The decentralized reputation protocol Sismo has ceased operations and will return 51% of the funding to investors

ChainCatcher news, Hadrien Charlanes, the founder of the decentralized reputation protocol Sismo, tweeted that they are returning funds to investors (with a return rate of 51%). "Our development speed is fast, we have solved problems and built a great community. However, our pace is unsustainable." Hadrien Charlanes stated that Sismo has open-sourced parts of the code that were not previously open-sourced and will maintain the basic infrastructure for several months, and is happy to support teams/individuals who wish to turn their work into a public good.

According to RootData, Sismo is a modular proof protocol that enables reputation portability and aggregates the issuance of ZK badges. The generation process of ZK badges relies on zero-knowledge proofs (ZKP) and ensures the privacy of users and data. Sismo's ultimate goal is to achieve diverse and interoperable badges that can be creatively combined and promote true innovation in authentication and reputation systems. Sismo completed a $10 million funding round in December 2021, with participation from Delphi Digital, Fabric Ventures, IDEO CoLab Ventures, Framework Ventures, and others.