- Discussions/
- #5/
Litentry Governance & IDHub Use case
- Content
- AI Summary
Introduction
Let's take a closer look at a recent issue that occurred, which effectively showcases the potential of our exciting new solution. A user encountered a problem involving the incompatibility between Litentry and Ledger, prompting us to explore how we could resolve the situation utilizing Litentry and IDHub, specifically focusing on our latest product.
Well let’s hear it!
The Misstep
Before jumping to conclusions, let’s have a look at the recent issue as a use-case for this new and exciting solution. There was a recent user who came about with an issue he had involving Litentry and Ledger incompatibility and this made us think a bit about how we can solve the problem using Litentry and the IDHub; particularly the product we are currently launching.
Our case study involves a Litentry user, Raenius#7875, who intended to perform a transaction with their LIT tokens. However, due to a misunderstanding, the tokens were erroneously dispatched to a Ledger address, which doesn't support Litentry's native asset. Consequently, Raenius#7875 was unable to access his tokens and his ability to participate in additional services, such as staking, was restricted.
When Raenius#7875 realized his mistake, he approached the support team, explaining that he had accidentally sent his LIT tokens to an unsupported Ledger address. This mishap left him with inaccessible assets. Nevertheless, the Litentry community and project team proposed a proactive solution to recover the trapped assets, leveraging community involvement and the prospective IDHub for Identity Verification in governance.
The challenge was to authenticate "Raenius#7875" as the rightful owner of his ETH address. The user had unintentionally sent the asset to his own address but couldn't access it due to network or software incompatibility, or a lost seed phrase. Hence, we had to confirm that Raenius#7875 was indeed the owner of both the ETH and LIT addresses.
How to Verify: Current
To address this, we initiated a council motion to vote on the asset return proposal in Litentry governance. The simplest method to authenticate the Ethereum owner address was through https://etherscan.io/verifiedSignatures. For LIT, our Identity Litentry Registrar at https://docs.litentry.com/parachain/pallets-and-modules/litentry-identity-registrar or Polkadot/Web3 Foundation's identity setting at https://wiki.polkadot.network/docs/learn-identity could be used. However, this method was time-consuming and required users to reserve funds in a bond to store their information on-chain: 20.258 DOT and 0.066 DOT per each field. How could we improve this process in the future?
IDHub simplifying the adoption
With the launch of our new product, IDHub, we offer a solution for easier adoption. IDHub features Discord (Web2) verification on-chain integration, among other benefits. This feature allows users to link accounts more quickly and easily, saving time for just 0.001 LIT.
The Current Proposal for Retrieval:
To retrieve the stranded assets, the Litentry team proposed leveraging the community's power and initiating a Subsquare proposal. Even though the project team held certain administrative privileges, this strategy allowed council members and community participants to vote and support Raenius#7875 in retrieving his trapped assets. Acknowledging the significance of community engagement and decentralized decision-making, the Litentry team backed Raenius#7875's proposal. They moved forward with a council motion to perform the asset transfer to verify his address. Meanwhile, the team continues to explore possibilities for integrating Litentry with Ledger.
The Ideal Proposal for better Identity Verification Enhancement DAO and #Web3:
Simultaneously, the Litentry team identified a need for better identity verification. To address this, they proposed employing IDHub instead of Ethereum's signature verification. This amendment aims to simplify the verification process, enhancing user experience on Litentry. The team is eager for feedback and remains committed to implementing potential solutions to industry experts for better identity and verification management within IDHub.
Litentry is a new solution that helps people with problems involving different types of digital assets.
A user named Raenius#7875 had a problem with his LIT tokens, which he accidentally sent to an unsupported Ledger address. This left him with inaccessible assets, and he couldn't participate in additional services.
The Litentry community and project team proposed a solution to recover the trapped assets, leveraging community involvement and the prospective IDHub for Identity Verification in governance.
To authenticate Raenius#7875 as the rightful owner of his ETH address, they initiated a council motion to vote on the asset return proposal in Litentry governance.
With the launch of IDHub, Litentry offers a solution for easier adoption. IDHub features Discord (Web2) verification on-chain integration, among other benefits.
The Litentry team proposed employing IDHub instead of Ethereum's signature verification to simplify the verification process, enhancing user experience on Litentry.