New Badges and a 1 million PNK reward returns to the Kleros Token Curated list. Find out how you can submit and earn below...
One Million PNK Submission Reward
To celebrate the release of added badges on our Token Curated Registry submitters will be rewarded with one million PNK in relation to their accepted badge submissions over the next three months. The PNK reward applies to all Non-Technical badges.
There are two new badges: the TrueCryptosystem and the Stablecoin. Attaining these badges requires a strict adherence to the criterion of each badge which we'll look at in more detail below.
Attaining this badge is a recognition that the project is a true cryptosystem in the sense of Mike's Cryptosystem Manifesto.
Tokens with this badge are displayed first on uniswap.ninja exchange.
The token must fulfil Mike’s Cryptosystem Manifesto. The key element to this is the token must work as a necessary element of a self-sustaining system which is a public utility.
1. A token is a necessary element of a system if the use of any other in its place would damage the system’s normal functioning.
We have to ask: Would replacing the token with ETH or a stablecoin create issues to the system? Would removing the token damage the system? If the answer is no, the token does not meet the requirements.
Reject if: The token is only used for payment and we could use DAI instead.
2. A system is a public utility if it is permissionless, rent-free, and does something useful.
2.1 Permissionless: There shouldn’t be any entity which can prevent people from using the system.
Reject if: Users need to be KYC'd by a central authority before being able to use the system.
2.2 Rent-free: There shouldn’t be any sort of fee given to actors not providing value to the system. Disguised fees, such as token burning, are to be considered as fees.
Reject if: There is a 1% fee on each transaction which is used to buy tokens and burn them. Token holders do not need to do any kind of work.
2.3 Utility: The system must be live. It must have users which are using the system due to its utility. Users using the system to test or, because use is incentivized by system creators, do not qualify for this point.
Reject if: The system is a testnet proof of concept only.
3. A system is self-sustaining if it could continue to function normally in the indefinite absence of its creators. There should not be a small set of users with special powers required to maintain the system.
Reject if: System updates need the approval of a multi-sig controlled by one of the founders.
Tokens with this badge are elevated to the top of Kleros Escrow. You can find out more about the Escrow, its use cases and how you can utilize secure trust-less transactions in your business's workflow, click here.
This badge is to be attributed to Stablecoins which follow the requirements below:
1. The token must have a price target (USD, gold, basket of goods, etc).
Accept if: The token is made to be stable against USD.
The target must be one of the following:
A fiat currency (ex: USD).
A government bond (ex: A French OAT: Obligation assimilable du Trésor).
A precious metal (ex: Gold).
Well defined stones (ex: A well-defined kind of Emerald).
The value of a particular kind of labor (ex: The average hourly rate of an unskilled Latvian worker).
The value of a particular kind of real estate (ex: The average value of 10m² apartment in Lisbon).
The value of a particular kind of livestock (ex: The average value of llama in Peru).
A consumer price index (ex: United States Consumer Price Index).
Another stablecoin (ex: DAI).
A value which can be computed using only variables satisfying one of the above criteria (ex: a basket of fiat currencies).
2. The token must have a defined mechanism to maintain the peg (asset-collateralized, crypto-collateralized, algorithmic, etc).
Accept if: The token is backed by ETH collateralized debt position with economic incentives leading to price stability.The mechanism to maintain the peg should not consist of increasing or decreasing the balance of each user, maintaining the token peg, but making user balances unstable.
Reject if: The stability mechanism consists of multiplying each user balance by the token/target ratio.The token should have been trading for at least 30 days.
Accept if: The token has been trading for 35 days. The token price must follow its price target. The considered period is the last 30 UTC days before the day of the request (the day of the request is excluded). The 30-days moving average of the token/target ratio should be within 0.97 and 1.03.
Accept if: The 30-days moving average ratio is 0.98.Any 1-day moving average of the token/target ratio of the considered period should be within 0.90 and 1.10. Only complete days are considered.
Reject if: The token was submitted on the 13/08/2019. On the 05/08/2019, the token/target ratio was 0.89.
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