As the Ethereum ecosystem continues to thrive, there’s an increasing need for tools to keep track of the widespread amount of innovation across so many different sectors.
Today, Everest launched a decentralized registry that allows projects to provide referencable onchain data thanks to the ERC-1056 identity standard. Using the Everest subgraph, other applications can showcase project details, eventually adding things like job listing, community events and blog posts.
1/ Everest is a universal registry of crypto projects curated by the community.
With the launch of Everest, we can now organize the crypto economy in a decentralized way & share details about dApps, DAOs, funds & more in a composable manner.https://t.co/Z76SvqcIuD
— Everest (@EverestRegistry) April 27, 2020
Not surprisingly, out of the 19 categories currently listed, DeFi has the largest number of individual projects, with 36 projects and counting. Best of all, each category can be broken down into subcategories including many of the sectors we cover here on DeFi Rate such as lending, derivatives and wallets just to name a few.
What’s the Big Deal?
While many attempts at a curated registry have been touted over the years, none have had the capacity or ability to pull it off at sheer scale.
Perhaps the most unique aspect of Everest is that anyone can add a new project for 10 DAI – largely encouraging participation from the community at large. Everest even took the time to seed the registry with 100 top projects including Compound, Maker, 0x and Aave to name a few. This means that representatives of those projects can go and claim their involvement, while others can freely challenge and vote to remove any projects they find to be ill-suited or mispresented.
“Anyone can add a project to Everest & owners can challenge projects, vote on challenges & delegate votes. This is governance at work. By decentralizing curation, Everest can be relied on as a dependable building block without giving any privileged group control over the data”
The Rise of Registries
While TCRs were all the buzz back in 2017, it’s interesting to see them starting to make noise now that the Ethereum power users have been more established.
Outside of Everest, the LAO – a for-profit limited liability organization by OpenLaw – has also launched a curated registry for projects on their radar to invest in – all in a distributed fashion. With this, it’s clear that the ability for decentralized organizations to permissionlessly control the fate of different projects is being much more well-received than being able to pay a one-time listing fee and remain on a tailored list (especially when the community has a different sentiment about that project).
The LAO makes joining a #DAO as easy as a couple of clicks.
— 👾 (@TheLAOOfficial) April 27, 2020
The Bigger Picture
As we continue to watch new and unique governance schemas unfold, it’s clear that Etheruem’s positioning as an immutable public ledger is becoming increasingly more permanent. With projects like Everest, new users can quickly reference and discover vetted service providers who are well in-tune with the ongoing developments of the ever-changing crypto landscape.
Watch @EverestRegistry become crypto-@crunchbase where the startups will actually have incentives to self-report because they earn some kind of token incentive and share in the profits. https://t.co/KxhR7YGupp
— Jake Brukhman (@jbrukh) April 27, 2020
While Everest currently only supports a project’s name, description, and social handles, we’re quite excited to watch the registry add support for new features like job listings, project updates, DAO proposals and more.
If one thing is for certain, they’ve definitely delivered the most compelling case for a permissionless TCR that we’ve seen to date!
To list your project on Everest, head over to https://everest.link/projects/new/ and connect with either MetaMask or Coinbase Wallet. Fill out the form and pay the 10 DAI listing feed and boom! You’re on the list 🙂
We’ll be keeping a close eye on the project and joining the registry ASAP. Until then, stay up with all things Everest via their official Twitter.
Cooper is the Editor of DeFi Rate and an active contributor to leading DeFi media outlets like The Defiant, DeFi Pulse, and Bankless. He works with early-stage teams through Fire Eyes DAO to incubate governance models and grassroots community development. He is an ambassador to Set Protocol and an author of a weekly publication called Token Tuesdays. To stay up with Cooper, follow him on Twitter.