Polygon ID for voting in DAOs launched
Polygon ID for voting in DAOs launched
Blockchain

Polygon ID for voting in DAOs launched

By Marco Cavicchioli - 23 Jun 2022

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Yesterday, Polygon ID was announced, allowing users to vote on DAO proposals with their identity.

Polygon ID comes to life thanks to ZKP

The benefits of the new Polygon ID

This is the first integration of Polygon’s zero-knowledge proof (ZKP) identification service, activated with Polygon DAO

The integration of Polygon ID in Polygon DAO will serve to introduce “equitable voting” in DAOs. 

In fact, thanks to Polygon ID, it is possible to replace the token-based governance of DAOs with one based on identity and reputation.

Currently, governance tokens are used to vote in a DAO, but these are by no means evenly or fairly distributed. Those with the most tokens have the most voting power

With Polygon ID, voting can no longer be done on the basis of tokens held, but on the basis of identity and reputation, ensuring that the same individual cannot vote twice. 

In addition, it allows for “Proof of Personhood” (PoP), without compromising user privacy

The benefits of Polygon ID: DAOs become fairer

Until now, it was not really possible to allow voting within the DAO based on specific attributes or the user’s reputation without directly linking it to a public wallet. 

On the other hand, the dependence of voting on the possession of tokens has led to whales having an inordinate influence within DAOs, in fact also increasing centralization

With Polygon ID, DAOs will instead be able to use a system based on “one person one vote” equivalence. It also avoids hostile takeovers of governance by whales

All this takes place without the sharing or exchange of personal data, with users retaining complete control of their digital identity without having to disclose any personal information.

The main properties of the new Polygon implementation

Polygon ID is based on the Iden3 protocol and the Circom ZK toolkit, enabling the expression of identity attributes as attestations that can be used to generate a zkSNARK proof that enables private interaction with smart contracts, dApps and Web3 services. 

In this way, DAOs can issue ecosystem-wide attestations about their members in a completely private manner, relying solely on the ZK proof and the trusted source (the issuer)

Polygon ID can already be used, for instance, to vote for Grail’s roadmap on their app, or to submit one’s project to the DAO competition “Vote for the Bounty” (votes will be cast using Polygon ID). 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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