IOST is a modular blockchain platform that provides infrastructure for tokenizing real-world assets and supporting decentralized identity. It has officially launched its Wear-to-Earn identity infrastructure by deploying the first 1,000 Signet Rings. These biometric-powered wearable credentials bridge the divide between physical presence and on-chain identity. This development is notable progress in IOST’s goal to establish an identity layer for Web3. The announcement follows an incredibly successful open enrollment period. Even with this limited capacity, we drew more than 12,000 registrations—signaling a tremendous interest and demand for this new and exciting technology.
Since its launch in 2018, IOST has completed more than 961 million transactions. It has accomplished all of this with zero downtime, providing an incredibly secure and reliable base for its rapidly-growing ecosystem. The platform's latest initiative, the Signet Ring, is designed to test live demand for key infrastructure building blocks and offers Wear-to-Earn rewards tied to biometric activity and real-world engagement.
We limited the first run of Signet Rings to only 1,000 pieces. This helps us measure demand and carefully balance and test the rollout to maximize delivery. These rings serve as NFT Credentials, enabling users to trade these rings on-chain, creating a whole new layer of utility and value. IOST imagines these rings as an infrastructure for interoperable identity applications to be built upon. Around them will grow KYC alternatives, secure health data vaults, proof-of-personhood applications.
"This isn’t merch — it’s infrastructure." - Blake Jeong, CEO of IOST
IOST employs advanced cryptographic techniques, including zero-knowledge proofs and fully homomorphic encryption, to process biometric signatures captured by the Signet Rings. This ensures user privacy and data security. The platform’s user base is still incredibly diverse. It consists of DeFi power users with portfolios exceeding $10,000, airdrop participants monitoring incentive programs, and Web3 fund managers in search of cutting-edge strategic allocation tools.
The Signet Ring initiative fits hand-in-glove with IOST’s larger mission. Together, they plan to issue over $10 billion in tokenized assets by 2028. For this, IOST is developing a secure, convenient, and more accurate identity layer. That’s going to be critical to successfully onboarding real-world assets into the decentralized economy. Thanks to the modular design of its platform, Tokenomics™ can drive compliant asset tokenization, meeting the fast-changing demands of both small startups and large enterprises.
IOST’s rigorous approach to innovation and scalability is reflected in its ongoing development and growth of its ecosystem partners. The release of the Signet Rings is an incredible achievement on several fronts. It takes us one step further toward our shared vision of a more secure, more efficient and user-empowered Web3 ecosystem. IOST is leading the way in connecting offline identity with on-chain credentials. This invention unlocks unprecedented opportunities in decentralized finance, governance, and more.
