000 in Q2;
Average biometric session time: 6.5 seconds;
Mainnet deployed in November 2022 with zero outages.
Basically, we are providing a way for any Dapp to know that they are interacting with the same person behind an account, without knowing anything about the person himself. It enables a new approach in modelling insurance, uncollateralized loans, retroactive airdrops and many other DeFi where rating systems are involved. Imagine Worldcoin but accessible from any device with 2MP camera and more accurate.
Interested how biometrics would work? You can try it now with our Discord integration called BotBasher
Biometric LP Staking
By utilizing confidential Sybil-resistance, we can ensure that one person can stake LP tokens with only one address. This approach allows us to scale LP rewards non-linearly based on the amount of LP tokens staked, providing higher APY% to small holders and lower rewards to large market makers. The goal is to onboard not only TVL but also attract numerous smaller LPs.
We have a user base of 220,000 humans who have used our biometric verification technology over the last 3 months. As the first step, we anticipate that Sushi will become the primary staking venue, as our consensus does not require stake from validators. Subsequently, we plan to onboard other projects to this novel LP staking scheme.
Here is a chart illustrating how quadratic rewards will work:
In this model, we calculate the square roots of liquidity provider’s share in the pool and apply lower and upper boundaries to the APY. The upper limit discourages sock puppeting, while the lower boundary provides assurance to large LPs that they will not suffer significant losses due to impermanent loss.
July: Humanode EVM testnet running
August: Humanode EVM mainnet launch
On-chain confidential biometric verification
To facilitate a smoother mainnet deployment, the Humanode team will deploy Sushiswap on the testnet.
Enables new use cases with biomapping (required for top 30 L1 partners), and quadratic LP staking;
Pools will be supported by liquidity from top 4 market maker;
Sushi will become the only venue for staking HMND tokens;
Substrate based, integration will be very similar to Moonbeam.
The blockchain has been live only for 8 months.
- Make Sushi a pioneer in Sybil-resistant DeFi
- Not interested (and will comment why)