TCPR
Token Curated Product Registry
Token Curated Product Registry (TCPR) is a decentralized system of curation of product information, which creates a reliable database recorded on the blockchain and maintained by the community, which receives intrinsic incentives in WWIRE tokens as rewards.
In the TCPR, token holders are given the responsibility of curating the information in the database. They are incentivized to do so by earning rewards in the form of tokens for accurately and truthfully curating the information. This incentivization mechanism ensures that token holders have a vested interest in maintaining the accuracy and quality of the information in the database. In addition, the decentralized nature of the TCPR means that there is no central authority or intermediaries that can manipulate the information, providing a level of trust and transparency to users.
The TCPR system is being built by Wireshape around the TCR concept and the pioneering work done by Mike Goldin from ConsenSys in his Token-Curated Registries 1.0 paper which can be read here.
Users and Roles
In the Token Curated Product Registry (TCPR), there are four types of users: consumers, applicants, voters and brands, and each one has its roles, interests and incentives around the registry.
Consumers: desire high-quality product information for free.
Applicants: desire their data contribution to be included in the registry, get rewards and increase the scarcity of the tokens they hold.
Voters: desire to get rewards and increase the scarcity of the tokens they hold.
Brands: desire their products to have high-quality information and be trusted by their customers.
TCPR Workflow and Main Features
Product Registration Application
Contributor makes an application with complete product information and image, which are recorded on the blockchain and stored decentrally in IPFS.
Curatorship
A 24hr voting period is provided for each product registration application. Curator Contributors can vote for or against an application, evaluating the accuracy and quality of the information.
Product Registration
After counting the votes, the application validated by the weight of the majority of votes from the curators is whitelisted, that is, it is flagged as validated and thus becomes part of a list of valid product registrations on the blockchain.
Product registration update
It is the challenge created by an applicant for an already registered product, with updates to its information or images. It also goes through a 24-hour voting period and if whitelisted, it updates the data in the registry, keeping the history of all applications in the blockchain.
Brand domain verification request
Authorized brand representatives can request brand domain verification and become authorized to officially register and validate product data for the brand.
Brand verification
Authorized brand representatives who have a verified brand domain in the system can apply to have their brand's product data validated by the brand itself.
The interplay between these four user types creates a decentralized and self-governing system, where the accuracy and quality of the information in the TCPR is maintained through a process of voting and incentives.
Incentives, Transactions & Rewards
All incentives, transactions and rewards are performed in WWIRE (Wrapped Wire). Free Swap WIRE / WWIRE available.
Incentives
50M of WIRE tokens are reserved for incentives for the first 1M of registered products (validated applications and updates).
Distribution of incentives in WWIRE:
0 to 1,000 registries, applicant winner receives 500 WWIRE (500.000 tokens reserved)
1,000 to 10,000 registries, applicant winner receives 100 WWIRE (900.000 tokens reserved)
10,000 to 50,000 registries, applicant winner receives 30 WWIRE (1.200.000 tokens reserved)
50,000 to 100,000 registries, applicant winner receives 10 WWIRE (500.000 tokens reserved)
100,000 to 250,000 registries, applicant winner receives 6 WWIRE (900.000 tokens reserved)
250,000 to 500,000 registries, applicant winner receives 2 WWIRE (500.000 tokens reserved)
500,000 to 1,000,000 registries, applicant winner receives 1 WWIRE (500.000 tokens reserved)
Transactions
Product Registry Application
Minimum deposit amount for registration of 10 WWIRE for Contributor
Minimum deposit of 10x the Minimum deposit amount for registration for Brand
Deposit amount determines application/update weight
Curatorship
Minimum deposit in WWIRE of the Minimum deposit amount for registration divided by 10
Deposit amount determines voting weight
Brand Domain Verification Request
Cost 10x Minimum deposit amount for registration (goes to Wireshape DAO treasury)
Rewards
Applicants, voters and brands are rewarded when a WWIRE prize pool is formed in their interactions.
Below is a list of cases that may occur and how users will be affected in cases of a product registration application winning or losing.
Case 1: Contributor-made product registration application wins:
The product is registered
Deposit from voters against goes to the prize pool
Contributor applicant receives 100% deposit back + 45% of prize pool
Contributor applicant receives incentive in tokens (if up to 1M products registered)
Voters for get 100% deposit back + 45% of prize pool (divided by number of votes for)
Wireshape DAO Treasure receives 10% of prize pool
Case 2: Contributor-made product registration application loses:
The product is not registered
Deposit from voters for goes to the prize pool
Contributor applicant deposit goes to prize pool
Contributor applicant does not receive incentive
Voters against get 100% deposit back + 90% of the prize pool (divided by the number of votes against )
Wireshape DAO Treasure receives 10% of prize pool
Case 3: Product application made by contributor or brand does not receive votes:
The product is not registered
Contributor applicant receives 100% deposit back
Case 4: Brand-made product registration application wins:
The product is registered
Deposit from voters against goes to the prize pool
Brand applicant receives incentive in tokens (if up to 1M products registered)
Voters for get 100% deposit back + 75% brand applicant deposit + 90% of prize pool (divided by number of votes for)
Wireshape DAO Treasure receives 10% of prize pool + 25% brand applicant deposit
Case 5: Brand-made product registration application loses:
The product is not registered
Deposit from voters for goes to the prize pool
Brand applicant does not receive incentive
Voters against get 100% deposit back + 75% brand applicant deposit + 90% of the prize pool (divided by the number of votes against)
Wireshape DAO Treasure receives 10% of prize pool + 25% brand applicant deposit
DAO Monetization
Rewards that revert to the DAO treasury
100% Brand Domain Verification Request
10% from prize pools
25% brand applicant deposit
Conclusion
TCPR is a promising new concept in the decentralized world based on the idea of using utility tokens to align incentives and ensure the quality of product information in the database. The self-governed nature of TCPR promotes fairness in transactions and creates a level playing field for all parties involved.
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