Tokens
A community-curated list of Tokens
Kleros Tokens is an open and decentralized curated registry of tokens. In other words, it is a community-managed list of ERC-20 tokens (including their name, ticker, logo and address) open to any project and curated by the power of Kleros arbitration and economic incentives.
Why does the ecosystem need a decentralized and open list of tokens?
As the Ethereum ecosystem continues to evolve, we continue to see exponential growth in the number of ERC20 tokens being issued. This maturation reflects the success of permissionless innovation, a trend we expect will only accelerate in the future: everything of value will be tokenized.
As the rate of token issuance accelerates, it has become increasingly difficult for users to filter out high quality, legitimate tokens from scams, fakes, and duplicates. Across the space, projects are managing and maintaining rapidly growing token lists. The end result is a lot of wasted time, slow listing processes and scammed users. In addition, builders should spend their time building, not deciding which tokens are legitimate and which are scams, fakes, or duplicates.
Kleros Tokens is a community-managed initiative to improve discoverability and trust in ERC20 tokens in a manner that is inclusive, transparent, and decentralized.
Decentralizing the listing and curation process for tokens
In the legacy financial system, the concept of “listing” is incredibly meaningful. Gatekeepers manage lists of assets on a discretionary basis. Without listing, the utility of an asset is severely diminished. Unlisted assets often can’t be transferred, traded or used in any other capacity. For all intents and purposes, “unlisted assets” do not exist.
In the Ethereum-based decentralized financial system, the concept of “listing” loses its meaning. Anyone can create a new ERC20 token and transfer it to anyone else, and it will be publicly recorded on the Ethereum blockchain.
Since all tokens use a standard interface, infrastructure-layer applications, such as wallets, analytics sites, and DeFi protocols (like Uniswap) can immediately recognize and interact with new ERC20 tokens from the moment they are deployed.
As we move towards mass tokenization, this process of filtering and curation becomes more important than ever before for Ethereum-based projects. The alternative is a UX nightmare, with users having to verify the legitimacy of assets on an ad hoc basis.
As the decentralized finance movement continues to remove gatekeepers, it is imperative that new systems for discovery and reputation do not devolve into centralized gatekeeping, which is why Kleros Tokens registry is completely open and transparent.
How does it work?
Anyone can submit a token and its information with a deposit. The submission goes through a challenge period.
If no one challenges it, it is automatically accepted into the list.
If someone challenges it by putting up a deposit, then it goes to Kleros Court for arbitration.
It is also possible to make a removal request for an entry already accepted into the registry.
What about Badges?
Badges are a way to add additional information on top of token entries. For example, an "ERC-20 badge" was created with its policy specifying what is expected from an ERC-20 token and anyone can request for this badge to added to a token. Badges can be used for a variety of use cases such as decentralized listing process (ex: badge "Compliant collateral for lending protocol"), security rating or scam warnings.
What type of information is stored in the Tokens registry
Tokens
The Tokens registry contract contains all token submissions. A token submission contains the token's data its current status and request history.
Name - The token's name (e.g. Gnosis).
Ticker - The token's ticker (e.g. GNO).
Address - The token's address.
Symbol Multihash - The multihash of the image with the token symbol, using the keccak-256 hash function.
Badges
You are free to define the information required for a badge
Use cases
Kleros Tokens is already one of the most popular Token Lists (and the only decentralized one) and is thus used by the likes of Uniswap, Sushiswap, Zerion, etc... as a way to list tokens in their application.
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