TCR (Token Curated Registry)

Basic Idea

TCRs are useful for whitelists, blacklists, and more. Items are either in a set, or not (binary membership).

Conceptually, a TCR is a registry of listings generated by token holders. Listings can be anything from names to hashes of full blown records stored in IPFS. A holder stakes a portion of tokens to perform an action, i.e. adding a listing. Token holders can vote on whether to accept or reject the action using their tokens. A majority wins the vote and the action is accepted or rejected. The list is updated and should become more valuable given the improved listings and staked tokens are now out of circulation. Perhaps it is a finite list of exclusive members who have access to VIP services? Ref

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(Image Ref)

How It Works: An Overview

(adapted from here)

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  1. Publishers submit a deposit (saying 100 adToken) in order to become a part of this whitelist.
  2. In doing so, they have to wait out a challenge period. If honest and reputable, none of the current adToken holders should dispute/challenge this publisher and they will become a part of the whitelist after the completion of the challenge period. Their deposit is then kept, staked to their listing.
  3. During the challenge period, if a current adToken holder feels that this publisher will degrade the quality of the whitelist, they can issue a challenge, by submitting an equal amount to the listing applicant’s deposit. This initiates a voting period.
  4. adToken holders then proceed to vote whether to include (‘yay’) or deny (‘nay’) this publisher to the whitelist. Any adToken holders can then come and vote.
  5. After the voting period concludes, tokens are settled as follows:
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  1. If the challenger succeeds, the applicant’s deposit is distributed from them to the challenger and the voters on the winning side (‘nay’). With a 50% special dispensation, the challenger receives their deposit back along with an extra 50 adToken. This dispensation is a votable parameter by the TCR. The winning voters receive 50 adToken distributed by the amount of tokens they voted with. The voting process locks the tokens and thus is an opportunity cost on the token voters. They are reward for helping curate the registry and for foregoing the opportunity cost of voting.
  2. If the applicant succeeds, their deposit is kept.
  3. Whilst an application is a part of the registry they may be challenged at any point in time. If the registry’s deposit requirement is increased and a listing is not “topped up”, the listed item can be instantly removed by any token holder.

TCR Whitepaper, by Mike Goldin

TCR Applications

  • Ordered TCR // Token Curated Playlists (TCPs) [1][2]
  • 6 Apps using TCRs (MetaX, District0x, Messari, Ocean Protocol, FOAM and MedCredits)

More resources:

TCR Variants

TCR UI/UX framework

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Code

TCR Community

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