Research Report｜Humanity Protocol Project Overview & H Token Valuation

I. Project Introduction

Humanity Protocol is an on-chain identity infrastructure project that aims to achieve robust Sybil resistance — “one person = one ID” — through non-invasive palm recognition technology. The protocol is designed to solve fundamental issues in the blockchain ecosystem, such as fake identities and mass account farming for airdrop arbitrage. These problems are particularly acute in areas like airdrop distribution, DAO governance, and KYC-sensitive scenarios, where current solutions are either overly centralized or fail to prevent mass registrations. Humanity leverages smartphone-based palm scans as the unique human identifier, using zero-knowledge proof (ZKP) to generate verifiable credentials that confirm identity without exposing personal information.

Technically, Humanity does not store palm images directly. Instead, it encrypts the scan result into an irreversible mathematical feature and uses machine learning comparison for validation. This approach offers more privacy than traditional biometrics and is more accessible (only an ordinary smartphone is required). Core verification is integrated into the official mobile app (Android live, iOS in development). After palm verification, users earn double daily rewards and unlock additional future protocol features.

Funding-wise, Humanity Protocol has enjoyed strong support since inception. In February 2024, it completed its strategic seed round with investments from Animoca Brands and Polygon co-founders Yat Siu and Sandeep Nailwal. In May 2024, it raised $30 million led by Kingsway Capital, and in January 2025, Pantera Capital and Jump Crypto jointly led a $20 million investment that valued the company at $1.1 billion.

Within the emerging "human layer" sector, Humanity Protocol has a clear positioning: it aims to solve on-chain unique identity with minimal hardware hurdles. Its ability to scale biometric verification and deep ZK integration set it apart from traditional DID projects. In the near/mid-term, whether Humanity can build a large sample of verified individuals, perfect its on-chain identity system, and standardize verifiable credentials for third-party applications will define its network effect and eventual adoption.

II. Project Highlights

1. Over 6 Million Unique Human IDs Registered, Building the First Large-Scale On-Chain Human Graph
   Humanity Protocol has surpassed 6 million unique Human ID registrations — verified via palm biometrics plus ZK encryption — already far ahead of similar identity projects in scope. Each ID is provably unique and tamper-proof. This creates a robust solution for Sybil attacks in DePIN, DAO, and airdrop contexts and delivers foundational data for trusted "human base layers" in Web3.

2. Practical Tech for Mass Adoption: Palm Recognition Via Smartphone
   Unlike Worldcoin’s iris scanners, Humanity’s palm verification is smartphone-based, lowering the barrier to entry. No specialized hardware is needed: users simply verify via the mobile app, which extracts palm features with deep learning and matches them on-chain, processing all privacy via ZKP. This delivers the right balance of accessibility and privacy and enables genuine mass onboarding.

3. Multi-Industry Integration, Strong Potential for Real World and Cross-Vertical Use Cases
   Humanity Protocol is already collaborating with partners in healthcare, education, gaming, and more, aiming to use on-chain credentials as real-world proofs (VCs). Scenarios include age verification for event access, or proof of education/employment in off-chain use. This cross-context value is a long-term revenue and adoption anchor, expanding beyond Web3-only dynamics.

4. Standardization Plug-and-Play Modular Integration
   The project’s architecture is modular: Proof-of-Humanity can serve as a plug-in for both on-chain dApps, DePIN, RWA protocols, and off-chain platforms. Any protocol requiring verified identity can implement Humanity’s module, enhancing universal trust. As Ethereum and L2s emphasize identity, Humanity’s standardized interface and interoperability give it first-mover advantage and strong prospects as a multichain DID foundation.

III. Token Valuation Outlook

As one of the most high-profile Sybil-resistant blockchain networks, Humanity Protocol’s palm biometrics identity system has clear real-world applicability and growing network effects. The project has raised over $50 million at a peak valuation of $1.1 billion and surpassed 6 million registered Human IDs. With its scalable, mobile-based solution, it is well-positioned for global adoption as the "human base layer" of Web3.

Currently, the circulating market cap of $H is ~$82.52M, lower than established identity and credentials projects such as ENS (domains), Galxe (Web3 VC network), or WLD (biometric currency network). Given Humanity’s real user base, mobile-first strategy, robust ZK capabilities, and strong incentive distribution, there is 2–5x re-rating potential. If mainnet/runtime launch, governance, or network effect milestones are hit, it may approach the valuation range seen by Worldcoin and other global identity protocols.

IV. Tokenomics

Total Supply: 10 billion $H

Allocation:

• 19%: Early Contributors (Team) — Founders and core early developers
• 10%: Investors — Strategic funds for ecosystem development
• 5%: Humanity Institute Reserve — For operational services and future partnerships
• 12%: Foundation Operations — Ecosystem liquidity, OPEX, and aligned initiatives
• 24%: Ecosystem Fund — Incentives for partners, devs, and protocol builders
• 18%: Identity Verification Rewards — zkProofer node operator incentives for long-term validation
• 12%: Community Incentives — User onboarding, airdrops, and adoption rewards

Utility:

• Staking Incentives: Users can stake $HUMA for future rewards, driving demand and lock-up mechanics.
• Liquidity Pool Access: Staking $HUMA may serve as a gateway to participate in prime liquidity pools with different risk/reward profiles.
• Governance (Planned): $HUMA is expected to be used for protocol governance, fund allocation, protocol upgrades, etc.
• Long-term Utility: As a bridge between DeFi and real-world assets (receivables, invoices, etc.), $HUMA could offer further value in Web2 finance scenarios.

V. Team Funding

Team:

• Founded by tech entrepreneur Terence Kwok (with a background in Web3 and identity projects)
• Core team members have backgrounds in blockchain, AI, biometrics, and privacy-preserving computation, excelling in multi-disciplinary protocol development and execution.
• Major focus on palm recognition and mobile-based Proof-of-Humanity, with an emphasis on privacy.

Funding:

• Over $50M raised across three rounds for a peak $1.1B valuation
• Feb 2024: Strategic round by Animoca Brands, Polygon Labs, and co-founders Yat Siu and Sandeep Nailwal; focused on early product and model validation
• May 2024: $30M led by Kingsway Capital (testnet, global scaling, palm print model optimization)
• Jan 2025: $20M led by Pantera Capital and Jump Crypto; funding for mainnet launch, ZK-PoH incentive scaling, and dev ecosystem growth

VI. Risk Disclosures

1. Currently, $H’s primary use is for palm verification rewards and early incentivization; a complete economic loop is not yet in place. If the team fails to launch governance/utilities or value capture mechanisms (node staking, credential markets, etc.), the ecosystem could face a “subsidize-and-dump” cycle.
2. While ZK is used to avoid direct biometric storage, all biometrics carry unique privacy and cross-border compliance risks. Regulators could classify the project as “biometric data collection,” leading to regional restrictions or takedowns.

VII. Official Links

• Website: https://www.humanity.org/
• Twitter: https://x.com/Humanityprot
• Telegram: https://t.me/HumanityProt