Kleros Tokens Tutorial
How to add Tokens and Badges to the Tokens Registry
Last updated
How to add Tokens and Badges to the Tokens Registry
Last updated
This is a detailed guide into the Kleros token curated listing Dapp.
For those of you who just want to get in and try here's a brief overview. To go straight to the Tokens Dapp open https://tokens.kleros.io/tokens in a new tab.
(Disclaimer: We recommend reading the whole post but if you have any questions just join our Telegram.)
Click 'Submit Token' fill in the required information, attach a transparent PNG logo and pay the 0.483 ETH deposit / stake fee.
The token will then be added to the list, assuming it is not challenged and ruled against by Kleros jurors.
After submitting a token, there is a Two Day Challenge Period in which other users have the ability to check the listing details and challenge if necessary.
You would challenge in the case of a submission having the wrong information or logo attached.
As a challenger you will receive an ETH award for a correct challenge.
After juror arbitration fees are covered, the remaining ETH used by the submitter (to make the submission) will be sent to the challenger. In the event of an incorrect challenge your ETH deposit fee is lost.
Very simply, click the token listing you feel needs challenge and click 'Challenge', paying the 0.288 ETH challenge deposit fee. The token submission will then be sent to arbitration by Kleros jurors who will review any evidence attached and rule on the status and validity of the submission.
Jurors are the key element to the integrity of the whole system. Challenged disputes will end up in the Kleros Athena court to be ruled upon by our crowdsourced jurors. To become a juror, you will need PNK (the Kleros native token) and to then stake in the Kleros Court. You'll find a full explanation of how to do that further down this post.
Badges are the key element of whether a token is compliant for listing on the Ethfinex exchange. Badges require a large ETH deposit fee to deter scams and malicious submitters (feel free to try though) and also a very large juror deposit for the chance to rule on disputed badges.
Projects that successfully receive the Ethfinex Badge are then able to make it to the Ethfinex NEC holders community vote. Those that do not receive this badge will not have any possibility of listing.
We'll go into this further in a follow up post.
The Token Curated List is built on the back of a cryptoeconomic incentive system designed to provide sufficient motivation to jurors, submitters and challengers to create a list that fits within the criterion of the subject. In this case, a curated list of tokens which are not scams, incorrectly labeled or malicious.
To interact with this list you must deposit (or stake) which acts as your financial incentive not to submit tokens with the aforementioned characteristics. Want to list a malicious contract address? Feel free, but you're likely to be challenged and lose the ETH you deposited listing it. Challenge a legitimate listing and you're likely to lose your ETH deposit too.
The Cryptoeconomics are in some respect 'Law' here.
_To submit a token, simply click the 'Submit Token' button in the top right and fill in the required fields shown above. The image MUST be a PNG with transparent background. Otherwise, you will likely be challenged and lose your ETH deposit fee. _
Becoming part of the token curated list is simple.
Click the blue ‘Submit Token’ button in the top right corner and fill in the required information including Token name, Token Contract address and Ticker.
Add a slick PNG image with transparent background for the logo.
The PNG format of this image is an essential factor. Please don't upload JPEGS / SVG's or any other format. You will likely lose your deposit.
Each submission requires a 0.438 ETH deposit fee in order to submit to the list.
This is a necessary step in regards to the cryptoeconomics within the Kleros platform.
This submissions status is now ‘Pending’ meaning other users can check the information including contract address, logo, ticker and name. There is a 2 day challenge period in which it is possible to challenge the submission. If no challenge comes forward at this point, the token will be verified on the list. How a token submission looks in flowchart form
If a submitted token is found to have incorrect or malicious information, they should be challenged. Users can do this by challenging the submission and depositing the 0.288 ETH stake as shown in the image below.Challenge a listing, give a reason why you're challenging and pay the ETH fee.
This will now send the challenged token to trial to be arbitrated on by Kleros jurors. Pending their decision and any potential appeals, (we'll get to that) the token will either be accepted onto or rejected from the final list.
After juror arbitration fees are covered, the remaining ETH used by the submitter (to make the submission) will be sent to the challenger. In the event of an incorrect challenge your ETH deposit fee is lost. To clarify, the deposit goes to the other side on a round by round level. So the submitter for the initial deposit and appellants in favor of the submitter proportionally to their contribution in the appeal.
Challengers are rewarded with ETH for successful challenges.
This time, for the challenger.
Note: Although this example is for the now outdated Ethfinex listing process, it works the same for all the badges available to add to tokens.
Badges are where it gets real, but don't be too alarmed, let's look at a comfy flow chart (which by coincidence looks VERY much like our first juror flow) to get acquainted.The badge submitter must be sure the project conforms to the Ethfinex listing criterion. The flow is almost identical to the token submission with different ETH deposit fees.
Essentially, this is a two tiered system with the first being a simple verification of contract address, image, ticker, token name and the second a far more time consuming and complicated process which requires a deep investigation of a projects credentials, team, github, legality, etc.
The Ethfinex badge is the key element to verifying if a token submission is compliant and possible to go forward to the NEC holder community vote. Attributing to this important point, the ETH deposit amounts for requesting or challenging a badge are much higher.
This helps to ensure proper due diligence is done before submitting. Remember: You will get it back if the Badge is either unchallenged, or if it is disputed, ruled as valid by Kleros jurors.
This ensures only correctly validated challenges should be placed. It is possible that compliant badges will be challenged but the final process of dispute and juror decision will be key to whether the badge is given to a token listing or not.
As shown below, you can select the project you want to challenge, pay the deposit fee and it will then be sent to trial. Give a reason and any supporting evidence which Kleros jurors will then evaluate and make their ruling.If you believe a badge has been requested in error or the token does not fit the Ethfinex criterion, you can click 'Challenge Addition', pay the refundable deposit fee (assuming you're correct) and the case will then go to trial and arbitration from Kleros jurors.
As already mentioned, the process is very much like the token submission listing but with far larger ETH deposits and PNK stakes. These higher stakes are a reflection of the importance of the Ethfinex Community Badge.
The first stage is the token listing process already described above. Successfully listed tokens are then eligible for badge request.
If the badge is not challenged or ruled as 'legit' by our jurors, the token is available for the Ethfinex voting process. If the badge is challenged successfully, the token will not be put forward to the voting process.
The difficulty curve is reflected in the larger ETH and PNK deposit fees. The 'Badge Challenger' flow. Again, this is almost identical to the token submission challenge flow.
Below we can see how that would look. Tokens which have made it through stage one (the initial token listing which verified address, ticker, name and logo) are eligible for badge request. Once a token is successfully added to the list, it is then possible to apply for badge listing paying the 25ETH deposit fee (refundable if submission is compliant) and wait for the challenge period of 3 days to end. Metamask will then pop up asking to make the transaction as shown above. If you're happy with it and have triple checked the token meets the Ethfinex criterion, hit 'Accept'.
