Verida Storage Node Tokenomics RFP Process: Trout Creek Advisory Selected as Cryptoeconomic Design Partner
The Verida Network is a private decentralised database network developing important infrastructure elements for the emerging web3 ecosystem. Private storage infrastructure is an important growth area for web3, and the Verida network is creating a decentralized and hyper-efficient tokenized data economy for private data.
Last year Verida issued a Request for Proposals (RFP) to progress the development and implementation of the Verida Network tokenomic modelling. The RFP called for independent parties to bid on the delivery of analysis, design, modelling, and implementation recommendations for the economic aspects of the protocol.
A very competitive bidder process resulted in 11 bids being received from vendors globally. After an extensive evaluation process we are excited to announce that Trout Creek Advisory was successful in their bid. They will be working closely with the Verida team as we open network access to storage providers, launch of the VDA token and its utility.
Trout Creek Advisory is a full service cryptoeconomic design and strategy consultancy serving web3 native and institutional clients around the globe. At the forefront of cryptoeconomic and token ecosystem design since 2016, its team has both closely observed and actively shaped the evolution of thinking about distributed incentive systems across different industry epochs, narratives, and cycles.
“We’ve followed the technical progress of the Verida team for several years, and are excited to see them reach this stage. We’re delighted to now be able to leverage our own expertise towards the development of their token ecosystem, and to create a sustainable structure that will help ensure the protocol’s growth and most effectively enable private, distributed storage infrastructure for the broader community, ” said Brant Downes, Trout Creek Co-Founder.
“Verida’s Tokenomics RFP process resulted in many high quality submissions. Ultimately we chose Trout Creek given their strong proposal, and deep engagement they demonstrated through the process. They identified and addressed the specific needs for Verida cryptoeconomics, and through the evaluation process came out as best aligned to engage for this service.” Ryan Kris, COO & Co-Founder.
We would like to thank Dave Costenaro from Build Well who managed the bid process in conjunction with the Verida team. Dave previously worked at the CryptoEconLab at Protocol Labs, focusing on token incentives, tokenomics, mechanism design, and network monitoring for Filecoin.
We deeply thank all the teams who took time to submit bids for the RFP. The quality of submissions was extremely high, and demonstrates the growing maturity of work being conducted on token design in the crypto industry. We look forward to working with Trout Creek and will be sharing more updates as we progress the tokenomics research.
About Verida
Verida is a pioneering decentralized data network and self-custody wallet that empowers users with control over their digital identity and data. With cutting-edge technology such as zero-knowledge proofs and verifiable credentials, Verida offers secure, self-sovereign storage solutions and innovative applications for a wide range of industries. With a thriving community and a commitment to transparency and security, Verida is leading the charge towards a more decentralized and user-centric digital future.
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