We just launched the UTU browser extension to help you easily leave feedback and reviews on URLs or dApps, and view feedback and endorsements from your online networks.
We’re excited to announce that the UTU browser extension will soon be available for download on Chrome extensions download and Brave extensions download pages! Click here to join our Beta waitlist to get notified.
Following the UTU Protocol Mainnet launch on October 12 2022, the UTU browser extension is now live for users to start earning UTT and building their digital reputation.
Read on to learn about the problem we’re solving, how the UTU extension solves it, benefits for users and their networks and future plans.
What problem is the UTU Browser Extension solving?
Actions on the web and especially on Web3.0 can carry some amount of risk, both real and perceived. Although web3 is meant to liberate from the restrictive ownership and data silos of web 2, some anxiety remains. You can never be too sure about new websites you encounter. With dApps, this apprehension is even more acute, “Will that dApp drain my wallet?”
By streaming signals directly to users right at the place and time they’re about to interact with a site or dApp we can all help keep each other safe online, and create a positive economic incentive model around a more trustworthy internet.
How is the UTU Browser Extension solving it?
The UTU Browser Extension provides high level summary signals about interactions, feedback, and endorsements of a site (domain) from your network at a glance as well as a detailed view that lets you watch video stories from your network about the site as well as view badges, star ratings, text website reviews, and UTT endorsements of the site from your network.
Review-To-Earn
The UTU Browser Extension also critically enables UTU’s Review-to-Earn Value Proposition which is at the heart of our entire token model. Through our browser extension you can easily leave feedback on a site in the form of video, stars, badges, and text. You can also make an endorsement of the site with some of your UTT balance — you can think about this as putting some of your reputation that you’ve earned from connecting your social medias to UTU protocol behind your feedback of a particular site — utu.io for instance.
When others in your network see your feedback, and then interact with the site, and endorse it onward, there’s a UTT reward that is generated for you as the endorser for helping facilitate a good outcome. On the contrary, if you endorse a site that goes on to scam folks, your staked UTT would be penalized. In this sense, it’s not the act of reviewing that will generate you the most UTT but rather positive outcomes of transactions informed by your endorsements/content.
Monetize Your Reputation With $UTU Rewards.
The link between UTT, your reputation, and $UTU coin is the crux of UTU protocol. In previous versions of our White Paper, we had included an auction mechanism to convert UTT into $UTU. This mechanism was a bit clumsy though and didn’t intuitively reflect the human experience of trust as we’ve tried to do with everything we build at UTU.
We’ve remodeled this mechanism as a rewards payout to UTT stakers according to a function of the outcomes produced by their endorsements
UTU Protocol has an initial reward pool of 300 million $UTUs that serves as the network flywheel. By the time the initial reward pool is depleted, UTU Protocol’s daily intake of fees for accessing trust signals will have grown to such a level that daily $UTU rewards are perpetually funded by the day’s inflows of $UTU by users wanting to see UTU content and signals.
You can read more about these changes and the model in general in our updated white paper!
Benefits for users
- See Feedback from your network embedded in your browser as you surf web 3
- Earn from providing feedback
- Control your own data, relationships, and feedback content
- Privacy
How the UTU Browser Extension will work in the future
In forthcoming versions of the UTU Browser Extension, users will be able to view and leave feedback/endorsements on all manner of assets and entities across the web beyond URLs. This includes but is not limited to D-apps, Tokens, Pools, Crypto Wallets, Emails, and other platform handles.
Conclusion
The UTU browser extension is the embodiment of UTU’s vision to help users to connect, send, swap, stake and borrow in a safer, more trustworthy web3. Sign up for the Beta release at the link below to see the UTU Browser Extension in action and help create a safer and more trustworthy web3!
