scatterbrained
@scatterbrained
web3 Wikipedia: how game theory & token engineering could solve fake news in post-truth internet era 🧵👇
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scatterbrained
@scatterbrained
Token engineering is the practice of using tokens to align economic incentives of individual actors with the desired outcome of the platform. In this case, our desired outcome is a factual encyclopedia of human knowledge.
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scatterbrained
@scatterbrained
Today, Wikipedia relies mostly on altruistic actors who voluntarily moderate individual entries, but the recent edit wars around the "recession" entry is a good example of this system breaking down. How might we use tokens to incentivize factual edits?
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scatterbrained
@scatterbrained
A token-curated encyclopedia– let's call it TruthDAO– would issue a unique governance token for every individual encyclopedia entry. These could trade freely or be issued against a bonding curve. New token emissions reward administrative and maintenance tasks, as well as edits.
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scatterbrained
@scatterbrained
As a token holder, you have a financial interest in the success of the encyclopedia entry. Your incentive is to maintain a popular, high-quality encyclopedia entry that attracts new contributors and drives up the value of your governance tokens.
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scatterbrained
@scatterbrained
In order to edit an entry, a contributor would need to purchase an amount of that page's governance token and submit a "edit deposit" alongside their edit proposal.
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scatterbrained
@scatterbrained
Existing editors (token-holders) would have the ability to challenge new edit proposals. To challenge an edit, the challenger must stake their own token deposit.
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scatterbrained
@scatterbrained
For edit proposals that are challenged, token holders vote to accept or reject that edit. If rejected, the editor's deposit is forfeited and split amongst the challengers.
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