Decentralized justice lives on mainnet and it's working.
Kleros recently partnered with Ethfinex exchange in an attempt to create a fully decentralized exchange listing platform.
Ideally, this will fill two functions:
1 - Handing back firmer control to the community
2 - creating a reputable and trustworthy list of legitimate token projects using a cryptoeconomically backed system.
A TCR of such calibre is beneficial to the whole community and other projects who want to verify the information or legitimacy of a project. Users should be able to visit this list and view a one-stop-shop of projects including correct logo, name, ticker and contract address. We hope as it grows, it will become the go-to Dapp for verifying certain project information.
As it stands, the list has been working as expected and we're actively developing upon all user feedback regarding UI /UX and general usability.
Submissions on the TCR and PNK in The Courts
The list is steadily growing with 52 token submissions and 20 Ethfinex badge requests going into the first voting round. (Only tokens with Ethfinex badges are eligible for the Nectar ran community listing vote).
There are currently more than 10 Million PNK (around $60k worth) staked in the Kleros Court with some 40 jurors arbitrating on cases. The Athena Court is where disputes passed from our Token Curated Registry (or any other Dapp for that matter) go to be resolved by Kleros jurors. At the moment, we have a small number of courts with two specifically focused on token challenges and challenges to Ethfinex badges.
There have been a number of token challenges ranging from incorrectly named tokens (DaoStack was challenged on the basis it's actually called DAOStack to a 0x challenged on incorrect logo listing. Both were eventually registered on the list).
The All-Important Ethfinex Badge
There have been 20 Badge submissions depositing a total of 500 ETH (which is refundable if compliant with the list) and so far, five challenges. Projects that successfully attain the Ethfinex Badge are eligible to go forward to the Nectar public voting process held at the end of each cycle.
The first such vote has been held with the token projects that attained registered badges.
A Large Dispute Appears
We've seen four badge challenges so far with a huge amount of input from the community in providing the evidence for their claims.
The largest of these disputes so far has been Spendcoin. Initially challenged by the community for not meeting the Ethfinex Criteria, it is now in the first appeal phase. Jurors voted against granting the badge with Spendcoin paying the appeal fee on their side and the community crowdfunding in full swing.
This case alone currently has around 50 ETH locked in along with 400k PNK. There will be a full article detailing the whole challenge in due course.
Numbers correct as of 29/03/2019
Submissions to Token Curated List = 52
Ethfinex Badges Applied For = 20
Challenged Badges = 5
Unique Jurors = 40
Total deposited through the Dapp = 574.25 ETH
Total PNK Staked = 10 Million
Total USD Value = ~$138,000 (Approx combined amount staked or deposited in ETH & PNK)
Check It Out For Yourself
We encourage you to get involved by reading through the short guide below.
For a more detailed deep dive see the link below.
The Kleros Book - Free Download
In other news, have you read our book Dispute Revolution? A handbook on decentralized justice available as a Free Download in all your favourite formats.
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