Araya Finance



Araya Passport is the credential system in Araya ID. It is an underlying data network infrastructure for building a collection network of on-chain digital credentials and off-chain personal information, helping protocols, brands, and developers to be able to use this system to build more robust products in Web3.

Problems with Current Credentialing Systems

Most of the current credential data and systems are controlled by a few companies or government agencies, and the data in the systems is not available to all developers, which leads to the isolation of credential data and systems from each other. At the same time, we see many Web3 entities working on building credential systems in the Web3 world today, but the data processing in Web3 is more complex and non-standard, resulting in a lot of labor required to collect and summarize the data. Secondly, most of the Web3 credential systems only focus on on-chain features, and rarely integrate with off-chain features of users or off-chain entities. Araya ID exists to solve these problems.

Value of Araya Passport

This aggregation network will be an open and collaboration-driven platform that Web3 and Web2 developers or marketers can use to connect the real and virtual worlds in order to build better communities and products.

Solutions from Araya Passport

In short, Araya Passport is designed to be similar to the "Soulbound" concept proposed by Vitalik Buterin in early 2022. We design each user's Araya Passport to be a programmable, non-transferable but revocable and retrievable pass with verifiable information. It is similar to an ever-expanding biography that, when verified, helps users build a complete identity that maps to the real world in the Web3 world.With Araya Passport, whatever social relationships, social identities and social credibility you have generated off-chain can be recorded in Passport, which is bounded to the user's wallet and is non-tradable. Any activity, learning or work experience of the user in the real world or in the Web3 world will give different attributes to the Passport, such as university graduation certificates, proof of employment in a company, Defi platforms that the user has interacted with, or DAOs that have participated in governance, etc.